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Southwest Airlines Co (LUV.N)

LUV.N on New York Stock Exchange

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23 Aug 2019
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Latest Key Developments (Source: Significant Developments)

Southwest Airlines - Extension Of Max Flight Schedule Adjustments Through Jan 5, 2020 To Remove Average Of Over 200 Weekday Flights From Schedule
Thursday, 22 Aug 2019 12:02pm EDT 

Aug 22 (Reuters) - Southwest Airlines::SOUTHWEST AIRLINES - EXTENSION OF MAX FLIGHT SCHEDULE ADJUSTMENTS THROUGH JAN 5, 2020 TO REMOVE AVERAGE OF OVER 200 WEEKDAY FLIGHTS FROM SCHEDULE.  Full Article

Southwest Airlines To Add New Service Daily Between Sacramento And Honolulu
Thursday, 15 Aug 2019 11:30am EDT 

Aug 15 (Reuters) - Southwest Airlines Co ::SOUTHWEST AIRLINES - TO ADD NEW SERVICE DAILY BETWEEN SACRAMENTO AND HONOLULU STARTING IN JAN. 2020.SOUTHWEST AIRLINES - TO ADD NEW SERVICE NONSTOP BETWEEN OAKLAND AND SAN JOSE, CALIFORNIA, TO LIHUE AND KONA STARTING IN JAN. 2020.SOUTHWEST AIRLINES - TO ADD NEW INTERISLAND SERVICE DAILY BETWEEN HONOLULU & LIHUE, HONOLULU & HILO AND KONA & KAHULUI, STARTING JAN. 2020.  Full Article

Southwest Airlines CEO Gary Kelly Says Intent Is To Continue With All-Boeing Fleet - CNBC Interview
Thursday, 25 Jul 2019 11:26am EDT 

July 25 (Reuters) - :SOUTHWEST AIRLINES CEO GARY KELLY SAYS INTENT IS TO CONTINUE WITH ALL-BOEING FLEET - CNBC INTERVIEW.SOUTHWEST AIRLINES CEO GARY KELLY SAYS BOEING 737 MAX SITUATION HURT RESULTS.SOUTHWEST AIRLINES CEO GARY KELLY SAYS IN ONGOING COMMUNICATION WITH BOEING.SOUTHWEST AIRLINES CEO GARY KELLY SAYS CO WILL BE ABLE TO RESTORE CONFIDENCE IN BOEING 737 MAX.  Full Article

Southwest Airlines Reports Q2 EPS of $1.37
Thursday, 25 Jul 2019 06:45am EDT 

July 25 (Reuters) - Southwest Airlines Co ::QTRLY EARNINGS PER SHARE $1.37; QTRLY OPERATING REVENUE $5.91 BILLION VERSUS $5.74 BILLION.QTRLY REVENUE PASSENGER MILES 34.92 BILLION VERSUS 35.27 BILLION; QTRLY AVAILABLE SEAT MILES 39.99 BILLION VERSUS 41.49 BILLION.QTRLY LOAD FACTOR 86.4% VERSUS 84.7%; QTRLY OPERATING REVENUE PER ASM ROSE 6.8%.QTRLY TOTAL OPERATING EXPENSES ROSE 3.6% TO $4.9 BILLION, EXCLUDING FUEL & OIL EXPENSE & SPECIAL ITEMS, QTRLY OPERATING EXPENSES ROSE 6.6%.QTRLY ECONOMIC FUEL COSTS WERE $2.13 PER GALLON VERSUS $2.21 PER GALLON.GROUNDING OF BOEING 737 MAX REDUCED OPERATING INCOME BY ABOUT $175 MILLION IN QUARTER.HAD PRELIMINARY DISCUSSIONS WITH BOEING REGARDING COMPENSATION FOR DAMAGES DUE TO GROUNDINGS.EXPECT UNIT COST PENALTIES FOR H2 2019 DUE TO MAX GROUNDINGS.TO PROACTIVELY EXTEND MAX-RELATED FLIGHT SCHEDULE ADJUSTMENTS THROUGH JAN 5, 2020.EXPECT FY 2019 ASMS TO NOW FALL IN 1% TO 2% RANGE; SEES 2019 CAPEX TO BE IN RANGE OF $1.2 BILLION TO $1.3 BILLION.SEES Q3 RASM TO INCREASE IN RANGE OF 3% TO 5%; SEES Q3 ASMS TO DECREASE IN 2% TO 3% RANGE.SEES Q3 2019 ECONOMIC FUEL COSTS IN RANGE OF $2.05 TO $2.15 PER GALLON.SEES Q3 2019 CASM, EXCLUDING FUEL AND OIL EXPENSE AND PROFIT SHARING EXPENSE TO INCREASE IN 9 TO 11 PERCENT RANGE.TO CEASE OPERATIONS AT NEWARK LIBERTY INTERNATIONAL AIRPORT, CONSOLIDATE NEW YORK PRESENCE AT NEW YORK LAGUARDIA AIRPORT, EFFECTIVE NOV 3.FINANCIAL RESULTS AT NEWARK HAVE BEEN BELOW EXPECTATIONS.  Full Article

