Southwest Airlines reports record quarterly profit

Southwest Airlines reported quarterly net income, excluding special items, of $485m compared to second quarter 2013 net income, excluding special items, of $274m. Quarterly net income of $465m, which included $20m (net) of unfavorable special items, compared to second quarter 2013 net income of $224m, which included $50m (net) of unfavorable special items. Southwest reported quarterly operating income of $775m, excluding special items, quarterly operating income of $819m, resulting in a 16.3% operating margin.