Connect with us

Published

2 years ago

on

Southwest Airlines on Wednesday flagged softer August leisure bookings and joined two other US airlines in warning of higher fuel costs in the third quarter due to a jump in crude prices.

The largest US domestic carrier said August bookings were at the lower end of its expectations, in part due to seasonal trends, but maintained that overall leisure demand and yields remain healthy.

Shares of Southwest fell 4% premarket, before paring some losses to close down 2.6% at $29.97.

The forecast comes as early signs emerge of domestic travel demand weakening, with inflationary pressures hurting consumers even as carriers hand out costly contracts to retain workers.

United Airlines and Alaska Air Group also warned of higher fuel costs in the current quarter as crude oil prices rose for a third straight month in August, amid signs of tightening supply.

In a regulatory filing, United said jet fuel prices have climbed over 20% since mid-July.

The carrier also said it had no imminent plans to move its headquarters to Denver from Chicago after buying 113 acres of land there. Finance Chief Gerald Laderman at the TD Cowen Transportation Conference said the first order of business is the expansion of the flight training center in Denver.

Southwest said it continues to forecast a “solid (third-quarter) profit,” but trimmed its expectations for revenue per available seat mile – a proxy for pricing power – to a 5% to 7% fall, compared with a 3% to 7% fall forecast earlier.

Alaska Air expects a quarterly adjusted pre-tax margin of 10% to 12%, lower than its prior expectation of 14% to 16%.

US airlines do not generally hedge against fuel costs, making them vulnerable to price swings.

“The relatively quick up move in fuel has given the industry little time to respond through fares,” Citi Research analyst Stephen Trent said in a note.

Related Topics:
Continue Reading

Sports

White Sox place Vargas on IL with oblique strain

Published

1 hour ago

on

August 3, 2025

By

White Sox place Vargas on IL with oblique strain

  • Associated Press

Aug 3, 2025, 04:32 PM ET

ANAHEIM, Calif. — The Chicago White Sox placed infielder Miguel Vargas on the 10-day injured list on Sunday because of a left oblique strain.

Vargas, 25, was scratched from Saturday night’s 1-0 victory at the Angels. Vargas, who was acquired from the Dodgers as part of a three-team trade in July 2024, is batting .229 with 13 homers and 44 RBIs in 106 games.

The White Sox also recalled infielder Curtis Mead from Triple-A Charlotte before their series finale against the Angels. Left-hander Bryan Hudson and right-hander Elvis Peguero were claimed off waivers from Milwaukee and assigned to Charlotte.

Mead, 24, came over when the White Sox traded right-hander Adrian Houser to Tampa Bay on Thursday. Mead hit .226 with three homers and eight RBIs in 49 games with the Rays this year.

Continue Reading

Sports

After red flag, White’s 2 HRs let Braves lap Reds

Published

1 hour ago

on

August 3, 2025

By

After red flag, White's 2 HRs let Braves lap Reds

  • Associated Press

Aug 3, 2025, 04:00 PM ET

BRISTOL, Tenn. — Eli White hit a three-run homer and a solo shot, helping the Atlanta Braves beat the Cincinnati Reds 4-2 on Sunday in the rain-delayed MLB Speedway Classic at Bristol Motor Speedway.

White’s first homer of the afternoon gave Atlanta a 3-1 lead in the second inning at the historic racetrack. The ball hit the safer barrier after clearing the outfield wall and the track itself.

He added his sixth homer of the season on a leadoff shot in the seventh.

Cincinnati went 1-for-8 with runners in scoring position and left 12 on base. Brent Suter (1-2) got the loss.

Atlanta came in having clinched the season series, winning four of the first six games. The teams split the first two in Cincinnati before coming to Bristol.

The game was scheduled for Saturday, but it was suspended in the first inning because of persistent rain.

Hurston Waldrep (1-0) was on the mound for Atlanta when play resumed. The right-hander was brought up from Triple-A Gwinnett and traveled about 250 miles to Bristol Motor Speedway early Sunday morning. He pitched 5⅔ innings of one-run ball for his first career win.

Continue Reading

Sports

Brewers’ Miz scratched from start, placed on IL

Published

4 hours ago

on

August 3, 2025

By

Brewers' Miz scratched from start, placed on IL

  • ESPN News Services

Aug 3, 2025, 10:39 AM ET

Milwaukee Brewers All-Star rookie Jacob Misiorowski was placed on the injured list with a left tibia contusion prior to his scheduled start against the Washington Nationals on Sunday.

Misiorowski told reporters that he anticipates missing about two starts and being ready to go after the 15 days. The IL move is retroactive to Thursday.

The right-hander took a liner to the shin off the bat of the Chicago Cubs‘ Seiya Suzuki in the first inning of his last start Monday. Later in the inning, after fielding a dribbler in front of the mound, Misiorowski’s knee buckled as he threw wildly to first and two runners scored.

The 23-year-old Misiorowski stayed in the game, pitching three more innings before coming out after 80 pitches.

Misiorowski is 4-1 with 47 strikeouts in 33⅓ innings this season.

In a related move, the Brewers recalled right-hander Logan Henderson from Triple-A Nashville, and he is expected to start against the Nationals on Sunday.

The Associated Press contributed to this report.

Continue Reading

Trending