Southwest adjusts second quarter guidance

Southwest Airlines adjusted its second quarter guidance, lowering its revenue per available seat mile (RASM) to be down 4.0%-4.5% year-on-year (YoY). It had originally forecast its RASM to be down around 1.5%-3.5% YoY. The airline maintained that its operational performance in the second quarter is “strong” with the RASM decline being driven mostly by “complexities in adapting its revenue management to current booking patterns” in the current environment. “The company remains intensely focused on improving its financial results and creating value for its shareholders,” the company read in its guidance, “as it continues to develop and implement its portfolio of