Southwest posts record revenue despite holiday meltdown | CNN Business

Southwest Airlines’ passengers have finally returned to the airline following its winter holiday service meltdown, enabling record revenue during the first quarter. The airline said its bookings in March were strong, allowing revenue to soar 22% to $5.7 billion in the quarter. That was up from year-ago results that were still affected by the surge in Covid cases caused by the Omicron variant, and it was also up from the $5.

Weak bookings in January and February caused a $325 million hit to revenue in the quarter. Excluding special items, Southwest posted a loss of $163 million, or 27 cents a share, a bit worse than the 23 cent a share loss forecast by analysts. The airline also warned that Boeing’s delayed deliveries of 737 Max jets would require it to trim its capacity by 1% below its previous plan.

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