DIRS.INFO The most relevant business & tech news

☆ Southwest Airlines CEO Bob Jordan: We predict record revenues again in Q3
▼ + stars: | 2023-07-27 | 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 predict record revenues again in Q3CNBC’s Phil LeBeau and Southwest Airlines CEO Bob Jordan join 'Squawk Box' to discuss the airline's quarterly earnings results, Q3 outlook, record travel demand, pilot negotiations, and more.

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

☆ Southwest Airlines shares slide as costs rise, unit revenues slip
▼ + stars: | 2023-07-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines Boeing 737-700 aircraft as seen landing at dusk time at Ronald Reagan Washington National Airport DCA in Arlington County, Virginia over the Potomac River in the United States of America flying over water and buildings. Southwest Airlines shares slid more than 6% in premarket trading Thursday after the airline reported lower unit revenue and higher costs during the second quarter — and said the trends are likely to continue this quarter. The Dallas-based airline's second-quarter unit revenue dropped 8.3% from a year earlier, Southwest said, citing a policy change last summer that removed expiration dates from pandemic travel credits. The carrier said it expects unit revenue to fall as much as 7% during the third quarter on capacity up 12% from a year earlier. Airlines have enjoyed record revenue in recent months, but airfare in the U.S. has dropped from 2022, according to the latest inflation read.

Persons: Ronald Reagan, it's, Bob Jordan, they're Organizations: Southwest Airlines Boeing, Ronald Reagan Washington National Airport DCA, Southwest Airlines, Airlines, Southwest, Revenue Locations: Ronald Reagan Washington, Arlington County , Virginia, United States, America, Dallas, U.S

July 26 (Reuters) - Boeing's (BA.N) first delivery of the 737 MAX 7 has been delayed to 2024, the company said in an SEC filing on Wednesday. Boeing still expects the Federal Aviation Administration to certify the MAX 7 and begin FAA certification flight testing for the MAX 10 in 2023, the company said. MAX 10 is currently slated for first delivery in 2024. Both the MAX 7 and MAX 10 are seen as critical for Boeing to compete against Airbus (AIR.PA) for orders at the top and bottom of the narrowbody markets. Boeing must first win approval from the Federal Aviation Administration for its smaller MAX 7 before it can get approval for the MAX 10.

Persons: Dave Calhoun, Mike Fleming, Boeing's, Bob Jordan, Ben Minicucci, Valerie Insinna, David Shepardson, Chris Reese, Nick Zieminski Organizations: SEC, Boeing, Federal Aviation Administration, FAA, Airbus, Southwest Airlines, Wall, Reuters, Airbus ’, Southwest, Alaska Airlines, Thomson Locations: Washington

☆ Southwest Airlines CEO Bob Jordan: We expect a strong profit for the entire year
▼ + stars: | 2023-04-27 | 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: We expect a strong profit for the entire yearSouthwest Airlines CEO Bob Jordan joins CNBC's Phil LeBeau and 'Squawk on the Street' crew to discuss the airline's Q1 earnings results, rebuilding brand image in light of recent travel snafus, and more.

☆ Southwest sees 'solid' Q2 profit, flags 20 fewer jet deliveries from Boeing
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +2 min

April 27 (Reuters) - Southwest Airlines Co (LUV.N) said on Thursday it expects "solid profits" in the current quarter on strong summer bookings, and flagged 20 fewer deliveries of the MAX jets this year from Boeing Co (BA.N). Delay in MAX deliveries is expected to increase operating costs for airlines and limit their ability to meet travel demand, hitting revenue. The company expects "solid profits" in the second quarter as well as the full year, but did not provide specific numbers. Analysts polled by Refinitiv expect an adjusted profit per share of $1.05 for the second quarter and $2.73 for 2023. "Travel demand and revenue trends in March were strong and resulted in solid profitability for the month," Jordan added.

☆ Watch CNBC's full interview with Southwest Airlines CEO Bob Jordan
▼ + stars: | 2023-04-27 | 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 EmailWatch CNBC's full interview with Southwest Airlines CEO Bob JordanSouthwest Airlines CEO Bob Jordan joins CNBC's Phil LeBeau and 'Squawk on the Street' crew to discuss the airline's Q1 earnings results, rebuilding brand image in light of recent travel snafus, and more.

