Soaring labor costs at Southwest Airlines overshadow record revenue as summer travel revs up

The Associated Press

DALLAS (AP) – Southwest Airlines is reporting a $683 million profit for the second quarter, and revenue is a quarterly record as planes are packed during the peak summer travel season.

The financial results reported Thursday were in line with Wall Street expectations. But the airline is warning that a key revenue ratio will fall in the third quarter, and it also faces higher labor costs as it negotiates new contracts with unions. The shares fell at the opening bell on Wall Street.

Read the full story on AP News right here.

(Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

7/27/2023 9:39:35 AM (GMT -5:00)