Southwest Cuts Jobs, Quits Four Airports Due to Boeing Woes
Angus Mordant/Bloomberg via Getty Images
Southwest Airlines will be cutting jobs and ceasing operations at four airports while reducing flights from others to cut costs amid Boeing's ongoing complications.
Southwest Airlines said on Thursday that delays in deliveries from Boeing (Southwest uses Boeing 737 planes) led to its cost-cutting measures, with a “loss of $231 million for the first quarter, worse than analysts expected, sending its share price down 10 percent in early trading,” according to the New York Times.
Southwest will cease operations at the following airports starting in August: Bellingham International Airport in Washington State, Cozumel International Airport, George Bush Intercontinental Airport in Houston, and Syracuse Hancock International Airport. It will also reduce flights at Hartsfield-Jackson Atlanta International Airport and Chicago O’Hare International Airport.
As Breitbart News reported this month, a Southwest Airlines Boeing 737-800 was forced to make an emergency landing “after an engine cowling blew off during take-off from Denver International Airport.” That was followed by another Boeing (757) facing critical failure when a nose wheel fell off the plane before takeoff.
Dude. https://t.co/WD2YQJvbzQ
— Breitbart News (@BreitbartNews) January 24, 2024
According to the New York Times, Southwest said it expects to receive “20 new Boeing jets this year, down from the 46 it had previously anticipated.”
“The timing of the deliveries depends on the Federal Aviation Administration, which has capped Boeing’s production while it gets quality issues under control,” noted the outlet.
Bob Jordan, the airline's chief executive, said in a statement that the “recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025.”
Southwest Airlines also said it will cut 2,000 jobs while limiting new hires.
According to Yahoo Finance, Boeing shares have been trending downward due to its disastrous quarter performance.
“Boeing stock slid 2.8% on Wednesday after the company reported losses that were narrower than fear, but still reported negative free cash flow of nearly $4 billion as a result of the 737 Max crisis that has shaken the aerospace giant,” it noted.
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