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☆ Airlines got too confident, and now they are paying the price despite record-breaking travel
▼ + stars: | 2024-06-29 | by ( Taylor Rains | ) www.businessinsider.com time to read: +8 min

Expensive fuel, maintenance, and labor don't help, nor do unpredictable setbacks outside the airline's control, like pandemic travel bans and production slowdowns at planemaker Boeing. But across the industry, many airlines are struggling to turn profits thanks to issues like overcapacity, unrelenting competition, and unexpectedly high costs, according to experts. Boeing delivery delays have eaten into profitsHarteveldt said Boeing's ongoing delivery delays have cost airlines like American, Southwest, and United millions of dollars. Airlines are plagued by high costs in an extremely competitive industryNearly everything is more expensive than it was before the pandemic, and airlines are no exception. For low-cost carriers like Frontier and Spirit, these high costs make it challenging to make money, Kraemer said.

Persons: —, Henry Harteveldt, Scott Olson, Robert Isom, Bob Jordan, Harry Kraemer, Kraemer, You've, you've, Harteveldt, Joe Raedle, they've, Stephen Brashear, Eric Glenn, Shutterstock Harteveldt Organizations: Service, planemaker Boeing, Business, International Air Transport Association, —, Airlines, Getty, Reuters, Southwest, Elliott Investment Management, Baxter International, Corporations, Google, Spirit, Frontier, Boeing, JetBlue Airways, Airbus, Bureau of Labor Statistics Locations: Delta, United

☆ Southwest Airlines cuts revenue forecast
▼ + stars: | 2024-06-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Southwest Airlines jet is parked Ellison Onizuka Kona International Airport at Kehole awaiting passengers on January 20, 2024 in Kailua-Kona, Hawaii. Southwest Airlines shares fell roughly 4% in premarket trading Wednesday after the carrier cut its second-quarter revenue forecast, citing changing booking patterns. Southwest still expects record quarterly operating revenue in the second quarter. Airlines are raking in record numbers of passengers but higher costs and growth in capacity have weighed on fares and profits. "The reduction in the Company's RASM [revenue per available seat mile] expectations was driven primarily by complexities in adapting its revenue management to current booking patterns in this dynamic environment," Southwest said in a filing.

Persons: Ellison, Bob Jordan, Gary Kelly, Jordan Organizations: Southwest Airlines, Airlines, Southwest, Elliott Management, Politico Locations: Kehole, Kailua, Kona, Hawaii, United, Dallas

☆ Southwest CEO vows change as activist investor pushes for new leadership
▼ + stars: | 2024-06-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines CEO Bob Jordan said the company is ready to adapt to changing customer trends like premium seating as pressure from an activist investor mounts. "We will adapt as our customers' needs adapt," Jordan said at an industry event hosted by Politico on Wednesday. Jordan's comments came two days after hedge fund Elliott Management disclosed a $1.9 billion stake in Southwest and said the carrier needs a new CEO and new chairman. Meanwhile, Jordan said Southwest has continued to work toward improving the customer experience. "It's been several years since we last studied this in-depth, and customer preferences and expectations change over time," an airline spokeswoman told CNBC.

Persons: Bob Jordan, Jordan, Jordan's, Elliott didn't, Elliott, It's, —, Rohan Goswami Organizations: Southwest, Politico, Elliott Management, Boeing, CNBC Locations: Southwest, Dallas, United States, Delta, U.S

☆ 5 things to know before the stock market opens
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

At Apple's annual Worldwide Developers Conference on Monday, the company unveiled "Apple Intelligence" – its long-awaited AI software. Apple CEO Tim Cook stressed privacy and personalization with the system, moving beyond AI into "personal intelligence." Siri will also be getting some upgrades with Apple Intelligence, and Apple announced that Siri will also be able to tap into ChatGPT when needed through the company's partnership with OpenAI. The activist hedge fund has taken a $1.9 billion stake in Southwest Airlines , which makes it one of the airline's biggest investors. This follows a number of other stakes the firm has built within the past two months, such as a $2.5 billion stake in Texas Instruments, a $2 billion stake in SoftBank and a $1 billion stake in Anglo American.

