Southwest Says Airfare Weakness Persists as Competition Sharpens

July 21, 2016 1:22 PM

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Southwest Airlines Co. said heightened competition is driving down airfares more than in previous quarters as the industry’s capacity expansion outstrips demand.

The discount carrier has seen particular weakness in tickets sold just before travel over the past several weeks, a challenge larger rivals have also highlighted in recent quarters. Prices have weakened since the first quarter, Chief Executive Officer Gary Kelly said in an interview Thursday.

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