NEW YORK (Reuters) - Southwest Airlines Co (N:LUV) saw a lot of "unusual" discounting by larger U.S. rivals after bookings were lower than expected for last-minute travel around Thanksgiving, Chief Executive Gary Kelly told reporters in New York Thursday.
The cheaper fares prompted the budget airline on Tuesday to lower its forecast for revenue per available seat mile in the fourth quarter to between flat and down a percent, from an earlier forecast of up 1 percent, compared to a year earlier, causing Southwest's stock to fall 9 percent.