Southwest says holiday scheduling fiasco will cost it $800 million
Southwest Airlines says its holiday flight cancellation debacle will cost the company up to $825 million as it processes refunds for customers and prepares to upgrade its scheduling software, which is projected to be a pricey endeavor. The airline canceled more than 16,700 flights over the busy holiday travel period, affecting hundreds of thousands of passengers in an episode sure to reverberate for a long time to come. Southwest expects the operational disruptions to result in a net loss of between $725 million and $825 million in the fourth quarter of 2022, it said in a securities filing.
Roughly $400 million is estimated revenue lost from canceled flights. The remainder reflects the total amount the airline expects to spend on reimbursing ...
