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Gary C. Kelly

Southwest Airlines earns a record $608 million in Q2

DALLAS Southwest Airlines posted net income of $608 million in the second quarter, its highest quarterly profit ever. The parent companies of United Airlines and Alaska Airlines also reported record profits for any quarter. Southwest topped its previous best quarter of $465 million, set in second quarter last year. Dallas-based Southwest saw its fuel bill drop $420 million to just over $1 billion, offsetting other increases in expenses. Its revenues climbed $100 million to $5.1 billion. Excluding special items, its net income reached $691 million, or $1.03 a share. Analyst consensus had been that Southwest would earn $1.02. "We significantly expanded our margins and generated very...