Southwest Airlines Says Revising Flight Schedule To Remove All 737 MAX Flights Through Sept 2
Wednesday, 19 Jun 2019 06:32am EDT 

June 19 (Reuters) - Southwest Airlines Co ::SOUTHWEST AIRLINES - EXPECTS Q2 OPERATING CASM, EXCLUDING FUEL AND OIL EXPENSE AND PROFIT SHARING EXPENSE, TO INCREASE IN 11.5 TO 12.5 PERCENT RANGE.SOUTHWEST AIRLINES CO - EXPECTS ITS SECOND QUARTER 2019 YEAR-OVER-YEAR ASMS, OR CAPACITY, TO DECREASE APPROXIMATELY 3.5 PERCENT.SOUTHWEST AIRLINES CO - Q2 CAPACITY GUIDANCE REFLECTS THE IMPACT OF THE GROUNDING OF ALL 34 737 MAX 8 AIRCRAFT IN ITS FLEET THROUGH AUGUST 5.SOUTHWEST AIRLINES - REVISING ITS FLIGHT SCHEDULE TO REMOVE ALL MAX FLIGHTS THROUGH SEPTEMBER 2.SOUTHWEST AIRLINES - EXPECTS SECOND QUARTER OPERATING REVENUE PER AVAILABLE SEAT MILE TO INCREASE IN THE 6.5 TO 7.5 PERCENT RANGE.SOUTHWEST AIRLINES - CONTINUES TO EXPECT ITS SECOND QUARTER 2019 FUEL COSTS TO BE IN THE RANGE OF $2.10 TO $2.20 PER GALLON.SOUTHWEST AIRLINES - ESTIMATES SECOND QUARTER 2019 ASMS PER GALLON, OR FUEL EFFICIENCY, TO DECREASE IN THE 1 TO 2 PERCENT RANGE.SOUTHWEST AIRLINES - CONTINUED TO EXPERIENCE SOLID DEMAND AND STRONG PASSENGER YIELD TRENDS YEAR-OVER-YEAR DURING SECOND QUARTER 2019..SOUTHWEST AIRLINES - CUT Q2 ASMS PER GALLON GUIDANCE DUE TO REMOVAL OF FUEL-EFFICIENT AIRCRAFT FROM SCHEDULE AS RESULT OF GROUNDING OF 737 MAX 8.  Full Article

Southwest Airlines Authorizes New Share Repurchase, Increases Dividend
Wednesday, 15 May 2019 11:55am EDT 

May 15 (Reuters) - Southwest Airlines Co ::SOUTHWEST AIRLINES RETURNS VALUE TO SHAREHOLDERS.SOUTHWEST AIRLINES CO - AUTHORIZES NEW SHARE REPURCHASE PROGRAM.SOUTHWEST AIRLINES CO - INCREASES QUARTERLY DIVIDEND.SOUTHWEST AIRLINES CO - INCREASES QUARTERLY DIVIDEND.SOUTHWEST AIRLINES CO - QUARTERLY DIVIDEND WILL INCREASE TO $.18 PER SHARE.SOUTHWEST AIRLINES CO - $2.0 BILLION REPURCHASE AUTHORIZATION.SOUTHWEST AIRLINES CO - $2.0 BILLION SHARE REPURCHASE PROGRAM UPON COMPLETION OF REMAINING $400 MILLION UNDER MAY 2018 $2.0 BILLION SHARE REPURCHASE AUTHORIZATION.SOUTHWEST AIRLINES - ENTERED ADDITIONAL OPEN MARKET SHARE REPURCHASE PLAN FOR PURCHASE OF UP TO AN ADDITIONAL $50 MILLION OF ITS SHARES OF COMMON STOCK.SOUTHWEST AIRLINES CO - LONG-TERM FINANCIAL GOALS REMAIN UNCHANGED.  Full Article

Southwest Airlines Co Says CEO Gary Kelly's 2018 Total Compensation Was $7.7 Mln Versus $7.6 Mln In 2017
Friday, 5 Apr 2019 06:29am EDT 

