Southwest Airlines reports third quarter results

Southwest Airlines reported that third quarter 2012 net income was $16m, which included $81m (net) of unfavorable special items. This compared to a net loss of $140m in third quarter 2011, which included unfavorable special items totaling $262m (net). Excluding special items, third quarter 2012 net income was $97m, compared to $122m in third quarter 2011. Operating income for third quarter 2012 was $51m, compared to $225m in third quarter 2011. Excluding special items, operating income was $208m for third quarter 2012, compared to $285m for the same period last year.