DOT Probes Southwest Airlines' December Schedule Chaos: Report - Southwest Airlines (NYSE:LUV)

Southwest Airlines Co LUV is reportedly being probed by the U.S. Transportation Department on its holiday schedule mayhem in December 2022.
The agency will probe whether Southwest executives sold more flights above its operating capacity, the WSJ reported.
The investigation's initial phase will examine whether LUV engaged in unfair and deceptive practices. It will also monitor the refund being offered to affected consumers.
Southwest canceled over 16,700 flights from December 21 through December 31, slashing nearly two-thirds of its flights for three days.
The debacle initially thought to be caused by the severe winter storm that swept across the U.S., later turned into mismanagement.
U.S. Transportation Secretary Pete Buttigieg called the flight schedule chaos as a system failure.
"DOT will leverage the full extent of its investigative and enforcement power to ensure consumers are protected, and this process will continue to evolve as the Department learns more," the report cited a spokeswoman.
Price Action: LUV shares are trading lower by 2.71% at $35.87 in premarket on the last check Thursday.
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