Southwest Airlines posted sharply lower earnings of...

Southwest Airlines posted sharply lower earnings of $635,000 in the second quarter, compared to income of $17.1 million a year ago. The Dallas company blamed losses at TranStar Airlines, which Southwest plans to liquidate. TranStar, formerly Muse Air, will end service Aug. 9. Revenue was up 5% in the quarter. The company said operating profit for the Southwest unit was $8.9 million.