Southwest, profitable again in Q4, expects slow 2022 start

Thanks to strong passenger traffic over the winter holidays, Southwest Airlines is reporting a $68 million profit for the fourth quarter

DALLAS -- Southwest Airlines posted a narrow $68 million profit for the fourth quarter, aided by full flights during the holidays, but the airline warned Thursday that it expects to lose money in the first three months of 2022.

The rise of the omicron variant of COVID-19, along with a bad stretch of winter weather, will lead to losses in January and February, but the Dallas-based airline predicted it will be profitable for the remainder of the year.

Robert Jordan, who will take over as CEO on Feb. 1, said the omicron variant of the virus has delayed an improvement in ticket sales that Southwest had expected in early 2022.

New reported cases of COVID-19 cases remain extremely high, but began to decline last week. Citing that trend, Jordan said, “the worst appears to be behind us, and we are optimistic about current bookings and revenue trends for March.”