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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
02/11/201610:34:04Amended Statement of Ownership (sc 13g/a)
02/11/201606:30:00Southwest Airlines Gives Employees Record $620 Million In 2015...
02/10/201619:58:00Southwest Airlines Intends To Serve Long Beach Airport
02/10/201610:30:36Amended Statement of Ownership (sc 13g/a)
02/09/201608:21:01Amended Statement of Ownership (sc 13g/a)
02/05/201610:29:47Current Report Filing (8-k)
02/05/201606:30:00Southwest Airlines Reports January Traffic
02/04/201618:05:38Initial Statement of Beneficial Ownership (3)
02/04/201617:43:09Initial Statement of Beneficial Ownership (3)
02/03/201612:00:00Boeing May Deliver 737 Max Ahead of Target
02/03/201611:51:00Boeing May Deliver 737 Max Ahead of Target
02/02/201611:24:36Current Report Filing (8-k)
02/02/201611:13:00Southwest Airlines Appoints Grace D. Lieblein To Its Board Of...
01/29/201619:31:00Southwest Airlines® And Flight Instructors Reach Tentative Agreement
01/29/201619:05:00Boeing Test Flies New 737 Max Aircraft -- Update
01/29/201618:27:18Statement of Changes in Beneficial Ownership (4)
01/29/201618:20:45Statement of Changes in Beneficial Ownership (4)
01/29/201618:16:14Statement of Changes in Beneficial Ownership (4)
01/29/201618:03:43Statement of Changes in Beneficial Ownership (4)
01/29/201617:57:54Statement of Changes in Beneficial Ownership (4)

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