Why do so many people assume that fuel hedging is SWA's only cost advantage? SWA's management (and other employees) work hard to create new operational efficiencies and improve proven ones. I'm guessing that much of this has to do with SWA organizational culture.

And is cost alone SWA's only operational advantage? Of course not! SWA still ranks #2 in ontime performance and has fewer consumer complaints than any US airline (see Air Transport World, June 06). SWA consistently gets the job done with efficiency and quality, as measured by industry benchmarks. SWA's great people will likely shine as bright in the future as they have in the past.