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"Over all, declining fuel prices are a very good thing for an airline including Southwest Airlines," he said in an interview.
Walsh said the industry remained in dire straits and cited forecasts by the International Air Transport Association (Iata) that carriers would lose $11bn£6.6bnbn) this year despite declining fuel prices.
Declining fuel prices put more money in consumer's pockets.
Several U.S. carriers reported record quarterly profits during the year amid declining fuel prices and rising travel demand, especially among big-spending international fliers.
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The companies all recently reported better-than-expected quarterly earnings thanks to declining fuel costs and rising pricing power.
Gasoline prices rose steadily from December through April, peaking at $3.93 a gallon, according to a survey by A.A.A. Alan L. Baum, the principal of Baum & Associates, said that auto sales usually decline when fuel prices go up but that this year they had risen.
A backdrop of inflation tailwinds from declining food and fuel prices, falling unemployment and signs of wage growth finally returning, create a benign outlook for the UK economy in 2015.
A Labor Department report released Tuesday reinforced that view, with import prices, a gauge of inflation, falling 0.3 percent in February, mostly because of a decline in fuel prices.
BEHIND THE NEWS The rapid decline in fuel prices from their summer peaks was the main cause, but even with the volatile prices of energy and food excluded, the index fell 0.1percentt; producer prices were down sharply as well.
"While sustained declines in fuel prices could improve our full-year outlook, the slowing economic growth trends in the U.S. are now extending to other areas of the global economy," the chief financial officer, Alan Graf, said in a statement.
Russia's trade surplus was $11.3 billion in September, compared with $13.7 billion in August, the central bank said yesterday, as the value of oil exports fell along with a decline in fuel prices.
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