Southwest Air Hits Lows Of Day

Southwest Airlines Co LUV is down sharply in early trading, falling as the company announced its load factor declined to 75.1 percent from 76.3 percent. Passenger revenue per available seat mile slipped 1 percent, though the company flew 8.05 billion revenue passenger miles, an increase of 8.6 percent.

Shares traded recently at $43.14, down 2.3 percent.

Higher oil prices may also be weighing on Southwest. American Airlines Group Inc AAL on Monday warned that fuel costs in Q1 would increase above prior estimates. The United States Oil Fund LP USO was up 2.4 percent on the day.

Year-to-date, Southwest stock is up 2 percent.