Southwest 3Q Profit Rises

DALLAS — Southwest Airlines Co., the nation's biggest discount carrier, on Thursday said its third-quarter profit rose because the airline packed planes fuller amid strong demand.

Net income for the three months ended Sept. 30 rose to $162 million, or 22 cents per share, compared with $48 million, or 6 cents per share, during the same period a year earlier.

Analysts polled by Thomson Financial had been expecting earnings, on average, of 21 cents per share.

The earnings figures include the effect of a $25 million charge cover early retirement payments for about 7 percent of employees and an $11 million charge related to state taxes in Illinois. Southwest said the charges, which amounted to about 3 cents per share in total, were not included in analysts' estimates.

Revenue increased to $2.59 billion, up from $2.34 billion during the third quarter last year. Analysts had predicted revenue of $2.58 billion.

The airline said its load factor, which measures how many seats are filled by paying customers, rose to a record 76.6 percent during the quarter.

Shares fell 20 cents to $14.30 in early trading.

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