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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
07/30/201514:32:00Southwest Airlines Declares 156th Consecutive Quarterly Dividend
07/30/201508:30:00Southwest Airlines Board Of Directors Elects Ron Ricks As Vice...
07/24/201516:10:20Southwest Flight Attendants Widely Reject Labor Agreement
07/24/201516:00:43Southwest Flight Attendants Widely Rejected Tentative Labor Agreement
07/24/201515:39:00Southwest Flight Attendants Reject Tentative Agreement
07/24/201511:20:11U.S. Transportation Dept. Probes Airline Price Gouging Concerns
07/23/201519:30:32United, Southwest Post Record Profits
07/23/201510:03:43Current Report Filing (8-k)
07/23/201508:40:22Southwest Airlines Earnings Up, Helped by Lower Fuel Prices
07/23/201507:00:00Chase and Southwest Airlines Renewal Cleared for Takeoff
07/22/201508:30:00Webcast Alert: Southwest Airlines to Discuss Second Quarter 2015...
07/21/201509:00:00Southwest Airlines® Offers Fares Starting As Low As $97 One-Way...
07/16/201517:18:00Webcast Alert: Southwest Airlines to Discuss Second Quarter 2015...
07/14/201518:02:02Southwest, American, Delta, and United Hit With a Frivolous Class...
07/13/201519:40:11Spirit Says June Storms Hurt Results
07/10/201513:00:00Southwest Airlines Now Hiring 650 Customer Service Representatives
07/10/201512:30:06American Airlines Cuts Capacity Growth Guidance
07/08/201520:03:03Can Southwest Airlines Stave Off Pilot Unrest?
07/08/201513:14:00Airlines Accused of Price-Fixing Conspiracy in Dallas Class-Action...
07/08/201510:01:21Current Report Filing (8-k)

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