19-Oct-2012 1:35 PM

Southwest Airlines operating profit down 77% on rising non-fuel costs in 3Q2012

Southwest Airlines revenue stable – financial highlights for three months ended 30-Sep-2012:

  • Total operating revenue: USD4309 million, stable year-on-year;
  • Total operating costs: USD4258 million, +4.2%;
    • Fuel: USD1528 million, -3.7%;
    • Labour: USD1189 million, +3.8%;
  • Operating profit: USD51 million, -77.3%;
  • Net profit: USD16 million, compared to a loss of USD140 million in p-c-p;
  • Passenger numbers: 28.3 million, +0.4%;
  • Load factor: 82.1%, +0.1 ppt;
  • Average passenger fare: USD142.86, -0.1%;
  • Passenger yield: USD 14.89 cents, +0.8%;
  • Revenue per ASM: USD 13.02 cents, +0.6%;
  • Passenger revenue per ASM: USD 12.23 cents, +1.0%;
  • Cost per ASM: USD 12.87 cents, +5.0%;
  • Cost per SM excl fuel: USD 8.25 cents, +10.0%;
  • Total assets: USD18,813 million, +4.1% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: USD1168 million, +40.9% when compared to period ended 31-Dec-2011;
  • Total liabilities: USD11,811 million, +5.5% when compared to period ended 31-Dec-2011. [more – original PR]

Southwest Airlines: “While the economy remains a significant concern, we are encouraged, thus far, by October’s bookings and revenue trends. Thus far in October 2012, passenger unit revenues are running ahead of the comparable year ago period by approximately four percent,” Gary Kelly, chairman, president and CEO. Source: Company statement, 18-Oct-2012.

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