Southwest posts full year net income of US$2.3 billion

©Southwest Airlines

Southwest Airlines’ fourth-quarter 2019 total operating revenues increased 0.4%, year-over-year, to US$5.7 billion, on 0.9% fewer available seat miles (ASMs, or capacity), year-over-year, due to the MAX groundings.

Southwest has posted fourth-quarter 2019 net income of US$514 million compared with fourth-quarter 2018 net income of US$654 million. Fourth-quarter 2019 net income was reduced by a US$124 million (pre-tax) profit-sharing award, or US$97 million after-tax in light of Boeing compensation.

The estimated operating income reductions from the MAX groundings for fourth quarter and annual 2019 were US$313 million and US$828 million, respectively.

Annual 2019 net income was US$2.3 billion, compared with annual 2018 net income of US$2.5 billion and annual 2018 net income, excluding special items, of US$2.4 billion. Annual 2019 net income was reduced by a US$124 million (pre-tax) profit-sharing award in light of Boeing compensation.

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