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United Airlines Holdings Inc (UAL) - $25 value - yours FREE >>
Southwest Airlines Co. (LUV) - $25 value - yours FREE >>
SkyWest, Inc. (SKYW) - $25 value - yours FREE >>
Cathay Pacific Airways Ltd. (CPCAY) - $25 value - yours FREE >>
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Southwest Airlines Reports Robust March Traffic Statistics
Southwest Airlines Company (LUV - Free Report) reported impressive traffic results for March. Traffic (measured in revenue passenger miles or RPMs) rose 3.7% to around 11.72 billion while capacity or available seat miles (ASMs) expanded 2.4% to 13.76 billion.
Load factor (percentage of seats filled by passengers) improved 100 basis points (bps) to 85.1% in the month as traffic growth outpaced capacity expansion. Additionally, passenger count grew 5.3% to 14.32 billion.
In the first three months of 2018, Southwest Airlines witnessed a 3.7% rise in RPMs to 30.44 billion. Also, ASMs inched up 1.8% to 37.37 billion. As a result, the load factor increased 160 bps to 81.5%. Moreover, passenger count increased 5.5% to 37.54 billion on a year-to-date basis.
Southwest Airlines Co. Price
Southwest Airlines Co. Price | Southwest Airlines Co. Quote
The low-cost carrier anticipates first-quarter revenue per available seat mile (RASM) to be flat year over year. While it estimates operating expenses per available seat mile (CASM) excluding fuel and oil expense plus profit-sharing expense to nudge up 0-1%. Additionally, first-quarter fuel costs are assumed at approximately $2.10 per gallon.
The company is scheduled to report first-quarter 2018 results on Apr 26.
Zacks Rank & Key Picks
Southwest Airlines carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the airline space are Cathay Pacific Airways Ltd. (CPCAY - Free Report) , SkyWest, Inc. (SKYW - Free Report) and United Continental Holdings, Inc. (UAL - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Cathay Pacific Airways, SkyWest and United Continental have gained 11.5%, 19.7% and 1.3%, respectively, in the last six months.
Zacks Editor-in-Chief Goes "All In" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>