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Airbus on Friday said an increase in its costs, caused by inflation and supply chain issues, had seen its adjusted earnings drop in the first quarter of 2024, even as sales of its aircraft increased against the backdrop of ongoing problems at its main rival Boeing.

It's not just Boeing. Airlines are facing big losses as well.

Southwest Airlines said Thursday it will cut 2,000 jobs and cease operations at four airports, partly to address “significant challenges” caused by delays in Boeing aircraft deliveries, as the world's largest operator of 737 Max airplanes seeks to stem steep first-quarter losses.

Southwest Airlines Co (NYSE:LUV) shares have tumbled 8% after it warned its growth plans would continue to be hampered by Boeing aircraft delays well into 2025. A wider-than-expected first-quarter loss and set of sales were also posted by the group, highlighting that the troubles surrounding Boeing are having a direct effect.

Southwest announced it will leave four airports this year following fewer expected Max deliveries. The network adjustment includes flight reductions in Atlanta and Chicago, too.

The European planemaker is set to report earnings Thursday and investors will be looking to see if it can capitalize further on Boeing's problems.

Ratings agency S&P Global Ratings said on Thursday it has revised its outlook on planemaker Boeing to "negative" from "stable".

It's been a horrible year for plane maker Boeing. But Boeing's troubles are quickly becoming troubles for its major customers, which in the United States include United Airlines and Southwest Airlines.

Some stocks are undeniable pillars in their respective industries, and sometimes even for an entire economy. Shares of Boeing Co. NYSE: BA saw little change after it reported its first quarter 2024 earnings results, arguably the most important earnings report of the year as it set the tone for the stock.

Southwest Airlines is one of Boeing's biggest customers and flies only 737s.