Southwest Airlines passenger revenue in the third quarter grew 5.1 percent year over year to $5.2 billion. The carrier saw 2.7 percent growth in traffic, as well as 2.5 percent growth in the average fare to $153.40. Southwest president Tom Nealon said both the business and leisure segments are showing strength. "Our corporate business is performing really nicely, and we are seeing very strong performance there in terms of loads and in terms of passengers," he said on Southwest's earnings call. Southwest's capacity increased 3.9 percent year over year, and load factor declined 0.9 percentage points to 83.9 percent. Net income for the quarter was $615 million, up from $528 million in the third quarter of 2017.
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