United States

Southwest Airlines Co (LUV)

LUV on New York Consolidated

22 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Southwest Airlines CEO says will continue to evaluate 2017 growth plans - conf call
Thursday, 21 Jul 2016 12:11pm EDT 

Southwest Airlines Co : CEO says "Hopefully after a day of recovery things will be back to normal tomorrow morning" . "We're just not prepared to give any 2017 guidance yet" . Expects Q3 CASM excluding fuel, special items and profit sharing to increase about 2 percent y-o-y . Southwest Airlines CEO says no when asked if he was prepared to suspend all labor negotiations until the industry's revenue crisis is solved . Says couldn't take bookings on Wednesday due to outage and this may cost company $5-$10 million on net basis . Southwest Airlines says extending fare sale that co had planned to end tomorrow . Says in Q3 thus far, traffic, booking trends remain strong but the fare environment continues to be a challenge . CEO says but will continue to look carefully and evaluate 2017 growth plans . CEO says bookings now for the fall look quite good . CEO says "We've got some work to do on 2017" . Expect maintenance unit costs in Q3 to show some improvement . Southwest Airlines says Wednesday's outage was a router failure in the co's network and the recovery mechanisms did not work as planned . Southwest Airlines says need to make sure that recovery from Wednesday's outage happens quicker Further company coverage: [LUV.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Southwest Airlines reports Q2 earnings per share $1.28
Thursday, 21 Jul 2016 06:49am EDT 

Southwest Airlines Co : Southwest Airlines reports record quarterly profit . Quarterly earnings per share $1.19 excluding items . Quarterly earnings per share $1.28 . Quarterly revenue $5.4 billion . Qtrly load factor 85.6% versus 84.6% . Q3 2016 economic fuel costs are estimated to be approximately $2.05 per gallon . Southwest airlines co qtrly rpm 32.71 billion versus 30.86 billion last year . Q2 earnings per share view $1.21, revenue view $5.41 billion -- Thomson Reuters I/B/E/S . With previously announced decision to accelerate retirement of classic fleet to no later than Q3 2017, no longer anticipates significant retirements between 2018 and 2023 . Southwest Airlines co says firm deliveries previously scheduled between 2019 and 2022 were deferred to 2023 through 2025 in restructured order book . Southwest airlines co sees Q3 RASM to decline in the three to four percent range, compared with third quarter 2015 RASM . Continues to plan to end this year with 723 aircraft in fleet . In light of current revenue environment, continues to evaluate future capacity growth with focus on growing profitably . Southwest Airlines co says expects Q3 2016 RASM to decline in three to four percent range . Says expects its Q3 2016 and annual 2016 unit costs to increase approximately two percent, and approximately one percent, respectively, as compared with same year-ago periods.  Full Article

Southwest Airlines receives U.S. DOT authority to serve Havana, Cuba from Ft. Lauderdale, Tampa Bay
Thursday, 7 Jul 2016 10:50am EDT 

Southwest Airlines Co : Southwest Airlines receives U.S. Dot authority to serve Havana, Cuba, from Ft. Lauderdale (Miami area) and Tampa Bay . Southwest continues to plan for 2016 year-over-year available seat mile growth in 5-6 percent range .Daily flights expected to begin in 2016 from Ft. Lauderdale to three Cuban cities.  Full Article

Southwest Airlines says net liability for remainder of 2016 was about $533 mln
Thursday, 23 Jun 2016 04:26pm EDT 

Southwest Airlines Co : As of June 20, 2016, net liability for remainder of 2016 was approximately $533 million . Net liability for hedge portfolio in 2017 and 2018, combined, was approximately $439 million . To defer 10 max-8 aircraft from 2019 to 2023; to defer 22 max-8 aircraft from 2020 to 2024 and 2025 . To defer 20 max-8 aircraft from 2021 to 2024 and 2025; to defer 15 max-8 aircraft from 2022 to 2025 . To move delivery of 6 -800 aircraft from 2018 to 2017 . To add 5 max options to 2019 accelerated from 2027 options; to add 8 max options to 2020 accelerated from 2027 options . Based on current bookings and revenue trends, expect a modest increase in Q2 2016 RASM, year-over-year . Q2 economic fuel price per gallon is estimated to be in the $1.80 to $1.85 range . Annual 2016 economic fuel price per gallon is estimated to be in the $1.95 to $2.00 range .Sees modest increase in Q2 RASM, sees 5-6% increase in fy16 ASM, sees less than 2016’s Y-O-Y ASM growth in 2017,2018.  Full Article

Southwest Airlines May load factor 85.8 percent
Wednesday, 8 Jun 2016 06:30am EDT 

Southwest Airlines Co : May load factor 85.8 percent . May load factor up 1.4 pts . Available seat miles (asms) increased 4.6 percent to 12.6 billion in may 2016 , compared with may 2015 asms of 12.1 billion . Company continues to expect a modest increase in its q2 2016 operating revenue per asm (rasm) as compared with q2 2015 . May revenue passenger miles 10.86 billion, up 6.4 percent .Southwest airlines reports may traffic.  Full Article

Southwest applies to offer service between Los Angeles and 3 Mexico beaches
Wednesday, 1 Jun 2016 06:04pm EDT 

Southwest Airlines Co: Southwest Airlines files application to offer nonstop service between Los Angeles (LAX) and three Mexico beach destinations .Application requests extra-bilateral authority from dot to allow carrier to sell and serve new markets during an interim period.  Full Article

Southwest Airlines raises qtrly dividend by 33 pct to $0.10
Wednesday, 18 May 2016 11:12am EDT 

Southwest Airlines Co : Increased company's quarterly dividend by 33 percent and authorized a new $2 billion share repurchase program . Intends to repurchase an initial $500 million of Southwest common stock under an accelerated share repurchase program .Quarterly dividend will increase to $0.10 per share from $0.075 per share.  Full Article

Southwest Airlines Pilots' Association files suit against Chicago
Wednesday, 11 May 2016 07:44pm EDT 

Southwest Airlines Pilots' Association : Filed papers in u.s. District court after chicago midway international airport officials denied ad space . Southwest airlines pilot' association says disappointed by city and airport's decision .On wednesday, both sides made preliminary oral arguments regarding temporary order to place ad at midway.  Full Article

Southwest Airlines Co announces dividend
Thursday, 28 Jan 2016 11:15am EST 

Southwest Airlines Co:Declares quarterly dividend of $.075 per share to Shareholders of record at the close of business on March 3, 2016 on all shares then issued and outstanding.paid on March 24, 2016.  Full Article

Southwest Airlines Co - U.S. says Southwest Airlines to pay $2.8 mln to settle safety allegations - Reuters
Monday, 21 Dec 2015 04:33pm EST 

Southwest Airlines Co:Southwest Airlines Co LUV.N has agreed to pay $2.8 million to settle a lawsuit involving allegations that it violated U.S. Federal Aviation Administration safety regulations, the Justice Department said on Monday. - RTRS.The settlement requires operational changes by Southwest designed to enhance its oversight of third parties that perform maintenance on Southwest aircraft, the Justice Department said in a statement. - RTRS.In addition to the $2.8 million civil penalty, Southwest has agreed to pay up to $5.5 million in deferred civil penalties if it does not implement the settlement agreement, the statement said. - RTRS.  Full Article

BRIEF-Southwest Airlines CEO says will continue to evaluate 2017 growth plans - conf call

* CEO says "Hopefully after a day of recovery things will be back to normal tomorrow morning"