Southwest Airlines reports third quarter profit of US$388m

Southwest Airlines reported net income of US$388m compared with third quarter 2015 net income of US$584m. Excluding special items, Southwest Airlines reported net income of US$582m compared with third quarter 2015 net income of US$623m. Operating income amounted to S$695m, resulting in an operating margin of 13.5%. The Company’s total operating revenues were US$5.1bn, driven largely by third quarter 2016 passenger revenues of US$4.7bn. As compared with third quarter 2015, total operating revenues declined 3.4% on a 4.2% increase in available seat miles.