Southwest Airlines reports second quarter net income of $273m

Southwest Airlines  reported second quarter 2012 net income was $228m which included $45m (net) of  unfavourable special items.  This compared to net income of $161m in second quarter 2011, which included favourable special items totaling $40m (net).  Excluding special items, second quarter 2012 net income was a record $273m compared to $121m in second quarter 2011.  Operating income for second quarter 2012 was $460m compared to $207m in second quarter 2011.  Excluding special items, operating income was a record $485m for second quarter 2012, compared to $276m for the same period last year.