Southwest’s Revenue Problem

Plus: Hawaiian buys more time for its loyalty program-backed bond, and Ed Bastian acknowledges a rivalry with United.

Dear readers,

It's a light week in the United States as we prepare for the July 4 holiday. But I have been following a few matters, including updates to Southwest’s revenue guidance and changes to Hawaiian’s loyalty program-backed bond, and I wanted to share them with you. Let’s get to it.