Southwest Airlines reports 2Q net income of $112 million

Southwest Airlines (Dallas) reported second quarter 2010 net income of $112 million, or $.15 per diluted share, compared to net income of $91 million, or $.12 per diluted share, for second quarter 2009. Both years’ results included special items related to non-cash, mark-to-market, and other items associated with a portion of the Company’s fuel hedge portfolio. Excluding special items for both periods, second quarter 2010 net income was $216 million, or $.29 per diluted share, compared to $59 million, or $.08 per diluted share, for second quarter 2009. The second quarter 2010 net income, excluding special items, of $.29 per diluted share exceeded Thomson’s First Call mean estimate of $.27 per diluted share.

Copyright Photo: Tony Storck. Boeing 737-7H4 N918WN (msn 29843) dressed in the Illinois One livery arrives at Baltimore/Washington.