Southwest Airlines posted a fourth quarter net loss of $56 million

--primarily resulting from higher fuel costs and losses related to its fuel hedge portfolio. Excluding all one-time items, the company's fourth quarter result was a $61 million net profit, down from $87 million a year earlier. Though Southwest recorded its 36th consecutive full-year profit in 2008, of $178 million, that was down significantly from the 2007 net profit of $645 million.