As Southwest celebrates our 55th Birthday on June 18, we are proud to honor two Flight Attendants whose journeys span nearly our entire history.
Deborah Stembridge joined Southwest Airlines on June 18, 1971, our very first day of operation. Sandra Force followed later that year on September 20, 1971. Together, they have experienced Southwest’s evolution firsthand, wearing every Flight Attendant uniform along the way.
Deborah Stembridge (left) and Sandra Force (right) joined Southwest in 1971
When asked what has kept them passionate about their roles for 55 years, their answer is simple: the People.
The joy of creating meaningful moments and genuine connections with Customers continues to inspire them every day.
Deborah Stembridge and Sandra Force, 2026
To celebrate this remarkable milestone, Deborah and Sandra are being honored with a specially designed 55 Year Service Anniversary pin created to mark their achievement.
Designed with Meaning
Each Southwest Service Anniversary pin is thoughtfully designed to reflect both our history and our Heart.
The wing-inspired shape honors aviation tradition, while the Southwest Heart sits proudly at the center. Milestones are represented through specific colors and gemstones that symbolize years of service and dedication.
Since 2022, Southwest Airlines Service Anniversary pins have been designed by O.C. Tanner, based in Salt Lake City, Utah.
O.C. Tanner is the same designer who creates the official commemorative rings for every United States Olympic and Paralympic Team member. When Southwest Employees wear their Service Anniversary pin, they are wearing a symbol crafted with the same level of care and prestige as the rings awarded to Team USA.
Recognition at Southwest goes beyond the pin itself.
On their anniversary, Employees receive a personalized yearbook and the opportunity to select a gift from a curated catalog. Those celebrating milestone anniversaries such as 10, 15, 20, 25, 30 years and beyond are invited to an annual Service Anniversary party in Dallas, Texas, to celebrate this accomplishment together with their fellow Southwest Cohearts.
At Southwest Airlines, celebrating Service Anniversaries is more than a tradition. It is a reflection of our Culture. Our Employees are the Heart that keeps us moving forward. We are honored to celebrate those who have dedicated their careers to Southwest, continuing to deliver legendary Hospitality and make a lasting impact on our Customers and our Culture.
Southwest Airlines celebrates the 250th anniversary of the nation’s founding with the introduction of Independence One, a special new livery from the airline that is known for democratizing the skies.
Southwest Airlines unveils its newest specialty livery Independence One, celebrating America 250. // Photo Credit Stephen M. Keller 2026
Independence One will join two additional Southwestยฎ America-themed planesโFreedom One, which has been in the fleet since 2021, and Liberty One, a second newly-introduced aircraft painted in an American flag theme.
Copyright Photo: Tony Storck.
“With our new Independence One and Liberty One aircraft, we honor this important milestone in our nation’s history, and the generations of Customers that Southwest has carried. They join our Freedom One aircraft in uniting families, bringing service members home, flying entrepreneurs chasing an opportunity, and helping communities stay connected,” said Bob Jordan, President & Chief Executive Officer at Southwest Airlinesยฎ. “Southwest is proud to be a part of the 250th national celebration and to honor the same spirit of innovation, resilience, and optimism that has shaped our country and our Company.”
Southwest Airlines carries more travelers flying nonstop within the United States than any other airlineยน, helping connect cities, states, and stories across the country. Independence One will feature several design elements that commemorate our nation:
Red, white, and blue paint scheme with 1776 written in giant quill script
The key phrase, “life, liberty and the pursuit of happiness” from the Declaration of Independence and the three inalienable rights endowed to all humans
Thirteen stars on the fuselage denoting the thirteen original colonies
Circle of stars on each engine cowling reflecting the original Betsy Ross flag
Special “1776” (N1776R) tail number
America250 nose and winglet decal
Additionally, Southwest Airlines is proud to announce its partnership with America250 as the official airline of America Gives, joining nationwide efforts to make 2026 the largest year of volunteerism in our country’s history. To support this initiative, the airline will invest up to $250,000 to further support the nonprofits our Employees serve and amplify the reach of their volunteerism. The We Serve Together grant from Southwest Airlines is a commitment to build upon the more than 180,000 hours of volunteer service from Southwest Employees in 2025.
Independence One will officially join the fleet on April 29 with its first scheduled flight from the airlineโs hometown in Dallas, Texas, to Philadelphia, the birthplace of the Declaration of Independence and the U.S. Constitution. Look for tail number N1776R on this day and throughout the year for special stops to celebrate 250 years along with the America250 logo flying proudly on Independence One, Liberty One, and Freedom One all year long.
We know you count on us to connect you to what’s important in your life. Thank you for your patience and trust as we worked through the challenges our industry faced during the recent U.S. government shutdown.