Persons: Tim Cook, John Giannandrea, Craig Federighi, Nic Coury, Siri, Elliott, Gary Hershorn, it's, Bob Jordan, Gary Kelly, Fred Tanneau, Stephane Bancel, Francis Scott Key, Michael A Organizations: Nasdaq, Dow Jones, Nvidia, Apple, Developers, AFP, Getty, Apple Intelligence, OpenAI, Max, Southwest Airlines, Hollywood International Airport, Corbis, Elliott Management, Texas, Moderna, Afp, Francis Scott Key Bridge, McCoy, Washington Post Locations: Cupertino , California, Fort Lauderdale, Fort Lauderdale , Florida, SoftBank, U.S, Baltimore

☆ Stocks making the biggest moves midday: Southwest Airlines, GameStop, Advanced Micro Devices and more
▼ + stars: | 2024-06-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Southwest Airlines — The stock rose 9% after activist hedge fund Elliott Management amassed a $1.9 billion stake in Southwest Airlines. GameStop — The meme stock slipped nearly 15% in volatile trading after a roller-coaster week. Advanced Micro Devices — The chipmaker fell 3% after Morgan Stanley downgraded shares to equal weight from overweight, saying investors' expectations look elevated. ReNew Energy Global — Shares popped more than 7% after Morgan Stanley upped its price target, saying the narrative for the U.K.-based company remains strong. DraftKings — The sports entertainment stock gained 2% after Morgan Stanley renamed the company as a top pick.

Persons: Bob Jordan, Gary Kelly, Keith Gill, Huntington Bancshares, Huntington, Morgan Stanley, GoDaddy —, Dow, Robert Half, Jefferies, DraftKings, Yun Li, Alex Harring, Michelle Fox, Sarah Min, Pia Singh, Sean Conlon Organizations: Southwest Airlines, Management, Southwest, GameStop, KKR, CrowdStrike, GoDaddy — KKR, Dow Jones, Comerica, Apple, Energy, Jefferies Locations: 2H24, Illumina, Illinois

☆ Activist investor takes $1.9 billion stake in Southwest Airlines, calls for leadership changes
▼ + stars: | 2024-06-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Elliott Investment Management announced Monday it has taken a $1.9 billion stake in Southwest Airlines and said there needs to be new leadership at the Dallas-based carrier. Southwest (LUV) stock gained more than 6% in trading Monday on the news of Elliott’s letter to the Southwest Board. Ellioitt’s letter made no mention of a desire to change Southwest from an all-737 fleet, which would increase the cost of pilot training and spare parts. Its letter does not give details about the changes it wants to see, other than a change in leadership at the airline. CEO Bob Jordan told investors last month that the airline is “seriously studying” a possible change to that policy.

Persons: ”, Elliott, Bob Jordan Organizations: New, New York CNN, Elliott Investment Management, Southwest Airlines, Dallas, Southwest Board, Boeing, Department of Transportation, Texas, Johnson Controls Locations: New York, ” Florida, Softbank

A Southwest Airlines jet comes in for a landing at Laguardia Airport in New York City, New York, U.S., January 11, 2023. Activist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals. Elliott said it intends to "pursue all available pathways to deliver the leadership changes" the activist believes Southwest needs. Jordan and Kelly have "presided over a period of stunning underperformance at" Southwest, Elliott said. In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments , a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American .

Persons: Elliott, Bob Jordan, Gary Kelly, Jordan, Kelly, Henry Harteveldt, Elliott's Organizations: Southwest Airlines, Laguardia, Elliott Management, Southwest, Delta Air Lines, United Airlines, CNBC, Atmosphere Research, Boeing, Crown, Texas Instruments Locations: New York City , New York, U.S, Southwest, Texas

☆ It isn't just Boeing that's bleeding billions — major US airlines are hemorrhaging cash too
▼ + stars: | 2024-04-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Southwest Airlines and American Airlines posted losses in the first quarter of 2024. On Thursday, Southwest Airlines and American Airlines reported losses in their quarterly earnings call. Southwest Airlines CEO Bob Jordan told CNBC the decision to cease flights had "nothing to do" with Boeing's aircraft delivery delays. AdvertisementRepresentatives for Southwest Airlines and American Airlines didn't immediately respond to a request for comment from BI sent outside regular business hours. "Near term, yes, we are in a tough moment," Boeing CEO Dave Calhoun said in a letter to employees on the same day.

