Southwest (LUV) said in a regulatory filing: "On March 13, 2019, the FAA issued an emergency order for all U.S. airlines to ground all Boeing (BA) 737 MAX aircraft. The company immediately complied with the order and grounded all 34 737 MAX 8 aircraft in its fleet. In addition, the company has 41 MAX aircraft on order from The Boeing Company or lessors this year that have been delayed. As previously disclosed in its third-quarter 2019 Form 10-Q filed on November 8, 2019, the company adjusted its flight schedule to remove all MAX flights through March 6, 2020. Based on continued uncertainty around the timing of MAX return to service, the company is proactively removing the MAX from its flight schedule through April 13, 2020."

It added that: "the Company recently reached a confidential agreement with Boeing to compensate Southwest for a portion of projected financial damages related to the grounding of the airline's Boeing 737 MAX aircraft. In light of this agreement, the Southwest Board of Directors has authorized a discretionary, incremental profit-sharing accrual for Employees, which is tied to the projected reduction in operating income for annual 2019 due to the MAX groundings. The company currently estimates this incremental profit-sharing accrual to be approximately $125M, which will be accrued during fourth quarter 2019 and funded as part of the company's annual 2019 profit-sharing distribution during the first quarter 2020, in accordance with normal ProfitSharing Plan policies and Board of Director approval. The company does not currently expect any material financial impacts of the agreement to be realized in its fourth-quarter 2019 earnings. While still evaluating the applicable accounting principles, the company currently expects to account for substantially all of the compensation as a reduction in cost basis of both existing and future firm aircraft orders, which will reduce depreciation expense in future years. The company continues to engage in ongoing discussions with Boeing regarding compensation for damages related to the MAX groundings. The details of these discussions and the settlement with Boeing are confidential."