Southwest Profits Surge

Published by: Frank Galvano on 20th Jan 2011 | View all blogs by Frank Galvano
Southwest_Airlines_logo-1.jpg
Southwest Profits Surge

Southwest Airlines joined the reporting parade on Thursday by posting a 15 percent hike in revenue for the fourth quarter of 2010.  The airline appears to be doing well thanks to increased traffic and higher prices, and reports that bookings looks promising through the remainder of the winter.

Southwest reported fourth-quarter earnings of $131 million, easily beating expectations of analysts, who had projected an average of $116.2 million in earnings for the carrier.  The airline's ad campaigns have historically boasted lower prices, but it has been hiking fares along with the rest of the industry lately.

The airline industry is recovering after being particularly hard-hit by the recent recession.  Rising fuel prices, however, have many airline executives concerned, so most airlines have raised ticket prices to keep climbing fuel costs from digging into profits.  Southwest's costs for fuel surged 18 percent in the fourth quarter.

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