While most of the major airlines have been complaining about fuel prices, hurricanes and competition, Southwest Airlines reported yet another quarterly profit yesterday, nearly doubling its earnings from a year ago. It also announced it would start service to Denver.

The Dallas-based airline, which is the nation's largest discount carrier, said it earned $227 million during the third quarter, continuing an unbroken string of profitable quarters dating to 1973.

"We are very pleased to report a strong earnings performance despite dramatic destruction from Mother Nature," said Gary Kelly, the airline's chief executive, in a conference call with analysts and reporters.

The earnings were boosted by a one-time $87 million gain related to fuel hedging contracts. Excluding the gain, the airline's earnings per share totaled 21 cents, ahead of Wall Street's forecast of 18 cents per share.

Southwest earned its profit despite high fuel prices that have wracked the rest of the industry. The airline is protected by fuel hedging contracts that lock in most of the company's purchases at a lower price. The contracts saved the airline $295 million during the third quarter.

The airline also reaped the benefits of higher revenue during the quarter, up 19 percent. The increase came from strong demand for travel coupled with a modest fare increase.

The major airlines are expected to report nearly $1 billion in losses for the quarter, with Southwest and Continental Airlines the only carriers reporting profits. American Airlines posted a $153 million loss for the quarter on Wednesday.

Investors did not buy Southwest stock despite the profit report. Shares were down 48 cents in trading yesterday, closing at $15.10 per share.