Southwest Earnings Are Up
by: Andrew Schneider, August 4, 2011 8:08:00 pm
Southwest is reporting it earned a $161 million in the April-through-June quarter. That’s up from a $112 million a year ago, though profits were not as high as analysts expected.
Fuel costs rose 64% over the past year, prompting Southwest to boost its average fare by 8%.
Chairman and CEO Gary Kelly says the integration of AirTran with Southwest is well underway following the May 2 acquisition. AirTran aircraft, airport facilities and employees will begin rebranding under the Southwest logo starting in 2012. The transition process is expected to take at least two more years.