"Our cost inflation is expected to abate dramatically in second half 2017 to end this year with fourth quarter unit costs in line with year-ago levels, excluding fuel and oil, special items, and profitsharing," says CEO Gary Kelly.
Passenger revenue yield fell 2.6% to $0.1508, while passenger revenue per available seat mile fell 3.3% to $0.1206. Fares averaged $149.78 in Q1 vs. $153.75 a year ago.
Looking ahead, Southwest expects Q2 revenue per available seat mile to increase 1% to 2%.
Previously: Southwest Airlines misses by $0.02, misses on revenue (April 27)
LUV -2.56% premarket to $55.48.