Persons: It's, Bob Jordan, —, George Bush, Jordan, Robert Isom, I've, Isom, Isom's, Brian West, Dave Calhoun Organizations: Boeing, Airlines, Southwest Airlines, American Airlines, Southwest, Service, —, — Bellingham International, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, CNBC, American, Bank of America Global Industrials Conference . West, BI, Max, Wednesday Locations: — Bellingham, Cozumel, Southwest, Oregon, California

☆ Open seating no more? Southwest CEO says airline is weighing cabin changes
▼ + stars: | 2024-04-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines is weighing changes to its cabin that could involve abandoning its single-class, open-seating system to drive up revenue, CEO Bob Jordan told CNBC on Thursday. The changes would mark a massive shift for the carrier that has stood apart from rivals for decades with its simpler business model. Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding to customers for a fee so they can snag their preferred seats. The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum. Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.

Persons: Bob Jordan, Jordan Organizations: Airlines, CNBC, Boeing, Delta

☆ Southwest is leaving 4 cities this year as it deals with Boeing's 737 Max crisis — see the list
▼ + stars: | 2024-04-25 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

The airports losing Southwest service are:AdvertisementSyracuse Hancock International Airport in New York. Bellingham International Airport in Washington. Southwest also said it would "significantly restructure other markets," including putting capacity reductions at Hartsfield-Jackson Atlanta International Airport and Chicago O'Hare International Airport. Related stories"To improve our financial performance, we have intensified our network-optimization efforts to address underperforming markets," Southwest CEO Bob Jordan said in the earnings report, noting the impact could go into 2025. The backlash has prompted Boeing CEO Dave Calhoun to announce his resignation from the company, effective at the end of the year.

Persons: —, George Bush, Boeing's Max, Max, Bob Jordan, Jordan, Dave Calhoun, Boeing's, Larry Kellner, Stan Deal, Stephanie Pope, Sam Salehpour Organizations: Service, Boeing, Max, Southwest Airlines, Business, Southwest, Syracuse Hancock International, Bellingham International Airport, Cozumel International, George Bush Intercontinental Airport, Alaska Airlines, Hartsfield, Jackson Atlanta International Airport, Chicago O'Hare International, Ryanair, United Airlines, Boeing Commercial Locations: New York, Bellingham, Washington, Cozumel, Mexico, Houston, Southwest, Alaska

☆ Southwest Airlines CEO Bob Jordan on Q1 miss: A strong quarter despite the financial results
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest Airlines CEO Bob Jordan on Q1 miss: A strong quarter despite the financial resultsCNBC’s Phil LeBeau and Southwest Airlines CEO Bob Jordan join 'Squawk Box' to discuss the company's quarterly earnings results, impact of Boeing's delivery delays, the airline's decision to stop service at 5 airports, growth outlook, hiring freeze, and more.

Persons: Bob Jordan, Phil LeBeau Organizations: Southwest, Southwest Airlines

☆ Boeing problems lead Southwest to drop service to four airports
▼ + stars: | 2024-04-25 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

“The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025,” said Southwest CEO Bob Jordan in the company’s first-quarter financial results statement. That incident prompted a three-week grounding of the Max 9, and will delay the certification of two new models of the plane, the 737 Max 7 and 737 Max 10, until at least next year. The cutbacks are the latest sign of the widening impact of the ongoing problems at Boeing throughout the air travel system. It announced Thursday that it has trimmed its order book to 19 of those jets, shifting to 737 Max 8 jets instead. Unlike all-Boeing Southwest, American’s fleet of mainline aircraft is split fairly evenly between those from Boeing and those from its rival Airbus.

Persons: Houston’s George, ”, Bob Jordan, replanning, Max, Robert Isom Organizations: New, New York CNN, Southwest Airlines, Boeing, Bellingham International Airport, Cozumel International, Syracuse Hancock International, Houston’s George Bush Intercontinental Airport, Alaska Airlines, American Airlines, Airbus, American Locations: New York, Bellingham, Washington state, Cozumel, Mexico, Syracuse, Southwest

☆ Southwest loss widens, airline warns Boeing airplane delays will hit growth into 2025
▼ + stars: | 2024-04-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

A Southwest commercial airliner takes off from Las Vegas International Airport in Las Vegas, Nevada, U.S., February 8, 2024. Southwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into 2025. "The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. Adjusting for one-time items, including costs related to labor contracts and fuel, Southwest lost $218 million, or 36 cents a share. Correction: Southwest Airlines revenue of $6.33 billion came in slightly below analysts' estimates as compiled by LSEG.

