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 as the low-cost carrier is forced to cancel flights due to the grounding of Boeing’s 737 MAX jets.
“We’re an all-Boeing 737 carrier,” Southwest Chief Executive Gary Kelly told CNBC. “That doesn’t mean that we’ll be an all-737 carrier into perpetuity.” The company’s costs are already under scrutiny by analysts. Unit costs, or total operating expenses per available seat mile, rose 6.5 percent on an adjusted basis in the first quarter and are expected to increase by 10.5 percent to 12.5 percent year-on-year in the second quarter, it said.
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 regulators around the world grounded Boeing’s 737 MAX jets following two fatal crashes.
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