Southwest Airlines Co. on Tuesday outlined a plan to strengthen its operational resilience after a winter storm late last year led to widespread cancellations and delays.
"We understand the root causes that led to the holiday disruption, and we're validating our internal review with the third-party assessment. Now, we expect to mitigate the risk of an event of this magnitude ever happening again," said CEO Bob Jordan. "Work is well underway implementing action items to prepare for next winter—with some items already completed."
The three-part plan comes after an internal review conducted with aviation consultancy Oliver Wyman. The effort will supplement an existing five-year modernization plan that began in 2022 and has already put aside $1.3 billion for new software and information technology.
In addition, the airline will purchase more winter equipment and vehicles, such as de-icing trucks for runways and engine covers and heaters for cold weather operations. It also plans to increase staffing around the winter season and increase cross-team collaboration.
"I'm confident in our path forward and truly believe our best days are ahead," said Andrew Watterson, chief operating officer for Southwest Airlines.
The airline said it will share more details from its internal review in the coming weeks.
Microsoft has announced that it's hired Sam Altman and another co-founder of ChatGPT maker OpenAI after they unexpectedly departed the company days earlier in a corporate shakeup that shocked the artificial intelligence world.
Many factors lie behind the disconnect, but economists increasingly point to one in particular: The lingering financial and psychological effects of the worst bout of inflation in four decades.
Advertisers are fleeing social media platform X over concerns about their ads showing up next to pro-Nazi content, hate speech on the site in general or billionaire owner Elon Musk’s own posts endorsing an antisemitic conspiracy theory.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
The board of ChatGPT-maker Open AI said Friday it has pushed out its co-founder and CEO Sam Altman after a review found he was “not consistently candid in his communications” with the board.
