Southwest Airlines returned to profit after three consecutive quarters in the red, earning $54 million in the second quarter, down 83.2% from $321 million in the year-ago period, although it warned that "based on weak travel demand and fuel price volatility, we cannot predict a profitable third quarter 2009." Chairman, President and CEO Gary Kelly cited a 4.6% fall in unit cost excluding special items and a 22.8% drop in economic fuel costs as key to SWA's performance, although other ...

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