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Old 04-21-2003, 03:33 PM   #1
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Southwest Airlines boosts profits, defying US crisis

Southwest Airlines boosts profits, defying US crisis

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Southwest Airlines, defying the headwinds of an airline crisis, said it had boosted profits in the first quarter of 2003 as all its competitors lost.

The budget carrier is the only major US airline so far to post a profit in the three months to March 31.

Among its competitors, world number one American Airlines narrowly averted bankruptcy last week, United Airlines is still operating under bankruptcy and US Airways emerged from bankruptcy just three weeks ago.

Southwest Airlines, despite reporting softer bookings in the runup to the Iraq war, boosted net profit 14.3 percent in the quarter.
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