Southwest Air reports higher Q1 profit
Southwest Airlines reported a 13% increase in Q1 net income and said it expected unit revenue to rise "modestly" in Q2. The carrier said it earned US$511m in Q1, up from $453m a year earlier. The airline offered a bright picture of US travel demand that contrasted with Wednesday's report from United Airlines, which said flights were exceeding consumer interest. "Solid bookings and revenue trends have continued," Southwest CE Gary Kelly said. Southwest also said it had moved up plans to retire older Boeing 737s in its fleet to no later than Q3 of 2017 to resolve uncertainty about US-mandated pilot training requirements for flying those aircraft and their next-generation model, the 737 MAX. This will result in fewer aircraft and lower growth in flight capacity than Southwest previously forecast, it said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-22/unaligned/southwest-air-reports-higher-q1-profit
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Southwest Air reports higher Q1 profit
Southwest Airlines reported a 13% increase in Q1 net income and said it expected unit revenue to rise "modestly" in Q2. The carrier said it earned US$511m in Q1, up from $453m a year earlier. The airline offered a bright picture of US travel demand that contrasted with Wednesday's report from United Airlines, which said flights were exceeding consumer interest. "Solid bookings and revenue trends have continued," Southwest CE Gary Kelly said. Southwest also said it had moved up plans to retire older Boeing 737s in its fleet to no later than Q3 of 2017 to resolve uncertainty about US-mandated pilot training requirements for flying those aircraft and their next-generation model, the 737 MAX. This will result in fewer aircraft and lower growth in flight capacity than Southwest previously forecast, it said. <br/>
