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Fly News Breaks for June 15, 2018
LUV
Jun 15, 2018 | 08:13 EDT
As reported earlier, Argus analyst John Staszak downgraded Southwest Airlines to Hold from Buy, saying that despite being well managed and financially strong, its focus on the domestic market will lead to slower relative growth based on better expected performance in the international space. The analyst also anticipates Southwest to experience reduced near-term demand following the April accident which led to the death of one passenger, even as 2018 revenue benefits from the "sale of boarding slots, improvements in the frequent-flier program, a new reservation system, and a new credit card agreement with Chase". Staszak also lowers his FY18 EPS forecast to $4.70 from $4.90 and FY19 forecast to $5.20 from $5.50.
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