Persons: George Bush, Bob Jordan, replanning, LSEG Organizations: Las Vegas International, Southwest Airlines, Boeing, Max, Bellingham International Airport, Cozumel International, Southwest, LSEG . Locations: Las Vegas , Nevada, U.S, Syracuse , New York, Bellingham, Washington, Cozumel, Dallas

☆ Why Zyn nicotine pouches are all the rage among workers looking for a boost
▼ + stars: | 2024-03-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why Zyn nicotine pouches are becoming the go-to alternative for workers looking for a boost . Zyn, a brand of nicotine pouch, has quickly gained a loyal following among some workers looking for a boost during the day. There was a 62% year-over-year bump in the amount of flavored nicotine pouches shipped in the US in 2023. Containers of "Zyn" nicotine pouches. He said the nicotine pouches were too accessible and gave him migraines.

Persons: —, Michael M, Jenny Chang, Rodriguez, Sarah Jackson, Tim Paradis, Sarah, Tim, it's, Zyn, Tim he'll, vaping, Mark Spitznagel, Spitznagel, Samantha Lee, Stanley, Max, Bob Jordan, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Getty, Wall Street, Republican, New York Stock Exchange, UBS, Electronic Arts, Verizon, Ford, Reading, Airlines, Boeing Locations: Copenhagen, New, Wall St , New York, USA, Oxford, New York, London

☆ Boeing failed to retain security camera footage showing work on Max jet door that blew out, NTSB says
▼ + stars: | 2024-03-13 | by ( Rob Wile | ) www.cnbc.com time to read: +3 min

Security camera footage showing work being done on a Boeing Max 9 door plug that later blew out mid-air has been overwritten, the head of the National Transportation Safety Board said. "Boeing has informed us that they are unable to find the records documenting this work." She continued: "A verbal request was made by our investigators for security camera footage to help obtain this information; however, they were informed the footage was overwritten. A Boeing spokesperson said the company, like many others, does not retain security footage for longer than 30 days. The Alaska Airlines plane in question was in the factory last year in September and delivered in October.

Persons: Jennifer Homendy, Homendy, Dave Calhoun, Calhoun, John Barnett, Max, Bob Jordan Organizations: Alaska Airlines Flight, Boeing, National Transportation Safety Board, Boeing Max, National Transportation Safety, Commerce, Science, Alaska Airlines, NBC News, Journal, U.S . Department of Justice, South, The New York Times, United Airlines, Southwest, JPMorgan, CNBC Locations: Alaska, Portland , Oregon, U.S, South Carolina, Barnett's

☆ 'We all need Boeing to be better': Airline bosses are getting annoyed that Boeing's problems are derailing their plans
▼ + stars: | 2024-03-13 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Boeing's 737 Max 10 and Max 7 jets are yet to be certified by regulators. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The 737 Max 10 and Max 7, the longest and shortest version of Boeing's narrowbody jet, are yet to be certified by regulators. The airline's chief financial officer, Mike Leskinen, said last month United is "deeply disappointed" in Boeing due to the delays. Last month, Southwest announced it will suspend all new pilot hiring after March 31 due to the production delays, Simple Flying reported.

Persons: Max, —, Scott Kirby, he'd, Mike Leskinen, Leskinen, Ed Bastian, Bob Jordan, Max — Organizations: United Airlines, Boeing, Service, Alaska Airlines, Bloomberg, Airbus, Reuters, United, JPMorgan, Delta, Southwest, Federal Aviation Administration

☆ Boeing's Max problems shift growth plans at major airline customers
▼ + stars: | 2024-03-12 | by ( Leslie Josephs | ) www.cnbc.com time to read: +4 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Boeing 's latest Max crisis is forcing some of its biggest customers to rethink their growth plans this year — and possibly beyond, several airline CEOs said Tuesday. "Boeing needs to become a better company and the deliveries will follow that," Southwest Airlines CEO Bob Jordan said at a JPMorgan industry conference Tuesday. In January, Kirby said the airline would build a fleet plan without the Max 10 because of the delays. On Friday, United told staff that it would have to pause pilot hiring this spring because new Boeing planes are arriving late, CNBC reported.

