Southwest says fuel costs may jump $500 mln in 2008

WASHINGTON, April 10 (Reuters) - Southwest Airlines (LUV.N: Quote, Profile, Research)
said on Thursday its 2008 spending on jet fuel could rise more
than $500 million from last year because of rising oil prices.

In a filing with the Securities and Exchange Commission,
Southwest said it had hedging contracts in place for more than
70 percent of its expected jet fuel consumption in 2008 at an
average price of about $51 per barrel of crude oil.

"Based on this current outlook, Southwest has reduced its
previously planned growth rate for 2008," the company said,
adding that it would increase its fleet by a net seven aircraft
this year.

The SEC filing was posted at:
here .
(Reporting by Julie Vorman)