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Southwest Airlines, Denver’s second-largest carrier, reported today a third-quarter net loss of $140 million, with non-cash markdowns of $227 million related to a portion of its future fuel hedges. The Dallas-based airline had a third-quarter 2010 net income of $205 million.
Excluding special items totalling $262 million, Southwest had a third-quarter net income of $122 million. Its third-quarter operating income of $285 million compares to $355 million for the third quarter last year.
Chief executive Gary Kelly said in a statement that while it is “disappointing” to report a decline in earnings excluding special items, he was pleased with the airline’s third-quarter revenue performance.
Ann Schrader: 303-954-1967 or aschrader@denverpost.com.
