Southwest Airlines has reported third quarter 2021 net income of $446 million, or $.73 per diluted share, which was driven by a $763 million offset of salaries, wages, and benefits expenses related to the receipt of Payroll Support Program (PSP) proceeds. Excluding special items, Southwest’s third quarter net loss was $135 million, or $.23 loss per diluted share, with operating revenues of $4.7 billion, which was down 17.0% compared with third quarter 2019. The airline ended the third quarter with liquidity of $17.0 billion, well in excess of debt outstanding of $11.2 billion. “Third quarter 2021 was a challenge for us, operationally,” said Gary C. Kelly, Chairman of the Board and Chief

This content is restricted to site members.

If you are an existing user, please login below.
New users may register below.

Existing Users Log In