Southwest Airlines is reporting a $683 million profit for the second quarter, and revenue is a quarterly record as planes are packed during the peak summer travel season.
Southwest CEO Robert Jordan sought to assure the market, saying that much of the decline in the revenue ratio is due to people traveling on vouchers and credits that Southwest extended during the pandemic. He said the airline is 70% booked for the third quarter — ahead of where it would normally be in late July.The average one-way fare on Southwest dropped nearly 3% compared with last summer, to $179.44.
The second-quarter results from Dallas-based Southwest, which were aided by lower fuel prices, beat analyst expectations. The company predicted record revenue and another profit in the third quarter, but warned of higher non-fuel costs. Southwest's profit fell from $760 million a year earlier. Excluding special items, earnings per share were $1.09, matching the mean forecast in a FactSet survey of analysts.
Southwest's labor costs rose 25.5% from a year earlier, an increase of more than $500 million, and the airline said third-quarter non-fuel costs would rise by 3.5% to 6.5% for each seat flown one mile, mostly in anticipation of higher wages.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Southwest Airlines shares tumble as costs rise, unit revenue slips'At this point in the quarter, we are booked about 70%, which is ahead of where we would typically be in the third quarter at this point,' Southwest Airlines CEO Bob Jordan says.
Weiterlesen »
Southwest Airlines to Revamp Flight Schedule as Consumer Travel ChangesThe airline says demand for vacation travel remains robust this summer, but business travel’s recovery to prepandemic levels remains elusive.
Weiterlesen »
Here’s what would it take for pilots, flight attendants to strike under federal lawAs contract negotiations progress across Dallas-Fort Worth’s two major carriers, American Airlines and Southwest Airlines, unions have teased strike...
Weiterlesen »
Man found shot to death in car in southwest Houston apartment parking lot, HPD saysOfficers were initially called about a masked suspect breaking into cars in the parking lot when they found the victim's body.
Weiterlesen »
Exclusive: India pharma exports soaring despite cough syrup deaths - trade bodyIndia's pharmaceutical exports this fiscal year are set to grow nearly twice as fast as last year to hit sales of $27 billion, driven by strong U.S. buying, a government-backed trade body told Reuters, despite deaths linked to Indian-made cough syrups.
Weiterlesen »
Eldery woman dies during Southwest Side house fire, underscores importance of smoke detectors in homesBattalion Chief A. Deason said that most people are killed by smoke rather than heat or flames during a house fire. Smoke detectors are a simple, cost efficient, life-saving device that should be in every room in every home.
Weiterlesen »