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Third quarter 2009 results were impacted by fuel hedging losses, of USD14.4m, compared to a fuel hedging gain of USD29.2m for the third quarter 2008.
Consolidated revenues for the quarter dropped by 19.1% compared to the third quarter 2008, primarily as a result of lower yields in both the cargo and passenger business, partially offset by a 14.3% decrease in operating expenses, driven by lower fuel costs.
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