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.
Idris Elba will join the prime minister to launch a new anti-knife crime coalition in Downing Street on Monday.
The actor and musician, 52, will attend what is set to be the first annual knife crime summit with Sir Keir Starmer and Home Secretary Yvette Cooper on Monday morning.
As an anti-knife crime campaigner, he will help bring together community groups and victims’ families who have first-hand experience that can be used to change policy.
With the help of the coalition, which will include his Elba Hope Foundation, the government hopes to halve knife crime over the next 10 years.
It is currently in the process of banning ninja swords and strengthening the law on online knife sales.
As well as community leaders and grassroots organisations, the coalition will include tech companies, sports groups, and representatives from the NHS, education sector, and the police, the government said.
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As the former Director of Public Prosecutions, Sir Keir says he “saw first-hand the devastating impact knife crime has on young people and their families”.
Describing it as a “national crisis that we will tackle head-on” he reiterated Labour’s promise to halve offences over the next decade.
A rapid review into how knives are sold and delivered to under-18s online is being led by Commander Stephen Clayman, the national policing lead for knife crime.
As part of the new coalition, he will report back to the home secretary by the end of the year.
He warned that “knives are far too easily accessible” and that he hopes to work with “government, retailer and the third sector to find ways we can bring meaningful, long-term change”.
Home Secretary Ms Cooper described the coalition as “crucial” and promised: “We will not sit back while precious lives are being lost and young people’s futures destroyed.”
The launch of the coalition and summit is part of the government’s 10-year plan on knife crime and builds on the Home Office’s Young Futures programme, which is working to offer young people a path away from violence.
With the first-pitch temperature of 103 degrees matching the hottest in Dodger Stadium history, Ohtani hit a 450-foot solo shot down the right-field line off Tanner Bibee in the fifth inning that was reviewed to see if it was fair.
Ohtani has 22 450-foot home runs for his career, all coming since 2021. That’s five more than any other player over that span.
Ohtani also hit 46 home runs in 2021 for the Los Angeles Angels in his unanimous AL MVP season. The Japanese star has 46 stolen bases in a bid to become the first major league player with a 50-50 season.
He’s also one home run shy of tying Cody Bellinger in 2019 for the third-most homers in a season in Dodgers history.
Ohtani finished the day 2-for-4. He was picked off first base in the third inning.
As far as the scorching temperature, it also was 103 for the first pitch of Game 1 of the 2017 World Series against Houston. On Sunday, the Dodgers made a voucher available to all fans for a free bottle of water.
Jack Flaherty went 7⅓ innings, striking out six and allowing four hits. The Southern California native is 5-1 since coming over in a trade with Detroit.
Max Muncy homered for the Dodgers in the eighth, his 12th of an injury-shortened season.
In Dodgers injury news, pitcher Gavin Stone (right shoulder inflammation) will not throw for 10 days and then build back up and see where he’s at, according to manager Dave Roberts. His status for the postseason is certainly in question with 19 games remaining.
ESPN Research and The Associated Press contributed to this report.
Baseball Hall of Fame member Wade Boggs has prostate cancer.
The former third baseman made the announcement Saturday night on social media and sounded optimistic, saying he will be ready to take part in the ritual cancer patients have of ringing a bell when they have concluded their treatment.
“With the strength and support of my family and my faith in God I’m going to ring that damn bell,” Boggs wrote, adding a photo of a prostate cancer patient guide.
A five-time batting champion and 12-time All-Star, Boggs was elected to the Hall of Fame in 2005 on the first ballot, garnering votes on 91.9% of ballots.
The Hall of Fame sent good wishes, posting to social media, “We’re with you every step of the way, Wade!”
In his career, Boggs hit .328 and joined the 3,000-hit club, finishing with 3,010 to go with 1,513 runs, 118 homers and 1,014 RBIs.
Boggs’ contemporary and fellow 2005 enshrinee Ryne Sandberg said in mid-August that he was cancer-free following treatment for metastatic prostate cancer.
“Rang the Bell this morning!” Sandberg wrote. “WE did it, WE won! What a Dream Team, family, doctors, friends, nurses, fans who supported myself and [wife] Margaret through the last 8 months! We feel so blessed from all the love, prayers and thoughts and positive words that have come our way!”