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| Southwest posts record first quarter. Photo: Paul Thompson (flickr) |
[Avionics Today 04-23-2015] Southwest Airlines racked up a record first quarter with net income coming in at $453 million, a huge jump over the $152 million the company reported in the first quarter of 2014. Operating income increased over 200 percent to $770 million with total revenues for the quarter at $4.4 billion, a 6.2 percent year-over-year jump.
“Setting fuel aside, the solid first quarter 2015 cost performance reflects our intense focus to control costs and maintain our competitive low-cost position,” said Southwest’s Chairman of the Board, President and CEO Gary Kelly. During the first quarter the airline expanded both domestically, with new gates at the Dallas Love Field airport, which is seeing a huge spike in passenger revenue, as well as internationally, with new services to Costa Rica. Going forward, the company is looking to continue international expansion while keeping prices low.