Boeing 737 Max grounding costs Southwest US$828m in 2019
Southwest Airlines says that it lost almost a billion dollars in operating income due to the grounding of the Boeing 737 Max aircraft, as it joins other airlines in scrambling to find capacity and make up for the jet’s ongoing problems. “I am confident about the Max, and our pilots are confident about the Max,” CE Gary Kelly said Thursday. “The timing remains uncertain, and we are working through all that right now.” Kelly says that 2019 full-year operating profit was US$828m – or 28% - lower than had the Max been flying in the airline’s all-737 fleet. The carrier’s net profit in the full year 2019 fell to $2.3b from $2.4b in 2018. In the final quarter of 2019, net profit hit $514m, down 21% from $654m in the same quarter a year ago. Full-year revenues rose to $22.4b from $21.9b, up 2.1%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-01-24/unaligned/boeing-737-max-grounding-costs-southwest-us-828m-in-2019
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Boeing 737 Max grounding costs Southwest US$828m in 2019
Southwest Airlines says that it lost almost a billion dollars in operating income due to the grounding of the Boeing 737 Max aircraft, as it joins other airlines in scrambling to find capacity and make up for the jet’s ongoing problems. “I am confident about the Max, and our pilots are confident about the Max,” CE Gary Kelly said Thursday. “The timing remains uncertain, and we are working through all that right now.” Kelly says that 2019 full-year operating profit was US$828m – or 28% - lower than had the Max been flying in the airline’s all-737 fleet. The carrier’s net profit in the full year 2019 fell to $2.3b from $2.4b in 2018. In the final quarter of 2019, net profit hit $514m, down 21% from $654m in the same quarter a year ago. Full-year revenues rose to $22.4b from $21.9b, up 2.1%. <br/>
