Southwest Airlines has reported a net profit for Q1FY2003 of US$24 000 000, a rise of 14.3% from the quarter last year. Earnings per share were flat at US$0.03.
"Barring any unforeseen event," the airline would make a Q2 profit too said CEO James Parker."It will be difficult to match last year's second quarter profit of $102m," he added though last year;s profit included a US$36 000 000 tax gain.
Passenger revenue yield rose to US$0.1169 but load factor declined to 62.6%, a drop of 0.3%.
Average costs rose to US$0.075 (up 2.6%) but were flat when fuel costs were not taken into account. 100% fuel hedging took place in the quarter and will take place in the quarter to come.
More information at the Financial Times website