Thanks to significant investments we’ve made in our operation and technology, Southwest was able to minimize disruptionsโeven in a challenging and constantly evolving environment, and even as others in the industry struggled.
Through it all, our People stayed focused on what matters most: you. They shared updates, offered flexibility, and went above and beyond to make travel easier. That same dedicationโevery day, not just during challenging timesโhelped Southwest have the lowest cancellation rate in the industry* since 2023 and earned us the recognition as the #1 airline in Economy Class Customer Satisfaction by J.D. Power for the fourth consecutive year.
With air travel back to normal, our People are eager to welcome you onboard with the service, Hospitality, and reliability that define Southwest Airlinesยฎ.
Whether you’re traveling for business, reconnecting with loved ones, or heading out for the holidays, were here to make your journey smooth, safe, and enjoyable.
Thank you for continuing to choose Southwest Airlines. We can’t wait to welcome you onboard.
With gratitude,
Bob Jordanย President & Chief Executive Officer Southwest Airlines
Southwest Airlinesยฎ is celebrating a major milestone in our journey to give Customers more choice with the delivery of the first aircraft with an updated cabin. This new aircraft provides a tangible way for our Customers to experience our elevated product, including:
Updated cabin design;
New aircraft seats made by RECARO;
The Extra Legroom1 experience, including enhanced snack options2 (coming soon); and,
Larger overhead bins, in-seat power at every seat, and seatback design updates.
The Boeing MAX 8 aircraft (tail number N8972S) is expected to enter service on Thurs., Oct. 16. Each new aircraft Southwestยฎ receives from Boeing will include these features, delivering on Southwestโs fleet modernization plans and bringing an elevated onboard experience with premium options to our Customers.
Our New Cabin Design
Southwest is introducing an updated cabin look with new RECARO R2 seats, a refreshed lighting package, updated carpet, and other unique design details. The look centers around a palette of blue tones that connect to our Brand while pairing seamlessly with our new seats.
The design is based on extensive research covering Customer and Employee perceptions of color, comfort, and aspirations for the overall onboard experience, and itโs meant to create a cabin environment that feels modern, welcoming, and uniquely Southwest.
RECARO Seats
In 2024, we selected RECAROโthe global supplier of premium aircraft seatsโto provide comfortable seating, based on Customer research and product testing. These new seats will be installed on all new Southwest aircraft deliveries, and we will be retrofitting a few of our current -800s with RECARO seats later this year.
RECARO seats are intuitively designed for ultimate comfort, while maximizing seat width and overall support. Every multi-adjustable headrest cushion features a Southwest Heart, while the seat features a sunray pattern.
The Extra Legroom (ELR) Experience, Including Enhanced Snack Options!
The cabin features Extra Legroom (ELR) sections that provide our Customers a roomier experience with more room to stretch out at the front of the cabin and near the Exit rows.
RECARO ELR seats will iconically stand out from the rest of the cabin, featuring a sky blue sunray design that is visible from the front and back.
Boarding Group 1 or 2, providing earlier access to overhead bin space3;
Complimentary premium beverages; and,
Enhanced snack options.
We are pleased to announce that Customers seated in ELR seats will have the option to choose from Wonderfulยฎ Pistachios No Shells, both the Roasted & Saltedand Honey Roasted flavors, in addition to our current snacks. These new onboard offerings provide more options exclusively for Customers in our most premium seats, while harkening back to our history with a nod to the lightly salted and honey roasted peanuts we previously served onboard.
Larger Overhead Bins, In-Seat Power at Every Seat, and Seatback Design Updates
Southwest has been hard at work to update our fleet with in-seat power and larger overhead bins for carryon storage.
This aircraft and all new deliveries feature the larger overhead bins and a USB-A and USB-C port on each seatback, providing Customers with in-seat power to charge their phones, tablets, laptops, and more.
In addition, the new RECARO seatbacks also include a personal electronic device holder, designed to allow Customers a comfortable way to enjoy inflight entertainment; and a tray table with two inset beverage holdersโone for right-hand flyers and one for left.
More Onboard Enhancements to Come
In addition to the new features available on new aircraft deliveries beginning this week, Southwest continues to elevate the onboard experience for our Customers through 2026 and beyond. These include:
Modernizing our -700s;
Free WiFi4 for all Rapid Rewards Membersยฎ thanks to T-Mobileยฎ; and,
Refreshed uniforms.
Modernizing Our -700s
As we work to enhance the Customer experience across our fleet and provide more consistent offerings, we will modernize more than half of our Boeing 737-700s by adding in-seat power, work that is expected to begin in the second half of 2026 and aimed to be completed by mid-2027. Aircraft expected to remain in our fleet longest are being prioritized for this upgrade.
