Southwest Airlines posts $11 million profit in first quarter

Southwest Airlines posts $11 million 1Q profit

A PENNY A SHARE: Southwest Airlines Co. made $11 million in the first quarter, or a penny per share. That beats the big losses reported so far by Delta, American Airlines parent AMR, and Continental.

WHO’S TRAVELING: Southwest says it’s seeing a modest pickup in business travel, judging from the number of people buying full-fare tickets.

WHAT’S AHEAD: Southwest says May and June bookings look good, and it might need the revenue to pay fuel bills. Oil is around $83 a barrel, well below the 2008 records, but if oil hits $120, “that’s where the company is in peril,” said CEO Gary Kelly.