Southwest Airlines reports quarterly profit of US$820m

Southwest Airlines reported its second quarter 2016 results with a quarterly GAAP net income of US$820m, compared with second quarter 2015 GAAP net income of US$608m. Excluding special items, quarterly net income was US$757m, compared with second quarter 2015 net income of US$691m. Quarterly GAAP operating income amounted to US$1.3bn, resulting in a strong second quarter operating margin of 23.7%. Excluding special items, second quarter 2016 operating income was US$1.3bn, resulting in an operating margin of 23.5%. Second quarter free cash flow was US$649m.