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Southwest scales back additions

Southwest scales back additions

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DALLAS - Southwest Airlines Co. will add fewer planes to its fleet than it had planned and is tweaking its flight schedule in several cities as the carrier grapples with a slowing U.S. economy and high fuel costs, Chief Executive Gary Kelly said Wednesday.

Instead of adding 34 aircraft by 2008, Southwest will add 19, for a total of 539 aircraft by the end of next year, Kelly said in a meeting with analysts and investors in New York.

The changes are intended to restore profit growth, which Kelly said is expected to slow to 6 percent, down from a previous forecast of 8 percent. He still maintained a revenue target of $1 billion by 2010.

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