DALLAS (AP) — Southwest Airlines is making more money thanks to a lower fuel bill and higher average fares.
The company said Thursday that fourth-quarter net income was $212 million, up from $78 million a year earlier.
The airline says that excluding special items it earned 33 cents per share. Analysts were expecting 29 cents per share, according to a FactSet survey. Revenue is up 6.1 percent to $4.43 billion, above analysts’ forecast of $4.39 billion.
The increase in net income can be credited to a 9.2 percent drop in fuel spending, a savings of $138 million. Labor costs are up 7.3 percent, however.
The average fare on Southwest is $156.05 each way, up $8 or 5.4 percent from a year earlier.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Texas Senate OKs ‘Bathroom Bill’
- Study: 99 Percent Of Deceased NFL Players Had Brain Damage
- At Least 3 People Drown Trying To Cross Rio Grande; 7 rescued
- Surveillance Video Shows Dallas Carjacker Who Dragged Man To His Death
- Update: Lost Teddy Bear Found At Dallas Love Field
- Man Fights To Take Pregnant Wife Off Life Support
- Cowboys’ Romo Update: Complication In Back Surgery
- Flu Cases Spike In Texas, 13 Dead In Houston Area
- 70-Year-Old Brutally Attacked Outside Restaurant
- Owner Reunites With Dog 4 Months After ‘Dognapping’
- PHOTOS: Your Pet Pictures