Lower fuel spending, higher average fares help Southwest Airlines boost 4Q earnings - InfoNews

Current Conditions

0.8°C

Lower fuel spending, higher average fares help Southwest Airlines boost 4Q earnings

In this Wednesday, Jan. 8, 2014, photo, Southwest planes line up in Chicago. Southwest reports quarterly earnings on Thursday, Jan. 23, 2014. (AP Photo/Kiichiro Sato)
January 23, 2014 - 5:20 AM

DALLAS - 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 per cent to $4.43 billion, above analysts' forecast of $4.39 billion.

The increase in net income can be credited to a 9.2 per cent drop in fuel spending, a savings of $138 million. Labor costs are up 7.3 per cent, however.

The average fare on Southwest is $156.05 each way, up $8 or 5.4 per cent from a year earlier.

News from © The Associated Press, 2014
The Associated Press

  • Popular vernon News
  • Comments
  • Pier 1 closing all of its stores in Canada
    Pier 1 Imports, Inc. announced today that it has entered into bankruptcy protection and is pursuing a sale. The retailer  commenced voluntary Chapter 11 proceedings in the U.S. Bankrupt
  • Vernon's Atlantis waterpark gets a new name
    A popular Vernon waterpark is starting its transformation with a new name. Formerly known as Atlantis Waterslides, the waterpark, located north of the city along Highway 97, has been renamed
  • Killing of 7-year-old girl stokes anger in Mexico
    MEXICO CITY - The killing of a 7-year-old girl on the southern outskirts of Mexico City has stoked rising anger over brutal slayings of women, including one found stabbed to death and skinned earl
  • Mammoth's tooth found in Williams Lake and preserved for decades by B.C. family
    What was once part of a mammoth-sized smile now is a very old conversation starter in Bryan Johnson's Vancouver home. Johnson's stepfather found a mammoth tooth in a creek at the sou
  • Vernon family captures mesmerizing melting ice
    A Vernon family was on their way home from Kelowna when they made a pit stop after noticing a beautiful scene along Wood Lake. Matthew Royal and his daughters noticed how “cool”
View Site in: Desktop | Mobile