January 23, 2009

Southwest Airlines plans to shrink for first time in history

Southwest Airlines plans to shrink this year for the first time in the company’s history as it navigates a stormy financial environment. The Dallas-based discount carrier, which carries more passengers than any other U.S. airline, reported a $56 million loss for the fourth quarter, only its second quarterly loss ever. Southwest blamed the loss ona sharp fluctuation in fuel prices.

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