Southwest Airlines reported a $220 million loss for the fourth quarter after the carrier’s holiday meltdown drove up expenses and cost it millions in revenue during what was expected to be the busiest travel period since the pandemic began.
It forecast a first-quarter loss, citing current “revenue and cost trends,” while analysts have been anticipating a per-share profit of 19 cents for the current quarter, based on estimates compiled by Refinitiv.
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Southwest earlier this month said it canceled around 16,700 flights between Dec. 21 through Dec. 31 after severe winter weather swept through the U.S.