SW is a really smart airline... one of the reasons they haven't had any job cuts or increased their passenger surcharges is cuz they've hedged their fuel at $50 something a barrel until 2012.
So they might actually just be able to ride out the industry trough while capturing more market share from those airlines that are no longer providing value to their customers.
I thought it was till 2010. Interesting to see what would happen after that as far as their strategy is concerned. I don't think that hedging would be allowed like that in the future.