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Southwest Airlines (SWA) reported a third-quarter net profit of $16 million, reversed from a $140 million net loss in the prior-year period. The improvement occurred even as revenue was flat and Dallas-based SWA incurred $81 million in net losses on unfavorable special items.

Chairman, president and CEO Gary Kelly said in a statement, “While in line with the domestic industry, our third-quarter 2012 year-over-year unit revenue growth was more sluggish than planned due to weaker demand, particularly in September.