Southwest Airlines said its passenger traffic in February grew 1.1 percent as it increased its network capacity by 1.2 percent.
The Dallas-based carrier said its load factor was flat at 79.0 percent.
Southwest also revised its unit revenue estimates for the quarter, telling investors it will decline in the two to three percent range as it lost traffic with the heavy rainfall in California.
“In addition, there was unexpected softness in close-in demand in the second half of February that has since rebounded in March. Bookings and unit revenue trends beyond first quarter 2017 remain encouraging,” the carrier said.
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Shares of Southwest [ticker: LUV] were down $1.72 around 10:15 a.m. CDT, trading around $54.64.