NFL: Dallas Cowboys football on 105.3 The Fan | CHI vs DAL Preview | Dallas Cowboys News | NFL Scoreboard | NFL Power Rankings | Live Pregame on 105.3 The Fan | FOOTBALL CONTESTS: Pro Football Challenge | Knockout Pool | *Listen to Texas Rangers on 1080 KRLD

Drop In Oil Prices Brings Relief To Southwest Airlines

DALLAS (AP) – The CEO of Southwest Airlines expects his airline to catch a break from the recent drop in oil prices. He also says bookings for early summer look strong.

Southwest Airlines Co. said Wednesday that it expects its 2011 fuel bill to rise $1.3 billion over last year’s $3.62 billion tab. It previously forecast a $1.5 billion jump.

CEO Gary Kelly says May and June bookings are strong, but he’s worried whether the company can raise fares fast enough to cover high fuel costs. Southwest has already raised fares seven times this year.

Kelly also said at the company’s annual shareholder meeting that Southwest isn’t planning to raise its dividend until it can increase profits.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

One Comment

Comments are closed.

More From CBS Dallas / Fort Worth

Drip Pan: CBS Local App
Drip Pan: Weather App

Listen Live