Southwest Plans To Reduce Capacity, Reevaluate 2024 Financial Outlook On Delivery Delays From Boeing

(Ass0ciated Press) – Shares of Southwest are plunging as the airline said that it plans to reduce capacity and reevaluate its full-year financial outlook because of fewer expected aircraft deliveries from its supplier, Boeing.

Southwest Airlines said in a regulatory filing that Boeing expects to deliver 46 737-8 planes this year.

The company previously anticipated 79 737 Max aircraft deliveries, which included 58 737-8 planes.

Southwest said that it now assumes there will be no 737-7 aircraft deliveries and continues to assume no -737-7 planes will be placed into service this year based on the current certification status with the Federal Aviation Administration.