SWA Reports Mar Traffic

[InHot]

Well, here's the latest from SWA. Note below that for FY 2002 load factor is 62.9% (70.2% for Mar) so far. Will that be enough for SWA to post a profit in 2nd QTR FY '02? My fingers are crossed!

Southwest Airlines Reports March Traffic
WEDNESDAY, APRIL 03, 2002 7:45 AM
- PRNewswire

DALLAS, Apr 3, 2002 /PRNewswire-FirstCall via COMTEX/ -- Southwest Airlines Co. (LUV) announced today that the Company flew 4.0 billion revenue passenger miles (RPMs) in March 2002, approximately the same RPMs flown in March 2001. Available seat miles (ASMs) increased 4.0 percent to 5.7 billion from the March 2001 level of 5.5 billion. The load factor for the month was 70.2 percent, compared to 72.3 percent for the same period last year.

For the first quarter 2002, Southwest flew 10.4 billion RPMs, compared to the 10.7 billion RPMs recorded for the same period of 2001, a decrease of 2.5 percent. Available seat miles increased 4.2 percent to 16.5 billion from the 2001 level of 15.9 billion. The first quarter load factor was 62.9 percent, compared to 67.3 percent for the same period last year.

This press release, as well as past releases, can be accessed on the Southwest Airlines internet site at: http://www.southwest.com .

SOUTHWEST AIRLINES CO.
PRELIMINARY COMPARATIVE TRAFFIC STATISTICS

MARCH
2002 2001 CHANGE

Revenue passengers carried 5,497,193 - 5,856,840 (6.1)%

Revenue passenger miles
(000) 4,012,615 - 3,970,976 1.0 %

Available seat miles (000) 5,715,714 - 5,495,532 4.0 %

Load factor 70.2% 72.3% (2.1) pts.

Average length of haul 730 678 7.7 %

Trips flown 79,685 80,260 (0.7)%


YEAR-TO-DATE

2002 2001 CHANGE


Revenue passengers carried 14,462,902 - 15,716,020 (8.0)%

Revenue passenger miles
(000) 10,392,410 - 10,662,391 (2.5)%

Available seat miles (000) 16,519,957 - 15,852,999 4.2 %

Load factor 62.9% 67.3% (4.4) pts.

Average length of haul 719 678 6.0 %

Trips flown 231,195 231,793 (0.3)%

SOURCE Southwest Airlines Co.

 

[w8n4swa]

InHot,

I'm not an accountant, but with RPM's up 1% with ASM's up 4%, I'd say this is good news, right?

Keep the good news coming...

 

[Slug]

Good news, I think

I think it's better news than they were expecting, but just to be cautious, look at what the up numbers actually are.

ASM - Available Seat Miles - Up because they've added airplanes and routes. Only an indicator of how much they are flying. If all the seats were empty they're ASM would not change. Of course SWA would fly like that.

RPMs= Revenue Passenger Miles - basically each pax times the length of their leg. A good measure of how many people were carried.

The reason Load Factor went down and RPMs went up is because of the added capacity (ASM).

Basically, I think this was a better showing than they were expecting. In a recession economy and with the heightened pains of security SWA flew more RPMs this March than last. Pure and simple no other major airline can boast that, although I haven't checked the numbers. Granted, fares are significantly lower than they would like, which decreases gross revenue, I think this is temporary until 1. this summer 2. the recession lets up, and 3. people get over the security issues.

Anyway, that's my 2 cents. Hopefully I can consider myself in the shallow end with someone bringing me a towel soon.

Later
Slug