Originally Posted by
Beckles
(I'm not sure LUV will even make a profit in Q3 2008 with the horrible drops in passengers they've been reporting, but it's inarguable they are the only US airline with a consistently successful formula for profitability prior to Q3 2008, so it's pretty hard to bet against them.)
Considering that WN's mark-to-market loss on non-current hedges by itself could be in the $300M range, you may be right. It would be fascinating theater around these parts if WN is able to eek out a profit excluding the impact of mark-to-market losses. We might see the other side of the "if it weren't for fuel hedging" mantra.