Southwest Airlines saw its best revenue growth in 18 months during the first quarter of 2019 despite the grounding of Boeing 737 Max 8 jets, severe weather and a debacle with its mechanics union that led to the cancellation of thousands of flights, according to the company's filing with the Securities and Exchange Commission Thursday.
The airline reported that operating revenue grew 4.1 percent year over year for a record $5.1 billion in the first quarter. Additionally, losses from the cancellation of around 10,000 flights due to the ground of the 737 Max 8 held at $150 million.
CEO Gary Kelly attributed the strong first quarter results to the low-cost airline's resiliency.
"I am especially proud of our nearly 60,000 Employees for the commendable job under operationally difficult circumstances," Kelly said in a statement.
The company underscored that it is working to minimize the impact the 737 Max grounding has on its flight schedule while proactively removing all flights on the aircraft through August 5. The Federal Aviation Administration's timeline for re-authorizing the 737 Max 8 is still uncertain.
