High Demand Lifts Southwest Airlines Profit
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The discount carrier posted quarterly net income of $162 million on strong demand.
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NEW YORK, Nov. 4 -- Low-cost carriers Southwest Airlines Inc., JetBlue Airways Corp. and Independence Air on Thursday reported upbeat October passenger traffic figures, signaling greater demand for air travel and lifting airline stock prices.
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Profits got a boost despite sluggish sales from the challenging environment.
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Southwest Airlines Co , the leading U.S. low-cost carrier, on Tuesday said it raised one-way fares by up to $10 to offset rising fuel costs.
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The brewing company posted a higher quarterly profit, driven by stronger shipments of beer in the U.S., higher prices and demand for its imports.
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FedEx Corp., the world&#39;s top air-express shipper, said Thursday quarterly profit more than tripled on strength in its international, ground and freight businesses, and the company raised its full-year earnings forecast.
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The French airline Air France-KLM has reported a 7.8-percent rise in second-quarter operating profit owing to strong passenger traffic, but net profit slumped on exceptional factors.
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United Parcel Service Inc.  said on Thursday its quarterly profit rose but missed expectations as shortfalls in its U.S. package business and rising fuel prices offset strength internationally.
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Boeing Co  said on Wednesday third-quarter profit rose, helped by higher deliveries of commercial planes.
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US Airways Group Inc.  on Thursday reported a third-quarter profit compared with a year-earlier loss, as the carrier charged higher average fares and demand was strong.
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Southwest Airlines (LUV) on Thursday said third-quarter earnings rose 12 percent due to higher revenue and better cost performance even though record-high fuel prices stung the low-cost carrier.
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Southwest Airlines Co. led the seven largest US carriers in boosting round-trip fares as much as $20 to help offset rising fuel prices.
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Higher jet fuel costs overcame Southwest's record revenues for the June quarter.
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Ryder System Inc. R.N on Friday said  fourth-quarter profit rose on strong demand for truck leasing  and logistics services, especially in its fleet management  solutions division.
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Boeing Co.  on Wednesday  reported a higher-than-expected second-quarter profit compared  with a year-ago loss, and raised its full-year forecast as it  ramped up delivery of its hot-selling commercial planes and  defense sales remained strong.
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Northwest Airlines Corp , which cut costs and raised fares, on Monday reported a third-quarter profit, shattering Wall Street expectations.
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Shares jumped nearly 4 percent after the low-cost carrier reported its first third-quarter profit in two years on higher occupancy rates and capacity.