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Southwest Air Shares Jump on Turnaround Plan, Stock Buyback [Yahoo! Finance]
Last american airlines group, inc. earnings: 4/30 07:30 am
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Most Read from Bloomberg The airline will begin selling assigned seats late next year and introduce a premium fare option offering extra leg room, according to a statement Thursday. The changes break from tenets that helped set Southwest apart for decades, after the carrier was slow to embrace the industry's push to capture growing demand for premium flying options. Other Southwest hallmarks will endure, however. The carrier said it has no plans to introduce fees on checked luggage, sticking with the “bags fly free” policy that executives believe keeps customers loyal. The disclosures were part of a wide-ranging investor update as Southwest also set a new $2.5 billion share repurchase program, raised its third-quarter sales forecast and said it added former airline executive Robert Fornaro to its board. Southwest's shares rose 7.3% as of 3:10 p.m. in New York after an earlier jump of 11%, the biggest intraday gain since November 2020. Rival carriers also saw gains, with Ameri
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