Southwest Airlines (LUV) Load Factor Rose 1.5 Points in Sept. 2016

October 11, 2016 6:31 AM EDT

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Southwest Airlines Co. (NYSE: LUV) reported its September, third quarter, and year-to-date preliminary traffic statistics.

The Company flew 9.9 billion revenue passenger miles (RPMs) in September 2016, an increase of 7.9 percent from the 9.2 billion RPMs flown in September 2015. Available seat miles (ASMs) increased 6.0 percent to 11.8 billion in September 2016, compared with September 2015 ASMs of 11.1 billion. The September 2016 load factor was a record for the month of September at 84.2 percent, compared with 82.7 percent in September 2015. The Company continues to estimate its third quarter 2016 operating revenue per ASM (RASM) will decline in the 3.5 to 4.5 percent range, as compared with third quarter 2015*, with approximately 0.5 point of the decline resulting from the Company's July 2016 technology outage.

This release, as well as past news releases about Southwest Airlines Co., is available online at Southwest.com.

Southwest Airlines Co.

Preliminary Comparative Traffic Statistics

SEPTEMBER

2016

2015

Change

Revenue passengers carried

10,148,682

9,421,347

7.7%

Enplaned passengers

12,302,964

11,536,417

6.6%

Revenue passenger miles (000s)

9,938,610

9,206,955

7.9%

Available seat miles (000s)

11,797,272

11,133,628

6.0%

Load factor

84.2%

82.7%

1.5 pts.

Average length of haul

979

977

0.2%

Trips flown

105,535

101,467

4.0%

THIRD QUARTER

2016

2015

Change

Revenue passengers carried

31,768,550

30,559,019

4.0%

Enplaned passengers

38,852,737

37,765,903

2.9%

Revenue passenger miles (000s)

32,315,952

31,052,660

4.1%

Available seat miles (000s)

37,881,510

36,360,340

4.2%

Load factor

85.3%

85.4%

(0.1) pts.

Average length of haul

1,017

1,016

0.1%

Trips flown

332,420

325,301

2.2%

YEAR-TO-DATE

2016

2015

Change

Revenue passengers carried

92,712,998

87,802,757

5.6%

Enplaned passengers

112,960,419

107,535,145

5.0%

Revenue passenger miles (000s)

93,431,810

87,771,907

6.4%

Available seat miles (000s)

111,374,942

105,133,835

5.9%

Load factor

83.9%

83.5%

0.4 pts.

Average length of haul

1,008

1,000

0.8%

Trips flown

981,409

948,180

3.5%

*Operating revenues used in the calculation of third quarter 2015 RASM exclude a $172 million one-time non-cash special revenue adjustment as shown in the following reconciliation. Additional information regarding the special revenue adjustment is available in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015.

Three months ended

(in millions)

September 30, 2015

Operating Revenues, as reported

$

5,318

Deduct: Special revenue adjustment

(172)

Operating Revenues, Non-GAAP

$

5,146



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