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 This material may not be published, broadcast, rewritten or redistributed.)
- Houston Honors Former First Lady Barbara Bush: “A Strong Texas Woman”
- Blast Rocks Southeast Texas Refinery; No Injuries
- SMU Alumni Raises Funds To Keep Campus Paper In Print
- Man Accused In Vicious Attack In Deep Ellum Arrested
- Lance Armstrong Settles $100M Lawsuit With US Government
- 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