I talked about Southwest Airlines in this weeks podcast and how they had happy and productive employees. I also said that they had been profitable in the past, were profitable in the present and would probably be profitable in the future. WOW! Was I ever right.
Southwest and JetBlue Beat Wall St. Estimates - New York Times
Southwest said that third-quarter net income increased to $227 million, or 28 cents a share, from $119 million, or 15 cents a share, in the quarter a year earlier. Even stripping out the $87 million in one-time gains, the results beat the forecasts of Wall Street analysts.
Operating revenue rose 18.8 percent, to $1.99 billion from $1.67 billion.
As soaring jet fuel prices hammered most airlines, Southwest again benefited from a policy of buying contracts that lock in oil - and jet fuel - at certain prices. Southwest, which is based in Dallas, said its hedging policy resulted in a $295 million benefit in the quarter.
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