Southwest Airlines reported, on Thursday, record revenues and earnings per share for the second quarter.
Gary C. Kelly, Chairman of the Board and Chief Executive Officer, stated, “We are pleased to report second quarter 2019 net income of $741 million, and a second quarter record earnings per diluted share of $1.37. Our financial and operational performance was remarkably strong considering the impact of the grounding of the Boeing 737 MAX 8 aircraft (MAX), which reduced operating income an estimated $175 million in second quarter, alone. We generated record revenues, strong margins and cash flows, a healthy profitsharing accrual for our Employees, and significant returns for our Shareholders—all notable achievements. Our Employees did a heroic job managing approximately 20,000 flight cancellations under operationally difficult circumstances, while delivering excellent Customer Service.”
Among the items that Kelly addressed were the initial Hawaii routes, which began in March. Kelly said they were very pleased with the results of these routes.
With the grounding of the Boeing 737 MAX 8 aircraft, Southwest was delayed in their Hawaii expansion.
Kelly’s statement about expansion to and from Hawaii, read in part:
We will keep you updated as announcements are made.