Southwest Airlines warns virus will cut into first-quarter sales

Southwest Airlines Co. became the latest carrier to feel the sting of the coronavirus’s impact on air travel, warning a significant drop-off in demand in recent days will dent first-quarter revenue.

The Dallas-based discounter expects a $200 million to $300 million impact on sales in the period as it sells fewer tickets and more customers cancel trips, it said Thursday in a regulatory filing.

The airline industry is reeling globally as the viral outbreak spreads beyond Asia and customers in Europe and North America avoid flying. United Airlines Holdings Inc. and JetBlue Airways Corp. said Wednesday they would trim flights to grapple with a swift drop in demand. Industry group IATA on Thursday almost quadrupled its estimate for revenue lost because of the outbreak.