Excluding items, net income was $273 million, or 36 cents a share. Analysts had estimated 33 cents. Including items, primarily unrealized losses related to fuel hedging, net income was $228 million, or 30 cents a share, compared with $161 million, or 21 cents, in the same quarter a year earlier. Revenue rose 11.6% to $4.6 billion, in line with estimates.
Operating income, excluding special items, was $485 million compared with $276 million a year earlier.
"We are producing very strong results despite a fragile economic environment," said CEO Gary Kelly, in a prepared statement. "Record revenues driven by steady growth were sufficient to overcome high jet fuel prices and produce a record operating income of $485 million."
Kelly said the merger with AirTran produced $80 million in net, pretax synergies in the first half of 2012 and is expected to produce $400 million in 2013, excluding acquisition or integration expenses.
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Operating income, excluding special items, was $485 million compared with $276 million a year earlier.
"We are producing very strong results despite a fragile economic environment," said CEO Gary Kelly, in a prepared statement. "Record revenues driven by steady growth were sufficient to overcome high jet fuel prices and produce a record operating income of $485 million."
Kelly said the merger with AirTran produced $80 million in net, pretax synergies in the first half of 2012 and is expected to produce $400 million in 2013, excluding acquisition or integration expenses.
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