(MENAFN) Texas-based Southwest Airlines posted a quarterly profit compared to a year-earlier loss, despite higher operating expenses and flat revenue, Reuters reported.
The company said it made USD16 million net profit during the third quarter, compared to USD140 million loss a year earlier.
Quarterly revenue was unchanged at USD4.3 billion, while operating expenses increased by 4.2 percent, despite a 3.7 percent decline in fuel and oil costs.
Costs for maintenance materials and repairs rose 10 percent and expenses tied to salaries and wages grew nearly 4 percent, the company added.
The company said it would need to more forcefully keep costs down over the next year in the wake of rising fuel prices.
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