Southwest lowers revenue expectations for first quarter 

Southwest Airlines has lowered expectations for first-quarter 2024 operating revenue per seat mile (RASM) from an increase of 2.5% to 4.5% to flat to up 2%. The airline expects capacity to rise around 11% up from previous guidance of 10%.   Fuel cost expectations are also up with Southwest now predicting fuel costs per gallon of $2.95 to $3.00 from $2.70 to $2.80. Expenses are now expected to be at the high end of the range of 6%. The airline now expects to make $7 million in schedule debt repayments, whereas previously it said there would be none.   Southwest