Southwest Airlines Cuts Profit Forecast Amid Rising Fuel Costs
Southwest Airlines has lowered its third-quarter profit forecast, citing a significant and recent surge in jet fuel prices. The carrier now anticipates fuel costs to be between $2.70 and $2.80 per gallon, an increase from its previous estimate of $2.55 to $2.65. CEO Bob Jordan confirmed the adjustment in an investor conference. Despite this financial headwind, the airline noted that leisure travel demand remains strong, in line with expectations. However, the unexpected rise in fuel expenses has directly impacted the company's earnings per share outlook for the quarter.
Official Source: https://www.thestreet.com/investing/stocks/luv-southwest-airlines-ceo-warns-fuel-costs-dampen-eps
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