Southwest Ekes Out Small Profit

SWA pulls in $54M

Southwest Airlines broke a string of three straight losing quarters by eking out a small profit despite a downturn in travel.

Dallas-based Southwest said Tuesday it earned $54 million, or 7 cents per share in the quarter ended June 30, down sharply from a gain of $321 million, or 44 cents per share, a year earlier.

Excluding one-time items, Southwest said it would have earned $59 million, or 8 cents per share.

Analysts expected profit of 7 cents per share excluding charges.

Revenue dipped 8.8 percent, to $2.62 billion, less than the 22.7 percent plunge Continental reported Tuesday.

Southwest's traffic has held up better than that of other airlines as it lured passengers with lower fares.

Copyright AP - Associated Press
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