Southwest Airlines Revises 2024 Financial Forecast Due to Boeing Issues

Southwest Airlines is cutting its capacity plans and reevaluating its financial forecasts for 2024 due to delivery delays from Boeing, its sole supplier of airplanes. Boeing informed Southwest that it should expect 46 Boeing 737 Max 8 planes this year, down from the expected 79, leading to a reevaluation of full-year 2024 guidance. This is the latest sign of how Boeing's production problems are impacting its customers, with Southwest's shares down more than 5% in premarket trading and the airline reporting weaker-than-expected leisure bookings in the first quarter.