News Summary: Southwest 4Q profit rises sharply

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Associated Press

Posted on January 23, 2014 at 5:00 PM

Updated Thursday, Jan 23 at 5:30 PM

SOARING PROFIT: Southwest Airlines Co. reported fourth-quarter net income of $212 million, nearly triple from a year earlier. The results beat Wall Street forecasts.

HIGHER REVENUE: The airline, which carries more passengers in the U.S. than any carrier, had revenue of $4.43 billion, up 6 percent in one year. The average fare rose $8, or 5.4 percent, to $156.05 each way.

PUMP SAVINGS: Southwest and other airlines are catching a break on jet fuel. Southwest paid 30 cents less per gallon than a year ago and cut its fuel bill by $138 million, or 9 percent.

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