Airlines like Southwest, Alaska and United are paying more for jet-fuel this summer.
narrowed its unit revenue outlook for the current quarter. The Dallas-based carrier said it expected unit revenue to fall 5% to 7% from last year in the three months ending Sept. 30. In July, Southwest said revenue could drop as little as 3% this quarter from last year.
"While August 2023 close-in leisure bookings were on the lower-end of the Company's expectations, modestly impacted by seasonal trends, overall leisure demand and yields continue to remain healthy," the carrier said in a securitiesSouthwest said that it expects fuel to average $2.70 to $2.80 a gallon this quarter, up from its earlier estimate of up $2.55 to $2.65. It maintained its forecast for capacity to rise 12% from 2022.
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