Trump’s US Govt Shutdown Grounds Southwest Airlines as Q1 Revenues Fall $60 Million

Shares of Southwest Airlines fell sharply on Wednesday after the low-cost carrier disclosed that the government shutdown which lasted for 35 days had a larger impact than previously thought. In a U.S. Securities and Exchange Commission filing, Southwest Airlines indicated that the estimated revenue impact of the shutdown had increased by up to six times. Shares of the low-cost carrier consequently fell by over 5% in early trading to below $55. Southwest Airlines had Expected Negative Revenue Impact, Just not this Big While reporting earnings last month the low-cost carrier had projected a drop in revenue of between $10 to

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