Southwest Airlines Co expected a hit from the new coronavirus outbreak.
WASHINGTON (Reuters) - Southwest Airlines Co (LUV.N) said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
Shares of the company fell 3%, while with those of bigger rivals fell more. American Airlines Group Inc (AAL.O) fell more than 11%, United Airlines Holdings Inc (UAL.O) was down 10% and Delta Air (DAL.N) fell 7%.
Southwest said it has seen a significant rise in ticket cancellations and decline in traffic because of the outbreak, which has killed over 3,000 people and caused airlines across the world to cut flights and implement cost controls.
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