- Southwest Airlines (NYSE:LUV) says it generated record GAAP operating income of $1.1B in Q2.
- Passenger revenue was up 2.1% to $4.852B, while freight revenue was 4.6% higher at $46M.
- Wages and benefit expenses +14.3% to $1.61B.
- Fuel savings were significant during the quarter with the economic fuel cost dropping 33% to $2.02 per gallon.
- Average passenger fare -3.4% to $157.51.
- Load factor +70 bps to 84.6%.
- Passenger revenue per available seat mile -4.6% to $0.1330.
- Return on invested capital (ex-taxes and special items) jumped to 28.2% from 17.1% a year ago.
- Previously: Southwest Airlines beats by $0.01, misses on revenue
- LUV +3.16% premarket to $36.23.