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Southwest Airlines 2Q Net Jumps 44% On Higher Traffic, AirTran Results

DOW JONES NEWSWIRES Southwest Airlines Co.'s (LUV) second-quarter earnings jumped 44% as results benefited from the acquisition of low-cost rival AirTran and higher traffic, although fuel costs jumped sharply higher. Many airlines reported weaker bottom-line results for the latest quarter due to a double-digit increase in fuel costs. Traffic has broadly improved, however, as air-travel demand continues to climb. Southwest has reported a streak of strong monthly traffic increases. The latest results included Southwest's purchase of AirTran, a deal that gives the carrier access to Atlanta--AirTran's major operating hub and the one major U.S. city Southwest didn't already serve. It also gives Southwest access to Mexican and Caribbean destinations. Southwest reported earnings of $161 million, or 21 cents a share, up from $112 million, or 15 cents a share, a year earlier. Excluding fuel hedging and other impacts, adjusted earnings slid to 15 cents from 29 cents. Revenue jumped 31% to $4.14 billion. Analysts surveyed by Thomson Reuters expected a per-share profit of 20 cents on revenue of $4.16 billion. Traffic jumped 28% as capacity increased 23%. Load factor, or the percentage of available seats filled, grew to 82.3% from 79.3%. Passenger revenue per available seat mile, an important measure of revenue for airlines, grew 4.1%. Per-gallon fuel costs were 38% higher than a year ago. Shares closed at $9.65 Wednesday and were inactive premarket. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Southwest Airlines (LUV)
DateTimeHeadline
09/29/201611:00:00Southwest Airlines Names Reid Grandle Vice President Of Corporate...
09/28/201606:45:00Michael G. Van de Ven Appointed to the Comerica Incorporated...
09/26/201609:05:00In A World Full Of No, Southwest Airlines Sings "Yes" In Latest...
09/23/201617:38:00Southwest Airlines Flight Attendants To Vote On New Agreement
09/22/201611:05:00Southwest Airlines Pilots To Vote On New Contract Agreement
09/12/201618:20:00Southwest Incident Linked to Cracked Engine Blade
09/09/201618:30:00Southwest, Flight Attendants Reach Deal in Principle on New Contract
09/09/201617:02:00Southwest Airlines and Flight Attendant Union Reach Tentative...
09/07/201614:42:00Airline Stocks Soar on Revenue Outlook
09/07/201606:30:00Southwest Airlines Reports August Traffic
09/07/201606:24:27Current Report Filing (8-k)
09/06/201608:30:00Southwest Airlines to Present at the Cowen and Company 9th Annual...
09/06/201604:30:00British Airways Check-In Glitch Causes Delays
09/01/201619:04:00Southwest Airlines And Facilities Maintenance Technicians Reach...
08/31/201617:11:00Southwest Airlines to Present at the Cowen and Company 9th Annual...
08/29/201618:20:00Southwest Pilots Union Has a Tentative Agreement on Contract
08/29/201617:27:00Southwest Airlines And Pilot Union Reach Tentative Agreement
08/23/201617:00:00Randy Babbitt Announces Retirement From Southwest Airlines
08/22/201613:25:56Confidential Treatment Order (ct Order)
08/18/201616:32:00Southwest Airlines To Fly Nonstop Between Los Angeles (LAX) And...

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