I wouldn't be so sure. Even after 9/11, Southwest had minimal layoffs. Source: http://tinyurl.com/5mbq9y http://tinyurl.com/5mbq9y While I certainly agree that

I wouldn't be so sure. Even after 9/11, Southwest had minimal layoffs. Source: http://tinyurl.com/5mbq9y http://tinyurl.com/5mbq9y While I certainly agree that fuel hedging has played a large role in their current short-term profitability, there's a lot more at work than well timed utilization of financial derivatives.