Southwest has a good year despite 34% hike in fuel costs

01/19/2012 |

Southwest Airlines says its 2011 fuel costs rose by 34%, yet the carrier managed to squeak above Wall Street estimates. Southwest recorded net income of $66 million, which equated to 9 cents a share -- and that's a full penny better than analysts forecast. "We accomplished everything we set out to do in 2011, with soaring fuel costs the only disappointment," said Southwest CEO Gary Kelly.

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