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Southwest Airlines returns to profit
Southwest Airlines reported its first quarterly operating profit for two years.
It was back in the black before the Omicron outbreak took hold but believes the worst of Omicron is over.
It made $85 million in the fourth quarter, as revenue increased to $5.1 billion.
"We ended 2021 on a high note. While we continue to manage through an incredibly challenging operating environment, we made much progress in our recovery in 2021 and are well-positioned for future growth," said CEO Gary Kelly.
The airline still lost $1.3 billion for the year.
The airline had enjoyed nearly half a century of profits every year until the Pandemic.
Southwest expects losses in the first quarter of 2022 but sees strong bookings for spring and summer.
Kelly expects quarters 2-4 this year to be profitable.
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