Southwest Airlines reported its 70th consecutive quarterly operating profit. After special charges totaling $247 million primarily related to mark-to-market adjustments on a portion of the future periods’ fuel hedge portfolio required by Statement of Financial Accounting Standard (SFAS) 133, the Company reported a third quarter 2008 net loss of $120 million. This compares to net income of $162 million, for third quarter 2007. Excluding these special charges and other special items, the Company reported third quarter 2008 net income of $69 million compared to $156 million for third quarter 2007.
Etihad Airways returns to Kolkata, India
Etihad Airways, the national carrier of the UAE, touched down in Kolkata, India, on March 26, as the airline made its much-anticipated return to the city. With a total of seven-weekly nonstop services, the airline will once again connect India’s financial capital, Kolkata, with the world through Abu Dhabi. The first flight on the new