Southwest swings to Q1 profit of $11 million

Southwest Airlines earned a penny a share in the first quarter as it struggled to cut costs in the face of rising fuel prices. The company's $11 million profit was in stark contrast to the $91 million lost in the first quarter last year. "We are extremely pleased to report a profitable start to the year, especially in this challenging economic environment exacerbated by persistently high energy costs," said CEO Gary Kelly, noting an uptick in business travel that could bode well for the future.

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