Southwest Airlines Stock News

Southwest Airlines Co.'s stock reversed early losses to trade slightly higher Wednesday, after the carrier lowered its second-quarter revenue guidance in a dynamic environment.

Southwest said the revenue per mile outlook is worsening mostly due to the difficulty of adapting its pricing to “current booking patterns in this dynamic environment.”

Southwest Airlines (LUV) shares fell Wednesday as the carrier slashed its guidance because of softer bookings.

WEST PALM BEACH, Fla. , June 26, 2024 /PRNewswire/ -- Elliott Investment Management L.P.

Southwest Airlines Co (NYSE:LUV) cut its fiscal second-quarter forecast today, as the industry struggles to predict demand trends.

Southwest Airlines Co (NYSE:LUV) stock fell more than 3% after the airline cut its second quarter revenue forecast and projected higher expenses. It now expects revenue per available seat mile, how much it brings in for every seat if it flies one mile, will be down between 4% and 4.5% year-over-year, up from its earlier forecast of a drop between 1.5% and 3.5%.

Southwest Airlines Co (NYSE: LUV) is facing a turbulent start to the day, with its stock trading down 4% in pre-market trading. The sharp decline comes after the company revised its Q2 2024 revenue forecast, expecting a year-over-year decline in revenue per available seat mile (RASM) of 4.0% to 4.

Southwest cut its second-quarter revenue forecast, citing changing booking patterns. The airline also said its unit expenses, excluding fuel, would be up as much as 7.5% over the year earlier period.