Southwest Airlines shares tumble after mass flight cancellations
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Southwest Airlines tickets are available at Eppley Airfield near Omaha (Neb.) on Sunday October 10, 2021.
David Zalubowski | AP
Southwest AirlinesPremarket trading on Monday saw shares fall more than 3 percent after more than 2000 flights were cancelled since Saturday. This disrupted the travel plans of many thousands.
Southwest cancelled 347 flights on Monday. That’s 30% more than the 1,124 flight cancellations on Sunday. According to FlightAware tracking site FlightAware.
To avoid the cancellations and delays during the summer, the airline already stated it would reduce its fall schedule. It is now assessing whether further reductions are necessary.
Mike Van de Ven, the president of Southwest Airlines from Dallas, told employees late Sunday that Southwest was still short-staffed. He also said that Southwest will need to adapt its schedules to meet changing conditions.
Van de Ven indicated that they had already reduced our December and November schedules by significant amounts, but if necessary, they will do so in an audio message sent to employees. This was then reviewed and approved by CNBC.
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