Southwest Airlines Updates Q3 Unit Revenue Outlook; Continues To Expect Record Operating Revenues

(RTTNews) - Southwest Airlines Co. (LUV) said it now estimates third quarter operating revenue per available seat mile, or RASM, to be down 5% to 7% year-over-year, revised from its previous guidance of down 3% to 7%. The company continues to expect record third quarter operating revenues. Economic fuel costs per gallon is now projected in a range of $2.70 to $2.80, updated from prior guidance of $2.55 to $2.65.

The company said it does not expect the August 2023 weather-related disruptions to have a material impact on its third quarter 2023 financial results.

Southwest Airlines continues to expect solid profits in third quarter and full year 2023, both excluding special items. The company noted that it has not made any material revisions to 2023 capacity plans compared with previous guidance.