Southwest Airlines expects an 8% to 10% decline in Q2 revenue per seat mile

Southwest Airlines (NYSE:LUV) maintained its profits forecast for Q2 ahead of the Bernstein Strategic Decisions Conference, citing robust leisure travel demand and yields.
The carrier expects revenue per seat flown one mile to fall 8% to 10% in Q2 vs. previous view of a fall of 8% to 11%.
However, the airline continues to expect a strong adjusted profit for FY2023 as leisure travel drives up ticket sales.
In a regulatory filing, the airline stated that it has made no substantial changes to its 2023 fleet or capacity plans compared to earlier guidance, reflecting its estimate of receiving around 70 Boeing (BA) 737-8 aircraft deliveries.
This comes only one day after American Airlines (NASDAQ:AAL) boosted its Q2 profit forecast, citing increased travel demand.
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