Southwest Airlines reported a record $329 million third-quarter net profit, up from $259 million for the same period last year.

The airline attributed the growth to "strong revenues, lower jet-fuel prices and a solid cost performance." Total operating revenue rose nearly 6 percent year over year to $4.8 billion, with enplaned passengers up 4.3 percent and average fare up modestly to $160.74 from $159.39. Fuel expenses declined 4.4 percent year over year, with consumption flat and average cost per-gallon down.