We’re mere days away from the end of the second quarter, and Southwest Airlines has filed an SEC 8-K updating its projections of how the quarter will go. Things are bloody. Their previous ‘worst case scenario’ was projecting a 3.5% year-over-year drop in revenue per available seat mile. That’s bad, and a big part of why Southwest is scrambling to change its business model, for instance considering seat assignments and premium seating. But things are worse than they’d previously suggested – a range of down 1.5% – 3.5%. They now say it’ll be down 4% – 4.5%. That’s on increased capacity, where their guidance hasn’t changed. I suppose they can only be thankful for Boeing delivery delays – without which there’d be more capacity and even lower revenue per available seat mile. While they aren’t…
