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Higher fares help Southwest Airlines' profit

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DALLAS (AP) -- Higher fares helped Southwest Airlines make more money than Wall Street expected in the first quarter, but the company said Thursday that automatic federal spending cuts could hurt revenue in April.

The average passenger fare on Southwest is now more than $150 one-way, 4 percent higher than a year ago.

The airline also said that a new policy on no-shows will start next month.

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