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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
05/03/201612:00:00Southwest Airlines Announces Continuation Of Its Legacy Of Culture...
04/29/201609:35:00Southwest Airlines Rapid Rewards Program Named Program Of The...
04/29/201606:05:48Quarterly Report (10-q)
04/27/201618:17:56Statement of Changes in Beneficial Ownership (4)
04/27/201617:48:43Statement of Changes in Beneficial Ownership (4)
04/21/201615:00:00Boeing Considering New 737 Model
04/21/201610:06:03Current Report Filing (8-k)
04/21/201607:50:00Southwest Profit Climbs 13%
04/21/201606:30:00Southwest Airlines Reports Record First Quarter Profit
04/20/201606:30:00Webcast Alert: Southwest Airlines to Discuss First Quarter 2016...
04/19/201617:34:00Southwest Airlines Will Contribute More Than $3.2 Million In...
04/15/201612:07:00Webcast Alert: Southwest Airlines to Discuss First Quarter 2016...
04/15/201609:00:00Now Accepting Applications For Southwest Airlines Lanzate Travel...
04/12/201615:00:00From Coast To Costa--Southwest Airlines Connects Los Angeles...
04/08/201606:11:02Proxy Statement (definitive) (def 14a)
04/07/201609:49:52Current Report Filing (8-k)
04/07/201606:30:00Southwest Airlines Reports March Traffic
04/04/201607:00:00Alaska Air Wins Bidding War for Virgin America
04/03/201620:50:00Alaska Air Nears Virgin Deal After Frenzied Bidding
03/31/201613:30:00Southwest Airlines To Serve Long Beach Airport Beginning June...

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