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Southwest Airlines operating profit more than doubles in 2Q2012

20-Jul-2012 2:15 PM

Southwest Airlines revenue up 19% - financial highlights:

  • Three months ended 30-Jun-2012:
    • Operating revenue: USD4616 million, +11.6% year-on-year;
    • Operating costs: USD4156 million, +5.8%;
      • Fuel: USD1577 million, +3.3%;
      • Labour: USD1222 million, +8.6%;
    • Operating profit: 460 million, +122.2%;
    • Net profit: USD228 million, +41.6%;
    • Revenue passenger numbers: 28.9 million, +6.4%;
    • Enplaned passenger numbers: 35.2 million, +5.3%;
    • Load factor: 81.9%, -0.4 ppt;
    • Average passenger fare: USD150.31, +4.7%;
    • Passenger revenue per RPM: USD 15.94 cents, +6.0%;
    • Revenue per ASM: USD 13.89 cents, +5.6%;
    • Passenger revenue per ASM: USD 13.05 cents, +5.5%;
    • Cost per ASM: USD 12.51 cents, +0.2%;
    • Cost per ASM excl fuel: USD 7.76 cents, +1.7%;
  • Six months ended 30-Jun-2012:
    • Operating revenue: 8606 million, +18.9%;
    • Operating costs: USD8125 million, +17.5%;
      • Fuel: USD3087 million, +20.4%;
      • Labour: USD2363 million, +13.7%;
    • Operating profit: USD481 million, +49.8%;
    • Net profit: USD327 million, +97.0%;
    • Revenue passenger numbers: 54.4 million, +12.8%;
    • Enplaned passenger numbers: 66.4 million, +12.4%;
    • Load factor: 79.7%, -0.9 ppt;
    • Average passenger fare: USD148.49, +4.7%;
    • Passenger revenue per RPM: USD 15.88 cents, +4.7%;
    • Revenue per ASM: USD 13.48 cents, +4.3%;
    • Passenger revenue per ASM: USD 12.65 cents, +3.5%;
    • Cost per ASM: USD 12.72 cents, +2.9%;
    • Cost per ASM excl fuel: USD 7.89 cents, +1.5%;
    • Aircraft in service: 695, +0.1%;
    • Total assets: USD18,516 million, +2.5% when compared to period ended 31-Dec-2011;
    • Cash and cash equivalents: USD1083 million, +30.6% when compared to period ended 31-Dec-2011;
    • Total liabilities: USD11,676 million, +4.3% when compared to period ended 31-Dec-2011. [more – original PR]

Southwest: “Our 2012 available seat miles will be comparable to 2011 combined available seat miles, despite our plan to end this year with six fewer aircraft than 2011.  For 2013, we expect our fleet to remain comparable to 2012, and we are planning for modest year-over-year available seat mile growth, attributable to additional seats from 737-800 deliveries, the Evolve retrofit, and the replacement of B717s with B737s,” Gary Kelly, chairman of the board, President, and CEO. Source: Company statement, 19-Jul-2012.