12-09-2014
09:09 AM
12-09-2014
09:09 AM
Gary C. Kelly, Chairman, President & CEO of Southwest Airlines Co. (NYSE: LUV) makes a return visit to the Yale Club in midtown Manhattan for a moderated discussion and q-and-a at the Wings Club December Luncheon. Southwest Airlines Co. will webcast live audio of the discussion available through a link to the on the Investor Relations homepage on the Southwest Airlines website. Details of the audio webcast follow:
Date:
Thursday, Dec. 11, 2014
Time:
1:00pm EST
(NOTE: Broadcast start will depend on flow of the luncheon.)
Speaker:
Gary Kelly, Chairman of the Board, President and Chief Executive Officer
Web Address:
http://southwest.investorroom.com/
To access the live audio webcast, click on the link above, or go to southwest.com and click "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
Minimum Requirements to listen to broadcast: Windows Media Player software, downloadable free from http://www.microsoft.com, and at least a 56K bps connection to the Internet. If you experience problems listening to the webcast, click on Help in the webcast browser.
SOURCE Southwest Airlines
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12-08-2014
11:41 AM
12-08-2014
11:41 AM
Airline continues legacy as the hometown carrier that cares This release contains: 1 Related Document Southwest Airlines® (NYSE: LUV) was recognized today as one of America's most community-minded companies in The Civic 50, an annual initiative that identifies and recognizes companies for their commitment to improve the quality of life in the communities where they do business. Points of Light, the largest organization in the world dedicated to volunteer service, conducted the survey in partnership with Bloomberg LP. All companies with more than $1 billion in revenue are invited to apply for the Civic 50.
"Southwest is committed to a triple bottom line of People, Performance, and Planet. Our hope is to encourage change within our Company that extends into our communities, and eventually out into our world," said Linda Rutherford, Southwest Airlines' Vice President Communications & Outreach. "We are honored to be recognized alongside companies who are committed to making a difference."
Southwest Airlines is proud to support qualified 501(c)(3) charitable organizations within the communities it serves, especially those that fall within its areas of strategic focus: Families Facing Serious Illness, Military and Family Members, Volunteerism, Disaster Preparedness and Response, Placemaking, and the Environment. Additionally, Southwest strategically fosters community partnerships around Diversity Initiatives, Leadership Programs, and Civic Engagement. Developing strategy around these pillars helps determine the carrier's investment of time, money, and resources within those focus areas. In 2013, Southwest donated nearly $19 million in tickets and cash, supported almost 5,000 individual charities, and volunteered more than 144,000 hours.
The Civic 50 was created in 2012 to measure corporate civic engagement and recognize companies that incorporate socially-responsible practices and community leadership into their Culture. The survey evaluates companies based on several criteria, including how extensively and strategically resources are applied to community engagement, how a community engagement program supports business interests and integrates into business functions. Other criteria include how a company supports community engagement through its institutional policies, systems, and incentives, and how a company measures the social and business impact of its community engagement program. True Impact, a company specializing in helping organizations maximize and measure their social and business value, administered the survey.
To view a complete list of The Civic 50 companies for 2014, and to learn more about the importance of civic engagement in corporate America, please visit www.Civic50.org.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate more than 3,400 flights a day, serving 93 destinations across the United States and five additional countries. Subject to government approvals, service to San Jose, Costa Rica, begins in March 2015, and service to Puerto Vallarta, Mexico, begins in June 2015.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which is equipped with satellite-based WiFi providing gate to gate connectivity while over the United States. That connectivity enables Customers to use their personal devices to access streaming music provided by Beats Music, or to view video on-demand movies and television shows, as well as nearly 20 channels of free, live TV compliments of DISH. Southwest is the only major U.S. airline to offer Bags Fly Free® (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.
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12-08-2014
09:45 AM
12-08-2014
09:45 AM
Southwest Airlines Co. (NYSE: LUV) announced today that the Company flew 8.6 billion revenue passenger miles (RPMs) in November 2014, a 6.0 percent increase from the 8.1 billion RPMs flown in November 2013. Available seat miles (ASMs) increased 4.0 percent to 10.7 billion from the November 2013 level of 10.3 billion. The November 2014 load factor was 80.1 percent, compared to 78.6 percent in November 2013. For November 2014, passenger revenue per ASM (PRASM) is estimated to have increased in the four to five percent range, compared to November 2013. For fourth quarter 2014, the Company currently estimates PRASM will increase in the one to two percent range, as compared to fourth quarter 2013.
For the first eleven months of 2014, the Company flew 98.8 billion RPMs, compared to 95.4 billion RPMs flown for the same period in 2013, an increase of 3.6 percent. Year-to-date ASMs remained relatively flat at 119.9 billion compared to the 119.5 billion for the same period in 2013. The year-to-date load factor was 82.4 percent, compared to 79.8 percent for the same period in 2013.
This release, as well as past news releases about Southwest Airlines Co., is available online at southwest.com.
Southwest Airlines Co.
Preliminary Comparative Traffic Statistics
NOVEMBER
2014
2013
Change
Revenue passengers carried
9,011,648
8,563,456
5.2%
Enplaned passengers
10,898,103
10,459,885
4.2%
Revenue passenger miles (000s)
8,553,730
8,066,291
6.0%
Available seat miles (000s)
10,674,900
10,264,024
4.0%
Load factor
80.1 %
78.6 %
1.5 pts.
Average length of haul
949
942
0.7%
Trips flown
100,442
102,069
(1.6)%
YEAR-TO-DATE
2014
2013
Change
Revenue passengers carried
100,902,542
98,768,187
2.2%
Enplaned passengers
124,100,764
121,667,407
2.0%
Revenue passenger miles (000s)
98,810,751
95,372,628
3.6%
Available seat miles (000s)
119,852,237
119,504,160
0.3%
Load factor
82.4 %
79.8 %
2.6 pts.
Average length of haul
979
966
1.3%
Trips flown
1,150,952
1,205,628
(4.5)%
SOURCE Southwest Airlines Co.
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12-03-2014
04:24 PM
12-03-2014
04:24 PM
Southwest Airlines (NYSE: LUV) announced today that its Customer Service Agents (CSAs) and Customer Representatives (CRs), represented by the International Association of Machinists and Aerospace Workers (IAM), have voted in favor of a new four-year contract. The agreement includes pay increases, as well as bonus opportunities that are tied to Company and Employee performance.
"I am proud to have a new, lucrative contract that rewards our Employees for their exceptional performance, while adding flexibilities that support our mission of being the number one low-cost carrier in the country," said Randy Babbitt, Southwest Airlines' Senior Vice President Labor Relations. "With the ratification coming before the end of the year, our IAM Employees will benefit from Southwest's outstanding 2014 financial accomplishments."
Southwest Airlines is approximately 83 percent unionized and actively engaged in negotiations with six out of its 12 unions. The airline is known for its friendly Customer Service and currently serves as the largest domestic carrier in terms of passengers boarded.
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate more than 3,400 flights a day, serving 93 destinations across the United States and five additional countries. Subject to government approvals, service to San Jose, Costa Rica, begins in March 2015, and service to Puerto Vallarta, Mexico, begins in June 2015.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which is equipped with satellite-based WiFi providing gate to gate connectivity while over the United States. That connectivity enables Customers to use their personal devices to access streaming music provided by Beats Music, or to view video on-demand movies and television shows, as well as nearly 20 channels of free, live TV compliments of DISH. Southwest is the only major U.S. airline to offer Bags Fly Free® (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.
SOURCE Southwest Airlines
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12-03-2014
02:08 PM
12-03-2014
02:08 PM
Southwest Airlines (NYSE: LUV) announced today that its Customer Service Agents (CSAs)and Customer Representatives(CRs), represented by the International Association of Machinists and Aerospace Workers (IAM), have voted in favor of a new four-year Contract. The agreement includes pay increases, as well as bonus opportunities that are tied to Company and Employee performance.
"I am proud to have a new, lucrative contract that rewards our Employees for their exceptional performance, while adding flexibilities that support our mission of being the number one low-cost carrier in the country," said Randy Babbitt, Southwest Airlines' Sr. VP of Labor Relations. "With the ratification coming before the end of the year, our IAM Employees will benefit from Southwest's outstanding 2014 financial accomplishments."
Southwest Airlines is approximately 83 percent unionized and actively engaged in negotiations with six out of its 12 unions. The airline is known for its friendly Customer Service and currently serves as the largest domestic carrier in terms of passengers boarded.
# # #
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12-02-2014
11:30 AM
12-02-2014
11:30 AM
Southwest Airlines participates in global giving back holiday with donations benefitting 10 nonprofit organizations
Southwest Airlines (NYSE: LUV) today announced a $25,000 donation to 10 nonprofit organizations in honor of #GivingTuesday, a global holiday dedicated to giving back.
"Southwest Airlines has always been dedicated to making a positive difference in the communities we serve. We are excited to participate in this special day of giving in addition to our ongoing community outreach efforts," said Linda Rutherford, Southwest Airlines' Vice President of Communication & Outreach. "#GivingTuesday is a great opportunity to join a worldwide movement that brings people together for one common purpose: to give back. This is a great way for Southwest to raise awareness for these nonprofit organizations and empower them with the resources they need to achieve their missions."
In the airline's first year to participate in #GivingTuesday, the company will give $2,500 each to the following 10 nonprofit organizations:
3Arts advocates for Chicago's women artists, artists of color, and artists with disabilities who work in the performing, teaching, and visual arts
All Hands Volunteers is dedicated to providing immediate, effective, and sustainable support to communities in need by harnessing the energy and commitment of dedicated volunteers
AmeriCares is a nonprofit emergency response and global health organization that delivers medical and humanitarian aid to people in need worldwide
Dream Foundation® enhances the quality of life for individuals and their families facing a life-threatening illness by fulfilling a heart's final wish
FIRST® inspires young people to be science and technology leaders, by engaging them in exciting mentor-based programs that build science, engineering, and technology skills, that inspire innovation, and that foster well-rounded life capabilities including self-confidence, communication, and leadership
Miracle Flights for Kids® helps fly children who are struggling with serious cancers and other debilitating diseases to specialized medical treatment centers across the U.S.
Team Rubicon unites the skills and experiences of military veterans with first responders to rapidly deploy emergency response teams
The Mission Continues empowers veterans to serve in new ways at home so that their shared legacy will be one of action and service
The Student Conservation Association builds the next generation of conservation leaders and inspires lifelong stewardship of the environment and communities by engaging young people in hands-on service to the land
The Washington Center for Internships and Academic Seminars provides students with transformational experiences that foster academic and professional achievement, leadership, and civic engagement
To learn more about Southwest Airlines' commitment to the community, please visit southwest.com/citizenship.
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
Book Southwest Airlines' low fares online at southwest.com or by phone at 800-I-FLY-SWA.
ABOUT #GivingTuesday
December 2, 2014, follows the widely recognized shopping events Black Friday and Cyber Monday, kicking off the holiday giving season with a global day dedicated to charitable giving, harnessing the power of social media and the generosity of people around the world to bring about real change in their communities. Now in its third year, #GivingTuesday is a worldwide movement that celebrates the power of giving in all its forms. This effort harnesses the collective power of a unique blend of partners – charities, families, businesses and individuals – to transform how people think about, talk about and participate in the giving season. #GivingTuesday inspires people to take collaborative action to improve their local communities, give back in better, smarter ways to the charities and causes they celebrate and help create a better world. #GivingTuesday harnesses the power of social media to create a global moment that is dedicated to giving around the world. #GivingTuesday was founded by 92nd Street Y and is spearheaded in tandem with the support of the United Nations Foundation. A team of recognized experts and influencers, initially convened by leaders of 92nd Street Y and the United Nations Foundation and supported by a core group of founding partners, originally spearheaded this effort. The founding partners in 2012 included Blackbaud, CECP, charity: water, GlobalGiving, Groupon, Kiva, Microsoft, Pvblic Foundation, (RED), and Unilever, United Nations Development Programme, among many others.
SOURCE Southwest Airlines
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11-25-2014
02:45 PM
11-25-2014
02:45 PM
Rink Visitors Encouraged to Warm Up the Community with Donations to Volunteers of America This release contains: 1 Related Document, 7 Photos Southwest Airlines® (NYSE: LUV) and the Downtown Denver Partnership are excited to announce the Southwest Rink at Skyline Park is open for Mile High Residents to take to the ice. City of Denver Mayor Michael B. Hancock, along with City Councilman Albus Brooks, City Councilwoman Judy Montero, Downtown Denver Partnership CEO & President Tami Door, Volunteers of America Director of Community Affairs Jim White, and Southwest Airlines Denver Station Leader Danielle Reidder, welcomed children from the Sun Valley Youth Center to the Southwest Rink today to be among the first to take a spin on the freshly-frozen ice.
