PHOENIX — Southwest Airlines is following the lead of other airlines in suspending 2020 financial guidance and slashing capacity as the coronavirus takes an unprecedented toll on commercial aviation.
Dallas-based Southwest Airlines Co. (NYSE: LUV) has recently experienced several days of net negative bookings. That means it's had more cancellations than new bookings, particularly for its schedule in March and April, the company said in a regulatory filing Monday afternoon.
Southwest is the second largest carrier at Phoenix Sky Harbor International Airport, behind American Airlines.
Southwest is doing several things to combat the dropoff, including an at least 20-percent capacity reduction between April 14 and June 5. Southwest noted these capacity reductions are in addition to the already smaller schedule it was flying because of the grounding of the 737 Max.
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