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Southwest Airlines (LUV) has issued an announcement.
Southwest Airlines Co. has revised its financial outlook for the first quarter of 2024, with projections reflecting current booking trends and the company’s operational performance. Despite a slight decrease in expected revenue growth, with RASM now anticipated to be flat to up 2%, the airline has managed better-than-expected flight completion rates, leading to an 11% year-over-year increase in capacity. While the company predicts a net loss for the quarter, it expects to bounce back to profitability in March, and bookings for the second quarter are looking strong. Adjustments in operational plans, including halting hiring for certain positions and a reduction in expected aircraft deliveries from Boeing, are part of efforts to navigate current challenges and drive long-term financial success.
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