To celebrate the fifth anniversary of the Southwest Rink in Downtown Denver, Southwest is extending its warm heart within the Community by encouraging Rink visitors to bring a donation of socks, gloves, or mittens to a special Volunteers of America donation area at the Rink throughout the entire Rink season in exchange for free skate rentals. Mayor Hancock and Jim White personally kicked off the giving season by donating socks and gloves to the Sun Valley Youth Center.
"The Southwest Rink at Skyline Park is quickly becoming one of my favorite events to kick off the winter season," said Denver Mayor Michael B. Hancock. "The City’s collaboration with Southwest Airlines and the Downtown Denver Partnership is creating a new tradition for Denver that is fun and inexpensive for friends and families alike."
“We had more than 44,000 Denver residents, employees, and visitors lace up their skates last year at the Southwest Rink at Skyline Park,” said Downtown Denver Partnership’s CEO & President Tami Door. “The Southwest Rink is a shining example of how activation can turn a space into a place that people “LUV”. We thank Southwest Airlines for making this a possibility and for their continued investment in the center city.”
“Southwest Airlines is dedicated to Denver,” said Danielle Reidder, Southwest Airlines Denver Station Leader. “Denver is an important market for us and having the opportunity to offer a place for the Community to gather and spend time with their friends and family is something we truly value. We’re thrilled to partner with the Downtown Denver Partnership for another successful year of winter fun and events!”
Last year, the Rink gathered a total of 44,499 visitors who laced up their skates and enjoyed the festivities. After four seasons of the Southwest Rink, more than 163,540 skaters have taken to the ice, and the fifth season is expected to raise that number to more than 210,000 skaters!
The Rink is located in Skyline Park next to the historic Daniels & Fisher Tower and near the intersection of 16th and Arapahoe streets. Skating will once again be FREE to the public with the option to bring skates or rent a pair for just $2. To bring some extra cheer to families visiting the Downtown Denver area this holiday season, the Rink will be open on Thanksgiving Day from 11 a.m. to 6 p.m. For more information, hours, and programming, visit southwestrink.com
The Rink is made possible by a public-private partnership among the City of Denver Parks and Recreation Department, the Downtown Denver Partnership, and Southwest Airlines.
Southwest Airlines began service to Denver on Jan. 3, 2006, with 13 daily nonstop departures to three destinations. The airline currently operates 167 daily nonstop flights to 56 destinations from Denver, including international service to San Jose del Cabo/Los Cabos and Cancun, Mexico. Southwest is also actively engaged in the community through sponsorships of the Downtown Denver Partnership, the Denver Nuggets, Red Rocks Amphitheater, Concerts for Kids, Volunteers of America and many more local organizations. Find more about Southwest’s dedication to Denver here.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate more than 3,400 flights a day, serving 93 destinations across the United States and five additional countries. Subject to government approvals, service to San Jose, Costa Rica, begins in March 2015, and service to Puerto Vallarta, Mexico, begins in June 2015.
Based on the U.S. Department of Transportation’s most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which is equipped with satellite-based WiFi providing gate to gate connectivity while over the United States. That connectivity enables Customers to use their personal devices to access streaming music provided by Beats Music, or to view video on-demand movies and television shows, as well as nearly 20 channels of free, live TV compliments of DISH. Southwest is the only major U.S. airline to offer Bags Fly Free® (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what’s important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.
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11-20-2014
03:47 PM
11-20-2014
03:47 PM
The Southwest Airlines Pilots Association (SWAPA) today filed for mediation with the National Mediation Board (NMB), the federal agency that oversees contract negotiations for the airline industry.
"We have been optimistic that we were closing the gap to achieve a new agreement, but the SWAPA Board stopped further negotiations and has chosen mediation as its next step," said Randy Babbitt, Southwest's Senior VP of Labor Relations. "We have the best, most professional pilots in the industry, and we want to ensure that they are not only fairly compensated for their excellence, but that their futures are secure."
Babbitt said that the company indicated its willingness to file jointly for mediation, which would have allowed the parties to seek Expedited Mediation from the NMB, a process that would likely lead to an agreement quicker than traditional mediation, but SWAPA declined that offer.
Southwest, the nation's largest carrier in terms of originating domestic passengers boarded, employs more than 7,000 Pilots.
# # #
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11-20-2014
01:51 PM
11-20-2014
01:51 PM
Southwest Airlines' (NYSE: LUV) Board of Directors declared a quarterly dividend of $.06 per share to Shareholders of record at the close of business on December 11, 2014 on all shares then issued and outstanding. The 153rd consecutive dividend will be paid on January 2, 2015.
SOURCE Southwest Airlines
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11-12-2014
12:15 PM
11-12-2014
12:15 PM
Southwest Airlines Placemaking Grant to Catalyze Revitalization in Downtown Houston This release contains: 1 Related Document The City of Houston, Southwest Airlines (NYSE: LUV) and the Project for Public Spaces have announced an effort that will lead to a new vibrant place in downtown Houston and reimagine the Central Library Plaza located between the Central Library and the Julia Ideson Building across the street from City Hall. A Heart of the Community grant from Southwest Airlines is the catalyst that will allow the Houston Public Library to implement its plan to redesign the space, turning it into a welcoming and vibrant extension of the buildings flanking the Plaza. The concept of Placemaking will be at the center of the revitalization effort to turn the now underutilized space into an energetic hub which will spark social, economic, environmental and cultural benefits throughout the central business district.
Placemaking is a quiet movement that is revolutionizing cities across America and encouraging community participation in the design and programming of public spaces. The results of Placemaking, which can be seen at Houston's Discovery Green and Market Square Park, show the potential for neglected spaces to be transformed into urban oases which will provide positive community impacts for generations to come. In 2011, after completion of several major Placemaking campaigns, PPS named Houston as the Placemaking Capital of North America. The Heart of the Community grant will further grow the movement of Placemaking in Houston and drive more people to participate in the process.
Through a full community process and unique Placemaking activation on the Central Library Plaza, Houston Public Library can better continue its mission of providing resources, cultural programming and educational activities for the people of Houston.
"During the past decade, Houston has become known for its vibrant public spaces – areas where the community has room to thrive and grow," said Annise D. Parker, Mayor of Houston. "This grant from Southwest Airlines creates another opportunity for us to continue guiding the development of this great American city. We are all excited to participate in the processes and witness the many benefits of Placemaking. Together we can save our public spaces."
This is the second nationwide Heart of the Community grant to be announced in 2014, which creates a community collaboration among Southwest Airlines, selected local partner organizations, PPS – the pioneering nonprofit organization behind Placemaking. Southwest Airlines believes in connecting people with what's important in their lives, and recognizes that these connections often happen in important places. With the Heart of the Community program, Southwest is acting on their vision to bring Placemaking to all cities where they fly, highlighting the importance of "Place" and a community's need to support its residents. For the airline, Placemaking is more than "building" great destinations but rather, strengthening local communities.
"We have a long history of serving the city of Houston, and the Heart of the Community grant is just one example of our commitment to the city," said Teresa Laraba, Senior Vice President of Customers at Southwest Airlines. "When we began flying in 1971, Houston was one of our original three cities. Today, even as we serve more than 90 destinations, this community and its people remain extremely close to our hearts. We are proud to support these local efforts in hopes of creating a new gathering place in Houston to build resiliency in the already thriving community."
Around the world, libraries serve as community hubs; they provide a space for people to gather and assemble without regard to class, color or economic status; they promote education and access to technology; and, they support the development of our youngest neighbors. This activation will augment the Library's role as a downtown anchor and create even more reasons for the estimated 140,000 daily workers and other visitors to the corridor.
"We have seen again and again how Placemaking has been able to reshape and activate spaces in Houston," said Dr. Rhea Brown Lawson, Director of Libraries. "The strong support, project management expertise and technical assistance provided Southwest Airlines and the Heart of the Community program will create a lasting change in our downtown. I am excited to witness how an activated Central Library Plaza will bring our community together in new and exciting ways."
As part of the Placemaking process, visitors to the farmers market have been engaging with Library staff on identifying the types of programs, activities and amenities they would like to see on the plaza – to refine the earlier Placemaking vision for the space. Library employees will continue this offering weekly at Central Library during the Farmers Market for anyone who is interested or wants to contribute to the process. Details with times and location will be shared on the Houston Library's Facebook page.
# # #
About the Houston Public Library The Houston Public Library (HPL) operates 35 neighborhood libraries, four HPL Express Libraries, a Central Library, the Houston Metropolitan Research Center, the Clayton Library Center for Genealogical Research, The African American Library at the Gregory School, and the Parent Resource Library located in the Children's Museum of Houston. Serving more than seven million customers per year in person and online, HPL is committed to excellent customer service and equitable access to information and programs by providing library customers with free use of a diverse collection of printed materials and electronic resources, Internet, laptop and computer use, and a variety of database and reference resources with live assistance online 24/7.
About Southwest Airlines Co. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals. Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.
About Project for Public Spaces Project for Public Spaces is a nonprofit planning, design and educational organization dedicated to helping people create and sustain public spaces that build stronger communities. Its pioneering Placemaking approach helps citizens transform their public spaces into vital places that highlight local assets, spur rejuvenation and serve common needs. PPS was founded in 1975 to apply and expand on the work of William (Holly) Whyte, the author of The Social Life of Small Urban Spaces. Since then, the organization has completed projects in over 3000 communities in 43 countries and all 50 US states and are the premier center for best practices, information and resources on Placemaking.
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11-11-2014
10:49 AM
11-11-2014
10:49 AM
Company Ranks for Sixth Consecutive Year on G.I. Jobs List This release contains: 1 Related Document Southwest Airlines® (NYSE: LUV) announced today that it has been recognized as one of the Top 100 Military Friendly Employers® by Victory Media, publisher of G.I. Jobs and Military Spouse. The airline placed 33rd on the list, up from its previous rankings. This marks the sixth consecutive year for Southwest to receive this honor. Criteria for recognition includes the strength of company military recruiting efforts, the percentage of new hires with prior military service, retention programs, and company policies on National Guard and Reserve service.
"We are honored to be recognized as a Top Military Friendly Employer," said Julie Weber, Vice President People at Southwest Airlines. "A Warrior Spirit is one of the three core values in our Culture of ‘Living the Southwest Way;' we look for that attribute in prospective candidates, and often find it in candidates with prior military service. Employees with a service background exemplify Working Hard, Being Courageous, and Perseverance."
Southwest is committed to providing opportunities for veterans and actively seeks military talent through various recruitment efforts such as career fairs and military job boards. The Company considers its more than 6,000 military Employees to be a competitive advantage and a vital part of the Southwest Family.
This award acknowledges Southwest's continual efforts to recognize our nation's military members, including the Company's celebration of "Military Heroes Month" in November. Throughout the month, the Company partners with various nonprofit organizations to host several events and programs to show its support for our nation's heroes.
Military Friendly Employers is in its 12th year of providing employment information for transitioning military service members and spouses. The companies taking the survey each year are held to a higher standard than the previous year via improved methodology, criteria, and weightings developed with the assistance of an Advisory Board. Leaders in the military recruitment community make up this board. A full list of board members can be found at www.MilitaryFriendly.com/board.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other carriers with exemplary Customer Service delivered by more than 45,000 Employees to more than 100 million Customers annually. Based on the most recent data available from the U.S. Department of Transportation, Southwest is the nation's largest carrier in terms of originating domestic passengers boarded. The airline also operates the largest fleet of Boeing aircraft in the world to serve 93 destinations in 40 states, the District of Columbia, the Commonwealth of Puerto Rico, and five near-international countries. Some flights are operated by wholly owned subsidiary AirTran Airways. Southwest is one of the most honored airlines in the world, known for its triple bottom line approach that takes into account the carrier's performance and productivity, the importance of its People and the communities it serves, and its commitment to efficiency and the planet. With more than 6,000 Employees either currently serving in the National Guard or Military Reserves or who are veterans, Southwest Airlines is proud to support our men or women in uniform all year long. The airline has been recognized numerous times by the Employer Support of the Guard and Reserve (ESGR) for its commitment and support of the airline's Employees who serve in the National Guard and Reserve and received recognition for naming November "Military Heroes Month" and celebrating its partnerships with nonprofits focused on active duty military, veterans, and families of military members, such as Honor Flights and Armed Forces Foundation. 2014 marks the 6th consecutive year G.I. Jobs Magazine named SWA one of the Top 100 Military Friendly Employers. To read more about how Southwest is doing its part to be a good citizen, visit southwest.com/citizenship to read the 2013 Southwest Airlines One Report™.
