Southwest Airlines Reports 4Q Loss

By  | 

DALLASSouthwest Airlines says it lost money in the fourth quarter as its fuel-hedging strategy lost punch.

It was Southwest's second losing quarter of 2008 after 16 straight years without finishing a three-month period in the red.

Southwest said Thursday it lost $56 million, or 8 cents per share, compared with a gain of $111 million, or 15 cents per share, a year ago. Excluding charges and other items, it earned 8 cents per share.

That beat analysts' expectations of a profit of 5 cents per share.

Southwest paid 23 percent more for fuel than a year earlier.