Southwest Airlines: Strong bookings expected 'despite the cautious economic outlook'

Southwest Airlines CEO Gary Kelly stated: "Despite the cautious economic outlook, our booking trends remain strong. Importantly, business travel has remained stable since spring. Based on Oct-2011 traffic and booking trends, thus far, we expect solid passenger unit revenue year-over-year growth in 4Q2011." The company said it continues to make progress with integration of AirTran, and expects to be able to connect the carriers' networks in 1H2012. Mr Kelly said the company has already saved USD60 million in annual costs by renegotiating AirTran contracts and cutting overhead and expects to eventually save USD400 million p/a.