Southwest Q2 net profit down 9%; ready to add 737 MAX 8
Southwest Airlines reported a US$746m net profit in Q2, down 9% from net income of $820m in the 2016 June quarter, as it prepares for big fleet changes in Q3. The carrier still has 67 Boeing 737 Classics in its fleet after retiring 10 in Q2, but all 67 are scheduled to be retired by the end of Q3. It is also taking delivery of its first 737 MAX 8 next month, and will receive 10 737 MAX 8s by the end of September and 14 by the end of 2017. Southwest will place the MAX 8 into revenue service Oct 1. Company executives said the gains in aircraft fuel efficiency from retiring older 737 Classics and adding MAX 8s will help Southwest improve its cost performance, which was a negative mark in Q2 as both labour costs and fuel expenses increased year-over-year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-07-28/unaligned/southwest-q2-net-profit-down-9-ready-to-add-737-max-8
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Southwest Q2 net profit down 9%; ready to add 737 MAX 8
Southwest Airlines reported a US$746m net profit in Q2, down 9% from net income of $820m in the 2016 June quarter, as it prepares for big fleet changes in Q3. The carrier still has 67 Boeing 737 Classics in its fleet after retiring 10 in Q2, but all 67 are scheduled to be retired by the end of Q3. It is also taking delivery of its first 737 MAX 8 next month, and will receive 10 737 MAX 8s by the end of September and 14 by the end of 2017. Southwest will place the MAX 8 into revenue service Oct 1. Company executives said the gains in aircraft fuel efficiency from retiring older 737 Classics and adding MAX 8s will help Southwest improve its cost performance, which was a negative mark in Q2 as both labour costs and fuel expenses increased year-over-year. <br/>
