Southwest Airlines reported a $16 million third-quarter net profit

despite an $81 million hit from one-time expenses related to aircraft purchases and the integration of AirTran Airways. The carrier's one-way average quarterly fare declined slightly to $142.86, and passenger traffic fell by less than a percentage point from third-quarter 2011 levels. Passenger unit revenue increased 1 percent year over year. "While in line with the domestic industry, our third quarter 2012 year-over-year unit revenue growth was more sluggish than planned due to weaker demand, particularly in September," according to CEO Gary Kelly. "While the economy remains a significant concern, we are encouraged, thus far, by October's bookings and revenue trends." Passenger unit revenues this month "are running ahead of the comparable year ago period by approximately 4 percent," according to Kelly. Southwest's third-quarter profit compares with a $140 million net loss for the 2011 third quarter, which included $262 million in one-time expenses.