Recently, Zacks.com users have been paying close attention to Southwest (LUV). This makes it worthwhile to examine what the stock has in store.
A group representing major U.S. airlines on Wednesday blasted White House proposals on competition in the industry as "short-sighted" and said they would "drive-up costs and reduce choices" for consumers. The White House said on Wednesday the Transportation Department (USDOT) will propose new regulations to bar airlines from charging family members to sit near young children after DOT in 2021 proposed requiring airlines to refund fees for delayed bags. "The federal government should be focused on 21st century policies and procedures that drive our nation’s aviation system forward, rather than making efforts that threaten to reduce access and affordability for consumers," said Airlines for America (A4A), a group representing Delta Air Lines, United Airlines, American Airlines, Southwest Airlines and others.
U.S. air passengers would be offered refunds for delayed flights and transportation on rival carriers under sweeping consumer protections proposed on Tuesday after a series of disruptions including a holiday meltdown at Southwest Airlines. U.S. lawmakers said the wide-ranging measures would require airlines to pay at least $1,350 to passengers denied boarding as a result of an oversold flight, prohibit airlines from further shrinking plane seat sizes pending regulatory changes, and give consumers new rights to sue airlines for unfair practices. Passengers would receive refunds for any flights that arrived more than an hour late.