Southwest Airlines' 2Q profit slips 2%
A Southwest Airlines jet takes off from Pittsburgh International Airport in Imperial, Pa. Lower oil prices early in the April-to-June quarter are helping Southwest shave 6 percent off its fuel bill, and planes are packed as the summer travel season hits full stride. (July 23, 2013) Credit: AP
Southwest Airlines is getting a small break at the fuel pump, and that's helping it beat Wall Street expectations for profit.
The airline said Thursday that net income in the second quarter was $224 million, or 31 cents per share.
That's down 2 percent from a year ago, but stripping away special items -- mostly changes in the value of fuel-hedging bets -- Southwest says it would've earned 38 cents per share. That's a penny better than analysts were expecting.
Lower oil prices early in the April-to-June quarter are helping Southwest shave 6 percent off its fuel bill, and planes are packed as the summer travel season hits full stride.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
