Southwest Airlines operating revenue up 3% in 2016
Southwest Airlines revenue up 2% - financial highlights:
- Three months ended 31-Dec-2016:
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- Total operating revenue: USD5076 million, +2.0% year-on-year;
- Total operating costs: USD4230 million, +7.1%;
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- Labour: USD1709 million, +3.0%;
- Fuel: USD952 million, +19.3%;
- Operating profit: USD846 million, -17.5%;
- Net profit: USD522 million, -2.6%;
- Revenue passenger: 32.0 million, +5.4%;
- Enplaned passenger: 38.8 million, +4.7%;
- Load factor: 84.4%, +0.3 ppt;
- Average passenger fare: USD144,43, -3.7%;
- Passenger yield” USD 14.74 cents, -3.8%;
- Revenue per ASM: USD 13.66 cents, -2.9%;
- Passenger revenue per ASM: USD 12.44 cents, -3.3%;
- Cost per ASM: USD 11.39 cents, +2.0%;
- Cost per ASM excl fuel: USD 8.82 cents, -1.1%;
- 12 months ended 31-Dec-2016:
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- Total operating revenue: USD20,425 million, +3.1%;
- Total operating costs: USD16,665 million, +6.1%;
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- Labour: USD6798 million, +6.5%;
- Fuel: USD3647 million, +0.9%;
- Operating profit: USD3760 million, -8.6%;
- Net profit: USD2244 million, +2.9%;
- Revenue passengers: 124.7 million, +5.5%;
- Enplaned passengers: 151.7 million, +5.0%;
- Load factor: 84.0%, +0.4 ppt;
- Average passenger fare: USD149.09, -3.7%;
- Passenger yield: USD 14.90 cents, -4.3%;
- Revenue per ASM: USD 13.75 cents, -1.6%;
- Passenger revenue per ASM: USD 12.52 cents, -1.6%;
- Cost per ASM: USD 11.09 cents, -0.7%;
- Cost per ASM excl fuel: USD 8.76 cents, +1.9%;
- Total assets: USD23,286 million;
- Cash and cash equivalents: USD1680 million;
- Total liabilities: USD14,845 million. [more - original PR]
Southwest Airlines: "We ended the year with a solid fourth quarter 2016 performance. Total operating revenues grew 2.0 percent, year-over-year, to a fourth quarter record $ 5.1 billion, exceeding our expectations as of the beginning of the fourth quarter. Travel demand and close-in yields improved post-election. In addition, December business travel was stronger than anticipated leading up to the holiday period. Based on current bookings and revenue trends, we estimate first quarter 2017 operating unit revenues will be flat to down one percent, year-over-year. This represents a continued and sequential improvement from the 2.9 percent operating unit revenue year-over-year decline in fourth quarter 2016, which is an encouraging start to the year," Gary Kelly, Chairman and CEO. Source: Company statement, 26-Jan-2017.