Hey Sr. Barco. Try reading it again. Apparently you misunderstood!
There income was $273 million dollars. Their gains from fuel hedges were $225 million dollars. Press subtract. They would have made a grand total of $48 million dollars. Lets all celebrate. American made $291 million dollars. Remember that the 2nd quarter is the STRONGEST quarter by far for airlines.

I want to keep reminding people that I am in no way wishing Southwest a hard time. Nor am I predicting they will go broke. I just like to point out that Southwest has been in a protective bubble the last 4 years because of fuel hedging. Southwest is paying $36 a barrel for oil while everyone else is paying $75 a barrel! Fuel is an airlines largest expense. And what happens when an airlines largest expense more than DOUBLES?
I believe this is the 1st quarter in the past 4 years that Southwest has made a profit without gains from fuel hedging. A grand total of $48 million dollars (during the strongest quarter of the year). Yippie.

All I am saying is Southwest will no longer rule the industry when these hedges run out. They will not be able to undercut other airlines like they did the past 4 years. Other airlines will start making money, pilot pay and QOL will increase.
It's a rough world out there Southwest. Are you ready? 2009