Southwest Airlines announced a reduction in its expected aircraft deliveries from Boeing Co, attributing the decision to production delays at Boeing. This has led Southwest to cut its capacity and rethink its financial forecast for 2024. The airline is also halting most hiring and reviewing its spending plans due to the anticipated reduction in aircraft deliveries. Southwest's stock price dropped by 7.3% in premarket trading to $31.30, following the announcement. CEO Bob Jordan expressed significant frustration with Boeing, emphasizing the need for the aircraft manufacturer to improve its performance. Southwest, which operates an all-Boeing 737 fleet, is now reevaluating its 2024 financial estimates in light of these delays.
Southwest CEO Bob Jordan, sounding more frustrated than I've ever heard him, says Boeing needs to do better. The all-Boeing 737 airline is reevaluating 2024 financial estimates bc of long Boeing delays. $LUV https://t.co/GwE4ryof5T
Southwest plans to reduce capacity, reevaluate 2024 financial outlook on delivery delays from Boeing https://t.co/RT81fV5ARj
$LUV | Southwest Airlines CEO: Considering ‘Significant Change’ In Expectations For Aircraft Delivery Schedules - Not Providing 2024 Outlook At This Time
"Southwest Airlines Co. plans to cut capacity this year, halt most hiring and review its spending plans in response to reduced aircraft deliveries from Boeing Co..." https://t.co/6NvEVhTRan
$LUV (-7.5% pre) Southwest Airlines cuts capacity, and rethinks 2024 financial forecast, citing Boeing problems https://t.co/t7OaXy5O84 $BA
$LUV - reduced its outlook based in part on disrupted/delayed deliveries from $BA - Southwest PREMARKET $31.30-2.48 -7.3% Market Rebellion analyst Bryan McCormick For more technical analysis, join the Rebellion: https://t.co/1Ui1h0X9zx https://t.co/adaZn3lS2W
Southwest Airlines is Reevaluating 2024 Guidance Due to Boeing Challenges https://t.co/FeyxtSmLgD
⚠️ SOUTHWEST CUTS DELIVERY FORECAST FROM BOEING Full Story → https://t.co/TLQYVosuE7 Southwest Airlines on Tuesday cut its expectations for the number of aircraft it expects to receive from supplier Boeing Co, which is grappling with production delays. https://t.co/45thJAj0mk