Southwest Airlines Boeing 737 MAX aircraft will be deployed on the runway at the Southern California Logistics Airport in Victorville, California, on March 28, 2019.
Mark Ralston | AFP | Getty Images
Southwest Airlines' shares fell Thursday after the low-cost airline announced it would not fly the grounded Boeing 737 Max until next year, warning of unexpectedly high costs and announcing its withdrawal from Newark Liberty International Airport.
The airline has canceled Max from their flight schedules until 5 January. This is the last US airline and a sign that airlines are struggling with repeated delays in recommissioning the aircraft. The Boeing 737 Max has been down since mid-March after two fatal accidents. Southwest has more maxes than any other airline ̵
Southwest stocks down 5% in premarket trading after $ 5.9 billion in second-quarter revenue was slightly below estimates The Dallas-based airline announced that it would reduce its capacity due to "significant." Delays "at the max. Would decrease by up to 2% compared to a growth forecast of around 5% would return the aircraft in the service.
"As such, we are taking the necessary steps to mitigate damage and optimize our aircraft and resources," Southwest's earnings statement said.
From November 3, Southwest will no longer operate from Newark, where United dominates and consolidates Operation in New York is operated from LaGuardia Airport in Queens.
Southwest reported that operation in Newark was not profitable enough and that LaGuardia's demand was strong At the end of June, 20 daily departures from New Jersey Airport were offered in 10 cities, including Denver, San Diego and Chicago.
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