Southwest Airlines (LUV) had a profitable third quarter, increasing its net income to $618 million from the previous quarter’s $528 million, according to MarketWatch. Although the carrier’s stock indicated down around 0.5 percent in premarket trade, it has actually grown 4.4 percent in the three months ended in September 30. Passenger revenue yield rose 2.3 percent and revenue per available seat mile (RASM) grew 1.2 percent.
Southwest is one of the top holdings in the U.S. Global Jets ETF (JETS), comprising 10.43 percent of its total portfolio, as of the most recent quarter end.
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Revenue per available seat mile (RASM) is a unit of measurement used to compare the efficiency of various airlines, obtained by dividing operating income by available seat miles.
Passenger yield measure of average fare paid per mile, per passenger, calculated by dividing passenger revenue by revenue passenger miles (RPMs).
The NYSE Arca Airline Index (XAL) is an equal dollar weighted index designed to measure the performance of highly capitalized companies in the airline industry. The XAL Index tracks the price performance of major U.S. and overseas airlines.
The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.