08:40 AM EDT, 03/12/2024 (MT Newswires) -- Southwest Airlines ( LUV ) said Tuesday in a regulatory filing it revised its Q1 guidance after Boeing ( BA ) advised the budget carrier it will be delivering less aircraft in 2024.

The information will be presented by the company at the J.P. Morgan (JPM) Industrials Conference at 10 am ET.

Southwest Airlines ( LUV ) now expects growth in operating revenue per passenger seat mile to range between flat and up 2%, a lower guidance compared with up 2.5% to 4.5%, previously.

Economic fuel costs per gallon are expected to be higher at $2.95 to $3.00, from a prior expectation of $2.70 to $2.80, the company said. Non-fuel costs are expected to go up by about 6%, higher than the previous outlook of 5% to 6%.

Boeing ( BA ) told the carrier to expect 46 units of 737-8 jets this year, compared with a previous expectation of 79 units, Southwest Airlines ( LUV ) said, adding that it also does not expect deliveries of the 737-7 jet.

Shares of Southwest Airlines ( LUV ) were down 8.3% in recent Tuesday premarket activity.

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