Free WiFi is Coming for Rapid Rewards Members
As we announced last month, weโll offer free inflight WiFi, thanks to T-Mobile, to all Rapid Rewards Members, beginning Oct. 24, 2025! As we continue to enhance our onboard experience, inflight WiFi is a key element in that journey and allows us to provide meaningful value to our loyal Customers.
Refreshed Uniforms
As a complement to the elevated cabin design, a uniform refresh for Southwest Employees who work in and around airports, including Inflight Operations, Ground Operations, Provisioning, Cargo, Ground Support Equipment Teams, and Technical Operations, is expected to rollout in 2027.
1Up to five additional inches of extra legroom compared to Standard and Preferred seats. Seat pitch will vary by aircraft type.
2Excluding Hawaii interisland flights, complimentary non-alcoholic drinks and snacks are served on select flights 251 miles or more. If youโre flying between Hawaii and the continental U.S., youโll have more snacks to choose from. Service may also be limited at the discretion of Southwest Airlinesยฎ.
3Boarding group is based on the seat type and location in the cabin. The seats included in the fare bundle are based on availability. Our Rapid Rewardsยฎ A-List Preferred Members will board in Groups 1 or 2, and our A-List Members and Rapid Rewards Credit Cardmembers will board no later than Group 5.
4Where available. Available on WiFi-enabled designated aircraft.
Southwest Airlines Company today reported its first quarter 2024 financial results:
Net loss ofย $231 million, orย $0.39ย loss per diluted share
Net loss, excluding special items1, ofย $218 million, orย $0.36ย loss per diluted share
Record first quarter operating revenues ofย $6.3 billion
Liquidity2ย ofย $11.5 billion, well in excess of debt outstanding ofย $8.0 billion
Bob Jordan, President and Chief Executive Officer, stated, “While it is disappointing to incur a first quarter loss, we exited the quarter with healthy profits and margins in the month of March. We are focused on controlling what we can control and have already taken swift action to address our financial underperformance and adjust for revised aircraft delivery expectations. I want to thank our more than 74,000 Employees for their continued Warrior Spirit to maintain a reliable and resilient operation as we adapt to aircraft delivery constraints and adjust to slower than planned growth for this year and next.
“Our first quarter 2024 revenue performance, while shy of our prior aspirations, resulted in record first quarter operating revenues, record first quarter passengers carried, and a solid sequential improvement in nominal unit revenue when compared with seasonal norms. The sequential improvement was driven by an acceleration in managed business revenues as well as benefits from network adjustments, which started in earnest with the March schedule. While costs remain a headwind, we are realizing benefits from our ongoing cost reduction actions and remain focused on enhancing productivity and controlling discretionary spending. We also have certainty with labor rates, having ratified agreements with 11 of our labor groups in the past 18 months, including the agreement ratified yesterday for our Flight Attendants.
“Achieving our financial goals is an immediate imperative. The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. We are reacting and replanning quickly to mitigate the operational and financial impacts while maintaining dependable and reliable flight schedules for our Customers.
“To improve our financial performance, we have intensified our network optimization efforts to address underperforming markets. Consequently, we have made the difficult decision to close our operations at Bellingham International Airport, Cozumel International Airport, Houston’s George Bush Intercontinental Airport, and Syracuse Hancock International Airport. I want to sincerely thank our Employees, the airports, and the communities for all their incredible support over the years.
“Additionally, we are evaluating options to enhance our Customer Experience as we study product preferences and expectations, including onboard seating and our cabin. And, we are implementing cost control initiatives, including limiting hiring and offering voluntary time off programs. We now expect to end 2024 with approximately 2,000 fewer Employees as compared with the end of 2023.
“We are focused on achieving our financial prosperity goals and creating value for our Shareholders, while we adjust to changes in our aircraft delivery plans, Customer travel patterns and preferences, higher fuel prices, and other cost pressures. We are excited and optimistic with a robust set of strategic initiatives that are well underway. They are comprehensive and aimed at enhancing the Customer Experience; delivering operational excellence; creating new and meaningful revenue opportunities; expanding margins; and achieving return on invested capital well above of our weighted average cost of capital. We look forward to sharing these plans at our Investor Day in September.”ย
(a) Operating revenue per available seat mile (“RASM” or “unit revenues”).
(b) Available seat miles (“ASMs” or “capacity”). The Company’s flight schedule is published for sale through March 5, 2025. The Company expects third quarter 2024 capacity to increase in the low-single digits and fourth quarter 2024 capacity to decrease in the low- to mid-single digits, resulting in capacity growth in the range of flat to down low-single digits in second half 2024, all on a year-over-year percentage basis.
(c) Operating expenses per available seat mile, excluding fuel and oil expense, special items, and profitsharing (“CASM-X”).
