Profit soars at Southwest Airlines as fares to fuel costs gap widens
- Southwest Airlines (NYSE:LUV) reports passenger revenue rose 2.6% on a unit basis to 44.4B in Q4.
- The company's load factor improved 160 bps Y/Y to 82.0% as revenue passenger miles outpaced capacity gains.
- Average stage length +2.6% to 722 miles.
- Average airfare +1.3% to $158.06.
- Freight revenue +12.2% to $46M.
- Economic fuel costs fell 14.1% Y/Y to $2.62 per gallon inclusive of settled hedges.
- LUV +4.61% premarket to $43.76.
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