I found an article today about WN's fuel hedging strategy.....they've done a good job, where as the legacies (because of bankruptcies, bad judegement, etc) have not..
i would be curious about the other LCC's..
"Solid Southwest can afford to stay the hedging course. It already has hedged more than 80% of its fuel needs for next year with prices capped at the equivalent of $25 per barrel of crude, 60% in 2006 at $31 a barrel, and over 40% in 2007 at $30 a barrel. That's far below where the market is betting that oil prices will be. "