(d) Aircraft on property, end of period. The Company now plans for approximately 20 Boeing 737-8 (“-8”) aircraft deliveries and 35 aircraft retirements in 2024, comprised of 31 Boeing 737-700s (“-700”) and four Boeing 737-800s (“-800”). This is compared with its previous plan for approximately 46 -8 deliveries and 49 aircraft retirements. The delivery schedule for the Boeing 737-7 (“-7”) is dependent on the Federal Aviation Administration (“FAA”) issuing required certifications and approvals to The Boeing Company (“Boeing”) and the Company. The FAA will ultimately determine the timing of the -7 certification and entry into service, and Boeing may continue to experience manufacturing challenges, so the Company offers no assurances that current estimations and timelines will be met.
Revenue Results and Outlook:
First quarter 2024 operating revenues were a first quarter recordย $6.3 billion, a 10.9 percent increase, year-over-year
First quarter 2024 RASM was flat, year-over-yearโat the low end of the Company’s previous guidance range
The Company had record first quarter revenue performance driven by strong demand trends and record first quarter passenger and ancillary revenue, passengers carried, and new Rapid Rewardsยฎ Members. The Company’s first quarter 2024 RASM came in at the low end of its expectations primarily due to lower-than-expected close-in leisure passenger volume, including lower-than-expected maturation of development markets. Still, nominal sequential RASM in first quarter 2024 was ahead of normal seasonal trends. First quarter 2024 managed business revenues strengthened sequentially, as expected, finishing roughly flat when compared with first quarter 2019 levels, and up approximately 25 percent, year-over-year. Network optimization adjustments, implemented with the March schedule, were accretive and supported the profitability inflection point and strong margins for the month of March 2024.
Based on current booking trends, the Company continues to expect an all-time quarterly record for operating revenue in second quarter 2024. Second quarter 2024 RASM is expected to decrease in the range of 1.5 percent to 3.5 percent, on capacity growth of 8 percent to 9 percent, both year-over-year. The comparison includes just over one point of year-over-year headwind from the combined impact of Easter and 4th of July timing. Once again, the Company currently expects nominal second quarter 2024 sequential RASM trends to exceed normal seasonal trends. This anticipated sequential improvement includes expected benefits from revenue initiativesโmost notably a full quarter of network optimization.
Significant challenges presented by Boeing aircraft delivery delays, and the related reduction in second half 2024 capacity, negatively impact the Company’s previous expectation for double-digit year-over-year operating revenue growth for full year 2024. As such, the Company now expects full year 2024 year-over-year operating revenue growth approaching high-single digits when adjusted for current trends and planned reductions for post-summer schedules. While the Company remains committed to the goal of earning its cost of capital, these new challenges, combined with current trend pressures, make it more realistic to expect that to occur beyond 2024. The Company is working on further optimization of its network with the goal to improve unit revenue performance and operating margins5. To that end, the Company has made the difficult decision to cease operations at Bellingham International Airport, Cozumel International Airport, Houston’s George Bush Intercontinental Airport, and Syracuse Hancock International Airport on August 4, 2024, and significantly restructure other markets, most notably by implementing capacity reductions in both Hartsfield-Jackson Atlanta International Airport and Chicago O’Hare International Airport.
The Company’s initiatives, which include the estimated benefit of network changes, are expected to contribute between $1.0 billion and $1.5 billion in 2024 year-over-year pre-tax profits, compared with its initial plan of roughly $1.5 billion. The estimated value has been updated for first quarter actual performance, development market adjustments, and capacity changes in the second half of the year. Furthermore, the Company will continue to evaluate its network and work on its robust set of new strategic initiatives, including revenue generating opportunities.
Fuel Costs and Outlook:
First quarter 2024 economic fuel costs wereย $2.92ย per gallon1โslightly below the Company’s previous expectations primarily as a result of lower-than-expected refinery marginsโand includedย $0.08ย per gallon in premium expense andย $0.04ย per gallon in favorable cash settlements from fuel derivative contracts
First quarter 2024 fuel efficiency improved 2.5 percent, year-over-year, primarily due to more -8 aircraft, the Company’s most fuel-efficient aircraft, as a percentage of its fleet
As of April 18, 2024, the fair market value of the Company’s fuel derivative contracts settling in second quarter 2024 through the end of 2026 was an asset ofย $270 million
The Company’s multi-year fuel hedging program continues to provide protection against spikes in energy prices. The Company’s current fuel derivative contracts contain a combination of instruments based on West Texas Intermediate and Brent crude oil, and refined products, such as heating oil. The economic fuel price per gallon sensitivities3 provided in the table below assume the relationship between Brent crude oil and refined products based on market prices as of April 18, 2024.
