Airlines Generally a Risky Investment
THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. CAROL COSTELLO, CNN ANCHOR: First, some advice from "Fortune" magazine.</s>ANDY SERWER, "FORTUNE" MAGAZINE: You know the airline industry has really been by and large a terrible place for investors to play over the past decade or so. Airlines have lost billions and billions of dollars, particularly the big players, you know the big three, United, Delta, American, others like Continental as well. And the reason is is that airlines face three huge challenges. First of all, they have to wrestle with unions, they have to deal with rising and falling oil prices and also they're subject to changes in interest rates. They borrow a ton of money to buy new aircraft. Now there have been some incredible exceptions. Most noteworthy, Southwest Airlines run by Herb Kelleher has been a stock market star. And the reason is that Herb never thought like any other airline CEO, no hubs, one price fares, no frills, get them on the airplanes, very different sort of structure from the other guys.