TODAY'S TOP STORY
By TERRY MAXON / The Dallas Morning News
Southwest Airlines Co. said Thursday it earned $34 million in the first quarter, with fuel hedging and stronger revenues overcoming higher fuel prices.
However, Southwest chief executive officer Gary Kelly said that the Dallas-based carrier plans to reduce its growth in 2009 because of concerns over fuel prices and the economy.
Southwest’s net income equaled 5 cents a share on revenue of $2.53 billion. In first quarter 2007, the airline earned $93 million,
or 12 cents a share, on revenue of $2.20 billion.
Excluding special items, Southwest reported net income of $43 million, or 6 cents a share, compared to $33 million, or 4 cents per share a year earlier.
Analysts had expected Southwest to report a 1 cent per share profit.
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| MORE HEADLINES | | TOMORROW The housing downturn is now hitting almost every neighborhood
in the Dallas area. Read the full story, plus find a breakdown of first-quarter home sales and prices by neighborhood in tomorrow's Business section and at dallasnews.com/business. |
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