Estimated economic fuel price per gallon, including taxes and fuel hedging premiums
Average Brent Crude Oil price per barrel
2Q 2024
2024
$70
$2.45 – $2.55
$2.50 – $2.60
$80
$2.65 – $2.75
$2.70 – $2.80
Current Market (a)
$2.70 – $2.80
$2.70 – $2.80
$90
$2.80 – $2.90
$2.85 – $2.95
$100
$3.00 – $3.10
$3.05 – $3.15
$110
$3.10 – $3.20
$3.15 – $3.25
Fair market value of fuel derivative contracts settling in period
$27 million
$109 million
Estimated premium costs
$39 million
$158 million
(a) Brent crude oil average market prices as of April 18, 2024, were $87 and $84 per barrel for second quarter and full year 2024, respectively.
In addition, the Company is providing its maximum percentage of estimated fuel consumption6 covered by fuel derivative contracts in the following table:
Periodโโ
Maximum fuel hedged percentage (a)
2024
58 %
2025
47 %
2026
26 %
(a) Based on the Company’s current available seat mile plans. The Company is currently 55 percent hedged in second quarter 2024 and 58 percent hedged for second half 2024.
First quarter 2024 operating expenses, excluding fuel and oil expense, special items, and profitsharing1, increased 16.5 percent, year-over-year
First quarter 2024 CASM-X increased 5.0 percent, year-over-yearโbetter than the Company’s previous expectations
The Company’s first quarter 2024 CASM-X increased 5.0 percent, year-over-year, approximately one point better than prior guidance primarily due to favorable airport settlements and higher-than-expected participation in voluntary time off programs. The majority of the first quarter CASM-X increase, year-over-year, was attributable to higher 2024 overall labor cost increases, as well as pressure from planned maintenance expenses.
The Company continues to expect similar cost pressures throughout the year, driving second quarter 2024 CASM-X to an expected increase in the range of 6.5 percent to 7.5 percent, year-over-year. The Company expects full year 2024 CASM-X to increase in the range of 7 percent to 8 percent, based on a reduction of roughly 2 points of lower than previously expected capacity, on a year-over-year basis.
First quarter 2024 net interest income, which is included in Other expenses (income), increased $18 million, year-over-year, primarily due to a $16 millionincrease in interest income driven by higher interest rates.
Fleet, Capacity, and Capital Spending: During first quarter 2024, the Company received five -8 aircraft and retired three -700 aircraft, ending first quarter with 819 aircraft. Given the Company’s discussions with Boeing and expected aircraft delivery delays, the Company plans for approximately 20 -8 aircraft deliveries in 2024, a reduction from the Company’s previous expectation of 46 -8 aircraft deliveries, which differs from its contractual order book displayed in the table below. Consequently, to support fleet flexibility for 2025, the Company plans to retire approximately 35 aircraft in 2024 (31 -700s and four -800s), a reduction from its previous expectation of 49 (45 -700s and four -800s). This will result in a fleet of roughly 802 aircraft at year-end 2024. As a result of Boeing’s delivery delays, the Company has conservatively re-planned its capacity and delivery expectations for the remainder of this year and next. However, there is no assurance that Boeing will meet this most recent delivery schedule.
The Company’s flight schedule is published for sale through March 5, 2025. In light of the Company’s lower aircraft delivery expectations, the Company estimates second quarter 2024 capacity to increase in the range of 8 percent to 9 percent; third quarter 2024 capacity to increase in the low-single digits; fourth quarter 2024 capacity to decrease in the low- to mid-single digits; and full year 2024 capacity to increase approximately 4 percent, all on a year-over-year percentage basis. While the Company continues to adjust and re-optimize schedules for the second half of the year, the current expectation is for aircraft seats and trip frequency to decline in the third and fourth quarters of 2024, both on a year-over-year basis. The Company currently plans for capacity growth beyond 2024 to be at or below macroeconomic growth trends until the Company reaches its long-term financial goal to consistently achieve after-tax return on invested capital (“ROIC”)7 well above its weighted average cost of capital (“WACC”).
The Company’s first quarter 2024 capital expenditures were $583 million, driven primarily by aircraft-related capital spending, as well as technology, facilities, and operational investments. The Company now estimates its 2024 capital spending to be roughly $2.5 billion, which includes approximately $1.0 billion in aircraft capital spending, assuming approximately 20 -8 aircraft deliveries in 2024 and continued progress delivery payments for the Company’s contractual 2025 firm orders.
Last week, the Company entered into a Supplemental Agreement with Boeing relating to its contractual order book for -7 and -8 aircraft. This Supplemental Agreement addresses updates related to the continued -7 delay in certification and supports the Company’s continued focus on fleet modernization. The Supplemental Agreement formalized the conversion of 19 2025 -7 firm orders into -8 firm orders as of March 31, 2024, and shifted one 2025 -8 option into 2026 as of April 2024. The following tables provide further information regarding the Company’s contractual order book and compare its contractual order book as of April 25, 2024, with its previous order book as of January 25, 2024. The contractual order book as of April 25, 2024 does not include the impact of delivery delays and is subject to change based on ongoing discussions with Boeing.
Current 737 Contractual Order Book as of April 25, 2024:
The Boeing Company
-7 Firm Orders
-8 Firm Orders
-7 or -8 Options
Total
2024
27
58
โ
85
(c)
2025
40
19
14
73
2026
59
โ
27
86
2027
19
46
25
90
2028
15
50
25
90
2029
38
34
18
90
2030
45
โ
45
90
2031
45
โ
45
90
288
(a)
207
(b)
199
694
(a) The delivery timing for the -7 is dependent on the FAA issuing required certifications and approvals to Boeing and the Company. The FAA will ultimately determine the timing of the -7 certification and entry into service, and the Company therefore offers no assurances that current estimations and timelines are correct.
(b) The Company has flexibility to designate firm orders or options as -7s or -8s, upon written advance notification as stated in the contract.
(c) Includes five -8 deliveries received year-to-date through March 31, 2024. Given the Company’s continued discussions with Boeing and expected aircraft delivery delays, the Company is currently planning for approximately 20 -8 aircraft deliveries in 2024.
Previous 737 Order Book as of January 25, 2024 (a):
The Boeing Company
-7 Firm Orders
-8 Firm Orders
-7 or -8 Options
Total
2024
27
58
โ
85
2025
59
โ
15
74
2026
59
โ
26
85
2027
19
46
25
90
2028
15
50
25
90
2029
38
34
18
90
2030
45
โ
45
90
2031
45
โ
45
90
307
188
199
694
(a) The ‘Previous 737 Order Book’ is for reference and comparative purposes only. It should not be relied upon. See ‘Current 737 Contractual Order Book’ for the Company’s current aircraft order book.
Liquidity and Capital Deployment:
The Company ended first quarter 2024 withย $10.5 billionย in cash and cash equivalents and short-term investments, and a fully available revolving credit line ofย $1.0 billion
Theย $921 millionย reduction in cash and cash equivalents during first quarter 2024 was driven primarily by theย $1.35 billionย payout of the Pilot contract ratification bonus
The Company continues to have a large base of unencumbered assets with a net book value of approximatelyย $17.2 billion, includingย $14.4 billionย in aircraft value andย $2.8 billionย in non-aircraft assets such as spare engines, ground equipment, and real estate
The Company had a net cash position8ย ofย $2.5 billion, and adjusted debt to invested capital (“leverage”)9ย of 47 percent as of March 31, 2024
The Company returnedย $215 millionย to its Shareholders through the payment of dividends during first quarter 2024
The Company paidย $8 millionย during first quarter 2024 to retire debt and finance lease obligations, consisting entirely of scheduled lease payments
Awards and Recognitions:
Named to FORTUNE’s list of World’s Most Admiredยฎย Companies; ranked #39 overall
Named Domestic Carrier of the Year by the Airforwarders Association
Named the #2 domestic airline by the 2024 Elliot Readers’ Choice Awards
Recognized by Newsweek as one of America’s Most Responsible Companies
Earned Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index
Designated one of the 25 Best Companies for Latinos to Work 2024 by Latino Leaders Magazine
Received the following 2024 designations from Viqtory: Military Friendly Employer, Military Spouse Employer, and Military Friendly Supplier Diversity Program
Environmental, Social, and Governance (“ESG”):
Announced the launch of Southwest Airlines Renewable Ventures (“SARV”), a wholly-owned subsidiary of Southwest Airlinesยฎย dedicated to creating more opportunities for Southwest to obtain scalableโฏsustainable aviation fuelโฏ(“SAF”), a critical component in the success of the carrier’s goal to replace 10 percent of its total jet fuel consumption with SAF by 2030
Announced the acquisition of SAFFiRE Renewables, LLC (“SAFFiRE”) as part of the SARV investment portfolio. SAFFiRE expects to utilize technology developed at the Department of Energy’s National Renewable Energy Laboratory (“NREL”) to convert corn stover, a widely available agricultural residue feedstock in theย U.S., into renewable ethanol
Announced aย $30 millionย investment in LanzaJet, Inc., a SAF technology provider and producer with the world’s first ethanol-to-SAF commercial plant, as part of the SARV investment portfolio
Joined the Hawai’i Seaglider Initiative to explore the feasibility of 100 percent electric, zero direct emissions technology
Published the Southwest Airlines Climate Advocacy statement
