Southwest Airlines said it expects RASM for Q1 2025 to rise 2% to 4% year over year, with ASMs down about 2% year over year. Its previous outlook was for RASM to rise 5% to 7% and ASMs to fall 2% to 3%.

1. 01

   Southwest Airlines said it expects RASM for Q1 2025 to rise 2% to 4% year over year, with ASMs down about 2% year over year. Its previous outlook was for RASM to rise 5% to 7% and ASMs to fall 2% to 3%.

2. 02

   The company said about 1 point of the lower unit revenue outlook compared with its previous estimate was mainly due to a higher-than-expected completion factor, less government travel, and a greater impact from the California wildfires. It said the rest of the decrease was mainly due to softness in bookings and demand as the macro environment weakened.

3. 03

   Southwest said it expects CASM-X for Q1 2025 to rise about 6% year over year, compared with its previous estimate of a 7% to 9% increase. It cited higher capacity and lower-than-expected salary, wages and benefits, maintenance and other expenses, part of which shifted to later in the year.

4. 04

   The company put fuel cost per gallon for Q1 2025 at $2.35 to $2.45, compared with its previous estimate of $2.50 to $2.60. It also said it had repurchased $1.0B of its announced $2.5B share buyback and expects to complete it in July 2025.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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