FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements [Abstract]

Assets and liabilities measured at fair value on a recurring basis

				Fair value measurements at reporting date using:
				Quoted prices in		Significant		Significant
				active markets		other observable		unobservable
				for identical assets		inputs		inputs
Description		December 31, 2011		(Level 1)		(Level 2)		(Level 3)
Assets		(in millions)
Cash equivalents
	Cash equivalents (a)	$	774	$	774	$	-	$	-
	Commercial paper		48		-		48		-
	Certificates of deposit		7		-		7		-
Short-term investments:
	Treasury bills		2,014		2,014		-		-
	Certificates of deposit		221		-		221		-
	Commercial paper		80		-		80		-
Noncurrent investments (b)
	Auction rate securities		67		-		-		67
	Certificates of deposit		25		-		25		-
Interest rate derivatives (see Note 10)			66		-		66		-
Fuel derivatives:
	Option contracts (c)		709		-		-		709
	Swap contracts (d)		180		-		180		-
	Option contracts (d)		345		-		-		345
Other available-for-sale securities			43		38		-		5
Total assets		$	4,579	$	2,826	$	627	$	1,126
Liabilities
Fuel derivatives:
	Swap contracts (c)	$	(65)	$	-	$	(65)	$	-
	Option contracts (c)		(371)		-		-		(371)
	Swap contracts (d)		(576)		-		(576)		-
	Option contracts (d)		(266)		-		-		(266)
Interest rate derivatives (see Note 10)			(132)		-		(132)		-
Deferred compensation			(121)		(121)		-		-
Total liabilities		$	(1,531)	$	(121)	$	(773)	$	(637)
(a) Cash equivalents is primarily composed of money market investments.
(b) Noncurrent investments are included in Other assets in the Consolidated Balance Sheet.
(c) In the Consolidated Balance Sheet, amounts are presented as a net asset, and are also net of cash collateral received from counterparties. See Note 10.
(d) In the Consolidated Balance Sheet, amounts are presented as a net liability, and are also net of cash collateral provided to counterparties. See Note 10.

				Fair value measurements at reporting date using:
				Quoted prices in		Significant		Significant
				active markets		other observable		unobservable
				for identical assets		inputs		inputs
Description		December 31, 2010		(Level 1)		(Level 2)		(Level 3)
Assets		(in millions)
Cash equivalents		$	1,261	$	1,261	$	-	$	-
Short-term investments:
	Treasury bills		2,010		2,010		-		-
	Certificates of deposit		267		-		267		-
Noncurrent investments (a)			93		-		-		93
Interest rate derivatives			73		-		73		-
Fuel derivatives:
	Swap contracts (b)		286		-		286		-
	Option contracts (b)		788		-		-		788
	Swap contracts (c)		33		-		33		-
	Option contracts (c)		233		-		-		233
Other available-for-sale securities			39		34		-		5
Total assets		$	5,083	$	3,305	$	659	$	1,119
Liabilities
Fuel derivatives:
	Swap contracts (b)	$	(476)	$	-	$	(476)	$	-
	Option contracts (b)		(216)		-		-		(216)
	Swap contracts (c)		(387)		-		(387)		-
	Option contracts (c)		(119)		-		-		(119)
Interest rate derivatives			(4)		-		(4)		-
Deferred Compensation			(109)		(109)
Total liabilities		$	(1,311)	$	(109)	$	(867)	$	(335)
(a) Auction rate securities included in Other assets in the Consolidated Balance Sheet.
(b) In the Consolidated Balance Sheet, amounts are presented as a net asset, and are also net of cash collateral received from counterparties. See Note 10.
(c) In the Consolidated Balance Sheet, amounts are presented as a net liability, and are also net of cash collateral provided to counterparties. See Note 10.

Fair Value Measurements Using Significant Unobservable Inputs

		Fair value measurements using significant
		unobservable inputs (Level 3)
		Fuel		Auction rate			Other
(in millions)		derivatives		securities			securities		Total
Balance at December 31, 2010		$	686	$	93		$	5	$	784
Total gains or (losses) (realized or unrealized)
	Included in earnings		(26)		-			-		(26)
	Included in other comprehensive income		30		3			-		33
Purchases			449		-			-		449
Sales			(546)		(29)			-		(575)
Settlements			(176)		-			-		(176)
Balance at December 31, 2011		$	417	$	67	(a)	$	5	$	489
The amount of total gains or (losses) for the
	period included in earnings attributable to the
	change in unrealized gains or losses relating to
	assets still held at December 31, 2011	$	64	$	-		$	-	$	64
(a) Included in Other assets in the Consolidated Balance Sheet.

		Fair value measurements using significant
		unobservable inputs (Level 3)
		Fuel		Auction rate			Other
(in millions)		derivatives		securities			securities		Total
Balance at December 31, 2009		$	140	$	174		$	8	$	322
Total gains or (losses) (realized or unrealized)
	Included in earnings		132		-			(3)		129
	Included in other comprehensive income		68		-			-		68
Purchases			527		-			-		527
Sales			(172)		(81)			-		(253)
Settlements			(9)		-			-		(9)
Balance at December 31, 2010		$	686	$	93	(a)	$	5	$	784
The amount of total gains or (losses) for the
	period included in earnings attributable to the
	change in unrealized gains or losses relating to
	assets still held at December 31, 2010	$	142	$	-		$	-	$	142
(a) Included in Other assets in the Consolidated Balance Sheet.

Fair value, by Balance Sheet Grouping

	Carrying		Estimated fair
(in millions)	value		value
French Credit Agreements due 2012	$	7	$	7
6.5% Notes due 2012		387		382
5.25% Notes due 2014		375		393
5.75% Notes due 2016		329		355
5.25% Convertible Senior Notes due 2016		118		117
5.125% Notes due 2017		336		349
Fixed-rate 717 Aircraft Notes payable through 2017 - 10.38%		67		66
French Credit Agreements due 2018		64		65
Fixed-rate 737 Aircraft Notes payable through 2018 - 7.02%		42		43
Term Loan Agreement due 2019 - 6.315%		269		274
Term Loan Agreement due 2019 - 6.84%		106		113
Term Loan Agreement due 2020 - 5.223%		487		440
Floating-rate 737 Aircraft Notes payable through 2020 - 1.91%		604		578
Pass through certificates due 2022		411		435
7.375% Debentures due 2027		135		148