Celebrated Black History Month and Women’s History Month throughout February and March 2024, respectively. Southwest highlighted its Employee Resource Groups and encouraged Employees to get involved and learn more about cultural, heritage, and pride months
Highlighted National Human Trafficking Prevention Month to educate Employees and Customers on ways to help combat this issue. Southwest is proud to support multiple nonprofit organizations whose efforts help with the rescue, recovery, and restoration of human trafficking survivors
Launched applications for the Southwest Scholarship Program, which includes two scholarship opportunities. The Southwest Airlinesยฎย Community Scholarship seeks to build a diverse talent pipeline, while inspiring future generations to find careers within the airline industry. The Southwest Airlinesยฎย Founders Scholarship was established for eligible dependents of Southwest Airlines Employees to pursue higher education
Celebrated the fifth anniversary of Southwest’s service toย Hawaiiย by announcing a partnership with the Council for Native Hawaiian Advancement (“CNHA”) as Presenting Sponsor of the community’s beloved and revitalized Kilohana Hula Show
Visit southwest.com/citizenship for more details about the Company’s ongoing ESG efforts
Because of the Boeing delivery delays, Southwest will drop service to four destinations on August 4, 2024:
Southwest Airlines has announced that its Flight Attendants, represented by the Transport Workers Union Local 556, voted in favor of a new collective bargaining agreement. In addition to industry-leading compensation increases, the new agreement incorporates refined on-call scheduling for Southwest Airlinesยฎย Flight Attendants and other quality-of-life enhancements, including Company-paid maternity and parental leaves.
The contract covering nearly 20,000 Southwestยฎ Flight Attendants becomes amendable in 2028.
Since October 2022, 11 union-represented workgroups at the airline have ratified new agreements:
Appearance Technicians
Customer Service Agents, Customer Representatives, and Source of Support Representatives
Southwest Airlines has extended its schedule through April 10, 2023:
Southwest Airlines has opened its published flight schedule through April 10, 2023, giving Customers an early start to Spring Break 2023 vacation planning. With todayโs schedule extension, the airline has brought back many popular routes for spring breakers that connect them to mountains, beaches, and destinations perfect for a springtime getaway.
Mile High Heart Grows
Largest-Ever March Schedule from Denver
Southwestยฎ is bringing more Mile High Heart to its Colorado Customers. The airline today published its largest-ever March schedule from Denver beginning in March 2023, with up to 270 departures a day, an increase of 27 flights from February 2023โs published schedule.
International Network from Denver Grows
Beginning March 11, 2023, Southwest is adding seasonal service on Saturdays between Denver and San Jose, Costa Rica*, alongside existing Saturday service between Denver and Liberia, Cosa Rica. The carrier currently serves several international destinations from Denver including Belize, and four destinations in Mexico: Cancun, Cozumel, Puerto Vallarta, and Cabo San Lucas/Los Cabos**.
More Southwest Heart Lands in Las Vegas
Southwest Airlines is bringing more Heart to Las Vegas beginning in March 2023 with its largest-ever schedule from Las Vegas. The carrierโs published schedule now offers up to 243 departures a day in March 2023, an increase of 12 flights from February 2023โs published schedule.
Seasonal Flights Ready to Take Off
Southwest will offer a new nonstop seasonal route on Saturdays effective March 11, 2023, between San Diego and Eugene, Ore. The airline also announced several seasonal flights are now available for booking.
*Subject to government approvals **Some routes are offered on a seasonal basis.ย
Southwest Airlines hass announced its promotional Companion Passยฎย offer is once again back and ready for takeoff. Rapid RewardsยฎMembers who qualify can travel with a Companion valid for unlimited usage from Jan. 4 through March 4, 2023.*
Travel on one of those booked reservations from Sept. 6 through Nov. 17, 2022.
The Companion Pass is a unique benefit amongย U.S.ย airlines and allows qualifying Customers to designate one person to fly with them, free of airline charges (does not include taxes and fees from $5.60 one-way)ย every timeย the Customer purchases or redeems points for a flight.*
Join Rapid Rewards The Rapid Rewards program is designed around a simple conceptโto make earning reward flights faster and easier. With Rapid Rewards, Members qualify for unlimited reward seats, no blackout dates, and points don’t expire.
*OFFER TERMS AND CONDITIONS Register for this promotion, then book one round trip or two one-way qualifying Southwestยฎ flights between 8:00 a.m. CT on Sept. 6, 2022, and 11:59 p.m. CT on Sept. 8, 2022, for travel from Sept. 6 to Nov. 17, 2022, (the “promotion period”), and fly during the promotion period to earn a promotional Companion Pass valid for use between Jan. 4 and March 4, 2023.
