The Paris-based company, which is also one of Europe's largest airlines, now expects full-year earnings of $3 billion, down from the $3.4 billion it had previously forecast. Air France cited increasing competition on North American and Asian routes, lesser cargo demand and the fact that Venezuela is blocking repatriation of revenue for airlines.
Southwest was down 1.91% to $26.65 at 2:26 p.m. More than 9.5 million shares had changed hands, compared to the average volume of 6,116,450.
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Separately, TheStreet Ratings team rates SOUTHWEST AIRLINES as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate SOUTHWEST AIRLINES (LUV) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: