Southwest Air Falls as US Airlines Grapple With High Fuel Costs

Southwest Airlines Co. declined to update its full-year profit guidance as US carriers contend with soaring fuel prices amid America’s protracted war in the Middle East.

Shares in the Dallas-based airline fell 2.3% to $38.44 as of 11:14 a.m. New York time after it reported adjusted quarterly profit and revenue just shy of Wall Street’s expectations. Southwest has declined roughly 7% this year, less than the Bloomberg World Airlines Index of 60 members in the period.