I think it says a lot about SWA that they keep fares lower than they could charge because they don't gouge consumers. There's no bag fees, no soda fees, no change fees, etc. etc. It's a very flexible company to buy your tickets on. Oh and they're fun to ride on.

That being said, they've said even they haven't been buying fuel hedges lately. If oil continues to stay where it is, even THEY will face a revenue issue in the next 36 months or so.