Southwest (LUV) revealed that the government shutdown, the grounding of its Boeing 737 Max fleet and other "several unexpected events" cost the airline $200 million in the first quarter .

Earlier this month, Southwest said that it was extending changes to its flight schedule to account for the grounded aircraft's absence through much of the busy summer travel season.

The airline had a largely positive earnings report: Revenue and earnings per share slightly beat analysts' expectations.

Our first quarter 2019 net income was solid despite unexpected headwinds significantly impacting our performance," said CEO Gary Kelly in a statement.

Southwest's stock is up 3% in premarket trading.