Southwest Airlines
Q2 2022 Earnings Call
Jul 28, 2022, 12:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and welcome to the Southwest Airlines second quarter 2022 conference call. My name is Chad, and I will be moderating today's call. This call is being recorded, and a replay will be available on southwest.com in the Investor Relations section. [Operator instructions] At this time, I'd like to turn the call over to Mr.
Ryan Martinez, vice president of investor relations. Please go ahead, sir.
Ryan Martinez -- Vice President, Investor Relations
Thank you, all, for joining us for our second quarter earnings call. In just a moment, we will share some prepared remarks and then open it up for Q&A. And with me today, we have our CEO, Bob Jordan; executive vice president and CFO, Tammy Romo; executive vice president and chief commercial officer, Andrew Watterson; and president and chief operating officer, Mike Van de Ven. A quick reminder that we will make forward-looking statements, which are based on our current expectation of future performance and our actual results could differ substantially from these expectations.
Also, we had a few special items in our second quarter results, which we excluded from our trends for non-GAAP purposes, and we will reference our non-GAAP results as well. So please refer to our press release from this morning and our Investor Relations website for more information. And with that, Bob, I'll turn it over to you.
Bob Jordan -- Chief Executive Officer
Well, thank you, Ryan, and I appreciate everybody joining us this morning. Well, what a difference a quarter can make. Coming off first quarter's net loss, you will recall that we are encouraged by the positive trend change in travel demand in March, and we're optimistic about summer travel revenues. That said, I don't think any of us expected demand to surge to the levels we experienced in the second quarter, particularly in June.
Andrew will cover the revenue details, but Q2 operating revenues increased 13.9% versus Q2 2019 to an all-time quarterly record of $6.7 billion despite Q2 managed business revenue still down 24% and capacity that was still down about 7%. We also produced an all-time record quarterly net income, excluding special items, of $825 million. It is all because of the people at Southwest Airlines, and I want to just say a huge thank you to them for a job very well done. I want to congratulate them on the progress that we've made together.