☆ Southwest says Boeing's aircraft delays will force the airline to scale back hiring plans
▼ + stars: | 2023-04-27 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines is reducing its hiring targets for this year because of delays in new aircraft from Boeing , the carrier's CEO Bob Jordan said Thursday. The Dallas-based airline expects to receive just 70 new 737 Max planes from Boeing this year, down from a previous forecast of 90, which will reduce its capacity growth plans by one percentage point, Southwest said in quarterly filing. Southwest is one of Boeing's best customers and operates a fleet of all 737s. It has orders for 564 Boeing 737 Max planes through the end of the decade, according to the quarterly report. The company didn't respond to a request to elaborate on how much it will need to reduce its hiring plans.

☆ Boeing's 737 Max problem is the latest headache for airlines hungry for new planes
▼ + stars: | 2023-04-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022. The problem is related to two of several brackets in the aft fuselage of some 737 Max planes, including the most popular model, the Max 8. Boeing has a backlog of 4,196 Max planes, according to a tally on its website. "Boeing contacted us regarding an issue with a supplier's manufacturing process that will affect the delivery of Boeing 737 MAX planes to Southwest," the company said in a statement Thursday. A worldwide grounding and production pause of the 737 Max followed two fatal crashes of the Max.

☆ Southwest Airlines CEO receives higher bonus despite holiday meltdown
▼ + stars: | 2023-04-06 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +1 min

In February, the company said executive bonuses would be cut as a result of the meltdown. Jordan received $195,720 in bonus payout, up 89% from a year ago, according to a regulatory filing. The Dallas-based carrier also paid a higher bonus to Chief Operating Officer Andrew Watterson. Jordan served as executive vice president until Feb 1, 2022, when he became the company's CEO. Watterson served as chief commercial officer through last September.

☆ In hard times, Corporate America looks out for its CEOs
▼ + stars: | 2023-04-06 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

See here: Recent filings illustrate the way CEOs are still lavishly compensated even when massive screw-ups happen on their watch. A Southwest representative told CNN that the December cancellations did factor into the bonuses paid out to employees. The boards that make decisions on CEO pay are usually stacked with executives or former executives from other companies who benefit from the system. Often, CEOs of distressed companies — rather than seeing pay cut — receive so-called retention bonuses to encourage leaders not to flee the sinking ship. “When all the numbers are crunched, 2022 is going to be a flat year for CEO pay,” said Reda.

☆ Southwest Airlines’ CEO got 75% pay hike ahead of service meltdown
▼ + stars: | 2023-04-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Bob Jordan, who took over as CEO of Southwest Airlines in February 2022, just 10 months before the airline’s epic holiday travel service meltdown, got a 75% pay hike last year. When he took over as CEO, Jordan was moving up from an executive vice president position, and the pay hike was part of his promotion. His predecessor as CEO, Gary Kelly, received $5.1 million in 2022, serving as CEO in January and executive chairman the rest of the year. That’s down from the $5.8 million Kelly received in 2021 and $9.8 million he received in 2020. Jordan is not the only new CEO getting a big raise with his promotion ahead of a costly problem for their company.

☆ Southwest Airlines Outlines Plan to Handle Severe Weather Problems
▼ + stars: | 2023-03-14 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

A Southwest plane in Salt Lake City underwent deicing last month during a storm that affected much of the northern U.S.Southwest Airlines Co. said it has identified several solutions to manage the kind of severe winter-weather disruptions that caught it off guard late last year, resulting in thousands of flight cancellations. Chief Executive Bob Jordan said the company understood what caused the holiday disruption. “We expect to mitigate the risk of an event of this magnitude ever happening again,” he said Tuesday.

☆ Southwest to upgrade crew-scheduling software, hire more staff during winter
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Southwest Airlines Co (LUV.N) said on Tuesday it would upgrade its crew scheduling software and hire more staff in the winter, as the airline attempts to address problems that had led to large-scale cancellations during the holiday season. The Dallas-based carrier has come under fire ever since bad weather during the Christmas holidays left staff stranded across the country, which overwhelmed its crew scheduling software, disrupting travel plans for two million customers. The three-part plan was developed by the airline with inputs from aviation consultancy Oliver Wyman, which was hired to investigate the disruption. The plan looks at bolstering operations during the winter season, when chances of weather-related disruptions to travel-related services are high. "Work is well underway in implementing action items to prepare for next winter - with some items already completed," Jordan said.

