American and Southwest Airlines Report Losses Amid Rising Labor Costs
Southwest faces additional challenges with Boeing production issues, while American forecasts a loss in Q1 2024 but overall profit for the year.
- Southwest Airlines and American Airlines report losses, struggling with rising labor costs.
- American Airlines' fourth-quarter profit fell sharply, earning $19 million, down from $803 million a year earlier.
- Southwest Airlines posted a loss of $219 million in the fourth quarter, nearly identical to its results in the same quarter a year earlier.
- Southwest Airlines expects to receive fewer new planes this year due to ongoing production problems at Boeing.
- American Airlines expects to lose between 15 cents and 35 cents per share in the first quarter of 2024, but forecasts earnings between $2.25 and $3.25 per share for all of 2024.
Associated Press 
CNBC 
