Southwest Airlines Co operating profit almost doubles in 1H2014

Southwest Airlines Co revenue up 8% - financial highlights:

• Three months ended 30-Jun-2014:
• • Total operating revenue: USD5011 million, +7.9% year-on-year;
  • Total operating costs: USD4236 million, +0.6%;
  • • Fuel: USD1425 million, -4.3%;
    • Labour: USD1406 million, +8.3%;
  • Operating profit: USD775 million, +79.0%;
  • Net profit: USD465 million, +108%;
  • Revenue passengers: 29.2 million, +0.7%;
  • Load factor: 83.9%, +2.3 ppts;
  • Average passenger fare: USD163, +7.8%;
  • Passenger yield: USD 16.62 cents, +6.0%;
  • Revenue per ASM: USD 14.70 cents, +8.5%;
  • Passenger revenue per ASM: USD 13.94 cents, +9.0%;
  • Cost per ASM: USD 12.42 cents, +1.0%;
  • Cost per ASM excl fuel: USD 8.25 cents, +3.8%;
• Six months ended 30-Jun-2014:
• • Total operating revenue: USD9178 million, +5.2%;
  • Total operating costs: USD8187 million, -0.4%;
  • • Fuel: USD2739 million, -7.0%;
    • Labour: USD2680 million, +8.0%;
  • Operating profit: USD991 million, +97.0%;
  • Net profit: USD617 million, +118%;
  • Revenue passengers: 54.2 million, +0.1%;
  • Load factor: 81.7%, +2.2 ppts;
  • Average fare: USD160.21, +5.6%;
  • Passenger yield: USD 16.47 cents, +3.6%;
  • Revenue per ASM: USD 14.21 cents, +5.9%;
  • Passenger revenue per ASM: USD 13.45 cents, +6.4%;
  • Cost per ASM: USD 12.68 cents, +0.2%;
  • Cost per ASM excl fuel: USD 8.44 cents, +3.9%;
  • Total assets: USD20,891;
  • Cash and cash equivalents: USD1882 million;
  • Total liabilities: USD13,375 million. [more - original PR]

Southwest Airlines Co: "Thus far, July passenger revenue trends and bookings are strong. Based on these trends, and considering the strength of the year-ago comparison, the Company expects July 2014 passenger unit revenues to increase in the three percent range, as compared to July 2013." Source: Company statement, 24-Jul-2014.