Canceled Holiday Flights , Will Cost Southwest Airlines , Over $800 Million .<br />Southwest Airlines holiday breakdown will cost <br />the air carrier as much as $825 million and <br />result in a net loss for the fourth quarter.<br />Southwest Airlines holiday breakdown will cost <br />the air carrier as much as $825 million and <br />result in a net loss for the fourth quarter.<br />In October, Southwest CEO Bob Jordan <br />predicted the airline would , “generate strong profits and <br />margins in fourth quarter.”.<br />In October, Southwest CEO Bob Jordan <br />predicted the airline would , “generate strong profits and <br />margins in fourth quarter.”.<br />In October, Southwest CEO Bob Jordan <br />predicted the airline would , “generate strong profits and <br />margins in fourth quarter.”.<br />'Forbes' reports that the airline says 17,000 canceled <br />flights over ten days cost the company between <br />$400 and $425 million in lost revenue.<br />'Forbes' reports that the airline says 17,000 canceled <br />flights over ten days cost the company between <br />$400 and $425 million in lost revenue.<br />'Forbes' reports that those losses come on top of <br />reimbursements to passengers for expenses like <br />transportation, hotels, meals and lost luggage.<br />The airline is also offering passengers 25,000 <br />Rapid Rewards points as a peace offering for anyone <br />whose flight was canceled or delayed over three hours.<br />According to 'Forbes' the fallout from the debacle is <br />expected to trickle into future quarters as many of the <br />expenses will not be recorded until they are processed.<br />Meanwhile, the incident has added to calls <br />for stronger consumer protections to <br />safeguard confidence in U.S. air travel.<br />Senate, Commerce Committee chair Maria Cantwell <br />said that members of the committee will hold , "hearings for FAA reauthorization to <br />examine how to strengthen consumer <br />protections and airline operations.”.<br />'Forbes' reports that shares in Southwest <br />are currently down 3% over last month <br />and down 22% compared to 2021