Persons: Bob Jordan, Scott Kirby, Max, Kirby, United, Dave Calhoun, Stan Deal, Deal Organizations: Boeing, Max, Boeing Factory, Southwest Airlines, Southwest, JPMorgan, Alaska Airlines, Federal Aviation Administration, Department, United Airlines, FAA, CNBC, Transportation Safety Locations: Renton , Washington, Washington

☆ Southwest Airlines CEO Bob Jordan: Boeing being a better company is 'really good' for us
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest Airlines CEO Bob Jordan: Boeing being a better company is 'really good' for usCNBC’s Phil LeBeau and Southwest Airlines CEO Bob Jordan join 'Squawk on the Street' to discuss the company's quarterly earnings results, 2024 outlook, Boeing's quality control issues, and more.

Persons: Bob Jordan, Phil LeBeau Organizations: Southwest, Boeing, Southwest Airlines

☆ From FedEx to airlines, companies are starting to lose their pricing power
▼ + stars: | 2023-12-29 | by ( Leslie Josephs | ) www.cnbc.com time to read: +5 min

Andrew Kelly | ReutersAfter years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Nike last week lowered its annual sales growth forecast and unveiled plans to cut costs by $2 billion over the next three years. "Goods companies don't have the pricing power they did in the pandemic, and some in the hotel and travel [industries] — they don't have the pricing power they did in the immediate post-Covid," he added. Sales growth for companies in the S&P 500 is on track to average 2.7% this year, according to mid-December analyst estimates posted by FactSet. Consumer spending on apparel and groceries rose 2.4% and 2.1%, respectively, from the year-earlier period, according to the survey.

Persons: Andrew Kelly, Mills, Joe Cavaretta, David Kelly, FactSet, Kelly, isn't, airfare, John F, Bob Jordan, Jordan, Ohsung Kwon Organizations: FedEx, Reuters, Shipping, Airlines, Target, Nike, Spirit Airlines, Hasbro, Fort Lauderdale Hollywood International, South Florida Sun Sentinel, Tribune, Service, Getty, Florida Sun, Morgan Asset Management, FactSet, Mastercard, Starbucks, Airline, U.S . Department of Labor, Kennedy International, Southwest, CNBC, Detroit automakers, Toyota, Cox Automotive, Bank of America Locations: New York, speedier, Fort, South

☆ Southwest fined $140 million for last year's holiday meltdown
▼ + stars: | 2023-12-18 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

The U.S. Department of Transportation on Monday said it fined Southwest Airlines $140 million for violating consumer protection laws during last year's holiday meltdown that stranded millions of customers following severe winter weather. It includes a $35 million cash payment to the government, which Southwest said will be paid over three years. The agency ordered Southwest to set up a fund to compensate future travelers for flight disruptions in the airline's control. Southwest didn't provide enough customer assistance during the meltdown or give prompt flight change notifications, the DOT said. Speaking at an industry event in New York last week, CEO Bob Jordan vowed that last year's holiday meltdown "will never happen again," just days ahead of the busy holiday travel period.

Persons: Pete Buttigieg, Bob Jordan, Jordan Organizations: U.S . Department of Transportation, Southwest Airlines, Southwest Locations: New York

☆ Southwest CEO vows last year's Christmas meltdown ‘will never happen again’
▼ + stars: | 2023-12-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021. With the peak Christmas travel season just days away, Southwest Airlines ' CEO vowed that the carrier will not have a repeat of last year's meltdown that stranded thousands of customers and cost the airline more than $1 billion. "It will never happen again," Bob Jordan said at an event Thursday at the Wings Club in New York. Last year, Southwest canceled close to 17,000 flights over the crucial Christmas and New Year's holiday period as it failed to recover from severe weather that gripped most of the country. Southwest struggled with staffing issues as storms left flight attendants and pilots out of position for their next flights, thousands of passenger bags piled up and planes were behind on de-icing.

Persons: Bob Jordan, Jordan Organizations: Southwest, CNBC, New York Stock Exchange, Southwest Airlines, Wings Club, CNBC PRO Locations: New York, Denver

☆ He wanted to be a trombone player. Instead, he ended up as CEO of one of the world's biggest airlines.
▼ + stars: | 2023-11-26 | by ( Chris Johnston | ) www.businessinsider.com time to read: +8 min

He's been CEO of European airline easyJet for the past six years. AdvertisementIn a parallel universe, Johan Lundgren would have become a professional musician and never ended up as CEO of one of the world's biggest airlines. "I like people, and I like travel," Lundgren tells Business Insider in a faint Swedish accent during an interview in central London. He spent many years at TUI, one of Europe's biggest travel companies, rising to deputy CEO by the time he left in 2015. AdvertisementIt's the UK's biggest airline and is first or second in many other markets too.

