Southwest Airlines Posts Solid Quarter Despite Heavy Exposure to Boeing's MAX
If there's one thing long-term investors love to see, it's resilience in the face of adversity. Southwest Airlines (NYSE: LUV) managed that last year, the results evident after the company capped another banner year of performance. Let's dive into the key takeaways from Southwest's fourth quarter and full-year 2019 results to get a better sense of the company's handling amid a crisis.
2019 was a great example of how solid management and a great balance sheet can help lead a company through the rough times. "This is our 49th year and there, at least in my experience, there is no more remarkable year than 2019," said CEO Gary C. Kelly during the fourth-quarter conference call, continuing:
The grounding of effectively 75 of our airplanes which is about 10% of our fleet presents a crisis like challenge, and our people are ready for it with the best planning, tools and technologies in our history, but more importantly with the right fortitude and the right resolve to get through this crisis.
Source Fool.com
