October 16, 2008 / 1:17 PM / 11 years ago

Southwest rises after quarter results

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

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