Earnings summaries and quarterly performance for SOUTHWEST AIRLINES.
Executive leadership at SOUTHWEST AIRLINES.
Bob Jordan
Detailed
President and Chief Executive Officer
CEO
AW
Andrew Watterson
Detailed
Chief Operating Officer
JN
Jeff Novota
Detailed
Senior Vice President, Chief Legal Officer & Corporate Secretary
RM
Ryan Martinez
Detailed
Senior Vice President, Finance & Controller (Principal Accounting Officer)
TD
Tom Doxey
Detailed
Executive Vice President & Chief Financial Officer
Board of directors at SOUTHWEST AIRLINES.
CR
Christopher Reynolds
Detailed
Director
DC
David Cush
Detailed
Director
DG
David Grissen
Detailed
Director
DH
David Hess
Detailed
Director
DB
Douglas Brooks
Detailed
Director
GS
Gregg Saretsky
Detailed
Director
LA
Lisa Atherton
Detailed
Director
PW
Patricia Watson
Detailed
Director
PB
Pierre Breber
Detailed
Director
RG
Rakesh Gangwal
Detailed
Independent Chair of the Board
RF
Robert Fornaro
Detailed
Director
SF
Sarah Feinberg
Detailed
Director
Research analysts who have asked questions during SOUTHWEST AIRLINES earnings calls.
CO
Catherine O'Brien
Goldman Sachs
4 questions for LUV
Also covers: AAL, AER, AL +7 more
Duane Pfennigwerth
Evercore ISI
4 questions for LUV
Also covers: AAL, ALGT, ALK +18 more
JB
Jamie Baker
JPMorgan Chase & Co.
4 questions for LUV
Also covers: AAL, AER, AL +6 more
SS
Savanthi Syth
Raymond James
4 questions for LUV
Also covers: AAL, ACHR, ALGT +15 more
AD
Andrew Didora
Bank of America
3 questions for LUV
Also covers: AAL, ALGT, ALK +8 more
Conor Cunningham
Melius Research
3 questions for LUV
Also covers: AAL, ABNB, ALGT +16 more
DM
Daniel McKenzie
Seaport Global Securities
3 questions for LUV
Also covers: AAL, ALGT, ALK +4 more
SG
Scott Group
Wolfe Research
3 questions for LUV
Also covers: AAL, ALGT, ALK +35 more
DV
David Vernon
Sanford C. Bernstein & Co., LLC
2 questions for LUV
Also covers: AAL, AUR, CNI +7 more
RS
Ravi Shanker
Morgan Stanley
2 questions for LUV
Also covers: AAL, ALGT, ALK +27 more
SK
Sheila Kahyaoglu
Jefferies
2 questions for LUV
Also covers: , AAL, BA +35 more
TF
Thomas Fitzgerald
TD Cowen
2 questions for LUV
Also covers: AAL, ALGT, ALK +8 more
BO
Brandon Oglenski
Barclays
1 question for LUV
Also covers: AAL, ALGT, ALK +20 more
Chris Stathoulopoulos
Susquehanna
1 question for LUV
Also covers: AER, CAR, CCL +1 more
Christopher Stathoulopoulos
Susquehanna Financial Group
1 question for LUV
Also covers: AER, ALGT, ALK +8 more
HC
Hillary Cacanando
Not Mentioned in Transcript
1 question for LUV
Also covers: AER, AL, FTAI +2 more
ML
Michael Linenberg
Deutsche Bank
1 question for LUV
Also covers: AAL, ALGT, ALK +12 more
ML
Mike Lindenberg
Deutsche Bank
1 question for LUV
Also covers: DAL, LTM, SAVE +1 more
SS
Savi Syth
Raymond James
1 question for LUV
Also covers: JBLU, JOBY, MESA +2 more
Stephen Trent
Citigroup Inc.
1 question for LUV
Also covers: AAL, AER, AL +14 more
TW
Tom Wadewitz
UBS Group
1 question for LUV
Also covers: ARCB, CHRW, CNI +19 more
Recent press releases and 8-K filings for LUV.
Southwest Airlines partners with Turkish Airlines for transatlantic travel
LUV
New Projects/Investments
- Southwest Airlines will partner with Turkish Airlines to launch one-ticket transatlantic journeys between the U.S. and Istanbul in early 2026.
- The alliance connects 10 U.S. gateway airports served by Southwest to Turkish Airlines’ network of over 350 global destinations via Istanbul.
- Tickets for these seamless itineraries will be sold next year through Turkish Airlines, travel agents, and travel websites.
