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.
Between corporate debt and the widening gap between ‘the haves and the have nots,’ there are reasons to be cautious about the economy, even with interest rate cuts on their way.
If the A.I. hype hasn’t given you enough of a reason to be excited (and a little terrified), the CEO of Zapata AI says the next frontier is designing bridges or creating pharmaceutical drugs.
Stocks are near record highs, inflation is moderating, and analyst Deiya Pernas is 'optimistic' the U.S. is heading for a soft landing without a recession – which is good news for your wallet.
Google co-founders Larry Page and Sergey Brin loved pulling pranks, so much so they began rolling outlandish ideas every April Fools' Day not long after starting their company more than a quarter century ago.
Sam Bankman-Fried co-founded the FTX crypto exchange in 2019 and quickly built it into the world’s second most popular place to trade digital currency. It collapsed almost as quickly — by the fall of 2022, it was bankrupt.
The economic effects of the Baltimore bridge collapse, Americans are living longer but not better, and Gen Z and millennials are struggling to afford rent, let alone a mortgage.
