Southwest Airlines reported disappointing second-quarter earnings, falling short of analyst estimates with 43 cents per share versus 51 cents expected. Revenue also missed projections at 7.24 billion dollars. Despite the weak quarter, the airline announced a 2 billion dollar share repurchase program and noted early signs of industry recovery. They forecast a more favorable environment in the second half of the year, with slight fluctuations in revenue per seat and fuel costs. Shares experienced minimal movement after earnings.