Southwest Airlines posted a second-quarter net profit of $733 million, down 1.3% from net income of $743 million the 2017 June quarter, as fuel hedging insulated the carrier from the much larger year-over-year (YOY) profit drops being reported by rival major U.S. carriers. The U.S. airline industry has largely abandoned fuel hedging, a strategy that paid off in recent years when oil prices were historically low. But a surge in fuel prices over the last year has hit non-hedged airlines hard; ...

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