Southwest settles complaints stating that the carrier flew unsafe and unmaintained aircraft. It operated 46 of its Boeing 737 jets on nearly 60,000 flights without performing mandatory inspections for fatigue cracks in their fuselages. http://money.cnn.com/2009/03/02/news/companies/southwest/index.htm?source=yahoo_quote
Southwest reports a 6.4% drop in its total January 2009 traffic from January 2008.
Southwest agrees to boost pay for its pilots and entered into a new contract with its mechanics that includes a 3% annual raise plus bonus. http://biz.yahoo.com/ap/090130/southwest_labor.html?.v=4
Southwest announces a weekend-long sale on late-winter fares during which it will sell seats to almost everywhere it flies starting at $49 to $99 each way. AMR Corp.'s American Airlines, Continental Airlines Inc., UAL Corp.'s United Airlines, US Airways Group Inc., JetBlue Airways Corp. and Delta Air Lines Inc. matched the Southwest prices. http://biz.yahoo.com/ap/090123/airlines_fares.html?.v=4
Crude oil prices dropped $1.58 on 12/24 to $37.40/barrel signaling improved profitability for airlines.
LUV and the Aircraft Mechanics Fraternal Association (AMFA) reached a tentative 4-year, cost neutral contract.
U.S. Bankruptcy Judge Basil Lorch approved LUV's $7.5 million bid to purchase ATA's 12 slots at La Guardia airport.
Southwest announced its plans to buy ATA's 12 slots at La Guardia airport, marking the airline's move into the nation's most congested airport.
Southwest reported a 3rd quarter loss of $120 million that was largely due to the drop in the price of oil. Southwest had to make a major write down on the value of its heding portfolio due the dramatic fall in oil. Ignoring these mark to market writedowns, the company had an $0.09/share profit. Revenue for the quarter rose 12% to $2.89 billion.
can someone explain to me why this peak occured??
Southwest reported its 69th consecutive quarterly profit on Thursday. The stock price rose in anticipation of the positive earnings report, but on Thursday the stock fell over 6% on a negative long-term outlook, as many of Southwest's hedging contracts will expire over the next four years.
Southwest (NYSE:LUV) will cut 31 domestic U.S. flights but add 40 others to beef up its nonstop service to new markets. LUV's announcement comes amid a general malaise in the airline industry, as profit margins have been hit hard by astronomical oil prices.
Southwest reported very positive third quarter earnings on October 18th. Net Income rose to $162M, up from $48M a year ago this quarter. Despite these strong results, the airline industry as a whole is seeing a slide due to record oil prices. In their earnings call Southwest executives reported that their per gallon fuel cost rose to $1.69, up 7.6% from a year ago this quarter.
