Southwest's November traffic fell 1.5 percent

Associated Press

DALLAS (AP) -- Southwest Airlines Co. said Friday that traffic dipped in November, but a key revenue measure rose 1 percent from a year ago.

That revenue measure grew faster earlier in the year, as airlines benefited from fare increases in 2011 and early 2012, but the pace of those price hikes has slowed.

Passengers flew 8.15 billion miles last month, down 1.5 percent from 8.28 billion in November 2011.

Southwest increased passenger-carrying capacity by 0.4 percent, so planes were less crowded. The average flight was 80.0 percent full compared with 81.6 percent a year earlier. Dallas-based Southwest is the nation's fourth-biggest airline.

Shares fell 7 cents to close at $9.81.