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Southwest Airlines reports net income increase year-over-year for Q3.


Southwest Airlines (NYSE: LUV) has reported a third quarter 2005 net income of USD227m or USD0.28 per diluted share.

The result can be compared to the USD119m net profit for Q3 2004, which was USD0.15 per diluted share.

The airline said that its Q3 2005 results included USD87m (before income taxes) in unrealised gains, included in "Other gains", associated with derivative instruments that will settle in future accounting periods, recorded as a result of Statement of Financial Accounting Standard 133 (SFAS 133), "Accounting for Derivative Instruments and Hedging Activities", as amended. Excluding these unrealised gains the third quarter net income was reportedly USD174m, or USD0.21 per diluted share.

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Publication:Airline Industry Information
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 21, 2005
Previous Article:World Air Holdings reports North American Airlines 2004 results.
Next Article:Southwest Airlines to launch service from Denver in 2006.

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