Southwest Airlines Rises Above Fuel Prices For Strong Q2
DALLAS (AP) - Southwest Airlines overcame rising fuel prices to top profit expectations, though an inflight disaster in which a passenger was killed had an adverse effect on revenue.
Second-quarter earnings were $733 million, or $1.27 per share. Removing one-time gains, per-share profit was $1.26, which, according to a survey by Zacks Investment Research, is a penny better than Wall Street expected.
Revenue of $5.74 billion was just short. In April, a fan blade snapped off an engine and struck a plane while it was in the air killing a passenger. The incident cut revenue by $100 million.
Shares of Southwest Airlines Co. edged lower early Thursday.
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