☆ Southwest Airlines vows to increase winter staffing and improve tech after holiday mess
▼ + stars: | 2023-03-14 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Travelers check in at a Southwest Airlines ticket counter during the busy Christmas holiday season at Orlando International Airport on December 28, 2022 in Orlando, Florida. Southwest Airlines ' CEO said the company will increase winter staffing and equipment to help avoid a repeat of mass cancelations over the year-end holidays that cost the company millions of dollars and stranded tens of thousands of travelers. Bitter temperatures during Winter Storm Elliott limited how much time crews were able to spend outside, Southwest said. "We understand the root causes that led to the holiday disruption, and we're validating our internal review with the third-party assessment. "Work is well underway implementing action items to prepare for next winter—with some items already completed."

☆ Biden administration wants Congress to bar airlines from charging family seating fees
▼ + stars: | 2023-03-13 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Carlos BarriaWASHINGTON, March 13 (Reuters) - The Biden administration on Monday asked U.S. lawmakers to approve legislation to bar airlines from charging family seating fees if adjacent seats are available during booking. The bill would direct airlines to offer refunds or seats on another flight if adjacent seats were unavailable under certain conditions. Last week, American Airlines(AAL.O), Alaska Airlines(ALK.N) and Frontier Airlines(ULCC.O) agreed to guarantee in customer service plans not to charge family seating fees if specific conditions are met. Southwest Airlines (LUV.N) Chief Executive Bob Jordan said last week the airline is in discussions with USDOT about the family seating dashboard. USDOT has begun drafting regulations to end all family seating fees but that could take years to finalize.

It's about six months between when it's certified and we can put it into service," Jordan told reporters at an Aero Club event in Washington. Jordan said his "best guess" is it will be in service by Southwest in early 2024. Boeing said it continues to work with the FAA to meet the requirements for MAX 7 and MAX 10 certification. Boeing has unfilled orders of 388 737 MAXs for Southwest and 271 of those are for MAX 7s. Jordan added that, if MAX 7 entry into service is delayed, Boeing will deliver additional MAX 8s to Southwest this year in lieu of MAX 7s.

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) on Thursday faced harsh criticism from U.S. senators at a hearing investigating the airline's meltdown that disrupted travel plans for 2 million customers, with one lawmaker calling the situation an "unmitigated disaster." While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Democratic Senator Jacky Rosen called it an "unmitigated disaster" that had a "devastating impact on families." Watterson said it has received about 284,000 cases from passengers impacted by meltdown and reimbursed more than 273,000 -- leaving 10,782. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up."

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) faced harsh criticism from U.S. senators at a hearing on Thursday investigating the airline's meltdown that disrupted travel plans for 2 million customers. The airline and its pilot union offered sharply contrasting reasons for the low-cost carrier's massive travel disruptions. While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up." The meltdown caused the cancellation of almost 17,000 flights and is estimated to have cost the airline more than $1 billion.

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) faced harsh criticism from U.S. senators at a hearing on Thursday investigating the airline's meltdown that disrupted travel plans for 2 million customers. Senator Ted Cruz, the top Republican on the Senate Commerce Committee, called the cancellation of more than 16,000 flights "an epic screwup." While Southwest cited weather impacts, the union singled out poor preparation and a failure to modernize technology. Cantwell said Southwest Chief Executive Officer Bob Jordan, who had been invited to the hearing, "didn't want to show up." Casey Murray, president of the Southwest Airlines Pilots Association (SWAPA), said that the union has been sounding the alarm about the carrier's crew scheduling technology and "outdated" operational processes for years.

☆ Southwest explains its meltdown to Congress
▼ + stars: | 2023-02-09 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

Washington CNN —Congress is set to receive new evidence Thursday of internal chaos at Southwest Airlines over the Christmas holiday meltdown. The Senate Commerce committee is set to question Southwest executive Andrew Watterson, alongside Southwest pilot union president Casey Murray, Sharon Pinkerton of the Airlines for America trade group, Paul Hudson of Flyers’ Rights, and economist Clifford Winston of The Brookings Institution. It’s a mess down here.”A photograph of the message, which shows the extent of the airline’s breakdown, is included in testimony the Southwest Airlines Pilots Association union, SWAPA, plans to present at the hearing. Southwest CEO Bob Jordan apologized and the airline offered reimbursements for passengers’ costs, along with bonus points. The union criticized the airline for giving executives stock options in the wake of the meltdown while employees lost profit sharing pay because of the airline’s financial hit due to the meltdown.

