Southwest Airlines , the largest U.S. discounter, reports Thursday and investors will be hoping for something unexpected to arrest the stock’s recent slide. The shares have fallen 38% since their July peak, and are 28% down in 2023. Spirit Airlines is also expected to release earnings Thursday, along with Frontier Group .
That’s because the summer peak travel season is now a distant memory. International travel has surged in 2023 as this summer was the first full peak season in which Americans could travel overseas without any Covid requirements since 2019. “This is a broken record, but we expect higher labor, fuel and maintenance costs to continue to weigh on and pressure earnings in the current quarter and then into 2024,” TD Cowen analyst Helane Becker said in a preview of this week’s airline earnings.
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