Southwest reports 'first quarter record' in 1Q2017

Southwest Airlines reported (27-Apr-2017) total operating revenues increased 1.2% year-on-year in 1Q2017 to a "first quarter record" of USD4.9 billion, driven largely by record passenger revenues of USD4.4 billion. Operating revenues declined 2.8% on a unit basis, which was in line with expectations. Demand for Southwest's low fares remained strong and the fare environment remained competitive, resulting in a 2.6% decline in passenger revenue yield. Based on current bookings and improved yield trends, Southwest expects positive year-on-year RASM in 2Q2017. [more - original PR] [more - original PR - II]