Southwest Stock Plunge Drags Down Airlines on Fare Weakness
- Carrier’s revenue forecast shows deterioration, analyst says
- Equipment failure caused disruptions still affecting flights
Southwest CEO Kelly: Worst Is Behind Us on Tech Outage
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Southwest Airlines Co. fell the most in seven years and sent airline shares tumbling with a bleak view that sharper competition will drive down airfares more than in previous quarters.
Prices have been softening all year and the discount carrier has seen particular weakness in tickets sold just before travel over the past several weeks, Southwest Chief Executive Officer Gary Kelly said in an interview Thursday.