April 5 (Reuters) - Southwest Airlines Co ::SOUTHWEST AIRLINES - RATIO OF TOTAL ANNUAL COMPENSATION OF CEO TO MEDIAN EMPLOYEE’S ANNUAL COMPENSATION WAS REASONABLY ESTIMATED TO BE 98.4 TO 1.SOUTHWEST AIRLINES CO - CHAIRMAN & CEO GARY C. KELLY'S 2018 TOTAL COMPENSATION WAS $7.7 MILLION VERSUS $7.6 MILLION IN 2017.  Full Article

Southwest Airlines Co Says Estimates Q1 2019 YOY Available Seat Mile Growth To Be About 1 Pct
Wednesday, 27 Mar 2019 06:53am EDT 

March 27 (Reuters) - Southwest Airlines Co ::SOUTHWEST AIRLINES CO - ESTIMATES ITS FIRST QUARTER 2019 YEAR-OVER-YEAR AVAILABLE SEAT MILE (ASM, OR CAPACITY) GROWTH TO BE APPROXIMATELY 1 PERCENT.SOUTHWEST AIRLINES - SINCE MID-FEBRUARY AND THROUGH MARCH 31, 2019, CURRENTLY EXPECTS CANCELLATIONS OF ABOUT 9,400 FLIGHTS DUE TO WEATHER, UNANTICIPATED EVENTS.SOUTHWEST AIRLINES CO - IN PROCESS OF TEMPORARILY RELOCATING ITS MAX AIRCRAFT TO A THIRD-PARTY FACILITY AND IMPLEMENTING AN ENHANCED STORAGE PROGRAM.SOUTHWEST AIRLINES - EXPECTS Q1 OPERATING REVENUE PER ASM TO INCREASE IN 2 TO 3 PERCENT RANGE, YEAR-OVER-YEAR.SOUTHWEST AIRLINES CO - DIFFICULT FOR THE COMPANY TO FORECAST THE IMPACT OF THE MAX GROUNDINGS BEYOND FIRST QUARTER 2019.SOUTHWEST AIRLINES-AS OF MARCH 13, HAD 41 REMAINING MAX DELIVERIES SCHEDULED IN 2019,221 FIRM ORDERS,115 OPTIONS, 3 ADDITIONAL DELIVERIES BEYOND 2019.SOUTHWEST AIRLINES - REDUCED PUBLISHED FLIGHT SCHEDULE THROUGH APRIL 20, 2019, CURRENTLY EVALUATING FUTURE SCHEDULE REDUCTIONS DUE TO 737 MAX 8 GROUNDING.SOUTHWEST AIRLINES - Q1 REVENUE TRENDS NEGATIVELY IMPACTED BY MORE WINTER WEATHER DISRUPTIONS THAN EXPECTED, MAX GROUNDINGS, AMONG OTHERS.SOUTHWEST AIRLINES - CONTINUES TO EXPECT STRONG YEAR-OVER-YEAR RASM PERFORMANCE IN SECOND QUARTER 2019, BASED ON CURRENT REVENUE TRENDS AND BOOKINGS.SOUTHWEST AIRLINES - EXPECTS Q1 2019 CASM, EXCLUDING FUEL AND OIL EXPENSE AND PROFITSHARING EXPENSE, TO INCREASE APPROXIMATELY 10 PERCENT.  Full Article

Southwest Airlines Says 737 Max Emergency Landing Was Not Related To Computer System Issues Under Scrutiny In Other Crashes
Tuesday, 26 Mar 2019 05:49pm EDT 

Southwest Airlines Co ::SOUTHWEST AIRLINES SAYS 737 MAX EMERGENCY LANDING WAS NOT RELATED TO COMPUTER SYSTEM ISSUES UNDER SCRUTINY IN OTHER CRASHES.  Full Article

Teamsters says Agreement With Southwest Includes Three Pct Annual Wage Increases
Tuesday, 26 Mar 2019 10:27am EDT 

March 26 (Reuters) - INTERNATIONAL BROTHERHOOD OF TEAMSTERS::AGREEMENT WITH SOUTHWEST INCLUDES THREE PERCENT ANNUAL WAGE INCREASES AND TOP OUT RATE OF $35 PER HOUR.AGREEMENT INCLUDES A GUARANTEE THAT SOUTHWEST WILL HIRE MORE MATERIAL SPECIALISTS.AGREEMENT WITH SOUTHWEST INCLUDES RATIFICATION BONUS EQUIVALENT TO 30 PERCENT OF EACH WORKER'S WAGES FOR LAST YEAR.  Full Article

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American, Southwest Airlines bump more passengers after 737 MAX grounding

WASHINGTON American Airlines Group Inc and Southwest Airlines Co are bumping thousands of passengers off airplanes after their Boeing 737 MAX fleet's was grounded in mid-March following two fatal crashes.