To register for this promotion, Customers will need to provide their Southwest Rapid Rewards account number at the time of registration. If a Customer does not have a Rapid Rewards account number, they may register for an account by going online toย Southwest.com/rapidrewardsย to become a Member. Rapid Rewards accounts are free. The Member must register for this promotion, book a qualifying Southwest flight between 8:00 a.m. CT on Sept. 6, 2022, and 11:59 p.m. CT on Sept. 8, 2022, for travel during the promotion period, and fly during the promotion period.
Registration must be completed prior to booking and commencement of travel. The offer is valid on new qualifying revenue flights booked between 8:00 a.m. CT on Sept. 6, 2022, and 11:59 p.m. CTon Sept. 8, 2022, for travel during the promotion period and flown within the promotion period. The Member’s qualifying flight must be booked through Southwest Airlines between 8:00 a.m. CTon Sept. 6, 2022, and 11:59 p.m. CT on Sept. 8, 2022, for travel that must be completed during the promotion period. The Member’s Rapid Rewards account number must be entered at the time of booking the Member’s qualifying flight to earn a promotional Companion Pass valid for use between Jan. 4 and March 4, 2023.
A qualifying one-way flight for this promotion is a one-way revenue flight on Southwest Airlines from an origin city to a destination city, including any intermediate stops and/or connections on Southwest Airlines. A qualifying round trip flight for this promotion is a round trip revenue flight on Southwest Airlines from an origin city to a destination city and back to the originating airport or carrier-recognized co-terminal. Valid on new reservations booked within the promotion period only. Travel booked or flown prior to registration for this promotion is not eligible for this promotional Companion Pass offer. Companion Pass, charter flights, reward and group travel, and Southwest Vacationsยฎ packages do not qualify as one-way or round trip revenue flights for this promotion. Changes made to any itinerary after the purchase of a one-way or round trip revenue flight may eliminate qualification for this promotion.
The promotional Companion Pass is valid from Jan. 4 to March 4, 2023, and allows Members to designate one person to fly with them, free of airline charges (does not include taxes and fees from $5.60 one-way) on flights purchased by the Member, from Jan. 4 to March 4, 2023, booked through Southwest, and completed between Jan. 4 and March 4, 2023. No Rapid Rewards points or tier or Companion Pass qualifying points will be awarded for flights taken by the Companion when flying on a promotional Companion Pass or Companion Pass reservation. Members may change their designated Companion up to three times while they have a promotional Companion Pass. If they earn Companion Pass in 2023 by earning 125,000 Companion Pass qualifying points or flying 100 qualifying flights, any changes to their designated Companion during the time the Member has a promotional Companion Pass will reduce the number of changes they can make to their designated Companion in the 2023 calendar year. For example, if a Member earns a promotional Companion Pass through this promotion, changes their designated Companion twice during the validity period for promotional Companion Pass, and later in 2023 earns Companion Pass, they would only be able to change their designated Companion one more time in 2023. The Companion Pass is non-transferable.
All Rapid Rewards rules and regulations apply and can be found atย Southwest.com/rrterms. Southwest reserves the right to amend, suspend, or change the Rapid Rewards program and/or Rapid Rewards program rules at any time without notice. Rapid Rewards Members do not acquire property rights in accrued points. The number of points needed for a particular Southwest flight is set by Southwest and will vary depending on destination, time, day of travel, demand, fare type, point redemption rate, and other factors, and is subject to change at any time until the booking is confirmed. ยฉ2022 Southwest Airlines Co.
Southwest Airlines has a new “Tennessee One” logo jet.
On September 3, 2022 Boeing 737-8H4 SSWL N8620H (msn 42526) re-entered service after being painted in the “Tennessee One” special livery.
The original “Tennessee One” was unveiled on February 22, 2016 on Boeing 737-7H4 N922WN. N922WN was quietly repainted in the standard livery in 2021.
At that time, Southwest issued this statement:
Tennessee One took ten days to paint with a crew of 12-15 people working over three different shifts, which is an extra two days than our normal Heart livery.
There are a total of eight colors being used to paint the aircraft with the most predominant color being red.
Over two thirds of the amount of paint used was red (almost 30 gallons).
The smallest star on the aircraft is just over six feet long while the largest is almost 10 feet long.
The circle in the Tennessee crest is just under 20 feet which is the same size as most outdoor swimming pools.
Tennessee One is a 737-700 aircraft emblazoned with an artistโs rendition of the Tennessee State flag. Tennessee One joins ten other 737s in the Southwest fleet that carry unique, state-themed paint schemes: Arizona One, California One, Colorado One, Florida One, Illinois One, Lone Star One (Texas), Maryland One, Missouri One, Nevada One, and New Mexico One.
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