Southwest Airlines raises fuel cost forecast for Q4

TEXAS, Dec 13 (Reuters): Southwest Airlines on Wednesday raised its forecast for fourth-quarter fuel costs, sending its shares down 1.4 per cent 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 per cent to 10 per cent year-over-year. The airline had earlier expected its RASM to fall in the range of 9 per cent to 11 per cent.
Meanwhile, Boeing deliveries rose to 56 airplanes in November as the company rebounded from a 737 manufacturing defect, putting the planemaker within striking distance of its annual targets.
Deliveries for last month were the highest since June and included 45 737 MAXs and one P-8 maritime patrol aircraft, Boeing said, confirming a Reuters report from last week.