Southwest Reports $112 Million 2Q Profit

Thursday, Jul 29, 2010  |  Updated 9:30 AM CDT
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Southwest Reports $112 Million 2Q Profit

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Southwest Airlines to start service to South Carolina.

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Southwest Airlines Co. added an upbeat note to a strong quarter for the airline industry by reporting a $112 million profit for spring and early summer.

The nation's biggest discount airline said Thursday that its adjusted earnings were 29 cents per share in the second quarter, enough to beat analysts' expectations.

Revenue rose 21 percent, helped by heavy traffic during the start of the summer vacation period.

Southwest is the last of the big six carriers to report second-quarter results. All except American Airlines made money thanks to higher fares and new fees on passengers.

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