Southwest Airlines posted a net profit of $465 million for the second quarter, more than doubling net income of $224 million in the prior-year quarter, and exceeded its pre-tax return on invested capital (ROIC) target for the 12 months ended June 30. Southwest has been endeavoring to return to the 15% or better pre-tax ROIC target it used to routinely hit in previous decades, but has struggled to achieve in recent years. “Over the last 12 months, our exceptional earnings performance, ...

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