Fuel hedge losses, restructuring charges and special items sank Alaska Airlines and Horizon Air parent Alaska Air Group to a $135.9 million net loss in 2008, reversed from a $124.3 million profit in 2007. In the fourth quarter alone the company recorded an $80.2 million mark-to-market fuel hedge loss, $50 million in realized losses related to the early termination of fuel hedge contracts, restructuring charges of $9.2 million and $6.7 million in costs related to the disposal of Horizon's ...

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