REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 26 (Reuters) - Southwest Airlines (LUV.N) reported a third-quarter profit on Thursday that fell about 30% on soaring labor and fuel costs and the budget carrier said it expects higher aircraft deliveries from Boeing (BA.N) in 2023.
Last month, Southwest Airlines raised concerns about rising fuel costs and weaker leisure bookings in August, citing seasonality trends.
Southwest expects fourth-quarter operating revenue per available seat mile, a proxy for pricing power, to decrease by 9% to 11% compared with last year.
Southwest Airlines also forecast capacity to increase by 15% in the current quarter, once adjusted for the operational disruption faced by Southwest in December last year.
Southwest Airlines reported a profit of $193 million, or $0.31 per share, in the third quarter, from $277 million, or $0.44 per share, a year earlier.
Persons:
Mike Blake, workgroups, Bob Jordan, Shivansh, Shounak Dasgupta
Organizations:
REUTERS, Southwest Airlines, Boeing, U.S, Southwest, Boeing's, Thomson
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Kahului, Maui, Hawaii, U.S, Bengaluru