Southwest's 2Q profit rises on revenue increase

[July 19, 2012]  DALLAS (AP) -- Rising fares are helping Southwest Airlines more than offset the high cost of jet fuel.

The airline said Thursday that second-quarter profit soared 42 percent on record revenue.

The average one-way fare topped $150, up 5 percent from last summer. Passenger traffic also increased 5 percent.

Southwest earned $228 million, or 30 cents per share. Excluding special items, the company would have earned 36 cents per share, while analysts expected 33 cents per share.

[Associated Press; By DAVID KOENIG]

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