Southwest Airlines Reports Profits

Southwest Airlines reported net income for the fourth-quarter 2007 of $111 million compared to $57 million in the fourth quarter of 2006. For the full year, Southwest's net income was $645 million compared to $499 for all of 2006. CEO Gary C. Kelly said the carrier was impacted by higher-than-expected fuel costs and softer demand for domestic air travel. Like other major airlines, Southwest was also affected by air traffic congestion, unusually difficult weather and security-related challenges. Despite the problems, Southwest reported its 35th consecutive year of profitability in 2007. (GD)