A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019. REUTERS/Mike Blake ReutersBy Rachit Vats and Sanjana Shivdas(Reuters) - Southwest Airlines Co on Wednesday was the first major airline to formally cut its financial outlook for the year after being forced to pull its new fleet of 34 Boeing 737 MAX planes out of service. Southwest said of its expected cancellations, about 3,800 would be weather-related and about 2,800 due to unscheduled maintenance disruptions and the grounding of the 737 MAX 8. While shares of the world's biggest plane manufacturer have fallen around 12 percent since the March 10 crash, Wall Street has been slow to predict major financial implications. "We still see a tough Q1, marred by the government shutdown, weather, and MAX grounding; and Q2 will be affected through at least April, probably longer," he said.

Source: Ethiopian News March 27, 2019 10:56 UTC