Southwest Airlines reports first quarter results

Southwest Airlines has reported a record first quarter operating revenues of $4.1 billion, with a net income of $59 million and operating income of $70 million. Excluding special items, net income was $53 million; operating income of $112 million Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated: “The significant year-over-year improvement in our first quarter results (excluding special items) was driven by record first quarter revenues and a better-than-expected cost performance. On relatively flat available seat miles year-over-year, total operating revenues of $4.1 billion increased 2.3%, or 1.8% on a unit basis, compared to first