Southwest stated revenues softened in Feb-2009, compared to Jan-2009 levels, bringing year-on-year passenger unit revenues to the +2% range for the first two months of 2009. Business travel, in particular, has softened “significantly”, as measured by a decline in the percentage of full-fare traffic. As a consequence of the continued deterioration in revenue and booking trends and the current economic environment, Southwest’s revenue outlook for the remainder of the year “is more cautious”.
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