Northwest Airlines Corporation (Northwest) (NYSE:NWA) has announced its results for the second quarter 2008.

The airline reported a net loss of USD377m, or USD1.43 per share, for the quarter. This is inclusive of a USD250m gain from marking-to-market out-of-period fuel hedges and a net non-cash impairment charge of USD547m. In the second quarter of 2007, Northwest recorded a net income of USD2.1bn including USD1.9bn related to reorganisation items.

The net income for the second quarter excluding the impairment charge is USD170m, compared to USD205m for the same period last year, not including reorganisation items.

Jet fuel prices for the quarter increased by 69.3% over the second quarter 2007, at USD3.45 per gallon compared to USD2.04. This resulted an increase of total fuel costs for the quarter, excluding out-of-period hedge gains, of USD637m.