Southwest Reports Lower Q2 Profit

Southwest Airlines announced financial results for the second quarter of 2017.

The airline reported net income of $748 million. The figure was a 1.2% decrease over the second quarter net income of 2016, which was $757 million.

The airline set a record for second-quarter operating revenue, reporting $5.7 billion, a year-over-year increase of 6.7%.

Southwest’s passenger revenue per available seat mile, or Prasm, increased by 1.6%, up to 13.03 cents.

Passenger traffic in the second quarter increased by 5.1%, up to 34.383 billion revenue passenger miles, or RPMs, from 32.708 billion in the second quarter of 2016.  Meanwhile, capacity also increased by 5.1% to 40.171 billion available seat miles, or ASMs, from 38.225 billion ASMs last year.

Passenger load factor in the second quarter remained even year-over-year at 85.6%.

(Photo: Accura Media Group)