Max grounding cost Southwest USD800 million in 2019
Southwest Airlines took a significant financial hit because of the Boeing 737 Max grounding last year.
The airline estimates it has lost $828 million due to the Max crisis through 2019.
The airline’s 34 Max jets have sat idle since March 2019 and there are another 27 which came off the production line and are ready to fly once the grounding is lifted.
In fact, it had planned to have 75 Max aircraft by now but for the grounding and subsequent production slowdown.
Max production was recently halted but may restart in the second quarter of this year.
"We are also monitoring the used 737 aircraft market because seat growth is not keeping up with demand and we are losing share. We plan to aggressively recapture that once the Max is ungrounded," CEO Gary Kelly said.
It isn’t planning to lease or buy any aircraft just yet, but may have to if it drags on for several months more.
Boeing recently said it could be summer before the aircraft is cleared for flight again, although the FAA hinted it may be sooner than this.
"I am confident about the Max, and our pilots are confident about the Max. The timing remains uncertain, and we are working through all that right now," Kelly added.
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