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New arena at Will Rogers takes shape


The proposed Will Rogers Memorial Center arena continues to take shape as voters head for a Nov. 4 election to decide whether to approve new taxes to help pay for the $450 million facility.

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Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

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Cooking Class: Fort Worth chef brings home the gold

Toques off to Timothy Prefontaine. The executive chef at the iconic Fort Worth Club is currently the best in the nation, according to the American Culinary Federation. Prefontaine earned the title of 2014 U.S.A.’s Chef of the

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Barnett still packs economic punch, study finds

Despite reduced drilling and unstable gas prices, Fort Worth continues reaping the rewards of the Barnett Shale, according to a newly released study by The Perryman Group.7

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Time to make more Do-Nuts in DFW

Shipley Do-Nuts has signed a development agreement with Adkins Development Corp. to accelerate expansion in the Dallas-Fort Worth market.

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Southwest Airlines' 2Q profit slips 2 percent
 

 

DAVID KOENIG, AP Airlines Writer

 

DALLAS (AP) — Southwest Airlines is getting a small break at the fuel pump, and that's helping it beat Wall Street expectations for profit.

CEO Gary Kelly said Thursday that travel demand was still suffering from "the lingering effects" of automatic government spending cuts earlier this year and higher taxes, but he said third-quarter trends "are encouraging."

The company's revenue per mile — a closely watched figure in the industry — has been about 3 percent higher this month than in July 2012, and bookings for August and September "also look solid," he said.

Southwest Airlines Co., which owns AirTran Airways, said that net income in the second quarter was $224 million, or 31 cents per share, down 2 percent from $228 million, or 30 cents per share, a year ago.

Southwest said that stripping away special items — mostly changes in the value of fuel-hedging bets — it would have earned 38 cents per share in the latest quarter. That's a penny better than analysts surveyed by FactSet were expecting.

Revenue increased less than 1 percent to $4.64 billion. Southwest said that was a second-quarter record, but it fell short of analysts' forecasts of $4.66 billion.

Traffic increased about 3 percent, and the average one-way fare rose less than a buck — to $151.23. The rate of fare increases has slowed from 2011, when airlines raised prices quickly to offset higher fuel costs.

Southwest and AirTran added flights in the quarter, so the average plane was 81.6 percent full, down slightly from 81.9 percent a year earlier. But capacity in June hit a record 85 percent as the summer vacation season hit full stride.

Lower oil prices early in the April-to-June quarter helped Southwest save 6 percent on fuel, its biggest expense. But labor, the next biggest item, rose 6 percent.

Kelly said the company was on schedule to repaint AirTran planes in Southwest colors and combine the two carriers by the end of next year. Southwest will complete the update of its reservations system next year, allowing it to handle international flights, he said.

Its shares finished at $13.76 on Wednesday.

 

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What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?