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Finance and Accounting on Southwest Airlines - Essay Example
Finance & Accounting
Pages 10 (2510 words)
SOUTHWEST AIRLINES Table of Contents Table of Contents 2 Executive Summary 3 Introduction 4 Company Overview 4 Scandal Summary 5 Scandal Methodology 6 Impacts of the Scandal 7 Conclusion and Recommendations 8 References 10 Executive Summary Southwest Airlines is an US based airlines company which is regarded to be one of the largest domestic airlines in the country…
Both the Southwest Airlines and Federal Aviation Administration (FAA) were held responsible for this scandal. The safety reports were meant to comply with the safety regulations related to inspection of its jet aircrafts. FAA was responsible for assuring the facts that Southwest Airlines complied with all the required safety regulations related to the aircrafts flown by them. However, later it was discovered that Southwest Airlines flew around 48 jets without having done the required safety inspections for flying the aircrafts. Next when Southwest Airlines discovered this fact it mentioned that it had stopped flying the jets which involved any kind of safety issues. However, in reality the company continued to fly those planes even after finding out that it did not comply with the required safety standards. Southwest Airlines was lucky that it did not result in any type of accidents which was a probability given that the safety norms were not followed in the aircrafts. FAA was also equally responsible for this scandal because they were unable to detect such safety failures in the flights of Southwest Airlines. Some FAA officials might have also been involved in this scandal. ...
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