SEATTLE, WA - JUNE 27: Boeing 737 MAX airplanes are stored on employee parking lots near Boeing Field, on June 27, 2019 in Seattle, Washington. After a pair of crashes, the 737 MAX has been grounded by the FAA and other aviation agencies since March, 13, 2019. The FAA has reportedly found a new potential flaw in the Boeing 737 Max software update that was designed to improve safety. (Photo by Stephen Brashear/Getty Images)
Stephen Brashear/Getty Images North America/Getty Images
SEATTLE, WA - JUNE 27: Boeing 737 MAX airplanes are stored on employee parking lots near Boeing Field, on June 27, 2019 in Seattle, Washington. After a pair of crashes, the 737 MAX has been grounded by the FAA and other aviation agencies since March, 13, 2019. The FAA has reportedly found a new potential flaw in the Boeing 737 Max software update that was designed to improve safety. (Photo by Stephen Brashear/Getty Images)
Now playing
01:06
Boeing to take nearly $5 billion charge for 737 Max woes
John Oliver addressed the recent fatal police shootings of Daunte Wright and Adam Toledo in a passionate monologue on "Last Week Tonight."
Last Week Tonight/HBO
John Oliver addressed the recent fatal police shootings of Daunte Wright and Adam Toledo in a passionate monologue on "Last Week Tonight."
Now playing
01:38
John Oliver to White Americans: 'March in the streets'
WASHINGTON, DC - DECEMBER 12: U.S. President Donald Trump departs on the South Lawn of the White House, on December 12, 2020 in Washington, DC. Trump is traveling to the Army versus Navy Football Game at the United States Military Academy in West Point, NY. (Photo by Al Drago/Getty Images)
Al Drago/Getty Images
WASHINGTON, DC - DECEMBER 12: U.S. President Donald Trump departs on the South Lawn of the White House, on December 12, 2020 in Washington, DC. Trump is traveling to the Army versus Navy Football Game at the United States Military Academy in West Point, NY. (Photo by Al Drago/Getty Images)
Now playing
02:18
Trump said electing Biden would crash the markets. It didn't
Scene video following a crash involving a Tesla Saturday night in Spring, TX
Scott Engle
Scene video following a crash involving a Tesla Saturday night in Spring, TX
Now playing
00:55
Fatal Tesla crash had no one in the driver's seat, police say
CNN
Now playing
03:22
Bank of America CEO reveals his top worry about the economy
US Navy
Now playing
01:28
Pentagon confirms UFO video is real, taken by Navy pilot
marte fotos volcan olympus mons sistema solar hope ultravioleta perspectivas mexico_00000411.png
marte fotos volcan olympus mons sistema solar hope ultravioleta perspectivas mexico_00000411.png
Now playing
04:12
Why we are going to Mars
Twitter | @brady9dream
Now playing
02:10
Pet owners pitch their pups to be dog brew's 'Chief Tasting Officer'
Now playing
01:32
Scientists turned spiderwebs into music and it sounds like a nightmare
LONDON, ENGLAND - DECEMBER 07:  A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs.  (Photo by Dan Kitwood/Getty Images)
Dan Kitwood/Getty Images
LONDON, ENGLAND - DECEMBER 07: A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs. (Photo by Dan Kitwood/Getty Images)
Now playing
03:10
Bitcoin has an energy problem
Accused $50 billion Ponzi scheme swindler Bernard Madoff exits federal court March 10, 2009 in New York City. Madoff was attending a hearing on his legal representation and is due back in court Thursday.  (Photo by Mario Tama/Getty Images)
Mario Tama/Getty Images
Accused $50 billion Ponzi scheme swindler Bernard Madoff exits federal court March 10, 2009 in New York City. Madoff was attending a hearing on his legal representation and is due back in court Thursday. (Photo by Mario Tama/Getty Images)
Now playing
03:11
Bernie Madoff, infamous Ponzi schemer, dead at 82
Now playing
05:18
Coinbase CFO: We're an on-ramp to the crypto economy
A man checks vine buds during the burning of anti-frost candles in the Luneau-Papin wine vineyard in Le Landreau, near Nantes, western France, on April 12, 2021, as temperatures fall below zero degrees celsius.
Sebastien Salom-Gomis/AFP/Getty Images
A man checks vine buds during the burning of anti-frost candles in the Luneau-Papin wine vineyard in Le Landreau, near Nantes, western France, on April 12, 2021, as temperatures fall below zero degrees celsius.
Now playing
01:37
See how French winemakers are trying to save their crops from frost
SUEZ, EGYPT - MARCH 29: The container ship 'Ever Given' is refloated, unblocking the Suez Canal on March 29, 2021 in Suez, Egypt. This morning the container ship came partly unstuck from the shoreline, where it ran aground in the canal last Tuesday, and later resumed its course shortly after 3pm local time. The Suez Canal is one of the world's busiest shipping lanes and the blockage had created a backlog of vessels at either end, raising concerns over the impact on global shipping and supply chains. (Photo by Mahmoud Khaled/Getty Images)
Mahmoud Khaled/Getty Images
SUEZ, EGYPT - MARCH 29: The container ship 'Ever Given' is refloated, unblocking the Suez Canal on March 29, 2021 in Suez, Egypt. This morning the container ship came partly unstuck from the shoreline, where it ran aground in the canal last Tuesday, and later resumed its course shortly after 3pm local time. The Suez Canal is one of the world's busiest shipping lanes and the blockage had created a backlog of vessels at either end, raising concerns over the impact on global shipping and supply chains. (Photo by Mahmoud Khaled/Getty Images)
Now playing
00:57
Egypt seizes Ever Given ship, asks for $900M in compensation
CNN
Now playing
03:06
Hear doctor's message for people with J&J vaccine concerns
Barbers from King's Cutz give haircuts indoors while observing COVID-19 safety restrictions on March 13, 2021 in Los Angeles, California.
Mario Tama/Getty Images
Barbers from King's Cutz give haircuts indoors while observing COVID-19 safety restrictions on March 13, 2021 in Los Angeles, California.
Now playing
01:43
US consumer prices increased in March
(CNN Business) —  

