Support Skift’s Independent JournalismMake a Contribution Now
U.S. carrier Southwest Airlines Co said on Thursday that quarterly profit rose as fuel costs fell and higher airfares bolstered revenue.
Though the two-week U.S. government shutdown earlier this month hurt demand, holiday bookings look strong, the airline said.
Net income was $259 million, or 37 cents a share, in the third quarter, compared with $16 million, or 2 cents a share, a year earlier.
Excluding special items, the company said profit was 34 cents a share, in line with what analysts had expected on average, according to Thomson Reuters I/B/E/S.
Quarterly revenue rose 5.5 percent to $4.5 billion.
Operating costs fell 2 percent as fuel and oil expenses declined 5 percent. Costs tied to plane repair and maintenance fell nearly 10 percent.
Copyright (2013) Thomson Reuters. Click for restrictions.