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Southwest reports 38th consecutive full-year profitability in 2010

21-Jan-2011 12:58 PM

Southwest revenue up 15% - financial/traffic highlights:

  • Three months ended 31-Dec-2010:
    • Revenue: USD3114 million, +14.8% year-on-year;
    • Operating costs: USD2898 million, +13.9%;
      • Labour: USD955 million, +10.9%;
      • Fuel: USD940 million, +18.4%;
    • Operating profit: USD216 million, +29.3%;
    • Net profit: USD131 million, +12.9%;
    • Revenue passengers: 22.5 million, +4.4%;
    • Enplaned passengers: 29.2 million, +15.1%;
    • Load factor: 80.7%, +3.4 ppts;
    • Average stage length: 653 miles, +3.3%;
    • Average passenger fare: USD131.17, +9.1%;
    • Passenger yield: USD 14.72 cents, +3.5%;
    • Revenue per ASM: USD 12.56 cents, +8.8%;
    • Passenger revenue per ASM: USD 11.88 cents, +8.1%;
    • Cost per ASM: USD 11.69 cents, +7.9%;
    • Cost per ASM excl fuel: USD 7.90 cents, +6.0%;
  • 12 months ended 31-Dec-2010:
    • Revenue: USD12,104 million, +16.9%;
    • Operating costs: USD11,116 million, +10.2%;
      • Labour: USD3704 million, +6.8%;
      • Fuel: USD3620 million, +18.9%;
    • Operating profit: USD988 million, +277.1%;
    • Net profit: USD459 million, +363.6%;
    • Revenue passengers: 88.2 million, +2.2%;
    • Enplaned passengers: 114.2 million, +12.7%;
    • Load factor: 79.3%, +3.3 ppts;
    • Average sector length: 648 miles, +1.4%;
    • Average passenger fare: USD130.27, +13.7%;
    • Passenger yield: USD 14.72 cents, +10.8%;
    • Revenue per ASM: USD 12.30 cents, +16.5%;
    • Passenger revenue per ASM: USD 11.67 cents, +15.7%;
    • Cost per ASM: USD 11.29 cents, +9.7%;
    • Cost per ASM excl fuel: USD 7.61 cents, +5.8%;
    • Total assets: USD15,463 million, +8.4%;
    • Total liabilities: USD9226 million, +4.7%. [more]

Southwest: “Thus far in January, booking and revenue trends suggest similar year-over-year improvement in January versus December 2010. Bookings in place for the remainder of the first quarter also are strong. In 2011, available seat miles are estimated to increase in the 5 to 6% range from 2010, unchanged from previous forecasts. The company expects its first quarter 2011 non-fuel unit costs to increase at a lower year-over-year rate than experienced in fourth quarter 2010,” Gary Kelly, Chairman, President and CEO. Source: Southwest, 20-Jan-2011.