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MarketScreener Homepage  >  Equities  >  Nyse  >  Southwest Airlines    LUV

SOUTHWEST AIRLINES

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Southwest Airlines : to share $125M from Boeing settlement with workers

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12/12/2019 | 08:03am EST

DALLASSouthwest Airlines will share about $125 million from a Boeing settlement with its workers.

The Dallas carrier has been among the hardest hit by the grounding of Boeing's Max 737 airplanes in March after a pair of deadly crashes. Without the planes, Southwest has said that it will cancel about 175 flights each weekday. Southwest had 34 MAX planes when they were grounded and had expected more to be delivered this year

Earlier this month, the airline pushed back the return date for the troubled aircraft. The planes will not be included on flight schedules until at least March 6, a month longer than previously planned, citing continued uncertainty.

The airline said Thursday that the money given to employees will be funded as part of its annual 2019 profit sharing distribution next year. Southwest workers will also find out next year more details on the percentage of money they will receive.

The settlement details with Boeing are confidential.

Southwest Airlines Co. is in ongoing talks with Boeing Co. about compensation for damages related to the Max groundings.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) -2.00% 316.6 Delayed Quote.-0.83%
SOUTHWEST AIRLINES -0.53% 56.25 Delayed Quote.4.21%
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Financials (USD)
Sales 2020 23 394 M
EBIT 2020 3 080 M
Net income 2020 2 378 M
Finance 2020 1 270 M
Yield 2020 1,35%
P/E ratio 2020 12,2x
P/E ratio 2021 10,3x
EV / Sales2020 1,21x
EV / Sales2021 1,14x
Capitalization 29 603 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 58,68  $
Last Close Price 56,25  $
Spread / Highest target 19,1%
Spread / Average Target 4,33%
Spread / Lowest Target -14,7%
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Managers
NameTitle
Gary C. Kelly Chairman & Chief Executive Officer
Thomas M. Nealon President
Michael G. Van de Ven Chief Operating Officer
Tammy Romo CFO, Principal Accounting Officer & Executive VP
Kathleen A. Wayton Senior VP, Chief Information & Technology Officer