That outlook “will amplify concerns around slowing domestic air travel demand,” said Cowen airline analyst Helane Becker.Ī report earlier this week from Alaska Airlines fanned worries that demand for air travel - especially within the United States - might finally be cooling after recovering strongly from the pandemic. Southwest said that revenue for every seat flown one mile - a closely watched ratio in the airline business - fell 8.3% in the second quarter and will drop by between 3% and 7% in the third quarter, compared with the same periods last year.

It marked the stock’s biggest one-day percentage decline since early 2020, shortly after the COVID-19 pandemic crippled air travel. The shares fell more than 9% in afternoon trading. The airline also warned Thursday that a key revenue ratio will drop and non-fuel costs will rise in the third quarter. DALLAS (AP) - Southwest Airlines said second-quarter earnings dropped 10% to $683 million as labor costs soared, offsetting record revenue at the start of the peak summer travel season.

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