
Southwest Airlines shares plummeted after large-scale flight cancellations
Passengers line up at the Southwest Airlines ticket counter at Eppley Airport in Omaha, Nebraska on Sunday, October 10, 2021.
David Zarubovsky | Associated Press
Since Saturday, Southwest Airlines has cancelled more than 2,000 flights, disrupting the travel plans of thousands of people. In pre-market trading on Monday, Southwest Airlines’ stock price plummeted by more than 3%.
According to flight tracking website FlightAware, Southwest Airlines cancelled 347 flights on Monday, down from 1,124 on Sunday, and accounted for 30% of its plan.
The airline has said it will cut its autumn flight schedule to avoid cancellations and delays that plague its operations during the summer. Now the airline is weighing whether it needs to cut more.
Mike Van de Ven, the president of the Dallas-based airline, told employees on Sunday night that Southwest Airlines is still understaffed, “As the environment develops, we need to continue to adjust our flight schedules.
If you want to know more about business please go to https://updatednews24.com/category/business/
More Stories
Why it’s bad news for the entire market when Apple has a big drop
[ad_1] Apple stock is down over 8% this week, wiping off about $200 billion in value, and dragging down the...
Robinhood shares pop more than 30% after Sam Bankman-Fried buys 7.6% stake
[ad_1] Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The...
Franklin Templeton CEO Jenny Johnson says active management pays off during extreme volatility
[ad_1] (Click here to subscribe to the Delivering Alpha newsletter.)With $1.5 trillion in assets, Franklin Templeton is among America's top...
Hedge fund winners and losers emerge in brutal tech-driven sell-off
[ad_1] The stock market is going through a period of uncertainty and volatility, but some sectors could benefit from that.Timothy...
Twitter market cap has dropped to $9 billion below Musk purchase price
[ad_1] The Twitter logo and trading information is displayed as a trader works on the floor of the New York...
Capitol riot probe subpoenas Trump House GOP allies Kevin McCarthy, Jim Jordan
[ad_1] House Republican Leader Kevin McCarthy (R-CA) listens to fellow Republican House members speak about US President Joe Biden's first...