In its fiscal first quarter, Southwest Airlines Co. (LUV) incurred a pre-tax net loss of approximately $380 million ($294 million after-tax) due to the December 2022 operational disruption. Travel cancellations and reduced bookings in January and February caused a $325 million revenue decline for the quarter.
Despite the disappointing first-quarter bottom line, March saw a significant improvement in travel demand and revenue, resulting in a profitable month and record-breaking first-quarter sales. Managed company revenues increased significantly in March, nearly approaching levels observed in March 2019.