Media Contact:
Southwest Airlines Media Relations 214-792-4847 swamedia@wnco.com
Multi-Media Assets and other Company news at swamedia.com
# # #
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11-11-2014
10:40 AM
11-11-2014
10:40 AM
Company Ranks for Sixth Consecutive Year on G.I. Jobs List
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Southwest Airlines® (NYSE: LUV) announced today that it has been recognized as one of the Top 100 Military Friendly Employers® by Victory Media, publisher of G.I. Jobs and Military Spouse. The airline placed 33rd on the list, up from its previous rankings. This marks the sixth consecutive year for Southwest to receive this honor. Criteria for recognition includes the strength of company military recruiting efforts, the percentage of new hires with prior military service, retention programs, and company policies on National Guard and Reserve service.
"We are honored to be recognized as a Top Military Friendly Employer," said Julie Weber, Vice President People at Southwest Airlines. "A Warrior Spirit is one of the three core values in our Culture of 'Living the Southwest Way;' we look for that attribute in prospective candidates, and often find it in candidates with prior military service. Employees with a service background exemplify Working Hard, Being Courageous, and Perseverance."
Southwest is committed to providing opportunities for veterans and actively seeks military talent through various recruitment efforts such as career fairs and military job boards. The Company considers its more than 6,000 military Employees to be a competitive advantage and a vital part of the Southwest Family.
This award acknowledges Southwest's continual efforts to recognize our nation's military members, including the Company's celebration of "Military Heroes Month" in November. Throughout the month, the Company partners with various nonprofit organizations to host several events and programs to show its support for our nation's heroes.
Military Friendly Employers is in its 12 th year of providing employment information for transitioning military service members and spouses. The companies taking the survey each year are held to a higher standard than the previous year via improved methodology, criteria, and weightings developed with the assistance of an Advisory Board. Leaders in the military recruitment community make up this board. A full list of board members can be found at www.MilitaryFriendly.com/board.
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other carriers with exemplary Customer Service delivered by more than 45,000 Employees to more than 100 million Customers annually. Based on the most recent data available from the U.S. Department of Transportation, Southwest is the nation's largest carrier in terms of originating domestic passengers boarded. The airline also operates the largest fleet of Boeing aircraft in the world to serve 93 destinations in 40 states, the District of Columbia, the Commonwealth of Puerto Rico, and five near-international countries. Some flights are operated by wholly owned subsidiary AirTran Airways. Southwest is one of the most honored airlines in the world, known for its triple bottom line approach that takes into account the carrier's performance and productivity, the importance of its People and the communities it serves, and its commitment to efficiency and the planet. With more than 6,000 Employees either currently serving in the National Guard or Military Reserves or who are veterans, Southwest Airlines is proud to support our men or women in uniform all year long. The airline has been recognized numerous times by the Employer Support of the Guard and Reserve (ESGR) for its commitment and support of the airline's Employees who serve in the National Guard and Reserve and received recognition for naming November "Military Heroes Month" and celebrating its partnerships with nonprofits focused on active duty military, veterans, and families of military members, such as Honor Flights and Armed Forces Foundation. 2014 marks the 6 th consecutive year G.I. Jobs Magazine named SWA one of the Top 100 Military Friendly Employers. To read more about how Southwest is doing its part to be a good citizen, visit southwest.com/citizenship to read the 2013 Southwest Airlines One Report™.
SOURCE Southwest Airlines
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11-10-2014
03:00 PM
11-10-2014
03:00 PM
Service to Puerto Vallarta, Mexico, from Orange County/Santa Ana, California, Beginning June 7, 2015, pending government approvals This release contains: 1 Related Document Southwest Airlines® (NYSE: LUV) today filed its application with the U.S. Department of Transportation to provide daily, nonstop service between John Wayne Airport, Orange County (SNA) and Lic. Gustavo Diaz Ordaz International Airport (PVR) in Puerto Vallarta, Mexico, beginning June 7, 2015, subject to approvals from relevant governmental agencies.
"Extending our route map to the beautiful region surrounding Puerto Vallarta on Mexico's Pacific Coast is an exciting opportunity for Southwest and our Customers across the United States," said Gary Kelly, Southwest Airlines Chairman, President, and CEO, at a meeting of investors and analysts at the carrier's Headquarters in Dallas. "Puerto Vallarta will be our ninth international destination, allowing Southwest to continue our purpose of connecting People to what is important in their lives while also connecting them to an amazing new destination."
In addition, Kelly announced the Company's plans to add Saturday service between Baltimore/Washington International Airport and San Jose del Cabo/Los Cabos, Mexico, beginning June 13, 2015, subject to approvals from relevant governmental agencies.
The carrier also today extended its bookable flight schedule through June 5, 2015, offering Customers many new options such as new seasonal daily service between San Antonio and Cancun, and between San Diego and St. Louis. New flights operating only on Saturdays will connect Houston and Ft. Myers, Milwaukee and San Diego, and Orlando and Omaha. All flight options through June 5, 2015, are now available at Southwest.com.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives. From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com, or by phone at 800-I-FLY-SWA.
Media Contact:
214-792-4847, option 1 or swamedia@wnco.com Visit the Southwest Newsroom for Multi-Media Assets and other Company news at swamedia.com
# # #
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11-10-2014
09:45 AM
11-10-2014
09:45 AM
Southwest Airlines Co. (NYSE: LUV) announced today that the Company flew 9.0 billion revenue passenger miles (RPMs) in October 2014, a 4.4 percent increase from the 8.6 billion RPMs flown in October 2013. Available seat miles (ASMs) remained relatively flat compared to the October 2013 level of 10.8 billion. The October 2014 load factor was 83.1 percent, compared to 79.9 percent in October 2013. For October 2014, passenger revenue per ASM (PRASM) is estimated to have increased in the three to four percent range, compared to October 2013.
For the first ten months of 2014, the Company flew 90.3 billion RPMs, compared to 87.3 billion RPMs flown for the same period in 2013, an increase of 3.4 percent. Year-to-date ASMs remained relatively flat compared to the 109.2 billion for the same period in 2013. The year-to-date load factor was 82.7 percent, compared to 79.9 percent for the same period in 2013.
This release, as well as past news releases about Southwest Airlines Co., is available online at southwest.com.
OCTOBER
2014
2013
Change
Revenue passengers carried
9,288,089
9,024,564
2.9%
Enplaned passengers
11,500,692
11,171,314
2.9%
Revenue passenger miles (000s)
8,989,543
8,610,484
4.4%
Available seat miles (000s)
10,820,718
10,782,383
0.4%
Load factor
83.1%
79.9%
3.2 pts.
Average length of haul
968
954
1.5%
Trips flown
104,279
108,462
(3.9)%
YEAR-TO-DATE
2014
2013
Change
Revenue passengers carried
91,890,894
90,204,731
1.9%
Enplaned passengers
113,202,661
111,207,522
1.8%
Revenue passenger miles (000s)
90,257,021
87,306,337
3.4%
Available seat miles (000s)
109,177,336
109,240,137
(0.1)%
Load factor
82.7%
79.9%
2.8 pts.
Average length of haul
982
968
1.4%
Trips flown
1,050,510
1,103,559
(4.8)%
SOURCE Southwest Airlines Co.
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11-07-2014
09:00 AM
11-07-2014
09:00 AM
Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast of its 2014 Investor Day. Southwest will be webcasting the audio presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the audio webcast are as follows:
Date:
Monday, November 10, 2014
Time:
12:30 p.m. Central Time
Speakers:
Gary Kelly, Chairman of the Board, President and Chief Executive Officer
Tammy Romo, Senior Vice President Finance and Chief Financial Officer
Web Address:
http://southwest.investorroom.com/
To access the live audio webcast, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
Minimum Requirements to listen to broadcast: Windows Media Player software, downloadable free from http://www.microsoft.com, and at least a 56K bps connection to the Internet. If you experience problems listening to the webcast, click on Help in the webcast browser.
SOURCE Southwest Airlines Co.
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11-05-2014
08:45 AM
11-05-2014
08:45 AM
Southwest Airlines Co. (NYSE: LUV) has been invited to speak at the Raymond James Global Airline/Transportation Conference. Raymond James will be webcasting the audio presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the audio webcast are as follows:
Date:
November 6, 2014
Time:
11:05 EST
Speaker:
Tammy Romo, Senior Vice President Finance and Chief Financial Officer
Web Address:
http://southwest.investorroom.com/
Contact:
Investor Relations (214) 792-4415
To access the live audio webcast, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
Minimum Requirements to listen to broadcast: Windows Media Player software, downloadable free from http://www.microsoft.com, and at least a 56K bps connection to the Internet. If you experience problems listening to the webcast, click on Help in the webcast browser.
SOURCE Southwest Airlines Co.
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11-04-2014
06:56 PM
11-04-2014
06:56 PM
New site open in Southwest Airlines' terminal 1, baggage claim level This release contains: 1 Related Document The Transportation Security Administration, Los Angeles International Airport (LAX) and Southwest Airlines today announced the opening of a third application site for TSA Pre✓®, an expedited screening program that allows travelers to leave on their shoes, light outerwear and belt, keep their laptop in its case and keep 3-1-1 compliant liquids/gels in a carry-on bag.
The TSA Pre✓® application process allows U.S. citizens and lawful permanent residents to pre-enroll online at tsa.gov and visit an application center — three are located at LAX — to provide biographic information (e.g. name, date of birth, address, etc.), fingerprints, valid required identity and citizenship/immigration documentation and an application fee of $85 for a five-year membership. Once approved, travelers will receive a Known Traveler Number and will have the opportunity to utilize TSA Pre✓® lanes at security checkpoints nationwide.
"The application process increases the availability of TSA Pre✓® benefits to a broader population of travelers nationwide," said TSA Administrator John S. Pistole. "TSA Pre✓® is enabling us to move away from a one-size-fits-all approach to transportation security, as we look for more opportunities to provide the most effective security in the most efficient way."
"As we approach the busy holiday travel season this is one more way Southwest Airlines is committing to our customers," said Southwest Airlines Executive Vice President & Chief People & Administrative Officer Jeff Lamb. "As evidenced by our $508-million modernization project, LAX is important to Southwest Airlines. Housing a TSA Pre✓® center in our terminal is just another great convenience we're proud to offer our Los Angeles-area customers."
TSA has opened more than 300 application centers across the country, including 26 airport locations served by Southwest Airlines:
Boston Logan International Airport (BOS)
Charlotte Douglas International Airport (CLT)
Cincinnati/Northern Kentucky International Airport (CVG)
Cleveland Hopkins International Airport (CLE)
Denver International Airport (DEN)
Detroit Metropolitan Wayne County Airport (DTW)
Hartsfield–Jackson Atlanta International Airport (ATL)
Indianapolis International Airport (IND)
John Wayne Airport (SNA)
LaGuardia Airport (LGA)
Lambert–St. Louis International Airport (STL)
Los Angeles International Airport (LAX)
McCarran International Airport (LAS)
Memphis International Airport (MEM)
Minneapolis–Saint Paul International Airport (MSP)
Nashville International Airport (BNA)
Orlando International Airport (MCO)
Palm Beach International Airport (PBI)
Phoenix Sky Harbor International Airport (PHX)
Pittsburgh International Airport (PIT)
Ronald Reagan Washington National Airport (DCA)
Salt Lake City International Airport (SLC)
San Francisco International Airport (SFO)
Spokane International Airport (GEG)
Tampa International Airport (TPA)
Washington Dulles International Airport (IAD)
Walk-in appointments will be honored on a first-come, first-served basis. In order to secure an appointment, passengers are encouraged to pre-enroll at tsa.gov.
As always, TSA continues to incorporate random and unpredictable security measures throughout the airport and no individual will be guaranteed expedited screening.
# # #
The Transportation Security Administration was created to strengthen the security of the nation's transportation systems and ensure the freedom of movement for people and commerce. TSA uses a risk-based strategy and works closely with transportation, law enforcement and intelligence communities to set the standard for excellence in transportation security. For more information about TSA, please visit our website at tsa.gov.
Contact Public Affairs 571-227-2829 tsamedia@tsa.dhs.gov
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11-04-2014
05:35 PM
11-04-2014
05:35 PM
Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast of its 2014 Investor Day. Southwest will be webcasting the audio presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the audio webcast are as follows:
Date:
Monday, November 10, 2014
Time:
12:30 p.m. Central Time
Speakers:
Gary Kelly, Chairman of the Board, President and Chief Executive Officer
Tammy Romo, Senior Vice President Finance and Chief Financial Officer
Web Address:
http://southwest.investorroom.com/
To access the live audio webcast, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
Minimum Requirements to listen to broadcast: Windows Media Player software, downloadable free from http://www.microsoft.com, and at least a 56K bps connection to the Internet. If you experience problems listening to the webcast, click on Help in the webcast browser.
