Aided by its fuel hedges, Southwest Airlines reported a $76 million net income for the first quarter ended March 31, nearly tripling the $26 million earned in the year-ago period. However, 2004 first-quarter results included $18 million in pre-tax operating expenses related to the consolidation of reservations operations. "Considering the many challenges our industry continues to face, we are grateful to report first-quarter earnings of $76 million," CEO Gary Kelly said. Operating revenues ...

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