Shares of Southwest Airlines Co. declined on Tuesday's premarket after the company revealed that it anticipates incurring a net loss during the first quarter of 2024.
According to the report, the airline aims to regain profitability by March. "Adjustments in operational plans, including halting for certain positions and a reduction in expected aircraft deliveries from Boeing, are part of efforts to navigate current challenges and drive long-term financial success."
The airline's stock dropped 6.93% to $31.73 apiece in the premarket hours.
