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Southwest profits spike despite 737 Max groundings

Strong travel demand and rising ticket prices helped offset its Boeing issues.
Credit: AP
FILE - This July 17, 2019 photo shows Southwest Airlines planes at Phoenix Sky Harbor International Airport in Phoenix. Southwest Airlines Co. reports financial earns on Thursday, Oct. 24. (AP Photo/Ross D. Franklin, File)

DALLAS (AP) — Southwest Airlines is muscling through the grounding of its Boeing 737 Max aircraft fleet, reporting a 7% jump in profits and record operating revenue.

Southwest had more Max jets than any airline when the plane was grounded in March after crashes involving other carriers in Indonesia and Ethiopia killed 346 people.

Credit: AP
FILE - In this June 13, 2019, file photo a passenger disembarks a Southwest airplane upon arriving at Louis Armstrong New Orleans International Airport in Kenner, La. Southwest Airlines Co. reports financial earns on Thursday, Oct. 24. (AP Photo/David Goldman, File)

Strong travel demand and rising ticket prices helped offset its Boeing issues.

On Thursday, Southwest Airlines Co. reported third-quarter profit of $659 million, or $1.23 per share. That easily topped Wall Street expectations for $1.09, according to a survey by Zacks Investment Research.

Revenue of $5.64 billion was in line with expectations.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at https://www.zacks.com/ap/LUV