Southwest Posts Earnings of 15 Cents Per Share

SouthwestSouthwest Airlines (LUV) reported second-quarter earnings of 15 cents per diluted share, up from 12 cents per diluted share in the second quarter of 2009.

Operating revenue gained 21% to $3.2 billion, driven by a 19% increase in the average passenger fare, the company said in a statement. Net income was $112 million, up from $91 million in the year-ago quarter.

"We are extremely pleased with our second quarter results," CEO Gary C. Kelly said. "Second quarter net income (excluding special items) dramatically improved over second quarter last year, largely due to another record revenue performance."

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