Southwest Airways shares tumble after mass flight cancellations

Passengers queue up on the ticketing counter for Southwest Airways Sunday, Oct. 10, 2021, in Eppley Airfield in Omaha, Neb.

David Zalubowski | AP

Southwest Airways shares tumbled greater than 3% in premarket buying and selling Monday after canceling greater than 2,000 flights since Saturday, disrupting the journey plan of 1000’s of individuals.

Southwest canceled 347 flights on Monday, down from 1,124 on Sunday, which was 30% of its schedule, based on flight-tracking website FlightAware. 

The airline has already mentioned it will trim its fall schedules to keep away from cancellations and delays that plagued its operation throughout the summer season. Now the airline is weighing whether or not it wants to chop extra.

The Dallas-based airline’s president, Mike Van de Ven informed employees late Sunday that Southwest continues to be short-staffed and “we’ll must proceed to regulate our schedules as this atmosphere evolves.

“We have already made vital reductions from our beforehand printed November and December schedules, and if we predict we have to do extra, we are going to,” Van de Ven mentioned in a recorded message to staff, which was reviewed by CNBC.

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