7/25, 3:19 PM (Source: TeleTrader)
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Southwest to cancel 737 MAX flights until 2020

United States carrier Southwest Airlines Co. will extend its cancellation of Boeing 737 MAX flights until next year, it announced in a press release on Thursday.

In its second-quarter earnings report, the airline said that it was "proactively" extending the cancellations on the assumption that Boeing's troubled aircraft would obtain regulatory approval in the fourth quarter of this year. It previously anticipated that the MAX would return to service in October. The carrier also confirmed that it would be ceasing operations from New York's Newark airport from November 3.

Southwest also reported that its revenue in the second quarter amounted to $5.9 billion, which was an annual increase of 2.9% but still failed to meet market expectations. Its earnings per share also rose to $1.37 compared to $1.27 for the same quarter last year.

Breaking the News / DZ