Southwest Airlines Co reported a 16 percent drop in quarterly profit on Thursday...
FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019. REUTERS/Mike Blake/File Photo
Dallas, Texas-based Southwest, the world’s largest MAX operator with 34 jets in its fleet and dozens more on order, said it lost more than $200 million in revenue during the quarter, above its previous estimate of $150 million. The low-cost carrier has removed the fuel-efficient, longer-range MAX from its flying schedule through Aug. 5 as it waits for Boeing Co to submit a software fix and new training guidelines to global regulators for review.
On an adjusted basis, the company earned 70 cents per share in the first quarter, beating estimates of 61 cents per share, according to IBES data from Refinitiv.
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