Southwest Airlines is ceasing operations at Newark Liberty International Airport because of the continued grounding of the Boeing 737 Max.

The airline announced Thursday that Boeing’s (BA) “extensive delays” in getting its 737 Max plane back in service, Southwest has to stop flying in and out of the New Jersey airport starting November 3. Southwest called it a financial decision, saying its financial results at the airport have fallen below expectations, and it had to “mitigate damages and optimize our aircraft.”

The 125 Southwest employees at Newark will be offered positions at other airports. Passengers booked on flights past the end date will be offered “options and flexibility” for new flights.

The airline operates 20 flights per day from Newark to 10 cities, including Phoenix, Austin and Chicago. Southwest (LUV) will still continue to fly from two New York area airports including LaGuardia and Islip on Long Island.

The 737 Max grounding is hurting other parts of Southwest’s business. The Dallas-based airline is extending cancellations on flights that had planned to use the aircraft until January 5, 2020. Southwest has 34 of the 737 Max planes in its fleet, the most of any US airline. Southwest recorded a $175 million operating loss because of the grounding, Southwest revealed in its second-quarter earnings report, released Thursday.

CEO Gary Kelly said in a release that it has held “preliminary discussions” with Boeing for compensation for the 737 Max grounding.

“We have not reached any conclusions regarding these matters, and no amounts from Boeing have been included in our second quarter results,” he said.

The airline said its capacity would grow only 2% because of the Max grounding, less than its planned 5% capacity expansion in 2019.

The 737 Max was grounded worldwide in March following the crash in Ethiopia that killed everyone on board. It was the second fatal crash involving that type of plane in under six months.

American Airlines (AAL) also released its second-quarter earnings Thursday. The Fort Worth-based carrier said it will take a $400 million profit hit because of the prolonged 737 Max grounding. The airline, which has 24 Max planes, announced it’s extending cancellations until November 2.