SOUTHWEST AIRLINES RAISES FUEL COST FORECAST FOR FOURTH QUARTER

Southwest Airlines (LUV.N) on Wednesday raised its forecast for fourth-quarter fuel costs, sending its shares down 1.4% in premarket trading. The carrier, however, expects unit revenue for the quarter to improve to the higher end of its previous guidance range on the back of strong leisure demand. Southwest forecast economic fuel costs of $3.00 to $3.10 per gallon, compared with its previous estimate of $2.90 to $3.00 per gallon. It expects operating revenue per available seat mile (RASM) to be down in the range of 9% to 10% year-over-year. The airline had earlier expected its RASM to fall in the range of 9% to 11%.

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