Southwest Airlines Revises Q2 Outlook

(RTTNews) - Southwest Airlines Inc. (LUV) said on Thursday that it has revised its second quarter, considering current booking trends.

For the second quarter, the company now expects revenue per available seat mile or RASM to fall by 8 to 10 percent from the previous year's quarter. Previously, the firm had projected RASM to decline by 8 to 11 percent.

LUV now expects its available seat miles or ASMs to move up by around 14 percent. Earlier, it had projected ASM to remain flat.

Southwest Airlines added that it continues to expect net solid profit in the second quarter and full year 2023.

Second-quarter leisure travel demand and yields remained strong, whereas managed business revenue trends continue to perform as previously expected.

Southwest Airlines has not made any material revisions to its 2023 fleet plans compared with previous guidance, which reflected the expectation to receive around 70 Boeing 737-8 aircraft deliveries and capacity increase by approximately 14 percent to 15 percent, year-over-year.