Shares of American low-cost airline Southwest Airlines were down 10 percent in Wall Street pre-trade on Wednesday after a forecast cut for the second quarter.

Southwest is lowering its forecast for profit per available seat mile (RASM) due to "uneven travel demand," according to a press release.

RASM is expected to decline 4-4.5 percent compared to the same quarter last year, which is lower than the previous forecast of a decline of 1.5-3.5 percent.

Southwest Airlines shares fell 6 percent in pre-market trading.

Source: Dagens Industri