SOURCE Southwest Airlines Co.
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11-04-2014
11:00 AM
11-04-2014
11:00 AM
For the fifth straight year, Southwest Airlines (NYSE: LUV) is devoting November to honoring our service men and women by designating it as "Military Heroes Month." Southwest will host an array of programs with nonprofit organizations during the month, while also sharing weekly military-themed stories on their Company blog, NUTS About Southwest.
The Airline has a huge Heart for our military, and is committed to employing, supporting, and honoring those who have sacrificed to ensure our nation's freedom. As a Top 100 Military Friendly Employer and devoted supporter of national military nonprofit organizations, such as Armed Forces Foundation, The Mission Continues, Honor Flight and Iraq and Afghanistan Veterans of America, Southwest Airlines continues to support the military not just in November, but year-round. "The freedoms we enjoy don't come without the sacrifices of Veterans, our military service men and women, and their families," said Chuck Magill, Southwest Airlines Vice President Operational Coordination, and former member of the United States Marine Corps. "We're deeply committed to honoring our colleagues, Customers, family members, friends, and neighbors, with this extra appreciation during Military Heroes Month."
Southwest gives thanks to our service men and women during Military Heroes Month:
Nov. 8 - 11 | A Million Thanks, We Love Our Troops Customer Card Campaign, Nationwide
To commemorate Veteran's Day, Southwest is distributing We Love Our Troops cards to Flight Attendants to share with Customers, encouraging them to share their messages of thanks and support as they travel. The nonprofit organization, "A Million Thanks," will distribute the cards to deployed U.S. Military Troops stationed around the world.
Nov. 9 - 12 | Operation Freedom Bird, Welcome Home Celebration, Washington, D.C.
Now in its 26 th year of service, Operation Freedom Bird (OFB) provides a unique healing journey to Arizona's combat veterans of all wars. Each year, approximately 50 veterans are selected to participate in the four-day healing journey that includes visiting the War Memorials in Washington, D.C. and experiencing Veteran's Day celebrations. For the past 15 years, Southwest Airlines has supported OFB by providing all program transportation and hosting a surprise celebration of the veterans' return home.
Nov. 11 - 13 | Iraq and Afghanistan Veterans of America Veterans Day Events, New York, NY
As a proud supporter of Iraq and Afghanistan Veterans of America, Southwest Airlines is honored to join them in uniting and recognizing our veterans during this important time of year.
November | The Mission Continues Fellowship Program, Nationwide
Southwest Airlines has been a proud supporter of The Mission Continues and their Fellowship program since 2010 and has donated $640,000 in travel to assist post-9/11 veterans who have accepted the challenge of continuing to serve at home.
November | Honor Flight Network, Nationwide
Since 2008, Southwest has had the privilege of being the official commercial airline of the Honor Flight Network (HFN). To date, Southwest has donated over $2.5 million in travel to send 6,800 World War II veterans to visit their memorial in Washington, D.C.
Dec. 3 - 6 | Salute Our Troops, Las Vegas, Nevada
For the third year, Southwest Airlines, The Palazzo Las Vegas, and the Armed Forces Foundation will partner to provide a once-in-a-lifetime weekend getaway in Las Vegas for 72 wounded warriors from military hospitals in Washington D.C. and San Antonio.
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other carriers with exemplary Customer Service delivered by more than 45,000 Employees to more than 100 million Customers annually. Based on the most recent data available from the U.S. Department of Transportation, Southwest is the nation's largest carrier in terms of originating domestic passengers boarded. The airline also operates the largest fleet of Boeing aircraft in the world to serve 93 destinations in 40 states, the District of Columbia, the Commonwealth of Puerto Rico, and five near-international countries. Some flights are operated by wholly owned subsidiary AirTran Airways. Southwest is one of the most honored airlines in the world, known for its triple bottom line approach that takes into account the carrier's performance and productivity, the importance of its People and the communities it serves, and its commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at southwest.com/citizenship.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With Southwest Airlines, Bags Fly Free ® (first and second checked pieces of luggage, size and weight limits apply), and there are no change fees (fare difference may apply) when you need to change your flight. Southwest's fleet offers leather seating and the comfort of full-size cabins, a majority of which are equipped with satellite-based WiFi connectivity over the United States, which enables live and video-on-demand TV currently FREE compliments of DISH, and a new, sustainable cabin interior. Southwest acquired AirTran Airways in May 2011 and by the end of 2014 intends to complete the full integration of the AirTran network into Southwest. With 41 consecutive years of profitability, the People of Southwest and AirTran operate more than 3,600 flights a day. Southwest Airlines' frequent flights and low fares are available online at southwest.com or by phone at 800-I-FLY-SWA.
SOURCE Southwest Airlines
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11-03-2014
11:00 AM
11-03-2014
11:00 AM
Carrier Brings A Curated Music Experience Onboard WiFi-enabled Aircraft Beginning Nov. 3 This release contains: 1 Related Document, 5 Photos, 1 Video Southwest Airlines® (NYSE: LUV) is giving Customers a new reason to pack their headphones! Beginning today, Beats Music is providing a uniquely curated music experience onboard Southwest Airlines WiFi-enabled aircraft.
Customers accessing Beats Music onboard have an opportunity to listen to wide-ranging music programming in pop, rock, country, and other genres to hear fresh new artists and the hottest songs, which are handpicked by Beats Music expert curators. Accessing the service inflight is on the house and includes a library of hundreds of playlists. Not sure what to listen to, but feel like Jet-Setting with your BFF to Pop? The Sentence offers a continuous playlist just for you, customized by your response to four questions about location, activity, surroundings, and musical preference.
"Southwest connects our Customers to what is important in their lives, and in this case, it's music," said Kevin Krone, Southwest Airlines Chief Marketing Officer. "We continue to enhance our onboard offerings to remain current as our Customers' needs evolve, and with the addition of Beats Music on our entertainment portal, we're doing just that."
The new entertainment service was introduced today at a live demonstration onboard the official Beats Music-decaled Boeing 737 aircraft. To celebrate, a special playlist was created that will come to life with live concerts from a couple of the artists on select Southwest flights at 35,000 feet! The official Beats Music aircraft is planned to depart from Dallas Love Field to Chicago-Midway on flight 732 with Cobra Starship onboard. Customers on this flight will get a Southwest Airlines VIP backstage pass to the most elevated live concert they've ever experienced, with an opportunity to meet and receive autographs from the band. Southwest Airlines also is celebrating with Customers on Flight 1527 with Elephant Revival, flying from Portland to Denver.
Beats Music is a music subscription service that combines expert curation with the best technology, so you get music that's right for you every time. Customers can stream a selection of Beats Music playlists through the Southwest entertainment portal, which is powered by Global Eagle Entertainment Inc. (Nasdaq: ENT), using their personal electronic devices onboard Southwest Airlines WiFi-enabled aircraft. Global Eagle Entertainment is a worldwide provider of media content, technology, and connectivity solutions to the travel industry. Through the industry's most comprehensive product and services platform, Global Eagle Entertainment provides airlines with a wide range of inflight solutions including WiFi, movies, television, music, interactive software, as well as portable IFE solutions, content management services, e-commerce solutions, and original content development.
The service provided on the Southwest entertainment portal will be compatible with major mobile devices and operating systems, including iOS and Android, as well as most web browsers, and is designed to ensure a seamless and superior quality playback.
Visit the Southwest Airlines newsroom for images and b-roll from today's live demonstration onboard the Beats Music-decaled Boeing 737-700 aircraft.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at southwest.com/citizenship.
Book Southwest Airlines' low fares online at southwest.com or by phone at 800-I-FLY-SWA.
Media Contact: Southwest Airlines Media Relations 214-792-4847, option 1 or swamedia@wnco.com Multi-Media Assets and other Company news at swamedia.com
# # #
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11-02-2014
02:00 PM
11-02-2014
02:00 PM
This release contains: 1 Related Document, 1 Photo
First Southwest Flights Begin to Mexico City and Punta Cana, Dominican Republic
New Nonstop Service Launches between Dallas Love Field and Eight additional U.S. Cities
Flights, Fares, and Frequent Flyer Benefits Available at Southwest.com
Southwest Airlines® (NYSE: LUV) today reached a milestone in the final stage of its integration of wholly owned subsidiary AirTran Airways by launching Southwest-branded flights to Punta Cana, Dominican Republic, and Mexico City. All international flights between seven destinations outside the United States and the carrier’s nine U.S. gateway cities are now flown by Southwest.
Also beginning today, the Company has completed the integration of booking and frequent flyer functions into Southwest.com, referring all Customers who visit airtran.com to Southwest.com. All bookings for remaining flights on AirTran Airways flown through Dec. 28, 2014, will now be made through Southwest.com southwest.com and all of AirTran’s A+ Rewards Members have Rapid Rewards accounts in the Southwest Airlines Rapid Rewards® frequent flyer program, which offers unlimited reward seats, no blackout dates, and points that don’t expire. (Flight or Partner earning activity required every 24 months. Benefits apply to points transactions. All Rapid Rewards rules and regulations apply.)
“Even as we approach the end of our integration process, we’re growing and expanding our offerings to Customers,” said Bob Jordan, Southwest Airlines Executive Vice President, Chief Commercial Officer, and President of AirTran Airways. “We’ve taken the final step of integrating our international service and industry-leading loyalty benefits into a cohesive, streamlined, and freshly re-designed Southwest.com.”
The expansion of service at Dallas Love Field continues today with an additional eight nonstop destinations, following the launch of nonstop itineraries to seven cities that began last month. New flights began today between Dallas (Love Field) and Atlanta, Ft. Lauderdale/Hollywood, Nashville, New York (LaGuardia), Phoenix, Orange County/Santa Ana, San Diego, and Tampa Bay.
Additional nonstop service between the San Francisco Bay Area and North Texas begins after the first of next year when new flights between Dallas Love Field and both San Francisco (SFO) and Oakland (OAK) begin on Jan. 6, 2015.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation’s most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what’s important in their lives. From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.
Media Contact:
214-792-4847, option 1 or swamedia@wnco.com Visit the Southwest Newsroom for Multi-Media Assets and other Company news at swamedia.com
# # #
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10-30-2014
07:12 PM
10-30-2014
07:12 PM
Southwest Airlines Co. (NYSE: LUV) has been invited to speak at the Raymond James Global Airline/Transportation Conference. Raymond James will be webcasting the audio presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the audio webcast are as follows:
Date:
November 6, 2014
Time:
11:05 EST
Speaker:
Tammy Romo, Senior Vice President Finance and Chief Financial Officer
Web Address:
http://southwest.investorroom.com/
Contact:
Investor Relations (214) 792-4415
To access the live audio webcast, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
Minimum Requirements to listen to broadcast: Windows Media Player software, downloadable free from http://www.microsoft.com, and at least a 56K bps connection to the Internet. If you experience problems listening to the webcast, click on Help in the webcast browser.
SOURCE Southwest Airlines Co.
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10-30-2014
11:00 AM
10-30-2014
11:00 AM
Hundreds of soccer balls and shoes are distributed as part of global initiative to upcycle approximately 43 acres of former airline seat coverings This release contains: 1 Related Document
DALLAS, Oct. 30, 2014 /PRNewswire/ -- Southwest Airlines (NYSE: LUV) today announced the distribution of products made in Kenya and the U.S. as part of its global upcycling initiative LUV Seat: Repurpose with Purpose. The distribution in Kenya completes the second phase of the multi-year environmental program, which will upcycle approximately 80,000 former airline seat coverings into new leather products to provide valuable training and jobs in several communities in addition to keeping these materials out of a landfill.
"LUV Seat is a program that stays true to the heart of Southwest Airlines," said Bill Tiffany, Southwest Airlines' Vice President of Supply Chain Management. "The tremendous results we are already seeing and the strong commitment of these Phase I organizations excite me for the subsequent efforts to come. LUV Seat has fostered the culture of sustainability at Southwest as we look for new ways to upcycle and grow our commitment to global citizenship."
In Nairobi, nonprofit organizations SOS Children's Villages Kenya, Alive & Kicking, Maasai Treads, and Life Beads Kenya have provided vocational and skills training for young adults and community members by making shoes, soccer balls, backpacks, wallets, and makeup bags from the used leather. This week, Southwest Airlines donated a majority of the products to youth across a number of villages and organizations across Kenya.
