Southwest Airlines saw its earnings drop 32 percent during the first quarter compared to a year ago as it wrestled higher fuel and labor costs
Dallas-based Southwest (NYSE: LUV) reported an 8.2 percent rise in fuel costs and a 12.6 percent jump in labor costs. Southwest has hub and major operations in Phoenix and at Sky Harbor International Airport.
Southwest posted earnings per share of 57 cents, down from 79 cents in 1Q 2015.
Excluding special items and expenses, Southwest had earnings of 61…