Southwest Airlines reported freight revenue of $39 million in the first quarter of 2012, up 5.4 percent year-over-year.
Net income in the first quarter of 2013 of $59 million, including $6 million of special items, compared with $98 million in the first quarter of 2012, which included $116 million of special items. Excluding special items, first quarter 2013 profit was $53 million, compared with a net loss of $18 million in the first quarter 2012.
“The significant year-over-year improvement in our first quarter results (excluding special items) was driven by record first quarter revenues and a better-than-expected cost performance,” said Gary C. Kelly, chairman of the board, president and CEO, in a written statement.
Total quarterly revenue was $4.1 billion, compared with $4.0 billion in the same quarter in the previous year.