Southwest Airlines has reported net earnings of $453 million for the first quarter, which is equivalent to earnings per share figure of $0.66, on revenue of $4.41 billion.
This marked a huge improvement from the March 2014 quarter’s figures of $152 million earning which is equivalent to $0.22 earnings per share on revenue of $4.17 billion.
This is not it, the EPS of the Southwest in the quarter one has beat the analyst forecast of $0.65.
Gary C. Kelly, Chairman, president and CEO of Southwest Airlines in a statement regarding the performance of the company in the first quarter of 2015 said “far surpasses any first quarter profit in our history,” and this marks the eight straight quarters breaking its old record profit.
He said that there are several drivers for the record performance including low maintenance cost, low fuel cost, longer flights, and larger and improves aircraft.
Southwest has paid $2 per gallon last quarter and in the quarter one 2014 it has paid $3.06 per gallon.
On Thursday, Kelly speaking to investors on earning call said that the Southwest ‘s Dallas flights have been a ranging success and that flights from the Dallas-Fort Worth or DFW airport were typically 90 percent full.
Following the repeal of the six months ago, the airline has nonstop flights from DFW airport.
Southwest will be adding 19 new -800 series jet and new -700 jets to its fleet in 2015.
It is optional and it can add 12 -800 jets in 2016, 2017 and 2018 and 4 -700 in 2017.
The company continues to provide more international flights, new larger and fuel efficient aircraft will add a boon to the company.
San Jose and Costa Rica destinations were added by the aircraft company last month, and it will be adding new destinations including Mexico, Belize City and Puerto Vallarta by October 2015.