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Southwest Airlines says travel demand is improving, forecasts fourth quarter profit

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Southwest Airlines on Wednesday said it expects to be profitable in the fourth quarter, thanks to stronger-than-expected leisure travel demand despite the emergence of the omicron variant of Covid.

The Dallas-based carrier forecast fourth-quarter revenue down 10% to 15% from the same period of 2019, when it generated $5.73 billion. Southwest also slightly lowered its fuel-cost forecast for the quarter to no more than $2.25 a gallon, down from a range of $2.25 to $2.35 a gallon.

Southwest’s forecasts come ahead of an investor day presentation scheduled for midday Wednesday. In 2022, the airline said it expects to be profitable and estimated its…



Source cnbc.com

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