Southwest narrows Q3 RASM guidance to down 5%-7%, raises fuel cost outlook

SOUTHWEST AIRLINES CO

RASM now expected down 5%-7% YoY vs prior down 3%-7% range.
Economic fuel cost per gallon raised to $2.70-$2.80 from $2.55-$2.65.
August leisure bookings on lower end of expectations, but demand and yields remain healthy.
Labor Day weekend produced record revenue performance.
Company still expects record Q3 operating revenues and solid profits for Q3 and FY 2023 ex special items.

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