Southwest Airlines Co forecast better-than-expected second-quarter revenue growt...
- Southwest Airlines Co forecast better-than-expected second-quarter revenue growth on Thursday, citing demand from leisure and business customers, even though it is uncertain when its grounded Boeing 737 MAX jets will return to service.
Southwest’s 34 737 MAX aircraft represent less than 5 percent of daily flights on its fleet of 753 aircraft, but the grounding has forced the cancellation of thousands of flights and weighed on costs. The timeline and eventual cost of getting the MAX back into service is a “prominent wild card” for Southwest, JPMorgan analyst Jamie Baker said, given the possibility of international regulators disagreeing about new training requirements, which could be expensive.
That beat Wall Street’s average estimate of 61 cents per share, according to IBES data from Refinitiv. Analysts cut their estimates sharply in late March after the MAX grounding.Southwest, which currently uses only Boeing narrowbody aircraft, suggested on Thursday that it may consider mixing up its fleet in the future, but for now plans to continue growing with the 737 MAX.
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