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Southwest Airlines Co reports profit growth in 3Q2013, expects 4Q unit cost to be flat

25-Oct-2013 3:44 PM

Southwest Airlines Co revenue up 6% - financial highlights for three months ended 30-Sep-2013:

  • Total operating revenue: USD4545 million, +5.5% year-on-year;
    • Passenger: USD4306 million, +6.1%;
    • Freight: USD41 million, +5.1%;
  • Total operating costs: USD4155 million, -2.4%;
    • Fuel: USD1450 million, -5.1%;
    • Labour: USD1271 million, +6.9%;
  • Operating profit: USD390 million, +665%;
  • Net profit: USD259 million, +1519%;
  • Revenue passengers: 27.0 million, -4.6%;
  • Enplaned passengers: 33.8 million, -3.2%;
  • Load factor: 80.8%, -1.3 ppt;
  • Average aircraft stage length: 708 miles, +1.6%;
  • Average passenger fare: USD159.39, +11.3%;
  • Passenger yield: USD 15.94 cents, +6.8%;
  • Revenue per ASM: USD 13.60 cents, +4.5%;
  • Passenger revenue per ASM:  USD 12.88 cents, +5.1%;
  • Cost per ASM: USD 12.43 cents, -3.4%;
  • Cost per ASm excl fuel: USD 8.09 cents, -1.9%;
  • Total assets: USD19,364 million;
  • Cash and cash equivalents: USD1333 million;
  • Total liabilities: USD12,351 million. [more - original PR]

Southwest Airlines Co: "Excluding fuel, special items, and profit sharing, our unit costs increased slightly compared to third quarter last year, as expected.  Based on current trends and ongoing benefits anticipated from our fleet modernization efforts, we expect our fourth quarter 2013 unit costs, excluding fuel, special items, and profit sharing, to be roughly flat versus a year ago,” Gary Kelly, Chairman of the Board, President, and Chief Executive Officer. Source: Company statement, 24-Oct-2013.