Southwest Airlines breaks losing string, posts $54M profit

[WriteDown]

Source: Dallas Morning News

Southwest Airlines Co. said Tuesday that it earned $54 million in the second quarter, its first official profit after three quarters of losses.

“In without a doubt one of the worst revenue environments for the airlines, ever, this is an enormous achievement by the employees of Southwest Airlines,” Southwest chairman and chief executive officer Gary Kelly said.

By comparison, Houston-based Continental Airlines Inc. on Tuesday reported a net loss of $213 million, or $169 million excluding special items. Last week, Fort Worth-based AMR Corp., parent of American Airlines Inc., said it lost $390 million, or $319 million excluding special items.

Kelly said that Dallas-based Southwest’s revenues dropped almost 9 percent in the second quarter, and warned that the outlook remains poor. Southwest has launched a series of fare sales recently for travel from mid-September to mid-November....


Read more: http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/072209dnbussouthwestearns.606be817.html

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Love flying Southwest!