southwest airlines reported $220 million The fourth-quarter loss after the airline’s holiday crash pushed up expenses and cost it millions in revenue during what was expected to be the busiest travel period since the pandemic began.

It forecast a first-quarter loss, citing current «revenue and cost trends,» while analysts have anticipated a 19-cent earnings per share for the current quarter, according to estimates compiled by Refinitiv.

Earlier this month, Southwest said it canceled about 16,700 flights between December 21 and 31 after severe winter weather hit the US.

The airline said on Thursday that the mass cancellations hit its pre-tax results by $800 million, in line with its estimate earlier this month of a hit of between $725 million and $825 million.

Southwest shares fell about 3% in premarket trading after reporting the results.

That’s how Southwest accomplished in the fourth quarter, compared to Wall Street expectations based on Refinitiv Consensus Estimates:

Adjusted loss per share: 38 cents versus an expected loss of 12 cents.

Total revenue: $6.17 billion vs. $6.16 billion expected.

Rival airlines had largely recovered around Christmas after wintry weather, but Southwest’s technology was cannot be processed all flight changes and crews had to call the airline to reschedule. The airline decided to cancel most of its flights in the following days to restart its operation, chief executive Bob Jordan said earlier this month.

The airline has been processing tens of thousands of complex refunds and refunds for travelers who booked flights on other airlines to reach their destinations.

Southwest executives will hold a call with analysts and media at 12:30 ET.

They are likely to face questions about the additional costs and political consequences of their missteps, as well as an update on technological upgrades that aim to prevent another meltdown.