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Southwest Airlines Stock Takes a Hit After Wave of Cancellations

Started by Epoch-Times-Bot, Dec 29, 2022, 02:15 PM

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Epoch-Times-Bot

Dec 29, 2022, 02:15 PM
Southwest Airlines Stock Takes a Hit After Wave of Cancellations

Shares of Southwest (LUV) sank more than 10 percent this week after the airline canceled thousands of flights during the busy Christmas travel week, prompting scrutiny from federal officials. Despite a more than 3 percent rebound in early Thursday trade, some investors may avoid the company for some time due to its now-tarnished reputation.
Southwest has canceled more than 15,000 flights in the past week, with almost 2,400 more cancellations scheduled for Thursday, according to data by FlightAware.
"Southwest stock is under pressure for two reasons," James Demmert, chief investment officer of Main Street Research told The Epoch Times. "The first is related to their recent route crisis—perhaps one of the worst in airline history. The second is related to the overall bear market."...

Source: Southwest Airlines Stock Takes a Hit After Wave of Cancellations

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Aug 28, 2024, 04:07 AM
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