WASHINGTON, Feb 9 (Reuters) - Southwest Airlines (LUV.N) and its pilot union will offer sharply contrasting reasons for the low-cost carrier's meltdown in December that disrupted travel plans for two million customers, ahead of a U.S. Senate committee hearing on Thursday. While Southwest has cited weather impacts, the union will single out poor preparation and a failure to modernize technology, according to written testimonies for the hearing, seen by Reuters. "What began as a weather event on December 21st turned into a crew scheduling event by December 24th," said Watterson. Casey Murray, president of the Southwest Airlines Pilots Association (SWAPA) said the union has been sounding the alarm about the carrier's crew scheduling technology and "outdated" operational processes for years. The committee had asked Jordan to testify but Southwest said the hearing conflicted with other commitments, including an employee rally in Baltimore on Wednesday.

☆ Southwest CEO Jordan finds himself in eye of storm after airline's holiday debacle
▼ + stars: | 2023-02-08 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +6 min

CHICAGO, Feb 8 (Reuters) - Bob Jordan, Southwest Airlines Co's (LUV.N) CEO, faces the biggest challenge yet in his 35-year career at the airline that has built a customer-friendly reputation. Southwest's struggles reached a notable low on Jan. 28 when comedy sketch TV show "Saturday Night Live" lampooned the Dallas-based airline's technology and service. The carrier will now answer to U.S. Congress on Thursday when Chief Operating Officer Andrew Watterson testifies before the Senate Commerce Committee. In October, Jordan, who started his career at Southwest in 1988 as a computer programmer, put Watterson in charge of the airline's operations. Last week, Jordan also named a chief information officer who will help manage the airline's technology investments, upgrades and system maintenance.

☆ Southwest pilots detail the Christmas meltdown chaos
▼ + stars: | 2023-02-08 | by ( Gregory Wallace | ) edition.cnn.com time to read: +4 min

CNN —Congress is set to receive new evidence Thursday of internal chaos at Southwest Airlines over the Christmas holiday meltdown. It’s a mess down here.”A photograph of the message, which shows the extent of the airline’s breakdown, is included in testimony the Southwest Airlines Pilots Association union, SWAPA, plans to present at a Senate Commerce committee hearing. “No updates here,” another cockpit computer message to pilots read. Southwest CEO Bob Jordan apologized and the airline offered reimbursements for passengers’ costs, along with bonus points. The union criticized the airline for giving executives stock options in the wake of the meltdown while employees lost profit sharing pay because of the airline’s financial hit due to the meltdown.

☆ Southwest plans to tell Senate it's confident in its schedule after holiday meltdown
▼ + stars: | 2023-02-08 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Southwest Airlines plans to apologize before a Senate panel on Thursday over the carrier's December meltdown that stranded hundreds of thousands of travelers around Christmas. "In hindsight, we did not have enough winter operational resilience," Chief Operating Officer Andrew Watterson said in written testimony, which was reviewed by CNBC, ahead of Senate Commerce Committee hearing. The debacle made for an $800 million pretax hit and drove the carrier to a net loss last quarter. Watterson plans to tell the committee that the carrier has made short-term improvements to communicate more easily with crews when things go wrong and has improved tools that keep track of the operation's stability. With those mitigation tools, "we are confident in our flight network and the schedules we have published for sale," Watterson plans to say, according to the testimony.

☆ Southwest Airlines reimbursed a couple for a $500 used car they bought to drive home after their flight was canceled
▼ + stars: | 2023-02-06 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +2 min

A couple bought a used car to drive home after being stranded by Southwest flight cancellations. The airline reimbursed the couple $500 for the car. Southwest canceled more than 16,000 flights in late December, and is still processing refunds. "We had an instance where a couple bought a $500 used car to drive home. We covered it and bought them a car, so to speak."

Search resuls for: "Bob Jordan"

25 mentions found