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World Equity NewsEquities Org UKMortgages, insurance, and loans for the self-employed and students Equities Org equities news has moved! How to quickly sell your house London equity markets make small gains Eurofirst highest since May 2002 Eurofirst makes small gains as Xetra Dax down Eurofirst slightly higher as elections approach London strong on double witching hour NYSE sees little movement on investor caution European equities investors worried by elections NYSE equities down on economic data Nikkei down on post-election profit-taking Nikkei down on post-election profit-taking Economic concerns hit Eurofirst and Xetra Dax Japanese elections boost Tokyo indices Xetra Dax sees fall in Allianz Utilities focus on FTSE Dow Jones sees little movement Analysts suggest Katrina will stimulate economy Investors settled by Japanese polls Banking and utilities see gains on Eurofirst FTSE makes small gains on mergers Investors consider construction boom after hurricane Investors wait in Sunday's election Eurofirst drops from 38-month highs UK Equities down despite monetary policy decision London FTSE makes only small gains Investors consider Katrina economy impact FTSE gains to three-year high |
14/07/05Southwest Airlines reports 57th quarter of profitSouthwest Airlines had an increase of 41 percent in net profits despite the increase in oil prices, and it has set a target of an additional increase of 15 percent for next year’s earnings. Net profits increased in the second quarter to $159 million, up from $113 million. Southwest, the largest US air carrier when determined by market capitalization, has achieved this through an aggressive program to hedge fuel requirements that resulted in a savings of $196 million in fuel and oil costs in the second quarter. It has hedged 85 percent of its fuel requirements for the second half of this year at $26 per barrel and over half of its fuel needs for 2006 at $32 per barrel. It has also hedged various proportions of its fuel needs till 2009 for prices between $31 and $35 per barrel. Another factor in Southwest’s excellent performance was the continuing recovery in the demand for air travel. Unit costs fell by 3.5 per cent in the quarter despite a 25 percent increase in per gallon cost of jet fuel, according to Southwest’s chief executive. He said that unit costs would remain about the same in the third quarter, but that fuel costs would be higher. This was the 57th quarter in a row that Southwest has recorded a profit. |
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