NEW YORK (Reuters) - Shares of Southwest Airlines (LUV.N) rose 3.4 percent to $11.95 after the low-cost airline swung to a quarterly net loss on charges related to its fuel hedging program.
Its shares closed on the NYSE on Wednesday at $11.56.
Southwest reported a net loss of $120 million, or 16 cents per share, compared with a profit of $162 million, or 22 cents per share, a year earlier. For more see [ID:nN16370924].
But excluding one-time items, Southwest earned $69 million, or 9 cents per share, beating the average Wall Street estimate of 7 cents per share, according to Reuters Estimates.
Reporting by Leah Schnurr; Editing by James Dalgleish