Southwest Airlines reported a 2014 net profit of $1.14 billion, up 50.7% over net income of $754 million in 2013, as expenses decreased slightly year-over-year while revenue grew 5.1%. The 2014 net profit was Southwest’s highest ever and marked the 42nd consecutive year the Dallas-based airline has been in the black. The record net profit was achieved even with Southwest taking a mark-to-market $251 million hit on fuel hedging contracts. The company’s pre-tax return on invested ...

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