By Bob Sechler
Of DOW JONES NEWSWIRES
AUSTIN, Texas (Dow Jones)--The head of Southwest Airlines Co. (LUV) said Friday that he's become more hopeful that the discount carrier can keep its 37-year unbroken profit record, though it still hinges on fuel prices over the next few months.
Gary Kelly, chief executive of the largest U.S. domestic carrier by passengers, acknowledged that many analysts already are forecasting its record of annual profitability to end.
"We haven't conceded that we will lose money for the year," Kelly told Dow Jones Newswires on the sidelines of an Austin Economic Club meeting. He said prospects for a profitable 2009 "are better today than they were 60 days ago."
Some rivals have noted recently that revenue and traffic trends have stopped deteriorating. Kelly said he's seen few signs of a significant rebound for the airline industry or the broad economy, but concurred "at least things aren't getting worse."
The protracted recession has halted Southwest's decades-long track record of fast growth and profits, although it has continued to outperform most of the industry thanks to its fuel-hedging program.
to read more, visit: http://online.wsj.com/article/BT-CO-20090918-708505.html
