Southwest Airlines Co operating profit down 6% in 2Q2013, 3Q2013 booking 'solid'

Southwest Airlines Co revenue up 1% - financial highlights:

• Three months ended 30-Jun-2013:
• • Total operating revenue: USD4643 million, +0.6% year-on-year;
  • • Passenger: USD4380 million, +0.8%;
    • Freight: USD43 million, +2.4%;
  • Total operating costs: USD4210 million, +1.35;
  • • Fuel: USD1489 million, -5.6%;
    • Labour: USD1298 million, +6.2%;
  • Operating profit: USD433 million, -5.9%;
  • Net profit: USD224 million, -1.8%;
  • Revenue passengers: 29.0 million, +0.4%;
  • Enplaned passengers: 35.5 million, +0.9%;
  • Load factor: 81.6%, -0.3 ppt;
  • Average passenger fare: USD151.23, +0.4%;
  • Passenger yield: USD 15.68 cents, -1.9%;
  • Revenue per ASM: USD 13.56 cents, -2.4%;
  • Passenger revenue per ASM: USD 12.79 cents, -2.2%;
  • Cost per ASM: USD 12.30 cents, -1.7%;
  • Cost per ASM excl fuel: USD 7.95 cents, +2.4%;
• Six months ended 30-Jun-2013:
• • Total operating revenue: USD8727 million, +1.4%;
  • • Passenger: USD8218 million, +1.5%;
    • Freight: USD82 million, +3.85;
  • Total operating costs: USD8224 million, +1.2%;
  • • Fuel: USD2946 million, -4.6%;
    • Labour: USD2481 million, +5.0%;
  • Operating profit: USD503 million, +4.6%;
  • Net profit: USD283 million, -13.5%;
  • Revenue passengers: 54.2 million, -0.5%;
  • Enplaned passengers: 66.2 million, -0.2%;
  • Load factor: 79.5%, -0.2 ppt;
  • Average passenger fare: USD151.73, +2.0%;
  • Passenger yield: USD 15.90 cents, -0.1%;
  • Revenue per ASM: USD 13.42 cents, -0.4%;
  • Passenger revenue per ASM: USD 12.64 cents, -0.3%;
  • Cost per ASM: USD 12.65 cents, -0.6%;
  • Cost per ASM excl fuel: USD 8.12 cents, +2.9%;
  • Total assets: USD19,382 million;
  • Cash and cash equivalents: USD1489 million;
  • Total liabilities: USD12,601 million. [more - original PR]

Southwest: "Third quarter 2013 revenue trends are encouraging, thus far. To date, July unit revenues are approximately three percent above last year's July, benefiting from Southwest and AirTran network connections and our gradual combined network optimization. Current bookings for the remainder of the third quarter also look solid," Gary Kelly, Chairman, President and CEO. Source: Company statement, 25-Jul-2013.