Southwest Airlines posts $220 MILLION Loss after holiday meltdown trends now
Southwest Airlines reported a loss of $220 million during its fourth quarter due to its infamous holiday meltdown several weeks ago that saw close to 17,000 flights canceled.
American Airlines, on the other hand, toured a better-than-anticipated profit quarter with a profit of $803million, a number it says bolsters its ongoing claim that travel is back in full swing following the height of the pandemic years.
The struggling budget airline, which has since returned to normal operations, says it is anticipating another loss during the year's first quarter, but is encouraged by booking trends for March.
While Southwest posted a loss, American Airlines posted an $803million profit during its fourth quarter, a better-than-expected figure
Southwest Airlines experienced a meltdown during the final days of 2022, stranding thousands of holiday travelers and causing the cancelations of close to 17,000 flights
'Thus far in January 2023, the Company has experienced an increase in flight cancellations and a deceleration in bookings, primarily for January and February 2023 travel, which are assumed to be associated with the operational disruptions in December 2022,' wrote the company in its quarterly report.
The airline's catastrophic late December meltdown cost the company a reported $800million loss after passengers were left stranded all over the country during the last 10 days of 2022 and even into the new year, in some cases.
News broke on Wednesday, that the US Department of Transportation is in the early stages of an investigation into the airline following the travel disaster of epic proportions.
A spokesperson for the departments shared, 'DOT is in the initial phase of a rigorous and
