Southwest Airlines Co reports double-digit profit growth in 1Q2016

Southwest Airlines Co revenue up 9% - financial highlights for three months ended 31-Mar-2016:

• Total operating revenue: USD4826 million, +9.3% year-on-year;
• Total operating costs: USD3882 million, +6.8%;
• • Labour: USD1539 million, +8.5%;
  • Fuel: USD852 million, -2.9%;
• Operating profit: USD944 million, +21.0%;
• Net profit: USD511 million, +12.8%;
• Revenue passenger: 28.6 million, +8.2%;
• Enplaned passengers: 34.6 million, +7.9%;
• Passenger load factor: 80.5%, +0.4 ppt;
• Average passenger fare: USD153.75, -2.7%;
• Revenue per ASM: USD 13.68 cents, +0.1%;
• Passenger revenue per ASM: USD 12.47 cents, -3.6%;
• Cost per ASM: USD 11.01 cents, -2.1%;
• Cost per ASM excl fuel: USD 8.59 cents, +0.7%;
• Average aircraft stage length: 757 miles, +2.4%;
• Total assets: USD22,241 million;
• Cash and cash equivalents: USD2388 million;
• Total liabilities: USD14,745 million. [more - original PR]

Southwest Airlines: "Overall, we remain very pleased with the performance of our network. Based on current trends and our outlook for second quarter 2016, we expect another quarter of strong margins and cash flows," Gary Kelly, Chairman and CEO. Source: Company statement, 21-Apr-2016.