Southwest Airlines shares slide after airline cuts its revenue outlook following the grounding of its Boeing 737 Max planes and raised its cost outlook.
Southwest Airlines shares slipped 1 percent in premarket trading on Wednesday after the low-cost carrier trimmed its revenue forecast following the grounding of its Boeing 737 Max planes.
Southwest operates an all-Boeing 737 fleet, and has 34 737 Max 8 planes in its fleet of about 750 aircraft. It is a small amount compared with the $5.3 billion in revenue analysts expect Southwest to generate in the first three months of 2019, but investors are focused on how the suspension of the 737 Max planes will financially impact airlines.
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