Young adults, ranging in age from 17 to 22, from SOS Children's Villages Kenya apprenticed in leather works and produced 2,100 pairs of shoes with the local sustainable shoe company Maasai Treads. The shoes are being donated to SOS villages and Ahadi Trust as part of an anti-jigger campaign, and to Cura Orphanage, a residence for children who have lost their parents to AIDS. In addition to making shoes, the young adults learned how to hand-stitch 1,000 soccer balls with Alive & Kicking, which uses sports education campaigns to raise awareness about HIV/AIDS and Malaria prevention. Kenya-based GoodMakers Films and the Gina Din Foundation are at the helm of managing the project in Kenya and were instrumental in bringing the diverse organizations together. Additionally, Creative Visions Foundation was invaluable in getting the LUV Seat program off the ground.
"This is an exciting moment in our relationship with Southwest Airlines. We are amazed with the quality of products made by many of our youth and are excited to help distribute these products to children and families in need," said Lynn Croneberger, CEO of SOS Children's Villages - USA. "It's great to know this innovative program will continue to benefit the partner organizations and recipients for years to come."
In the U.S., Southwest Airlines joined with LooptWorks, a domestic upcycling company, to create high-quality duffle and tote bags, called LUV Seat bags. Through the LUV Seat bags project, LooptWorks provided skills training and jobs for disabled adults. The bags are currently being gifted by Southwest to celebrate the end of the Wright Amendment and will be available for sale to the public starting this month.
Southwest Airlines has received praise from Customers and Employees for the unique LUV Seat program, which goes beyond sustainable corporate philanthropy to community development. Using the hashtag #LUVSeat, hundreds of ideas for new partnerships have been shared online. Southwest is looking to incorporate social media feedback to source ideas for additional social enterprise phases of the program, solidifying its commitment to its network and to promoting community.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
Book Southwest Airlines' low fares online at southwest.com or by phone at 800-I-FLY-SWA.
SOURCE Southwest Airlines
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10-23-2014
07:15 AM
10-23-2014
07:15 AM
Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its third quarter 2014 results:
Record third quarter net income, excluding special items 1 , of $382 million, or $.55 per diluted share, compared to third quarter 2013 net income, excluding special items, of $241 million, or $.34 per diluted share. This represented a 61.8 percent increase from third quarter 2013, and exceeded the First Call consensus estimate of $.53 per diluted share.
Record third quarter net income of $329 million, or $.48 per diluted share, which included $53 million (net) of unfavorable special items, compared to third quarter 2013 net income of $259 million, or $.37 per diluted share, which included $18 million (net) of favorable special items.
Record third quarter operating income of $614 million. Excluding special items, record third quarter operating income of $649 million.
Returned $241 million to Shareholders through dividends and share repurchases.
Return on invested capital 1 , before taxes and excluding special items (ROIC), for the twelve months ended September 30, 2014, of 19.0 percent, as compared to 10.6 percent for the twelve months ended September 30, 2013.
Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated, "We are very pleased to report another record quarterly profit performance, which resulted in a $100 million third quarter 2014 profitsharing expense for our Employees. Excluding special items, third quarter 2014 net income was $382 million, or $.55 per diluted share, and operating income was $649 million, resulting in a 13.5 percent operating margin 2 . The 386 basis point year-over-year improvement in operating margin, excluding special items, was driven by strong revenues, lower jet fuel prices, and a solid cost performance.
"Total operating revenues were $4.8 billion, which was a 5.6 percent increase from a year ago, despite a four percent decline in trips and two percent fewer seats flown 3 , as we work through the transition of AirTran aircraft. Our traffic and revenue trends were strong throughout the third quarter, generating a 4.5 percent year-over-year increase in unit revenues, despite a large percentage of our route system in development or conversion as we continued to transition AirTran flying to Southwest. Our third quarter 2014 revenue strength was driven by record load factors and a strong performance in our Rapid Rewards frequent flyer program. Thus far, revenue momentum has continued into October 2014, with favorable load factor and unit revenue trends. Current bookings for November and December are also good.
"Our third quarter 2014 cost performance benefited from lower jet fuel prices and our fleet modernization efforts. With these trends continuing, we are poised for another solid cost performance for fourth quarter 2014. Based on current cost trends, and excluding fuel and oil expense, profitsharing, and special items, we expect full year 2014 unit costs to increase approximately two percent compared to last year.
"Our third quarter 2014 financial performance was very gratifying, and I commend our outstanding Employees of Southwest Airlines for their unending dedication to providing reliable, low cost operations with our legendary, friendly Customer Service. As an industry leader of low fares and low costs, we are very pleased with the transformative and successful execution of our strategic initiatives that contributed significantly to our 19.0 percent ROIC for the twelve months ended September 30, 2014. Our Employees are the very best in the airline industry, and we were thrilled to unveil a bold, new visual expression of our brand in September. Our Heart aircraft livery, airport experience, and logo marries our past to our present and commemorates the transformation of Southwest in 2014. It is dedicated with much gratitude to our People.
"We are also thrilled with the July 1, 2014, launch of Southwest international service. During third quarter, we began service to Oranjestad, Aruba; Montego Bay, Jamaica; Nassau/Paradise Island in the Bahamas; and San Jose del Cabo/Los Cabos and Cancun, Mexico, all markets previously served by AirTran. Next month, we will initiate Southwest service to Punta Cana, Dominican Republic, and Mexico City, which will complete the conversion of international service from AirTran to Southwest. Also during third quarter, we announced that our first destination in Central America will be Juan Santamaria International Airport in San Jose, Costa Rica. The inauguration of this service is expected to be on March 7, 2015, subject to government approval.
"October 13, 2014, was a momentous day for Southwest Airlines. After 34 years, we are finally free from the Wright Amendment restrictions 4 , and have proudly launched our initial nonstop offerings from Dallas Love Field to seven popular destinations, with ten more nonstop destinations, previously announced, on the horizon.
"In addition to our strong third quarter 2014 earnings performance, our balance sheet, liquidity, and cash flows support our commitment to maintain our financial strength so that we can continue to take great care of our Employees, Customers and Shareholders. At the end of third quarter 2014, we had $3.6 billion in cash and short-term investments. For the nine months ended September 30, 2014, net cash provided by operations was $2.7 billion, and capital expenditures were $1.3 billion, resulting in strong free cash flow 1 of $1.4 billion. We have further strengthened our balance sheet and repaid $517 million in debt and capital lease obligations, thus far in 2014, including $167 million in debt and capital lease obligations repaid during the nine months ended September 30, 2014, and $350 million repaid on October 1 st . Thus far this year, we have returned $893 million to Shareholders through the payment of $138 million in dividends and the repurchase of $755 million in common stock."
Financial Results and Outlook
The Company's third quarter 2014 total operating revenues increased 5.6 percent, while operating unit revenues increased 4.5 percent, on a 1.1 percent increase in available seat miles, all as compared to third quarter 2013. Third quarter 2014 passenger revenues were $4.6 billion, which was an increase of 4.9 percent on a unit basis, as compared to third quarter 2013.
Total operating expenses in third quarter 2014 increased 0.7 percent to $4.2 billion, as compared to third quarter 2013. Third quarter 2014 profitsharing expense was $100 million, compared to $69 million in third quarter 2013. The Company incurred costs (before profitsharing and taxes) associated with the acquisition and integration of AirTran, which are special items, of $23 million during third quarter 2014, compared to $28 million in third quarter 2013. Cumulative costs associated with the acquisition and integration of AirTran, as of September 30, 2014, totaled $488 million (before profitsharing and taxes). The Company expects total acquisition and integration costs to be approximately $550 million (before profitsharing and taxes). Excluding special items in both periods, total operating expenses in third quarter 2014 increased 1.1 percent to $4.2 billion, as compared to third quarter 2013.
Third quarter 2014 economic fuel costs were $2.94 per gallon, including $.05 per gallon in favorable cash settlements from fuel derivative contracts, compared to $3.06 per gallon in third quarter 2013, including $.01 per gallon in favorable cash settlements from fuel derivative contracts. Based on the Company's fuel derivative contracts and market prices as of October 17, 2014, fourth quarter 2014 economic fuel costs are expected to be in the $2.70 to $2.75 per gallon range, compared to fourth quarter 2013's $3.05 per gallon. As of October 17, 2014, the fair market value of the Company's hedge portfolio through 2018 was a net liability of $236 million. Additional information regarding the Company's fuel derivative contracts is included in the accompanying tables.
Excluding fuel and oil expense, profitsharing, and special items in both periods, third quarter 2014 operating costs increased 2.6 percent from third quarter 2013, and increased 1.5 percent on a unit basis.
Operating income in third quarter 2014 was $614 million, compared to $390 million in third quarter 2013. Excluding special items, operating income was $649 million in third quarter 2014, compared to $439 million in the same period last year, a 47.8 percent increase year-over-year.
Other expenses in third quarter 2014 were $89 million, compared to other income of $29 million in third quarter 2013. The $118 million swing primarily resulted from $66 million in other losses recognized in third quarter 2014, compared to $59 million in other gains recognized in third quarter 2013. In both periods, these gains/losses included ineffectiveness and unrealized mark-to-market amounts associated with a portion of the Company's fuel hedging portfolio, which are special items. Excluding these special items, third quarter 2014 had $16 million in other losses, compared to $19 million in third quarter 2013, primarily attributable to the premium costs associated with the Company's fuel derivative contracts. Fourth quarter 2014 premium costs related to fuel derivative contracts are currently estimated to be $13 million, compared to $22 million in fourth quarter 2013. Net interest expense in third quarter 2014 was $23 million, compared to $30 million in third quarter 2013.
For the nine months ended September 30, 2014, total operating revenues increased 5.3 percent to $14.0 billion, and total operating expenses were $12.4 billion, resulting in operating income of $1.6 billion, compared to $893 million in operating income for the same period last year. Excluding special items, operating income was $1.7 billion for the nine months ended September 30, 2014, compared to $1.0 billion for the same period last year. Net income for the nine months ended September 30, 2014, was $946 million, or $1.36 per diluted share, compared to $542 million, or $.75 per diluted share, for the same period last year. Excluding special items, net income for the nine months ended September 30, 2014, was $993 million, or $1.42 per diluted share, compared to $569 million, or $.79 per diluted share, for the same period last year.
Balance Sheet and Cash Flows
As of September 30, 2014, the Company had $3.6 billion in cash and short-term investments, and a fully available unsecured revolving credit line of $1 billion. Net cash provided by operations during third quarter 2014 was $240 million, and capital expenditures were $433 million. The Company repaid $48 million in debt and capital lease obligations during third quarter 2014, and intends to repay an additional $395 million in debt and capital lease obligations during fourth quarter 2014, including $350 million repaid on October 1, 2014.
During third quarter 2014, the Company returned $241 million to its Shareholders through the payment of $41 million in dividends and the repurchase of $200 million in common stock, or 5.0 million shares, pursuant to an accelerated share repurchase (ASR) program executed during the quarter. This ASR program was completed in early October, and the Company then received an additional 1.1 million shares, bringing the total shares repurchased under the third quarter 2014 ASR program to 6.1 million. During third quarter, the Company also received the remaining 1.4 million shares pursuant to the second quarter 2014 $200 million ASR program, bringing the total shares repurchased under that ASR program to 7.4 million. Thus far in 2014, the Company has returned $893 million to its Shareholders through $138 million in dividends, and the repurchase of $755 million in common stock, or 29.2 million shares. The Company has $580 million remaining under its existing $1 billion share repurchase authorization.
Fleet
During third quarter 2014, the Company's fleet increased by two to 685 aircraft at period end. This reflects the third quarter 2014 delivery of 11 new Boeing 737-800s and two pre-owned Boeing 737-700s, as well as the retirement of one Boeing 737-500. In addition, the Company removed ten Boeing 717-200s from service during third quarter 2014 in preparation for transition out of the fleet. Additional information regarding the Company's aircraft delivery schedule is included in the accompanying tables.
Awards and Recognitions
Southwest's Rapid Rewards frequent flyer program was named one of the top airline rewards programs in U.S. News & World Report's 2014 rankings of the Best Airline Rewards Programs.
2014 Women's Choice Award® for America's Best in Travel. Southwest was selected by American women as the most recommended for: best overall customer service, best value, best frequent flyer/loyalty programs, best pet-friendly travel, and best in-flight service.
Gold Award for Strategy in CLO Magazine's Learning in Practice Awards.
Named to Glassdoor.com's list of top 25 companies for culture and values.
