Southwest said it now expects second-quarter RASM, on a year-over-year basis, to decline 4.0% to 4.5%, versus its prior expectation of a 1.5% to 3.5% decline.

1. 01

   Southwest said it now expects second-quarter RASM, on a year-over-year basis, to decline 4.0% to 4.5%, versus its prior expectation of a 1.5% to 3.5% decline.

2. 02

   Southwest cited complexities in adapting its revenue management to current booking patterns as the primary driver of the lower RASM outlook. The company also said it continues to expect an all-time record for quarterly operating revenue in Q2 2024.

3. 03

   Southwest said it expects ASMs for Q2 2024 to increase 8% to 9% year over year, and CASM-X to increase 6.5% to 7.5%. It said its economic fuel cost outlook of $2.70 to $2.80 per gallon is unchanged from its prior outlook.

4. 04

   Southwest now expects scheduled debt repayments of about $9 million in Q2 2024, compared with about $7 million previously, and interest expense of about $63 million, compared with about $62 million previously. The company said it returned 2 aircraft leases earlier than originally planned, which moved payments forward.

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