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Southwest Airlines reports first quarterly net loss in 17 years


Southwest reported its first quarterly net loss, of USD120 million, in 17 years in the three months ended 30-Sep-08 (3Q08), with the airline taking a huge hit on the relative value of its hedge contracts, until recently the envy of the rest of the airline industry. [1580 words]

Unlock the following content in this report:


  • Record revenues, but costs increasing at a faster rate
  • Fuel hedging position benefits unwinding
  • To be impacted by Boeing delays; but not short of aircraft
  • To shrink for first time in 23 years in 1Q09
  • Warning: Difficult times ahead. Can Southwest's stunning success continue?

Graphs and data:

  • Southwest financial highlights for three months ended 30-Sep-08
  • Southwest operating margin: 1Q06 to 3Q08
  • Southwest cost per ASM and yield per RPM (US cents): 2Q04 to 3Q08
  • Southwest fuel as a portion of total operating expenses: 2Q04 to 3Q08
  • Southwest Fuel Hedging Programme: as at Sep-08
  • Southwest Airlines' B737 delivery schedule: 2008 to 2016
  • Southwest Airlines' capacity (ASK) growth (% change year-on-year): Jan-04 to Sep-08
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