Highly Commended for Best in Customer Service using Social Media by SimpliFlying.
Southwest Cargo received Logistic Management Magazine's Quest for Quality Award.
Conference Call
Southwest will discuss its third quarter 2014 results on a conference call at 12:30 p.m. Eastern Time today. A live broadcast of the conference call also will be available at http://southwest.investorroom.com.
1 See Note Regarding Use of Non-GAAP Financial Measures. In addition, information regarding special items and ROIC is included in the accompanying reconciliation tables. 2 Operating margin, excluding special items, is calculated as operating income, excluding special items, divided by operating revenues. See Note Regarding Use of Non-GAAP Financial Measures. 3 Seats flown is calculated using total number of seats available by aircraft type multiplied by the total trips flown by the same aircraft type, for a given period. 4 Restrictions still apply to nonstop destinations beyond the 50 States or the District of Columbia.
Cautionary Statement Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Company's financial outlook and projected results of operations; (ii) the Company's expectations with respect to its integration of AirTran, including anticipated integration timeframes and expected costs associated with the integration; (iii) the Company's plans and expectations related to managing risk associated with changing jet fuel prices; (iv) the Company's expectations with respect to liquidity (including its plans for the repayment of debt and capital lease obligations); and (v) the Company's aircraft delivery schedule. These forward-looking statements are based on the Company's current intent, expectations, and projections and are not guarantees of future performance. These statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) demand for the Company's services and the impact of economic conditions, fuel prices, actions of competitors (including without limitation pricing, scheduling, and capacity decisions and consolidation and alliance activities), and other factors beyond the Company's control, on the Company's business decisions, plans, and strategies; (ii) the impact of governmental regulations and other actions related to the Company's operations; (iii) the Company's ability to effectively complete the integration of AirTran and realize the expected results from the acquisition; (iv) the Company's ability to timely and effectively prioritize its strategic initiatives and related expenditures; (v) changes in fuel prices, the impact of hedge accounting, and any changes to the Company's fuel hedging strategies and positions; (vi) the Company's dependence on third parties, in particular with respect to its fleet plans; and (vii) other factors, as described in the Company's filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013.
Southwest Airlines Co.
Condensed Consolidated Statement of Income
(in millions, except per share amounts)
(unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2014
2013
Percent change
2014
2013
Percent change
OPERATING REVENUES:
Passenger
$
4,564
$
4,306
6.0
$
13,249
$
12,524
5.8
Freight
45
41
9.8
128
123
4.1
Other
191
198
(3.5)
600
624
(3.8)
Total operating revenues
4,800
4,545
5.6
13,977
13,271
5.3
OPERATING EXPENSES:
Salaries, wages, and benefits
1,363
1,271
7.2
4,044
3,751
7.8
Fuel and oil
1,386
1,450
(4.4)
4,125
4,396
(6.2)
Maintenance materials and repairs
248
271
(8.5)
734
842
(12.8)
Aircraft rentals
71
92
(22.8)
227
277
(18.1)
Landing fees and other rentals
289
290
(0.3)
849
848
0.1
Depreciation and amortization
238
221
7.7
687
643
6.8
Acquisition and integration
23
28
(17.9)
78
66
18.2
Other operating expenses
568
532
6.8
1,628
1,555
4.7
Total operating expenses
4,186
4,155
0.7
12,372
12,378
—
OPERATING INCOME
614
390
57.4
1,605
893
79.7
OTHER EXPENSES (INCOME):
Interest expense
31
35
(11.4)
97
97
—
Capitalized interest
(6)
(4)
50.0
(18)
(17)
5.9
Interest income
(2)
(1)
100.0
(5)
(5)
—
Other (gains) losses, net
66
(59)
(211.9)
16
(58)
(127.6)
Total other expenses (income)
89
(29)
(406.9)
90
17
429.4
INCOME BEFORE INCOME TAXES
525
419
25.3
1,515
876
72.9
PROVISION FOR INCOME TAXES
196
160
22.5
569
334
70.4
NET INCOME
$
329
$
259
27.0
$
946
$
542
74.5
NET INCOME PER SHARE:
Basic
$
0.48
$
0.37
29.7
$
1.37
$
0.76
80.3
Diluted
$
0.48
$
0.37
29.7
$
1.36
$
0.75
81.3
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic
683
703
(2.8)
690
714
(3.4)
Diluted
691
711
(2.8)
699
722
(3.2)
Southwest Airlines Co.
Reconciliation of Reported Amounts to Non-GAAP Items
(See Note Regarding Use of Non-GAAP Financial Measures)
(in millions, except per share amounts)
(unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2014
2013
Percent Change
2014
2013
Percent Change
Fuel and oil expense, unhedged
$
1,395
$
1,435
$
4,171
$
4,282
Add (Deduct): Fuel hedge (gains) losses included in Fuel and oil expense
(9)
15
(46)
114
Fuel and oil expense, as reported
$
1,386
$
1,450
$
4,125
$
4,396
Deduct: Net impact from fuel contracts (1)
(12)
(21)
(27)
(71)
Fuel and oil expense, non-GAAP (economic)
$
1,374
$
1,429
(3.8)
$
4,098
$
4,325
(5.2)
Total operating expenses, as reported
$
4,186
$
4,155
$
12,372
$
12,378
Deduct: Net impact from fuel contracts (1)
(12)
(21)
(27)
(71)
Total operating expenses, economic
$
4,174
$
4,134
$
12,345
$
12,307
Deduct: Acquisition and integration costs
(23)
(28)
(78)
(66)
Total operating expenses, non-GAAP
$
4,151
$
4,106
1.1
$
12,267
$
12,241
0.2
Deduct: Profitsharing expense
(100)
(69)
(256)
(162)
Total operating expenses, non-GAAP, excluding Profitsharing
$
4,051
$
4,037
0.3
$
12,011
$
12,079
(0.6)
Deduct: Fuel and oil expense, non-GAAP (economic)
(1,374)
(1,429)
(4,098)
(4,325)
Total operating expenses, non-GAAP, excluding Profitsharing and fuel
$
2,677
$
2,608
2.6
$
7,913
$
7,754
2.1
Operating income, as reported
$
614
$
390
$
1,605
$
893
Add : Net impact from fuel contracts (1)
12
21
27
71
Operating income, economic
$
626
$
411
$
1,632
$
964
Add: Acquisition and integration costs
23
28
78
66
Operating income, non-GAAP
$
649
$
439
47.8
$
1,710
$
1,030
66.0
Other (gains) losses, net, as reported
$
66
$
(59)
$
16
$
(58)
Add (Deduct): Net impact from fuel contracts (1)
(50)
78
31
95
Other (gains) losses, net, non-GAAP
$
16
$
19
(15.8)
$
47
$
37
27.0
Income before income taxes, as reported
$
525
$
419
$
1,515
$
876
Add (Deduct): Net impact from fuel contracts (1)
62
(57)
(4)
(24)
$
587
$
362
$
1,511
$
852
Add: Acquisition and integration costs
23
28
78
66
Income before income taxes, non-GAAP
$
610
$
390
56.4
$
1,589
$
918
73.1
Net income, as reported
$
329
$
259
$
946
$
542
Add (Deduct): Net impact from fuel contracts (1)
62
(57)
(4)
(24)
Add (Deduct): Income tax impact of fuel contracts
(23)
22
2
10
$
368
$
224
$
944
$
528
Add: Acquisition and integration costs, net (2)
14
17
49
41
Net income, non-GAAP
$
382
$
241
58.5
$
993
$
569
74.5
Net income per share, diluted, as reported
$
0.48
$
0.37
$
1.36
$
0.75
Add (Deduct): Net impact from fuel contracts (2)
0.05
(0.05)
(0.01)
(0.02)
$
0.53
$
0.32
$
1.35
$
0.73
Add: Impact of special items, net (2)
0.02
0.02
0.07
0.06
Net income per share, diluted, non-GAAP
$
0.55
$
0.34
61.8
$
1.42
$
0.79
79.7
(1) See Reconciliation of Impact from Fuel Contracts.
(2) Amounts net of tax.
Southwest Airlines Co.
Reconciliation of Impact from Fuel Contracts
(See Note Regarding Use of Non-GAAP Financial Measures)
(in millions)
(unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2014
2013
2014
2013
Fuel and oil expense
Reclassification between Fuel and oil and Other (gains) losses, net,
associated with current period settled contracts
$
(5)
$
(17)
$
(5)
$
(10)
Contracts settling in the current period, but for which gains
have been recognized in a prior period (1)
(7)
(4)
(22)
(61)
Impact from fuel contracts to Fuel and oil expense
$
(12)
$
(21)
$
(27)
$
(71)
Operating Income
Reclassification between Fuel and oil and Other (gains) losses, net,
associated with current period settled contracts
$
5
$
17
$
5
$
10
Contracts settling in the current period, but for which gains
have been recognized in a prior period (1)
7
4
22
61
Impact from fuel contracts to Operating Income
$
12
$
21
$
27
$
71
Other (gains) losses, net
Mark-to-market impact from fuel contracts settling in future periods
$
(44)
$
76
$
(5)
$
112
Ineffectiveness from fuel hedges settling in future periods
(11)
(15)
31
(27)
Reclassification between Fuel and oil and Other (gains) losses, net, associated with current period settled contracts
5
17
5
10
Impact from fuel contracts to Other (gains) losses, net
$
(50)
$
78
$
31
$
95
Net Income
Mark-to-market impact from fuel contracts settling in future periods
$
44
$
(76)
$
5
$
(112)
Ineffectiveness from fuel hedges settling in future periods
11
15
(31)
27
Other net impact of fuel contracts settling in the current or a prior
period (excluding reclassifications)
7
4
22
61
Impact from fuel contracts to Net Income (2)
$
62
$
(57)
$
(4)
$
(24)
(1) As a result of prior hedge ineffectiveness and/or contracts marked-to-market through the income statement.
(2) Before income tax impact of unrealized items.
Southwest Airlines Co.
Comparative Consolidated Operating Statistics
(unaudited)
Three months ended
Nine months ended
September 30,
September 30,
2014
2013
Change
2014
2013
Change
Revenue passengers carried
28,391,882
27,015,866
5.1%
82,602,805
81,180,167
1.8%
Enplaned passengers
35,255,248
33,792,804
4.3%
101,701,969
100,036,208
1.7%
Revenue passenger miles (RPMs) (000s)(1)
28,522,164
27,009,604
5.6%
81,267,478
78,695,853
3.3%
Available seat miles (ASMs) (000s)(2)
33,785,824
33,425,087
1.1%
98,356,618
98,457,754
(0.1)%
Load factor(3)
84.4%
80.8%
3.6 pts.
82.6%
79.9%
2.7 pts.
Average length of passenger haul (miles)
1,005
1,000
0.5%
984
969
1.5%
Average aircraft stage length (miles)
728
708
2.8%
721
703
2.6%
Trips flown
319,250
332,991
(4.1)%
946,231
995,097
(4.9)%
Average passenger fare
$
160.74
$
159.39
0.8%
$
160.39
$
154.28
4.0%
Passenger revenue yield per RPM (cents)(4)
16.00
15.94
0.4%
16.30
15.91
2.5%
RASM (cents)(5)
14.21
13.60
4.5%
14.21
13.48
5.4%
PRASM (cents)(6)
13.51
12.88
4.9%
13.47
12.72
5.9%
CASM (cents)(7)
12.39
12.43
(0.3)%
12.58
12.57
0.1%
CASM, excluding fuel (cents)
8.29
8.09
2.5%
8.38
8.11
3.3%
CASM, excluding special items (cents)
12.29
12.29
—%
12.47
12.43
0.3%
CASM, excluding fuel and special
items (cents)
8.22
8.01
2.6%
8.30
8.04
3.2%
CASM, excluding fuel, special items, and profitsharing (cents)
7.92
7.80
1.5%
8.04
7.88
2.0%
Fuel costs per gallon, including fuel tax (unhedged)
$
2.99
$
3.07
(2.6)%
$
3.06
$
3.10
(1.3)%
Fuel costs per gallon, including fuel tax
$
2.97
$
3.10
(4.2)%
$
3.03
$
3.19
(5.0)%
Fuel costs per gallon, including fuel tax (economic)
$
2.94
$
3.06
(3.9)%
$
3.01
$
3.13
(3.8)%
Fuel consumed, in gallons (millions)
466
466
—%
1,357
1,376
(1.4)%
Active fulltime equivalent Employees
45,750
45,148
1.3%
45,750
45,148
1.3%
Aircraft at end of period(8)
685
688
(0.4)%
685
688
(0.4)%
(1) A revenue passenger mile is one paying passenger flown one mile. Also referred to as "traffic," which is a measure of demand for a given period.
