5/9/2023 0 Comments Buy credits audibleThat comes after the carrier reported a net loss of $220 million for the last quarter of 2022, as the meltdown cost Southwest $800 million in pretax income.Ĭongress is also investigating the meltdown. For its 2023 first-quarter earnings, the airline forecasts a hit to revenue of up to $350 million, according to the carrier’s latest filing with the Securities and Exchange Commission. Southwest is still reeling from its December debacle. “This ultimately strained our ability to keep up with the pace and the breadth of the disruptions,” Jordan explained. ![]() The Points Guy will not share or sell your email. ![]() I would like to subscribe to The Points Guy newsletters and special email promotions. Southwest CEO Bob Jordan said at a JPMorgan investors conference Tuesday that the storm hindered Southwest’s operations in two of its key airports: Denver International Airport (DEN) and Chicago's Midway International Airport (MDW). While most airlines swiftly recovered their operations following the storm, Southwest faced issues such as outdated technology and problems managing out-of-place crews that paved the way for widespread flight cancellations. during the holiday travel season - created a cascade of problems for Southwest. Winter Storm Elliott - which caused blisteringly cold temperatures to sweep parts of the U.S. The airline also pledged to upgrade crew scheduling systems and customer phone systems to handle higher call volumes. In particular, the Dallas-based carrier plans to purchase more de-icing trucks, engine covers and heaters, as well as hire more winter staff.Īdditionally, Southwest said it would invest more in its technology, budgeting $1.3 billion for upgrades, maintenance and other expenditures. ![]() Southwest Airlines pledged Tuesday to improve its winter operations and modernize its technology following a massive holiday meltdown that spurred the cancellation of nearly 17,000 flights and stranded scores of flyers.
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