Southwest Airlines yesterday reported its 37th consecutive full-year profit, a $99 million surplus that represented a 44.4% decline from the $178 million earned in 2008, and remained committed to maintaining flat capacity this year despite improving booking trends. The 2009 result included a $35 million third-quarter charge related to a voluntary redundancy program and a $9 million fuel hedge loss. CEO Gary Kelly said last year produced "the most difficult revenue environment the airline ...

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