Southwest Airlines (LUV) Stock Drops: What Should You Know About The Global Cancellation Of The Flights?

The stock was trading at $48.06 starting from September 10 to September 20 with the small changes in price. However, then it began to continuously gain and reached $55.56 on October 4, which can be considered as the higher one during the last month. After this peak, it declined a little bit and became $53.91 for today. It was announced that the company had canceled about 1800 flights on Sunday and Saturday.

Only on Sunday, it has canceled approximately 1100 flights which is more than 30% of the schedule of the company. However, it did not stop the cancellation, and today, about 348 flights were canceled as well. According to the statement of the company, the main reason is the bad weather and some air traffic control in Florida. Because of the terrible weather, the Federal Aviation Administration had to utilize the air-traffic management program which has resulted in the cancellation of the flights and helping the passengers who were in difficult cases. 

Agneta Johansen

Agneta is still enjoying her trips to Asia and Africa while she works at Own Snap as an author and reporter. Very soon she will settle somewhere in Europe and run her startup enterprise.