Southwest says disasters will cut 3Q revenue by $100 million

Markets Associated Press

Southwest Airlines says natural disasters will cut $100 million from third-quarter revenue by causing the carrier to cancel about 5,000 flights.

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The airline said Thursday in a regulatory filing that a closely watched figure of revenue for every seat flown one mile will be flat to down 1 percent for the quarter, compared with a year earlier.

Hurricane Harvey stopped flights at Houston's Hobby Airport, a major outpost for Southwest, for several days. Southwest flights were also canceled because of Irma and Maria in Florida and the Caribbean.

Shares of Southwest Airlines Co. rose 41 cents to $56.29 in midday trading.