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Southwest flight cancellations nightmare could cost more than $800 million
Monday, 06 Jan, 2023
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Southwest Airlines’ flight cancellations meltdown could cost the airline as much as $825 million.
It could lead to a fourth quarter loss, the airline said
It said the financial hit to cancelling 16,000 flights will amount to between $725 million and $825 million.
It includes ticket refunds and compensation for added expenses.
Southwest shares have lost 8% of their value since the start of the flight cancellations.
The airline could also be hit with DOT fines.
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