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Southwest posts loss on buyouts, hedging

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RedDogC130

Well-known member
Joined
Jan 6, 2005
Posts
1,329
SWA 3rd Qtr results

Southwest Airlines (NYSE:LUV - News) reported a third-quarter net loss on Thursday on charges for its employee buyout program and the shrinking value of its fuel hedge portfolio.
The U.S. discount carrier said its net loss had narrowed to $16 million, or 2 cents per share, from $120 million, or 16 cents per share, a year earlier.
During the quarter, Southwest recorded charges of $27 million for the buyout program and $12 million for a portion of its fuel hedge portfolio.
Excluding these one-time items, the airline reported a profit of 3 cents per share.
Revenue for the third quarter fell 7.8 percent to $2.7 billion.

Excluding special items, third quarter 2009 net income was $23 million, or $.03 per diluted share, compared to $69 million, or $.09 per diluted share, for third quarter 2008. The third quarter 2009 net income, excluding special items, exceeded Thomson's First Call's mean estimate of $.02 per diluted share.

Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated: "I am extremely proud of our Southwest Employees. To produce a profit, excluding special items, in this environment is a remarkable accomplishment. Sixty days ago, even a modest profit seemed unattainable. Despite the continuation of a depressed economy, our People fought hard, and have staged an impressive revenue recovery from where we were in June. Our third quarter 2009 unit revenues declined 2.2 percent from a year ago, a substantial improvement from the six percent year-over-year decline experienced in second quarter. It is a true testament to their Warrior Spirits during these most challenging of times.
 
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"...It is a true testament to their Warrior Spirits during these most challenging of times."

YGTBSM.
 
You know what? I'm all for making a "profit" but if you've got to do math in public to explain how you made a profit then you're not doing as good as you could/should/were.

Gup
 
SWA is leaving alot of money on the table by not charging for bags. Everyone else is doing it.

M
 
SWA is leaving alot of money on the table by not charging for bags. Everyone else is doing it.

M

Very true, but we've accomplished what we have due to not doing what everyone else is doing.

Just like running from a bear, we just can't suck the worst.
 
SWA is leaving alot of money on the table by not charging for bags. Everyone else is doing it.
How did that whole "charging for sodas" deal for for you all? Maybe we should try that too and really piss people off.
 
SWA is leaving alot of money on the table by not charging for bags. Everyone else is doing it.

M

WN loads are increasing and decreasing everywhere else in part due to the lack of bag fees.
 

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