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Southwest Airlines Co. (NYSE:LUV) is reportedly under investigation by the National Transportation Safety Board (NTSB) and the Federal Aviation Administration (FAA) following an incident where a jet allegedly took off from a closed runway.
The incident involved Flight 4805, which departed Portland, Maine, at 5:45 am local time on Tuesday, slated for Baltimore.
The FAA reported that the Boeing Co. (NYSE:BA) 737 jet took off from a temporarily closed runway, with an airport vehicle exiting the runway just before the aircraft began its takeoff, reported Bloomberg.
The NTSB plans to release a preliminary report within 30 days, detailing the initial findings of their investigation. The final report, which will provide comprehensive insights into the incident, is expected to take 12-24 months.
Also Read: FAA Issues New Safety Directive For Boeing 757-200 Over Cracking Concerns
The report cited a Southwest spokesperson who stated that the airline is cooperating fully with the NTSB and FAA to understand the incident’s circumstances, adding that the aircraft continued safely to its destination.
This event is one of several recent incidents involving Southwest Airlines. In May, a 737 Max operated by the airline experienced a “Dutch roll,” an unusual rolling movement.
This incident adds to the ongoing scrutiny of Boeing’s 737 Max aircraft. The 737 Max has been under intense regulatory scrutiny due to a series of safety concerns and incidents.
Additionally, a Southwest flight in April came within 400 feet of the ocean off the coast of Hawaii before the crew regained control and returned to the departure airport, the report mentioned.
Southwest stock has lost more than 19% in the last 12 months. Investors can gain exposure to the stock via U.S. Global Jets ETF (NYSE:JETS) and IShares U.S. Transportation ETF (NYSE:IYT).
Price Action: LUV shares are trading higher by 0.23% at $28.53 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
