Southwest reports quarterly net loss in 4Q08, on weak US economy and hedging losses
Southwest reported (22-Jan-09) a quarterly loss of USD56 million in the three months ended 31-Dec-08 (4Q08), after reporting its first quarterly net loss in 17 years in 3Q08. Southwest’s 4Q08 loss was in large part due to one-off expenses of USD117 million for adjusting the market value of its fuel-hedging portfolio. Excluding the special items, the LCC reported a 4Q08 net profit of USD61 million, the carrier’s 71st consecutive quarter of profitability, excluding special items.
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