The news has been full of terrifying news surrounding plane crashes lately. I just saw a story that there was a Delta plane crash and it overturned in Toronto. The 76 passengers and four crew on board Flight 4819 have been evacuated following the single-aircraft accident. The only good news is all survived. However, eighteen passengers have been taken to hospital.
What caused the plane to flip and catch fire is not immediately clear but the investigation is already underway. It is known that the crash unfolded during a blowing snow and it could of been strong wind gusts that caused this issue. Winds reached 40 mph on the ground and were even stronger several hundred feet in the air at the time. The incident occurred at approximately 2:15 p.m. ET Monday. The Toronto Airport temporarily stopped flights in the wake of the crash, with departures and arrivals resuming as of 5 p.m.
All I know is this comes as I saw another news headline saying that Southwest Airlines said that it is cutting about 15% of corporate jobs, or about 1,750 people. I just get a feeling that these types of accidents will become the norm as airlines look to keep cutting costs. It sad that safety seems to be getting back seated to profit as Southwest said it expects the savings from the cuts to be approx. $210 million this year and about $300 million in 2026.
Southwest stock is up aftermarket as layoff are seen as a good thing...