Southwest See 1st-Quarter Profit; No Plans to Cut Service


Aug 20, 2002

NEW YORK (Dow Jones)--In spite of the war in Iraq, Southwest Airlines Co. (NYSE:LUV - News) has no plans to cut service and expects to be profitable in the first quarter, said Chief Financial Officer Gary Kelly.
The fact that we''re an all-domestic carrier gives us an advantage, he told CNBC Friday.

However, March''s load factor will be lower than in 2002, primarily because Easter falls in April this year instead of March.

The company has seen a little softness in the books this week, Kelly added.

The air carrier has lot of cash on hand and is 100% hedged against increased fuel prices, he said.