DIRS.INFO The most relevant business & tech news

☆ Airlines cancel 17,000 flights due to severe winter weather but disruptions ease
▼ + stars: | 2022-12-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Flight cancellations eased further on Monday but disruptions from severe winter weather across the U.S. lingered at the tail end of Christmas weekend. Carriers are likely to detail the costs of the disruptions when they report results next month, if not earlier. Southwest had been canceling many flights proactively in an effort to stabilize its operation, COO Andrew Watterson said. From Wednesday through Saturday, about a quarter of Southwest's flights were canceled, and two-thirds were delayed, according to FlightAware data. Airlines often cancel flights proactively during bad weather to avoid having planes, crews and customers out of place, problems that can make recovery from a storm more difficult.

Chief Executive Officer Bob Jordan said the reinstatement reflects "the strong return in demand for air travel" as well as Southwest's "solid" operating and financial performance since March. While mounting economic worries have clouded the outlook for consumer spending, the Dallas-based carrier said it has seen no signs of a slowdown in travel demand. It expects strong leisure revenue trends to continue into the first quarter of next year. Southwest will pay a quarterly dividend of 18 cents per share to shareholders on Jan. 31. "With more than two-thirds of its labor contracts still open,...reinstating dividends just illustrates how far Southwest has veered from its path," said Southwest Airlines Pilots Association President Casey Murray.

☆ Southwest Airlines reinstates quarterly dividend
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

Dec 7 (Reuters) - Southwest Airlines Co (LUV.N) on Wednesday reinstated its quarterly dividend program more than two years after suspending it in wake of the coronavirus pandemic, as demand for travel shows no signs of easing despite an economic slowdown. The company declared a third-quarter cash dividend of 18 cents per share. "Our fourth-quarter 2022 outlook remains strong, and we have a solid plan for 2023," Chief Executive Officer Bob Jordan said in a statement. The quarterly dividend will be paid on Jan. 31, Southwest added. Reporting by Priyamvada C in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ I'm proud we're the first airline to reinstate its dividend in full, says Southwest CEO Bob Jordan
▼ + stars: | 2022-12-07 | 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 EmailI'm proud we're the first airline to reinstate its dividend in full, says Southwest CEO Bob JordanSouthwest CEO Robert Jordan joins 'Power Lunch' to discuss reinstating the company's dividend, airline demand estimates for 2023 and the supply chain struggles with Southwest's Boeing delivery plan.

☆ Southwest Airlines reinstates dividend after nearly three years as travel rebounds
▼ + stars: | 2022-12-07 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

Southwest Airlines is reinstating its quarterly dividend that it suspended at the start of the Covid-19 pandemic in 2020, the latest sign of the airline industry's recovery. The $54 billion in federal aid that airlines received to keep paying employees during the pandemic prohibited dividends and share buybacks, restrictions that lifted this fall. The 18-cent dividend will be paid after the market closes on Jan. 31., Southwest said in a filing Wednesday, ahead of an investor presentation. U.S. airlines have returned to profitability and CEOs been upbeat about continued travel demand, even while business leaders in other industries including banking and technology have warned about economic weakness. Southwest reiterated that it expects fourth-quarter revenue to be up as much as 17% over 2019, before the pandemic, a sign higher fares continue to drive airlines' recovery.

United Airlines CEO Scott Kirby noted that more relaxed office attendance policies are also letting people travel more. The appetite for travel is persisting despite soaring airfares, which have been fueled by a pilot shortage and aircraft delivery delays. Even after Labor Day, when travel normally slows down, "it's just not the case this year, especially for international travel," she said. But if a recession hits, that could jeopardize all consumer spending — and prompt even higher-income Americans to rethink big trips. Tim Quinlan, senior economist at Wells Fargo, expects the holiday season will be the "last hurrah" for consumers.

☆ Americans are spending record amounts at casinos and airlines — but recent warnings from Amazon and Apple suggest the party may soon be over
▼ + stars: | 2022-11-03 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Despite inflation, Americans are still shelling out at casinos, airlines, and restaurants. In October, both American and Southwest Airlines reported record operating revenues for their respective companies in the third quarter. Following "record summer leisure travel demand," consumers continued to hit the skies in September, Southwest CEO Bob Jordan said. A Deloitte survey of nearly 5,000 Americans found that Americans plan to buy 44% fewer gifts — an average of nine versus 16 last year. "Spending should slow down significantly with the holiday hangover and as savings continue to dwindle," RSM economist Tuan Nguyen told USA Today.

☆ Watch CNBC's full interview with Southwest CEO Bob Jordan
▼ + stars: | 2022-10-27 | 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 CEO Bob JordanSouthwest CEO Bob Jordan joins CNBC's Phil LeBeau and the 'Squawk on the Street' team to discuss the airline's latest quarterly earnings report and its expectations for a strong fourth quarter. "We've got record revenue, we've got record passengers, we tied for a record load factor," Jordan tells CNBC regarding the company's third-quarter performance. "The goal is to continue all that momentum into 2023."

☆ Southwest CEO Bob Jordan: Our strong revenue and passenger trends will continue into Q4
▼ + stars: | 2022-10-27 | by ( Phil Lebeau | ) 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 CEO Bob Jordan: Our strong revenue and passenger trends will continue into Q4Southwest CEO Bob Jordan joins CNBC's Phil LeBeau and the 'Squawk on the Street' team to discuss the airline's latest quarterly earnings report and its expectations for a strong fourth quarter.

☆ Consumer spending is slowing, but there are still pockets of strength in these three sectors
▼ + stars: | 2022-07-28 | by ( Robert Hum | ) www.cnbc.com time to read: +4 min

Despite new signs of slowing consumer demand, pockets of strength remain in travel, payments and autos. "Travel demand surged in the second quarter, and thus far, strong demand trends continue in the third quarter," CEO Bob Jordan said. Credit card companies have been showing no signs of a letup in consumer spending, too. Remember, American Express reported very strong travel and entertainment spending . And here's the key line in the release from CEO Michael Miebach who said, "Increasing inflationary pressures have yet to significantly affect overall consumer spending."

Search resuls for: "Bob Jordan"

10 mentions found