During the three months to end March 2014, Southwest Airlines reported a net income of $152 million, compared to a net profit of $59 million in the year-ago period. Revenue increased by 2% to $4.17 billion while expenses dropped by 1.6% to $3.95 billion. This resulted in an operating profit of $215 million, compared to $70 million in 2013. Southwest’s traffic grew 1.7% to 24.16 billion RPMs on a 1.1% cut in capacity to 30.47 billion ASMs. Its load factor rose by 2.2 percentage points to 79.3%. CFO Tammy Romo commented that thanks to the “very strong first quarter …

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