(2) An available seat mile is one seat (empty or full) flown one mile. Also referred to as "capacity," which is a measure of the space available to carry passengers in a given period.
(3) Revenue passenger miles divided by available seat miles.
(4) Calculated as passenger revenue divided by revenue passenger miles. Also referred to as "yield," this is the average cost paid by a paying passenger to fly one mile, which is a measure of revenue production and fares.
(5) RASM (unit revenue) - Operating revenue yield per ASM, calculated as operating revenue divided by available seat miles. Also referred to as "operating unit revenues," this is a measure of operating revenue production based on the total available seat miles flown during a particular period.
(6) PRASM (Passenger unit revenue) - Passenger revenue yield per ASM, calculated as passenger revenue divided by available seat miles. Also referred to as "passenger unit revenues," this is a measure of passenger revenue production based on the total available seat miles flown during a particular period.
(7) CASM (unit costs) - Operating expenses per ASM, calculated as operating expenses divided by available seat miles. Also referred to as "unit costs" or "cost per available seat mile," this is the average cost to fly an aircraft seat (empty or full) one mile, which is a measure of cost efficiencies.
(8) Aircraft in the Company's fleet at period end, less Boeing 717-200s removed from service in preparation for transition out of the fleet.
Southwest Airlines Co.
Return on Invested Capital (ROIC)
(See Note Regarding Use of Non-GAAP Financial Measures)
(in millions)
(unaudited)
Twelve Months Ended
Twelve Months Ended
September 30, 2014
September 30, 2013
Operating income, as reported
$
1,991
$
984
Net impact from fuel contracts
40
100
Acquisition and integration costs
97
81
Operating income, non-GAAP
$
2,128
$
1,165
Net adjustment for aircraft leases (1)
136
134
Adjustment for fuel hedge accounting
(70)
(42)
Adjusted Operating income, non-GAAP
$
2,194
$
1,257
Average invested capital (2)
$
11,616
$
11,769
Equity adjustment for hedge accounting
(61)
81
Adjusted average invested capital
$
11,555
$
11,850
ROIC, pre-tax
19.0%
10.6%
(1) Net adjustment related to presumption that all aircraft in fleet are owned (i.e., the impact of eliminating aircraft rent expense and replacing with estimated depreciation expense for those same aircraft).
(2) Average invested capital represents a five quarter average of debt, net present value of aircraft leases, and equity.
Southwest Airlines Co.
Condensed Consolidated Balance Sheet
(in millions)
(unaudited)
September 30, 2014
December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents
$
1,832
$
1,355
Short-term investments
1,728
1,797
Accounts and other receivables
468
419
Inventories of parts and supplies, at cost
429
467
Deferred income taxes
237
168
Prepaid expenses and other current assets
208
250
Total current assets
4,902
4,456
Property and equipment, at cost:
Flight equipment
18,019
16,937
Ground property and equipment
2,866
2,666
Deposits on flight equipment purchase contracts
601
764
Assets constructed for others
570
453
22,056
20,820
Less allowance for depreciation and amortization
8,091
7,431
13,965
13,389
Goodwill
970
970
Other assets
702
530
$
20,539
$
19,345
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
1,185
$
1,247
Accrued liabilities
1,277
1,229
Air traffic liability
3,377
2,571
Current maturities of long-term debt
607
629
Total current liabilities
6,446
5,676
Long-term debt less current maturities
2,125
2,191
Deferred income taxes
3,360
2,934
Construction obligation
521
437
Other noncurrent liabilities
658
771
Stockholders' equity:
Common stock
808
808
Capital in excess of par value
1,280
1,231
Retained earnings
7,266
6,431
Accumulated other comprehensive loss
(92)
(3)
Treasury stock, at cost
(1,833)
(1,131)
Total stockholders' equity
7,429
7,336
$
20,539
$
19,345
Southwest Airlines Co.
Condensed Consolidated Statement of Cash Flows
(in millions)
(unaudited)
Three months ended September 30,
Nine months ended September 30,
2014
2013
2014
2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
$
329
$
259
$
946
$
542
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization
238
221
687
643
Unrealized (gain) loss on fuel derivative instruments
63
(58)
(4)
(24)
Deferred income taxes
392
29
472
52
Changes in certain assets and liabilities:
Accounts and other receivables
(22)
73
(83)
(74)
Other assets
6
(63)
(7)
(83)
Accounts payable and accrued liabilities
(534)
(98)
(86)
185
Air traffic liability
(108)
(95)
806
811
Cash collateral received from (paid to) derivative counterparties
(98)
80
8
56
Other, net
(26)
80
(41)
80
Net cash provided by operating activities
240
428
2,698
2,188
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures
(433)
(268)
(1,340)
(995)
Purchases of short-term investments
(415)
(896)
(2,344)
(2,520)
Proceeds from sales of short-term and other investments
805
805
2,427
2,385
Other, net
(1)
—
(2)
—
Net cash used in investing activities
(44)
(359)
(1,259)
(1,130)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Employee stock plans
23
12
96
31
Reimbursement for assets constructed for others
26
—
26
—
Payments of long-term debt and capital lease obligations
(48)
(51)
(167)
(267)
Payments of cash dividends
(41)
(28)
(138)
(71)
Repayment of construction obligation
(3)
(2)
(8)
(3)
Repurchase of common stock
(200)
(150)
(755)
(501)
Other, net
(3)
(6)
(16)
(27)
Net cash used in financing activities
(246)
(225)
(962)
(838)
NET CHANGE IN CASH AND CASH EQUIVALENTS
(50)
(156)
477
220
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD
1,882
1,489
1,355
1,113
CASH AND CASH EQUIVALENTS AT END OF PERIOD
$
1,832
$
1,333
$
1,832
$
1,333
Southwest Airlines Co.
Fuel Derivative Contracts
As of October 17, 2014
Estimated economic jet fuel price per gallon,
including taxes
Average Brent Crude Oil price per barrel
4Q 2014 (2)
$70
$2.30 - $2.35
$80
$2.50 - $2.55
Current Market (1)
$2.70 - $2.75
$100
$3.00 - $3.05
$110
$3.20 - $3.25
Period
Average percent of estimated fuel consumption covered by fuel derivative contracts at varying WTI/Brent Crude Oil, Heating Oil, and Gulf Coast Jet Fuel-equivalent price levels
Fourth quarter 2014
Approx. 20%
2015
Approx. 40%
2016
Approx. 40%
2017
Approx. 40%
2018
Approx. 5%
(1) Brent crude oil average market price as of October 17, 2014, was approximately $87 per barrel for fourth quarter 2014.
(2) The Company has approximately 20 percent of its fourth quarter 2014 estimated fuel consumption covered by fuel derivative contracts with approximately 10 percent at varying crude oil-equivalent prices and the remainder at varying Gulf Coast jet fuel and heat-equivalent prices. The economic fuel price per gallon sensitivities provided above assume the relationship between Brent crude oil and refined products based on market prices as of October 17, 2014.
Southwest Airlines Co.
737 Delivery Schedule
As of September 30, 2014
The Boeing Company
The Boeing Company
737 NG
737 MAX
-700 Firm Orders
-800 Firm Orders
Options
Additional
-700s
-7
Firm
Orders
-8
Firm
Orders
Options
Total
2014
—
33
—
22
—
—
—
55
(3)
2015
—
19
—
14
—
—
—
33
2016
31
—
10
4
—
—
—
45
2017
15
—
12
—
—
14
—
41
2018
10
—
12
—
—
13
—
35
2019
—
—
—
—
15
10
—
25
2020
—
—
—
—
14
22
—
36
2021
—
—
—
—
1
33
18
52
2022
—
—
—
—
—
30
19
49
2023
—
—
—
—
—
24
23
47
2024
—
—
—
—
—
24
23
47
2025
—
—
—
—
—
—
36
36
2026
—
—
—
—
—
—
36
36
2027
—
—
—
—
—
—
36
36
56
(1)
52
34
40
30
170
(2)
191
573
(1) The Company has flexibility to substitute 737-800s in lieu of 737-700 firm orders.
(2) The Company has flexibility to substitute MAX 7 in lieu of MAX 8 firm orders beginning in 2019.
(3) Includes 25 737-800s and 11 737-700s delivered as of September 30, 2014.
NOTE REGARDING USE OF NON-GAAP FINANCIAL MEASURES
The Company's unaudited consolidated financial statements are prepared in accordance with GAAP. These GAAP financial statements include (i) unrealized non-cash adjustments and reclassifications, which can be significant, as a result of accounting requirements and elections made under accounting pronouncements relating to derivative instruments and hedging and (ii) other charges the Company believes are not indicative of its ongoing operational performance.
As a result, the Company also provides financial information in this release that was not prepared in accordance with GAAP and should not be considered as an alternative to the information prepared in accordance with GAAP. The Company provides supplemental non-GAAP financial information, including results that it refers to as "economic," which the Company's management utilizes to evaluate its ongoing financial performance and the Company believes provides greater transparency to investors as supplemental information to its GAAP results. The Company's economic financial results differ from GAAP results in that they only include the actual cash settlements from fuel hedge contracts--all reflected within Fuel and oil expense in the period of settlement. Thus, Fuel and oil expense on an economic basis reflects the Company's actual net cash outlays for fuel during the applicable period, inclusive of settled fuel derivative contracts. Any net premium costs paid related to option contracts are reflected as a component of Other (gains) losses, net, for both GAAP and non-GAAP (including economic) purposes in the period of contract settlement. The Company believes these economic results provide a better measure of the impact of the Company's fuel hedges on its operating performance and liquidity since they exclude the unrealized, non-cash adjustments and reclassifications that are recorded in GAAP results in accordance with accounting guidance relating to derivative instruments, and they reflect all cash settlements related to fuel derivative contracts within Fuel and oil expense. This enables the Company's management, as well as investors, to consistently assess the Company's operating performance on a year-over-year or quarter-over-quarter basis after considering all efforts in place to manage fuel expense. However, because these measures are not determined in accordance with GAAP, such measures are susceptible to varying calculations and not all companies calculate the measures in the same manner. As a result, the aforementioned measures, as presented, may not be directly comparable to similarly titled measures presented by other companies.
Further information on (i) the Company's fuel hedging program, (ii) the requirements of accounting for derivative instruments, and (iii) the causes of hedge ineffectiveness and/or mark-to-market gains or losses from derivative instruments is included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013.
In addition to its "economic" financial measures, as defined above, the Company has also provided other non-GAAP financial measures, including results that it refers to as "excluding special items," as a result of items that the Company believes are not indicative of its ongoing operations. These include expenses associated with the Company's acquisition and integration of AirTran. The Company believes that evaluation of its financial performance can be enhanced by a presentation of results that exclude the impact of these items in order to evaluate the results on a comparative basis with results in prior periods that do not include such items and as a basis for evaluating operating results in future periods. As a result of the Company's acquisition of AirTran, which closed on May 2, 2011, the Company has incurred and expects to continue to incur charges associated with integration of the two companies. While the Company cannot predict the exact timing or amounts of such charges, it does expect to treat the charges as special items in its future presentation of non-GAAP results.
The Company has also provided free cash flow and ROIC, which are non-GAAP financial measures. The Company believes free cash flow is a meaningful measure because it demonstrates the Company's ability to service its debt, pay dividends and make investments to enhance Shareholder value. Although free cash flow is commonly used as a measure of liquidity, definitions of free cash flow may differ; therefore, the Company is providing an explanation of its calculation for free cash flow. For the nine months ended September 30, 2014, the Company generated $1.4 billion in free cash flow, calculated as operating cash flows of $2.7 billion less capital expenditures of $1.3 billion. The Company believes ROIC is a meaningful measure because it quantifies how well the Company generates operating income relative to the capital it has invested in its business. Although return on invested capital is commonly used as a measure of capital efficiency, definitions of return on invested capital may differ; therefore, the Company is providing an explanation of its calculation for ROIC in the accompanying reconciliation tables to the press release (See Return on Invested Capital).
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/southwest-airlines-reports-record-third-quarter-profit-279801006.html
SOURCE Southwest Airlines
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10-22-2014
02:25 PM
10-22-2014
02:25 PM
Southwest Airlines (NYSE: LUV) and the International Association of Machinists and Aerospace Workers (IAM), representing the carrier's approximately 6,000 Customer Service Agents and Customer Support and Services Representatives, announced today that the two parties have reached a tentative agreement. The tentative agreement is for a new four year contract and requires Membership ratification. The current contract became amendable in October 2012.