Persons: Johan Lundgren, He's, Lundgren, —, Swede, easyJet, Charles de Gaulle, Charles de, It's, I've, didn't, Bob Jordan, EasyJet, Stelios Stelios Haji, he's, that's, Michael O'Leary, Filipo Monteforte, Ryanair's Michael O'Leary, O'Leary Organizations: easyJet, Service, Royal College of Music, Soviet Union, SAS, Southwest Airlines, Ryanair, British Airways, London Gatwick, Southwest, UK's, Airbus, Getty Locations: Britain, London, Stockholm, Leningrad, Russia, Soviet Union, Soviet, TUI, Majorca, Europe, Charles, Paris, Charles de Gaulle, easyJet, Ukraine, Sweden, Canada, Toronto, AFP

☆ $29 flights are back as airlines race to fill seats in the off-season
▼ + stars: | 2023-11-11 | by ( Leslie Josephs | ) www.cnbc.com time to read: +6 min

A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana. Southwest Airlines , for example, last month offered one-way fares of $29 for flights early in the morning or at night, just one example of airline discounting for off-peak periods. Airlines have scheduled a record 259.8 million seats for domestic flights in the fourth quarter, up nearly 8% from last year, on 1.86 million flights, up 6% from 2022, according to aviation-data firm Cirium. United Airlines said it expects to fly 5.9 million passengers from Nov. 17 to Nov. 29, up 13% from last year and 5% more than 2019. That means they could increase their inventory of cheaper basic economy fares during weaker demand periods, or raise fares when demand is high for premium seats.

Persons: Luke Sharrett, Ryan Green, Scott Keyes, airfare, Bob Jordan, Jordan, Barry Biffle, we're, Hopper, that's, Biffle, Henry Harteveldt Organizations: Frontier, Spirit Airlines, Indianapolis International Airport, Bloomberg, Getty, Texas — Airlines, Southwest Airlines, Skift Aviation, Airlines, JetBlue Airways, Budget, JetBlue, Frontier Airlines, . Frontier Airlines, CNBC, Delta Air Lines, United Airlines, American Airlines, Southwest, Atmosphere Research Locations: Indianapolis , Indiana, Texas, Miramar , Florida, Orlando, Vegas

☆ Southwest Airlines profit falls, expects higher deliveries from Boeing in 2023
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 26 (Reuters) - Southwest Airlines (LUV.N) reported a third-quarter profit on Thursday that fell about 30% on soaring labor and fuel costs and the budget carrier said it expects higher aircraft deliveries from Boeing (BA.N) in 2023. Last month, Southwest Airlines raised concerns about rising fuel costs and weaker leisure bookings in August, citing seasonality trends. Southwest expects fourth-quarter operating revenue per available seat mile, a proxy for pricing power, to decrease by 9% to 11% compared with last year. Southwest Airlines also forecast capacity to increase by 15% in the current quarter, once adjusted for the operational disruption faced by Southwest in December last year. Southwest Airlines reported a profit of $193 million, or $0.31 per share, in the third quarter, from $277 million, or $0.44 per share, a year earlier.

Persons: Mike Blake, workgroups, Bob Jordan, Shivansh, Shounak Dasgupta Organizations: REUTERS, Southwest Airlines, Boeing, U.S, Southwest, Boeing's, Thomson Locations: Kahului, Maui, Hawaii, U.S, Bengaluru

☆ Southwest Airlines CEO Bob Jordan: We're taking action to pull back capacity 'prudently' in 2024
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouthwest Airlines CEO Bob Jordan: We're taking action to pull back capacity 'prudently' in 2024CNBC’s Phil LeBeau and Southwest Airlines CEO Bob Jordan joins 'Squawk Box' to discuss the company's quarterly earnings results, travel demand outlook, capacity concerns, cost pressures, and more.

Persons: Bob Jordan, We're, Phil LeBeau Organizations: Southwest, Southwest Airlines

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