Southwest Airlines’ second-quarter revenue increased 16.4% year over year to $8.72 billion, according to third-party reporting. Adjusted revenue reportedly rose 20.3% while revenue passengers declined 3.3%, indicating that higher average fares, rather than passenger-volume growth, drove the increase. The revenue performance coincided with rising non-fuel unit costs and potential customer resistance to higher fares.
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Quantinno Capital Management LP increased its stake by 16.7% in the first quarter, acquiring an additional 26,758 shares to hold a total of 187,054 shares valued at $7.03 million. source
Southwest Airlines Co. shares fell by 3.79% to $46.94 on Thursday, ending a three-day winning streak. source