- Beginning January 27, 2026, Southwest will roll out a redesigned cabin experience and offer assigned and extra-legroom seating on its flights.
7 days ago
Southwest Airlines plans airport lounge network expansion
LUV
New Projects/Investments
- Southwest is shifting from its low-cost model by developing an airport lounge network, with approval for its first lounge at Honolulu’s Daniel K. Inouye International Airport.
- The $20 million minimum improvement requirement over five years underscores Southwest’s financial commitment to the lounge project.
- Targeted access will focus on premium Chase card members and high-tier Rapid Rewards flyers, aligning with competitors like Delta and United.
- As part of its “premiumization” strategy, Southwest ended its ‘two bags fly free’ policy and began charging for checked bags in 2024.
- The lounge initiative may drive stock growth opportunities by capturing the luxury travel segment.
Dec 10, 2025, 6:07 PM
Southwest expands late summer 2026 schedule with new California and Hawaii routes
LUV
New Projects/Investments
- 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
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
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
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
Southwest Airlines outlines transformation and financial priorities
LUV
Share Buyback
New Projects/Investments
- Southwest has completed key transformation initiatives—bag fees, Basic Economy, cost cuts—and will launch assigned seating on January 27; bag fees generated $350 million in 2025 YTD on a $1 billion run rate.
- Operational reliability has improved, as reflected by a #1 ranking in the Wall Street Journal’s composite on-time performance index after recent technology and infrastructure investments.
- The carrier expanded interline partnerships with Icelandair, China Airlines, and EVA Air and is exploring Southwest-operated long-haul international service with premium cabins and lounges.
- Capital return program: completed a $2.5 billion share buyback by Q3 and secured board authorization for $2 billion over two years; maintains debt/EBITDA of 1–2.5× and a $4.5 billion cash target.
- Capacity growth guidance of 1–2% annually remains in place until returns meet targets, reflecting Boeing delivery constraints and a small Q4 lift from extra-legroom seat retrofits.
Sep 11, 2025, 4:15 PM
Southwest Airlines outlines transformative initiatives and growth strategy
LUV
New Projects/Investments
Share Buyback
Layoffs
- Transformation milestones completed: Executed suite of initiatives including bag fees (projected $350 million contribution in 2025, $1 billion run-rate) and basic economy; assigned seating launch set for January 27, 2026.
- Operational excellence: Ranked #1 in The Wall Street Journal’s 2025 U.S. airline reliability index following a 15% corporate overhead layoff to streamline decision-making.
- Financial outlook on track: 4Q guidance implies ~2 points of sequential RASM improvement driven by cost initiatives, bag fees, Rapid Rewards adjustments, and anticipated macro inflection; full-year EBIT guide remains intact.
- Modest capacity growth: Committed to 1–2% annual capacity increases until returns meet targets, constrained by Boeing delivery schedules; extra-legroom retrofits to add capacity in 4Q with minimal seat loss impact.
- Financial discipline: Unwound fuel hedges due to ~$150 million annual hedging cost; maintaining debt/EBITDA guardrails of 1–2.5×, a $4.5 billion cash target, and a new $2 billion share buyback authorization over two years.
Sep 11, 2025, 4:15 PM
Southwest Airlines outlines transformation plan and outlook at Laguna Conference
LUV
Guidance Update
Share Buyback
New Projects/Investments
- Southwest completed 11 transformation initiatives including assigned seating, extra-leg room, bag fees, Basic Economy and Rapid Rewards changes, delivering $350 million in bag fee revenue in 2025 with a $1 billion run rate and expecting $4.3 billion EBIT contribution in 2026.
- The airline achieved #1 operational ranking in the Wall Street Journal composite on on-time performance, cancellations, delays and bag mishandling, reflecting significant agility improvements after corporate restructurings and a 15% cut in overhead.
- Domestic demand stabilized with an inflection in July, guiding full-year EBIT on track without requiring a major macro recovery, as only ~2 pp of RASM improvement is needed from sector and economic factors for Q4.
- Southwest plans 1–2% capacity growth through 2025, constrained by Boeing delivery timing and return targets; exploring long-haul international via partnerships with Icelandair, China Airlines and EVA and assessing narrowbody options for direct service.
- Completed $2.5 billion share buyback in Q3, authorized $2 billion over two years, unwound fuel hedges due to prohibitive cost, and maintains debt/EBITDA guardrails of 1–2.5× with $4.5 billion liquidity.
Sep 11, 2025, 4:15 PM
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
Quarterly earnings call transcripts for SOUTHWEST AIRLINES.
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