Southwest Airlines Co. (LUV) reported the following data (in millions) for a recent year.

Southwest refers to its utilization rates as "passenger load factor."
1. Compute the passenger load factor (utilization rate) for each year.
2. Compute the passenger revenue per seat mile flown. Express in cents rounded to one decimal place.
3. Comment on (1) and (2).

Transcribed Image Text:

Year 3 Year 2 Year 1 Available seat miles 140,501 131,004 130,344 Passenger miles tl wn 117,500 108,035 104,348 18,299 $17,658 $16,721 Revenue