09:26 AM EDT, 04/25/2024 (MT Newswires) -- Southwest Airlines ( LUV ) shares were down more than 7% in Thursday premarket trading after the company reported a Q1 adjusted loss of $0.36 per diluted share, widening from a loss of $0.27 per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.34.

Operating revenue for the quarter ended March 31 was $6.33 billion, up from $5.71 billion a year earlier. Analysts surveyed by Capital IQ expected $6.42 billion.

The airline said it now expects to receive about 20 Boeing (BA) 737-8 aircraft in 2024, down from its earlier forecast for 46 planes. That number may change depending on the receipt of certifications and approvals from the US Federal Aviation Administration, Southwest ( LUV ) said.

"The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025," Chief Executive Bob Jordan said in a statement.

"We now expect to end 2024 with approximately 2,000 fewer employees as compared with the end of 2023."

Price: 27.05, Change: -2.25, Percent Change: -7.68