Southwest Airlines posts fourth quarter and annual profits

Southwest Airlines reported fourth quarter net income, excluding special items, of US$591m, compared with fourth quarter 2014 net income, excluding special items, of US$404m. Southwest reported fourth quarter GAAP net income of US$536m, compared with fourth quarter 2014 GAAP net income of US$190 million. Fourth quarter operating income, excluding special items, was US$992m resulting in an operating margin of 19.9%. Fourth quarter operating income was US$1.0bn. Annual net income, excluding special items amounted to US$2.4bn, compared with 2014 net income, excluding special items, of US$1.4bn. Annual GAAP net income was US$2.2bn compared with 2014 GAAP net income of US$1.1bn.