Southwest reports second quarter earnings

Southwest Airlines reported a net income of $367 million, or $0.58 per diluted share, in its second quarter 2024 earnings report. Its operating revenues were $7.4bn during the period, up 4.5% over the same period last year and beating original estimates. Operating expenses were up 11.4% to approximately $7bn. The airline’s unit revenue declined 3.8% in the quarter compared to last year as capacity growth outpaced demand. In addition, it estimated some headwind from revenue management challenges after it sold an excess number of seats for the peak summer travel period “too early in the booking curve”, it said in