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Southwest first-quarter earnings drop nearly 55% on skyrocketing fuel costs

Southwest Airlines earned $5 million in the first quarter, a 54.5% decline compared to $11 million earned in the year-ago period but a solid showing in view of rapidly rising fuel costs and tough winter weather.

Southwest Airlines 737-300. Photo: By Rob Finlayson. Southwest Airlines earned $5 million in the first quarter, a 54.5% decline compared to $11 million earned in the year-ago period but a solid showing in view of rapidly rising fuel costs and tough winter weather. Separately, the carrier also announced it expects to close its purchase of AirTran Airways on May 2 at which point Executive VP-Strategy and Planning Bob Jordan will become president of AirTran, succeeding President and CEO ...

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