"I applaud the efforts of both parties in reaching a tentative agreement that incorporates rewards and incentives for our hard-working Customer Service Agents and Customer Representatives, while remaining mindful of Southwest's low cost structure and longterm success," said Mike Van de Ven, Southwest Airlines Executive Vice President and Chief Operating Officer. "Reaching mutually beneficial contracts for Southwest and our People remain a top priority for us, and I'm hopeful that this tentative agreement is the first of several to come in the near future."
In the upcoming weeks, the IAM membership will be given the full details of the agreement and have the opportunity to vote on ratification.
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other carriers with exemplary Customer Service delivered by more than 45,000 Employees to more than 100 million Customers annually. Based on the most recent data available from the U.S. Department of Transportation, Southwest is the nation's largest carrier in terms of originating domestic passengers boarded. The airline also operates the largest fleet of Boeing aircraft in the world to serve 93 destinations in 40 states, the District of Columbia, the Commonwealth of Puerto Rico, and five near-international countries. Some flights are operated by wholly owned subsidiary AirTran Airways. Southwest is one of the most honored airlines in the world, known for its triple bottom line approach that takes into account the carrier's performance and productivity, the importance of its People and the communities it serves, and its commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at southwest.com/citizenship.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With Southwest Airlines, Bags Fly Free ® (first and second checked pieces of luggage, size and weight limits apply), and there are no change fees (fare difference may apply) when you need to change your flight. Southwest's fleet offers leather seating and the comfort of full-size cabins, a majority of which are equipped with satellite-based WiFi connectivity over the United States, which enables live and video-on-demand TV currently FREE compliments of DISH, and a new, sustainable cabin interior. Southwest acquired AirTran Airways in May 2011 and by the end of 2014 intends to complete the full integration of the AirTran network into Southwest. With 41 consecutive years of profitability, the People of Southwest and AirTran operate more than 3,600 flights a day. Southwest Airlines' frequent flights and low fares are available online at southwest.com or by phone at 800-I-FLY-SWA.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/southwest-airlines-and-international-association-of-machinists-and-aerospace-workers-reach-tentative-agreement-382080192.html
SOURCE Southwest Airlines
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10-22-2014
08:30 AM
10-22-2014
08:30 AM
Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast of its third quarter 2014 financial results. Details are as follows:
When:
Thursday, October 23, 2014 at 12:30 PM Eastern Time
Who:
Gary Kelly, Chairman of the Board, President and Chief Executive Officer
Tammy Romo, Senior Vice President Finance and Chief Financial Officer
Web Address:
http://southwest.investorroom.com/
Contact:
Investor Relations, (214) 792-4415
To access the live audio webcast, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
SOURCE Southwest Airlines Co.
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10-16-2014
06:23 PM
10-16-2014
06:23 PM
Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast of its third quarter 2014 financial results. Details are as follows:
When:
Thursday, October 23, 2014 at 12:30 PM Eastern Time
Who:
Gary Kelly, Chairman of the Board, President and Chief Executive Officer
Tammy Romo, Senior Vice President Finance and Chief Financial Officer
Web Address:
http://southwest.investorroom.com/
Contact:
Investor Relations, (214) 792-4415
To access the live audio webcast, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. Upon completion of the live webcast, a replay will be available in the Investor Relations Events Calendar at http://southwest.investorroom.com/past-events.
SOURCE Southwest Airlines Co.
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10-15-2014
04:41 PM
10-15-2014
04:41 PM
Southwest Airlines (NYSE: LUV), in partnership with the Hispanic Association of Colleges and Universities (HACU), has awarded 90 students with complimentary roundtrip airfare as part of the Lanzate!/Take Off! travel award program.
The Lanzate! program is geared toward Hispanic college students with economic need who attend school far away from home. Hispanic college students, ranging from incoming freshmen through graduate students, submitted essays displaying their need for travel on Southwest Airlines. In the application essays, students wrote about their personal experiences and the importance of staying connected with their families while pursuing higher education away from family. A panel of judges made up of college professors and educational advocates met to determine the award recipients. Recipients were awarded between one and four roundtrip tickets for travel for themselves or a family member. Southwest gave 231 tickets this year to encourage students to continue on their path to higher education.
"We are proud to be in our tenth year of helping Hispanic youth throughout the country make their dreams of higher education come true," said Christine Ortega, Southwest's Manager of Community Affairs & Grassroots. "For many Hispanic students, the ability to stay connected to their family determines whether they graduate or drop out of school. These tickets allow either students to fly home or their families fly to campus to celebrate important milestones in their college journeys."
"For the past ten years, students have submitted compelling essays and sent heartwarming letters that demonstrate the importance of the Southwest Lanzate! Travel Awards Program to their higher education success," said Antonio R. Flores, HACU President and CEO. "The success of Hispanics in higher education depends on a community effort, and Southwest Airlines has proven time and again that they support our community wholeheartedly with the extremely successful Lanzate! travel award program. Congratulations to the students and to Southwest Airlines for this wonderful program."
To see the full list of winning students, please visit: www.hacu.net
Southwest is dedicated to serving the Hispanic community, and the Lanzate!/Take Off! travel award is one of the many ways the airline gives back. To learn more about Southwest Airlines' efforts in the Hispanic community, please visit www.southwest.com/hispanicoutreach
ABOUT SOUTHWEST AIRLINES CO. In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
Book Southwest Airlines' low fares online at southwest.com or by phone at 800-I-FLY-SWA.
ABOUT HACU The Hispanic Association of Colleges and Universities (HACU) represents more than 450 colleges and universities committed to Hispanic higher education success in the U.S., Puerto Rico, Latin America and Spain. For more information, visit www.hacu.net
SOURCE Southwest Airlines
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10-14-2014
11:00 AM
10-14-2014
11:00 AM
Our Winter Travel Sale is Here for the Holidays!
Southwest Airlines (NYSE: LUV) is launching a three-day sale offering extra low fares for winter travel. Customers can take advantage of fares as low as $49, $99, $129, and $149 one-way to select markets today, October 14 through Thursday, October 16, 2014, 11:59 p.m. for the respective time zone of the originating city. Fares are available for travel on nonstop flights every day except Fridays and Sundays beginning Dec. 3 through Dec. 17, 2014 and Jan. 6 through Feb. 11, 2015 (check fare rules below for restrictions and exclusions). Seats are limited. Some flights are operated by AirTran Airways. Now you can find all your low fare options, including AirTran sale fares, on www.southwest.com.
To see the list of available cities, prices, and to take advantage of Southwest and AirTran's special fares, visit www.southwest.com.
Examples of Southwest Airlines' low fares include (see Fare Rules below for restrictions and exclusions):
As low as $49 one-way nonstop between Las Vegas and Los Angeles (LAX)
As low as $49 one-way nonstop between Chicago (Midway) and Omaha
As low as $99 one-way nonstop between Dallas (Love Field) and Ft. Lauderdale
As low as $99 one-way nonstop between Nashville and Orlando
As low as $129 one-way nonstop between Denver and Boston Logan
As low as $149 one-way nonstop between Baltimore/Washington and San Diego
SOUTHWEST AIRLINES FARE RULES
Purchase from October 14 through October 16, 2014, 11:59 p.m. for the respective time zone of the originating city. Travel December 3 through December 17, 2014 and January 6 through February 11, 2015. Travel to/from San Juan, Puerto Rico valid December 3 through December 11, 2014 and January 13 through February 11, 2015. Travel valid every day except Fridays and Sundays. Travel to Florida or Nevada is valid Sunday through Wednesday only. Additionally, travel from Florida or Nevada is valid Tuesday through Friday only. Travel between Nevada and Florida is valid on Tuesdays and Wednesdays only. Some flights operated by AirTran® Airways. Fares valid on nonstop service only. Displayed prices include all U.S. and international government taxes and fees. Seats are limited. Fares may vary by destination, flight, and day of week and won't be available on some flights that operate during very busy travel times and holiday periods. Travel is available for one-way Wanna Get Away Fares. Fares may be combined with other Southwest Airlines combinable fares. If combining with other fares, the most restrictive fare's rules apply. Sale fares may be available on other days of week, but not guaranteed. Fares are nonrefundable but may be applied toward future travel on Southwest Airlines, so long as you cancel your reservations at least ten minutes prior to the scheduled departure of your flight. Failure to cancel prior to departure will result in forfeiture of remaining funds on the reservation. Any change in itinerary may result in an increase in fare. Standby travel requires an upgrade to the Anytime Fare. Fares are subject to change until ticketed. Offer applies to published, scheduled service only.
www.southwest.com
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at southwest.com/citizenship.
Book Southwest Airlines' low fares online at southwest.com or by phone at 800-I-FLY-SWA.
SOURCE Southwest Airlines
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Company Introduces New Nonstop Service from its home airport; Celebrates throughout Dallas by giving away 1,000 Free Flights This release contains: 1 Related Document, 27 Photos, 1 Video Southwest Airlines® (NYSE: LUV) is giving away 1,000 free flights to celebrate its new-found freedom from its home airport, Dallas Love Field. The carrier is celebrating the repeal of the law known as the "Wright Amendment" which was imposed in 1979, limiting the reach of Dallas' convenient airport. Starting today, the airline begins offering new nonstop flights from Love Field to the first of 17 destinations.
Denver
Chicago (Midway)
Baltimore/Washington
Washington, D.C. (Reagan National)
Las Vegas
Los Angeles (LAX)
Orlando
Beginning November 2, 2014, Southwest Airlines will continue its rollout of new nonstop flights from Love Field to:
Phoenix
Orange County/Santa Ana
San Diego
Tampa Bay
Ft. Lauderdale
New York City (LaGuardia)
Atlanta
Nashville
Beginning January 6, 2015:
San Francisco (SFO)
Oakland (OAK)
"After 34 long years, Southwest now has the right to spread our low fares, our friendly policies, our Fun-LUVing Attitudes, and Legendary Customer Service," said Gary Kelly, Southwest Airlines Chairman, President, and Chief Executive Officer during a spirited news conference in front of airline Employees and community Leaders. "Most importantly, we have the right to spread our LOVE across the United States anywhere we want to fly nonstop from our home airport, and our hometown, Dallas, Texas. On this day, October 13, 2014, Southwest Airlines celebrates that Dallas Love Field has officially been Set Free!"
Customers on each of the first departures from Love Field to one of the seven new nonstop destinations received special gifts including shirts, Southwest Vacations packages, and more as a way to celebrate the new flights and thank Customers for their support. In keeping with the week of NONSTOP Love, Southwest Airlines Rapid Rewards® Credit Card is celebrating by surprising Customers on flights throughout the week with various gifts and giveaways. Dallas-based Batter Up Cake Shop also surprised Customers and Employees with a cake dedicated to the new nonstop destinations the carrier is now offering from Love Field.
2014 is a milestone year for the 43-year-old airline. The carrier launched international flights to the Caribbean and Mexico, remains on track to complete the AirTran acquisition by the end of the year, revealed a new look, and now is breaking through the wall of the Wright Amendment flight restrictions imposed in 1979 (international nonstop restrictions still apply).
To find low fares to all the destinations the carrier serves, visit southwest.com.
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of service, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other air carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. Southwest and wholly owned subsidiary AirTran Airways operate nearly 3,600 flights a day, serving 93 destinations across the United States and five additional countries. Service to San Jose, Costa Rica, begins in March 2015, subject to government approvals.
Based on the U.S. Department of Transportation's most recent data, Southwest Airlines is the nation's largest carrier in terms of originating domestic passengers boarded. The Company operates the largest fleet of Boeing aircraft in the world, a majority of which are equipped with satellite-based WiFi connectivity while over the United States that enables video-on-demand and a free, live TV offering of 13 channels compliments of DISH. Bags Fly Free® at Southwest Airlines (first and second checked pieces of luggage, size and weight limits apply), and there are never change fees, although fare differences might apply. In September 2014, the airline proudly unveiled Heart, a new aircraft livery, airport experience, and logo, showcasing the dedication of Southwest Employees to connect Customers with what's important in their lives.
From its first flights on June 18, 1971, Southwest Airlines launched an era of unprecedented affordability in air travel described by the U.S. Department of Transportation as "The Southwest Effect," a lowering of fares and increase in passenger traffic wherever the carrier serves. With 41 consecutive years of profitability, Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. The 2013 Southwest Airlines One Report™ can be found at southwest.com/citizenship.
Book Southwest Airlines' low fares online at southwest.com or by phone at 800-I-FLY-SWA.
Media Contact:
Southwest Airlines Media Relations 214-792-4847 swamedia@wnco.com
Multi-Media Assets and other Company news at swamedia.com
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