A Southwest Airlines plane takes off from Hartsfield-Jackson Atlanta International Airport (ATL) in Atlanta, Georgia, US, on Friday, July 12, 2024.
Southwest Airlines third-quarter profit fell from a year ago but topped Wall Street estimates while the carrier workers to drum up revenue and fend off activist investor Elliott Investment Management.
"Thus far in the quarter, travel demand remains healthy and bookings-to-date for the holiday season are strong, demonstrating the continued resilience of the leisure travel market," Southwest said in an earnings release.
Southwest said Thursday that it will repurchase $250 million of Southwest stock through an "accelerated" program under the overall buyback plan.
Net income fell 65% from the year-earlier quarter to $67 million, or 11 cents a share, though that was ahead of estimates.
Organizations:
Southwest Airlines, Hartsfield, Jackson Atlanta International, Elliott Investment Management, Southwest
Locations:
Atlanta , Georgia, Dallas, Atlanta