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Why Southwest Airlines Is Trading Lower Today

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Why Southwest Airlines Is Trading Lower Today

Southwest Airlines (NYSE: LUV) shares are trading lower on Thursday after the company reported worse-than-expected second-quarter EPS and guided August operating sales down 70%-80%.

The company has warned that travel demand will be weak until a coronavirus vaccine is made.

Southwest Airlines is the largest domestic carrier in the U.S, as measured by the number of originating passengers boarded. Southwest operates over 700 aircraft in an all-Boeing fleet.

Despite expanding into longer routes, the airline still specializes in short-haul flights, using a point-to-point network. The firm employs almost 61,000 workers and generated over $22 billion in revenue during 2019.

Southwest Airlines shares were trading down 2% at $32.61 on Thursday at the time of publication. The stock has a 52-week high of $58.83 and a 52-week low of $22.46.

 

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