Better than UA, who accounted for a $500MM write-off in their fuel hedges this quarter. Oopsie.

Lots more discussion on the hedging and whether it was a good idea or not at the time CO did it here. I'm actually surprised how minimal the damage was, considering that they bought at the top. Then again, there's always a chance that they will continue to take write-downs on the hedges in the coming quarters as they contineu to lose money on them.