While its peers are slowing growth in flying to address rising fuel costs, Southwest Airlines Co. has an additional reason: a shortage of workers.
The carrier’s second-quarter capacity will decline 7% from 2019 levels “due to challenges with available staffing,” Chief Financial Officer Tammy Romo said Tuesday at a JPMorgan Chase industrial conference. Southwest still hopes to add 8,000 workers in 2022, on the way to hiring 25,000 over three years.
Chief Executive Bob Jordan has said his “No. 1 job” is to hire enough people to stabilize the Dallas-based airline’s flight operations. The company had about 55,000 employees at the end of last year.
Southwest joined other airlines in tweaking first-quarter capacity to gain power over ticket prices, saying Tuesday that it will be down as much as 10% from 2019 on weaker business travel and lingering effects from the omicron coronavirus variant. The company previously projected a decline of 9%.
The airline’s shares rose 3.6% at 12:25 p.m. in New York as the industry rallied.