By Baltimore Business Journal

Southwest Airlines on Thursday reported a third-quarter loss, as it had non-cash markdowns of $227 million related to its fuel-hedge program.

Excluding such one-time items, Southwest had a profit.

Dallas-based Southwest (NYSE: LUV) said its net loss was $140 million, or 18 cents a share, compared with profit of $205 million, or 27 cents a share, in the same quarter of 2010.

The airline's quarterly revenue rose 35 percent to $4.3 billion.

The airline completed its acquisition of AirTran earlier this year and some of its costs were related to that deal. Rising fuel costs also weighed it down.

Southwest is the dominant carrier at Baltimore/Washington International Thurgood Marshall Airport, where it carries more than half of all passengers that travel through the gates.

Copyright 2011 American City Business Journals

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