(AOF) – Southwest Airlines announces higher than expected profits in the 4th quarter: adjusted earnings per share came to $0.37 versus $0.12 expected, for “record” turnover of $6.8 billion dollars, up 10.5% and exceeding the forecast range. The airline cites “healthy leisure demand and continued strong yield, particularly during holiday periods”, coupled with record ancillary revenues in the fourth quarter, such as loyalty programs.
Southwest notes that its RASM (revenue per available seat mile, an industry benchmark) declined 8.9% in the fourth quarter of 2023 year-over-year, compared to -9% – 11% expected, due to higher than expected bookings and continued high yield. The company expects its first quarter 2024 RASM to increase by 2.5% to 4.5%, year over year.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
