Southwest Ups Loss From Holiday Meltdown To $1.2B

Axios reports:

Southwest Airlines has been in damage-control mode since its December holiday meltdown, working to defend its reputation. Now, that episode has an actual price tag.

The airline said today the snafu cost it $800 million in the fourth quarter, driving it to a net Q4 loss.

And it expects to take another $300 million to $350 million hit to revenue for the current quarter as well: Canceled return trips from those nixed flights bled into January, and bookings are lower than usual for February, it said.

Read the full article. Earlier this month Southwest projected that the total loss would be around $825 million.