SOUTHWEST AIRLINES (LUV) Company Report

Extended booking window through September 2026 with an all-time high of 139 scheduled departures per peak day in San Diego during August–September 2026
Launching once-daily San Diego–Santa Barbara service on August 4, 2026, and doubling daily roundtrips to Portland, Salt Lake City, and Seattle, effective August 4, 2026
Introducing two California–Hawaii routes: Ontario–Honolulu on June 4, 2026, and Burbank–Honolulu on August 4, 2026
Resuming Long Beach service to Portland and Seattle (six days per week) beginning August 4, 2026

Nov 25, 2025, 6:15 PM

Press Release

Southwest Airlines completes $1.5B debt offering

LUV

Debt Issuance

On November 3, 2025, Southwest Airlines completed a public offering of $1.5 billion aggregate principal amount of senior notes, consisting of $750 million 4.375% Notes due 2028 and $750 million 5.250% Notes due 2035.
The 2028 Notes were priced at 99.951% of par (yield 4.392%, spread + 88 bps over the 3.500% UST due October 15, 2028) and the 2035 Notes at 99.774% of par (yield 5.279%, spread + 128 bps over the 4.250% UST due August 15, 2035).
Settlement occurred on November 3, 2025 (T+5), under an indenture dated February 6, 2024, with a syndicate led by BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan and Morgan Stanley.

Nov 3, 2025, 9:06 PM

8-K

Southwest Airlines prices $1.5 billion senior notes

LUV

Debt Issuance

$1.5 billion underwritten offering of senior notes, split into $750 million of 4.375% Notes due 2028 and $750 million of 5.250% Notes due 2035.
Closing expected Nov. 3, 2025; net proceeds to be used for general corporate purposes, including debt repayment.
Joint book-running managers: BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan, Morgan Stanley; Comerica as co-manager.

Oct 27, 2025, 9:53 PM

Press Release

Southwest Airlines partners with Hahnair to expand global ticketing reach

LUV

New Projects/Investments

Southwest Airlines has entered an interline agreement with Hahnair to provide ticketing access to 100,000 travel agencies across 190 markets outside the U.S., extending its distribution reach beyond the domestic network.
The partnership enables Southwest tickets to be sold in local currencies in regions where the airline does not operate, enhancing global visibility and consumer access.
Hahnair, a distribution provider with over 25 years of experience, connects more than 350 partner airlines with travel agencies via its HR-169, H1-Air, and X1-Air solutions.

Oct 27, 2025, 8:53 PM

Press Release

Southwest Airlines Outlines Strategic Transformation Initiatives at Consumer Conference

LUV

Product Launch

New Projects/Investments

Share Buyback

Southwest Airlines is executing strategic changes by launching a new basic economy fare and refining its baggage pricing to better drive customer buy‐up, with early data indicating positive impacts on customer satisfaction scores.
The company is leveraging AI-driven tools to enhance operational efficiency—such as predictive staffing and gate management systems—to reduce turn times and optimize flight operations.
Further initiatives include expanding connectivity through new flight and partnership opportunities, active fleet asset monetization, and a continued share repurchase program to uphold its investment-grade status.

Jun 4, 2025, 5:31 PM

Southwest Airlines warns card fee bill risks loyalty programs

LUV

Southwest Airlines, alongside United and American, warns the Durbin-Marshall amendment to the GENIUS Act could severely damage airline loyalty rewards and the broader aviation industry.
The amendment, supported by retailers, seeks to expand competition among card networks and lower swipe fees, projected to save merchants and consumers $15 billion annually.
Over 31 million Americans hold airline travel reward cards, which generated about $25 billion in economic activity in 2023, with 57% of all frequent flyer miles issued via these cards.
Airlines and unions caution that lost revenue from airline-branded credit cards could lead to fewer routes, flight cuts, halted aircraft purchases, and job losses.

Jun 2, 2025, 4:41 PM

CNBC

Southwest Airlines Highlights Strategic Initiatives and Consumer Trends

LUV

Revenue Acceleration/Inflection

Share Buyback

New Projects/Investments

Southwest observes evolving consumer behavior with a notably shorter booking curve and cautious spending due to economic uncertainty and tariff concerns.
The company projects a $4.3 billion incremental EBIT in 2026 driven by initiatives such as assigned seating, bag fees, improved revenue management, and cost efficiencies.
A strategic pivot is underway from its traditional open seating and free bag policy to enhanced cabin segmentation and upsell opportunities to meet changing consumer preferences.
Emphasis remains on maintaining an investment-grade balance sheet, strong operational execution, and exploring international market access, with share buybacks also highlighted.

May 30, 2025, 8:26 AM

Southwest Airlines Outlines Strategic Initiatives in Special Conference Call

LUV

Share Buyback

Revenue Acceleration/Inflection

Product Launch

Operational initiatives include launching Basic Economy with bag fees, enhanced seat assignments, and premium legroom services, targeting an incremental $1.8 billion EBIT contribution for this year.
Capacity management involves a conservative rollout plan of 1%-2% growth, 50 aircraft retirements, and targeted cost reductions to improve unit costs.
Revenue timing is emphasized with initiatives expected to ramp up later in the year and further into 2026, reflecting a phased approach to capturing value.
The company highlighted a strong balance sheet strategy and a planned $2.5 billion share buyback to be completed by July, underpinning its shareholder return framework.

May 22, 2025, 2:36 PM

Transcript

SOUTHWEST Airlines 8-K: Annual Meeting Vote Outcomes

LUV

Proxy Vote Outcomes

Auditor Change

Executive Compensation

Annual Meeting held on May 14, 2025, featured multiple shareholder votes regarding key corporate governance items.
Shareholders voted on the election of 13 directors for terms expiring at the 2026 Annual Meeting, with detailed vote counts provided.
Advisory votes were held on executive officer compensation and on a shareholder proposal to amend the clawback policy for unearned executive pay.
A proposal to ratify the selection of Ernst & Young LLP as the independent auditor for the fiscal year ending December 31, 2025 received strong support.

May 19, 2025, 12:00 AM

8-K

Southwest Airlines Q1 2025 Financial Results & Strategic Update

LUV

Earnings

Revenue Acceleration/Inflection

Demand Weakening

Guidance Update

Share Buyback

Reported a record operating revenue of $6.4 billion in Q1 2025, achieving improved yield performance and all-time record yields .
Posted a net loss of $149 million ($0.26 per share) with a net loss excluding special items of $77 million .
Maintained strong liquidity with $9.3 billion available versus $6.7 billion in debt .
Launched accelerated revenue management initiatives including dynamic reward pricing, basic economy fares, bag fees, the Expedia launch, and plans for extra legroom seating by Q3 2025 .
Enhanced cost discipline through nonfuel cost improvements (CASM-X at 4.6%) and proactive capacity adjustments amid a challenging macro environment .
Set guidance targets for an incremental EBIT contribution of $1.8B in 2025 and $4.3B in 2026, despite suspending full-year EBIT guidance .
Completed a $1.0B share repurchase with an additional $1.5B planned by the end of July 2025 .

Apr 24, 2025, 4:31 PM

Transcript Press Release 8-K

Earnings Transcripts

Quarterly earnings call transcripts for SOUTHWEST AIRLINES.

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