Southwest shares collapsed after new flight cancellations
2022.12.27 07:50
Southwest shares collapsed after new flight cancellations
Budrigannews.com – (NYSE:) Southwest Airlines As the airline continues to cancel flights amid the ongoing winter storm, shares are down more than 4% in the pre-market on Tuesday.
It appears to be that no aircraft is battling more to adapt to the feverish occasion plan than Southwest. According to FlightAware data, the company had canceled nearly 3,000 flights by Monday night, or at least 70% of its day’s schedule.
Southwest has canceled more flights than Delta, which is in second place (NYSE:), by more than 10 times. which, as of Monday night, had canceled 265 flights.
Southwest’s actions, which resulted in the cancellation of thousands of flights, will be examined more closely, the US Department of Transportation (USDOT) stated.
According to the department, “USDOT is concerned by Southwest Airlines’ disproportionate and unacceptable rate of cancellations and delays” as well as the company’s “failure to properly support customers experiencing a cancellation or delay.”
“closely examine whether cancellations were controllable and whether Southwest is complying with its customer service plan and all other pertinent DOT rules,” according to the USDOT.
“With consecutive days of extreme winter weather across our network behind us, continuing challenges are impacting our customers and employees in a significant way that is unacceptable,” the airline said in a statement on Monday. It also offered “heartfelt apologies.”
More Airlines continue to cancel flights to U.S.
American Airlines and Delta Air Lines (NASDAQ:) shares likewise United Airlines are up about a tenth of a percent in pre-market trading.
