Southwest Airlines (NYSE:LUV) stock is in the news Monday as the Federal Aviation Administration (FAA) plans to probe the travel company over an engine cover problem.
Southwest Airlines made headlines over the weekend when an engine cover flap on one of its planes came loose after taking off from the Denver International Airport. This resulted in the flight returning to that airport and passengers boarding another jet, resulting in a 3-hour delay.
The FAA is investigating this matter as Southwest Airlines also has its maintenance team looking over the affected Boeing (NYSE:BA) 737. It’s also worth noting this comes after Southwest Airlines experienced other flight issues in late March.
What This Means for LUV Stock
The airline industry is under scrutiny right now as more issues have been popping up lately. This comes as jet maker Boeing has dealt with several issues in the last few years.
However, this problem may fall on Southwest Airlines instead of Boeing. The 737 that experienced issues is an older model. The company also refused to say when it was last pulled from flights for maintenance.
LUV stock is down slightly as of Monday morning as some 17,000 shares change hands. Its daily average trading volume is closer to 8.4 million shares.
Investors looking for all of the most recent stock market stories are going to want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
