Southwest will limit hiring and drop 4 airports after posting 1st quarter revenue loss; American Airlines posts 1Q loss as well [Video]

DALLAS — Southwest Airlines will limit hiring and stop flying to four airports as it copes with weak financial results and delays in getting new planes from Boeing.

Please note: The above video is from a previous, related report.

Both Southwest and American Airlines reported first-quarter losses Thursday. Demand for travel remains strong, including among business flyers, but airlines are dealing with higher labor costs, and delays in getting new aircraft from Boeing are limiting their ability to add more flights.

Southwest said it lost $231 million. CEO Robert Jordan said the airline was reacting quickly “to address our financial underperformance,” including by limiting hiring to critical positions and asking employees to take unpaid time off.

The Dallas-based carrier said it expects to end this year with 2,000 fewer employees than it had at the start of the year. Southwest executives said the airline can cut those jobs through attrition and without …