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Southwest revenue eases 0.8%, profits rise in 4Q2009

22-Jan-2010 3:13 PM

Southwest revenue ease 0.8% - financial/traffic highlights:

  • Three months ended 31-Dec-2009:
    • Total Operating revenue: USD2,712 million, -0.8% year-on-year;
    • Total operating cost: USD2,545 million, -4.5%;
      • Labour: USD861 million, +1.8%;
      • Fuel: USD794 million, -13.5%;
    • Operating profit: USD167 million, +138.6%;
    • Net profit: USD116 million, compared to a loss of USD56 million in the previous corresponding period;
    • Revenue passengers: 21.5 million, +3.4%;
    • Enplaned passengers: 25.4 million, +5.9%;
    • Load factor: 77.3%, +9.5 ppts;
    • Average passenger fare: USD120.21, -4.7%;
    • Passenger yield per RPM: USD 14.22 cents, -6.4%;
    • Operating revenue per ASM: USD 11.54 cents, +7.4%;
    • Cost per ASM*: USD 10.83 cents, +3.4%;
    • Cost per ASM ex fuel*: USD 7.45 cents, +8.6%;
  • 12 months ended 31-Dec-2009:
    • Total operating revenue: USD10,350 million, -6.1%;
    • Total operating cost: USD10,088 million, -4.6%;
      • Labour: USD3,468 million, +3.8%;
      • Fuel: USD3,044 million, -18.0%;
    • Operating profit: USD262 million, -41.6%;
    • Net profit: USD99 million, -44.4%;
    • Revenue passengers: 86.3 million, -2.5%;
    • Enplaned passengers: 101.3 million, -0.6%;
    • Load factor: 76.0%, +4.8 ppts;
    • Average passenger fare: USD114.61, -3.8%;
    • Passenger yield per RPM: USD 13.29 cents, -7.4%;
    • Operating revenue per ASM: USD 10.56 cents, -1.0%;
    • Cost per ASM*: USD 10.29 cents, +0.5%;
    • Cost per ASM ex fuel: USD 7.19 cents, +8.3%. [more]

*GAAP

Southwest: "In what has been, perhaps, the most difficult revenue environment the airline industry has ever faced, we are extremely proud to report our 2009 earnings, which represents our 37th consecutive year of profitability…with strong revenue and booking trends continuing thus far into 2010, we expect another year-over-year increase in unit revenue for first quarter 2010…while we will continue our disciplined route strategy, and currently do not have plans to grow capacity in 2010, we were still able to expand our cities served in 2009 without adding aircraft due to our successful route optimization effort,” Gary C Kelly, CEO. Source: Southwest, 21-Jan-2010.