Southwest Airlines posts quarterly profit

NEW YORK (Reuters) - Southwest Airlines Co (LUV.N), which has a history of successfully hedging against high fuel costs, on Thursday posted a quarterly profit.

Second-quarter net income rose to $321 million, or 44 cents a share, from $278 million, or 36 cents per share, a year earlier.

Excluding special items, earnings fell to $121 million, or 16 cents per share, from $195 million, or 25 cents per share.

(Reporting by Mark McSherry; Editing by Lisa Von Ahn)