FINANCIAL DERIVATIVE INSTRUMENTS [Table]

0 Months Ended

3 Months Ended

Sep. 30, 2011

Dec. 31, 2010

Sep. 30, 2011

Notes to Financial Statements [Abstract]

		Fuel hedged as of
		September 30, 2011
Period (by year)		(gallons in millions)
Fourth quarter 2011		177
2012		1,341
2013		969
2014		777
2015		357

Schedule of derivative instruments in statement of financial position, fair value

			Asset derivatives				Liability derivatives
	Balance Sheet	Fair value at		Fair value at		Fair value at		Fair value at
(in millions)	location	9/30/2011		12/31/10		9/30/2011		12/31/10

Derivatives designated as hedges*
Fuel derivative contracts (gross)	Other current assets	$	-	$	151	$	-	$	16
Fuel derivative contracts (gross)	Other assets		-		547		-		88
Fuel derivative contracts (gross)	Accrued liabilities		71		122		138		18
Fuel derivative contracts (gross)	Other noncurrent liabilities		361		71		157		9
Interest rate derivative contracts	Other current assets		1		73		6		-
Interest rate derivative contracts	Other assets		63		-		-		-
Interest rate derivative contracts	Other noncurrent liabilities		-		-		136		4

Total derivatives designated as hedges		$	496	$	964	$	437	$	135

Derivatives not designated as hedges*
Fuel derivative contracts (gross)	Other current assets	$	-	$	164	$	-	$	284
Fuel derivative contracts (gross)	Other assets		-		212		-		304
Fuel derivative contracts (gross)	Accrued liabilities		257		40		525		222
Fuel derivative contracts (gross)	Other noncurrent liabilities		109		33		635		257

Total derivatives not designated as hedges		$	366	$	449	$	1,160	$	1,067

Total derivatives		$	862	$	1,413	$	1,597	$	1,202

* Represents the position of each trade before consideration of offsetting positions with each counterparty and does not include the impact of cash collateral deposits provided to or received from counterparties. See discussion of credit risk and collateral following in this Note.

Cash collateral deposits, due to/from third parties, and net unrealized gains/losses

		Balance Sheet	September 30,		December 31,
(in millions)		location	2011		2010
Cash collateral deposits provided		Offset against Other
	to counterparties - noncurrent	noncurrent liabilities	$	246	$	125
Cash collateral deposits provided		Offset against Accrued
	to counterparties - current	liabilities		212		-
Cash collateral deposits held from		Offset against Other
	counterparty - noncurrent	assets		-		60
Cash collateral deposits held from		Offset against Other
	counterparty - current	current assets		-		-
Due to third parties for settled fuel contracts		Accrued liabilities		10		-
Receivable from third parties for settled		Accounts and other
	fuel contracts	receivables		-		1
Net unrealized (gains) losses from fuel		Accumulated other
	hedges, net of tax	comprehensive (income) loss		469		250

Derivatives in cash flow hedging relationships

Derivatives in cash flow hedging relationships
		(Gain) loss							(Gain) loss					(Gain) loss
		recognized in AOCI on							reclassified from AOCI					recognized in income
		derivatives (effective							into income (effective					on derivatives
		portion)							portion)(a)						(ineffective portion) (b)
		Three months ended						Three months ended						Three months ended
		September 30,						September 30,						September 30,
(in millions)		2011			2010			2011			2010			2011		2010

Fuel derivative
	contracts	$	417	*	$	(122)	*	$	45	*	$	77	*	$	85	$	(24)
Interest rate
	derivatives		30	*		12	*		-			-			-		-

Total		$	447		$	(110)		$	45		$	77		$	85	$	(24)

*	Net of tax
(a)	Amounts related to fuel derivative contracts and interest rate derivatives are included in Fuel and oil and Interest expense, respectively.
(b)	Amounts are included in Other (gains) losses, net.

Derivatives in cash flow hedging relationships
		(Gain) loss							(Gain) loss					(Gain) loss
		recognized in AOCI on							reclassified from AOCI					recognized in income
		derivatives (effective							into income (effective					on derivatives
		portion)							portion)(a)						(ineffective portion) (b)
		Nine months ended						Nine months ended						Nine months ended
		September 30,						September 30,						September 30,
(in millions)		2011			2010			2011			2010			2011		2010

Fuel derivative
	contracts	$	297	*	$	66	*	$	78	*	$	226	*	$	127	$	26
Interest rate
	derivatives		34	*		34	*		-			-			-		-

Total		$	331		$	100		$	78		$	226		$	127	$	26

*	Net of tax
(a)	Amounts related to fuel derivative contracts and interest rate derivatives are included in Fuel and oil and Interest expense, respectively.
(b)	Amounts are included in Other (gains) losses, net.

Derivatives not in cash flow hedging relationships

Derivatives not in cash flow hedging relationships

	(Gain) loss
	recognized in income on
	derivatives
	Three months ended				Location of (gain) loss
	September 30,				recognized in income
(in millions)	2011		2010		on derivatives

Fuel derivative contracts	$	284	$	(26)	Other (gains) losses, net

Derivatives not in cash flow hedging relationships

	(Gain) loss
	recognized in income on
	derivatives
	Nine months ended				Location of (gain) loss
	September 30,				recognized in income
(in millions)	2011		2010		on derivatives

Fuel derivative contracts	$	129	$	13	Other (gains) losses, net

Fair values of fuel derivatives, amounts posted as collateral, and collateral posting threshold amounts

Counterparty (CP)

Other(a)

Total

(in millions)

Fair value of fuel derivatives

(256)

(228)

(95)

(50)

(23)

(5)

(657)

Cash collateral held from (by) CP

(205)

(220)

(33)

(458)

If credit rating is investment

grade, fair value of fuel

derivative level at which:

Cash is provided to CP

0 to (300)

0 to (125)

>(50)

>(75)

>(50)

or >(700)

or >(625)

Cash is received from CP

>40

>150

>200(c)

>125(c)

>250

Aircraft or cash can be pledged to CP

(300) to

(125) to

N/A

(700)(d)

(625)(d)

If credit rating is non-investment

grade, fair value of fuel derivative

level at which:

Cash is provided to CP

0 to (300)

0 to (125)

(b)

or >(700)

or >(625)

Cash is received from CP

(b)

Aircraft can be pledged to CP

(300) to

(125) to

N/A

(700)

(625)

(a) Individual counterparties with fair value of fuel derivatives <$15 million.

(b) Cash collateral is provided at 100 percent of fair value of fuel derivative contracts.

(d) The Company has the option of providing cash or pledging aircraft as collateral. No aircraft were pledged as collateral as of September 30, 2011.