Southwest Airlines Co (NYSE:LUV) shares are trading lower after the airlines reported second-quarter 2024 results. LUV reported operating revenue increase of 4.5% year-over-year to $7.354 billion, beating the consensus of $7.32 billion. Bob Jordan, President, Chief Executive Officer, & Vice Chairman of the Board of Directors, stated, “Our second quarter performance was impacted by both external and internal factors and fell short of what we believe we are capable of delivering.” Adjusted EPS was $0.58, down from $1.19 last year, above the consensus $0.51. The airline’s adjusted operating income fell 54.5% to $405 million, operating expenses increased by 13% YoY to $6.95 billion. LUV’s unit revenue declined 3.8% YoY, driven primarily by industry-wide domestic capacity growth outpacing demand. Revenue passenger miles increased 7.6% Y/Y, Available seat miles were up 8.6% Y/Y, and load factor was 82.6% compared to 83.4% last year. CASM-X increases by ...