Southwest says 737 Max grounding is cutting into its profit margin - News Summed Up

Southwest says 737 Max grounding is cutting into its profit margin


March 27, 2019, 11:25 AM GMT By Lucy Bayly and ReutersSouthwest Airlines said on Wednesday the recent groundings of Boeing 737 Max planes would lead to its first-quarter revenue per available seat mile coming in below its previous forecast. It is the first carrier to provide a formal change to its financial forecasts since the recent crash of Boeing's new jet. Southwest has 34 of the planes in its fleet of about 750 Boeing 737s, more than any other U.S. airline. The news comes just one day after the airline said a Boeing 737 Max 8 plane — the same model that the Federal Aviation Administration grounded after two recent crashes — made an emergency landing at Orlando International Airport on Tuesday afternoon. Boeing grounded its entire fleet of 737 Max jets after investigators found that an Ethiopian Airlines aircraft that crashed March 10 had a flight pattern very similar to a Lion Air flight that went down in Indonesia in October.


Source: Ethiopian News March 27, 2019 11:15 UTC



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