In its 50th year of service, Dallas-based Southwest Airlines Co. continues to differentiate itself from other air carriers with exemplary Customer Service to a Customer base topping 130 million passengers in 2019. Southwest became the nation's largest domestic air carrier in 2003 and maintains that ranking based on the U.S. Department of Transportation's most recent reporting of domestic originating passengers boarded. In peak travel seasons during 2019, Southwest operated more than 4,000 weekday departures among a network of 101 destinations in the United States and 10 additional countries. In early 2020, the carrier added service to Hilo, Hawaii, and Cozumel, Mexico. Southwest began service to Palm Springs, Calif. and Miami on Nov. 15, and will begin service to two new seasonal destinations in Colorado, Steamboat Springs and Montrose (Telluride and Crested Butte) on Dec. 19, 2020. On Feb. 14, 2021, Southwest will begin service to Chicago (O'Hare) and Sarasota/Bradenton. Service from Savanah, Georgia and Colorado Springs will begin on March 11, 2021, and operations from Houston (George Bush Intercontinental) and Jackson, Miss. are anticipated to begin in the first half of 2021.
The carrier issued its Southwest® Promise in May 2020 to highlight new and round-the-clock efforts to support its Customers and Employees wellbeing and comfort. Among the changes are enhanced cleaning efforts at airports and onboard aircraft, and face covering requirements for Customers and Employees. Additional details about the Southwest Promise are available at Southwest.com/Promise.
Southwest coined Transfarency® to describe its purposed philosophy of treating Customers honestly and fairly, and low fares actually staying low. Southwest is the only major U.S. airline to offer bags fly free® to everyone (first and second checked pieces of luggage, size and weight limits apply, some carriers offer free checked bags on select routes or in qualified circumstances). Southwest does not charge change fees, though fare differences might apply.
Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. Learn more about how the carrier gives back to communities across the world by visiting Southwest.com/citizenship.
Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.

Company profile
Ticker
LUV
Exchange
Website
CEO
Gary Kelly
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Delta Air Lines • United Airlines • United Airlines • American Airlines • Jetblue Airways • Alaska Air • Frontier • Skywest • Hawaiian • Mesa Air ...
SEC CIK
Corporate docs
Subsidiaries
AirTran Airways 717 Leasing Corporation • AirTran Airways, Inc. • AirTran Holdings, LLC • Southwest Jet Fuel Co. • Triple Crown Assurance Co. ...
IRS number
741563240
LUV stock data
News

Expert Ratings for Southwest Airlines
23 Jun 22
Raymond James Turns Bullish On Southwest Airlines
23 Jun 22
Why Raymond James Upgrades Southwest And Frontier, Downgrades Another Airline Stock
23 Jun 22
Benzinga's Top Ratings Upgrades, Downgrades For June 23, 2022
23 Jun 22
Raymond James Upgrades Southwest Airlines to Strong Buy, Lowers Price Target to $55
23 Jun 22
Press releases
Southwest Airlines Extends Flight Schedule Through Jan. 4, 2023
17 Jun 22
SOUTHWEST AIRLINES EXTENDS FLIGHT SCHEDULE THROUGH JAN. 4, 2023
16 Jun 22
SOUTHWEST AIRLINES RELEASES ONE-OF-A-KIND LEADERSHIP BOOK, "LEADING WITH HEART: LIVING & WORKING THE SOUTHWEST WAY" CELEBRATING MORE THAN 50 YEARS OF PUTTING PEOPLE FIRST
13 Jun 22
SOUTHWEST AIRLINES CELEBRATES 51ST BIRTHDAY AND WANNA GET AWAY DAY WITH WEEK-LONG SWEEPSTAKES
12 Jun 22
SOUTHWEST AIRLINES ANNOUNCES THREE-DAY FARE SALE OFFERING 40% OFF BASE FARES!
7 Jun 22
Analyst ratings and price targets
Current price
Average target
$54.80
Low target
$49.00
High target
$67.00
Raymond James
Upgraded
$55.00
Barclays
Maintains
$50.00
Citigroup
Maintains
$53.00
MKM Partners
Maintains
$49.00
Morgan Stanley
Maintains
$67.00
Calendar
2 May 22
26 Jun 22
31 Dec 22
Financial summary
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Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 13.1B | 13.1B | 13.1B | 13.1B | 13.1B | 13.1B |
Cash burn (monthly) | (no burn) | (no burn) | 125.33M | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | n/a | n/a | 359.6M | n/a | n/a | n/a |
Cash remaining | n/a | n/a | 12.74B | n/a | n/a | n/a |
Runway (months of cash) | n/a | n/a | 101.6 | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
27 May 22 | Montford John T | Common Stock | Sell | Dispose S | No | No | 45.695 | 2,300 | 105.1K | 23,296 |
18 May 22 | Biegler David W | Common Stock | Grant | Acquire A | No | No | 0 | 3,844 | 0 | 23,310 |
18 May 22 | Biggins J Veronica | Common Stock | Grant | Acquire A | No | No | 0 | 3,844 | 0 | 54,576 |
18 May 22 | Brooks Douglas H | Common Stock | Grant | Acquire A | No | No | 0 | 3,844 | 0 | 64,076 |
Institutional ownership, Q1 2022
76.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 976 |
Opened positions | 119 |
Closed positions | 114 |
Increased positions | 332 |
Reduced positions | 330 |
13F shares | Current |
---|---|
Total value | 20.68B |
Total shares | 451.6M |
Total puts | 9.01M |
Total calls | 10.36M |
Total put/call ratio | 0.9 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 63.03M | $2.89B |
Primecap Management | 53.55M | $2.45B |
STT State Street | 40.76M | $1.87B |
BLK Blackrock | 32.59M | $1.49B |
TROW T. Rowe Price | 28.39M | $1.3B |
AMP Ameriprise Financial | 16.33M | $748.11M |
FMR | 16.06M | $735.61M |
Artisan Partners Limited Partnership | 11.81M | $541.11M |
Geode Capital Management | 11.1M | $507.67M |
JPM JPMorgan Chase & Co. | 10.51M | $481.57M |
Financial report summary
?Competition
Delta Air Lines • United Airlines • Alaska Air • Hawaiian • Allegiant Travel • Spirit Airlines • Controladora Vuela Cia De Aviacion • Frontier • Sun Country AirlinesManagement Discussion
- Passenger revenues for 2021 increased by $6.4 billion, or 83.5 percent, compared with 2020. On a unit basis, Passenger revenues increased 43.9 percent, year-over-year. The increase in Passenger revenues on both a dollar and unit basis were primarily due to the improvements in leisure Passenger demand and bookings in 2021, compared with the severe decline in demand and bookings resulting from the COVID-19 pandemic for the majority of 2020.
- Freight revenues for 2021 increased by $26 million, or 16.1 percent, compared with 2020, primarily due to increased demand for consumer goods.
- Other revenues for 2021 increased by $315 million, or 25.8 percent, compared with 2020. The increase was primarily due to an increase in income from business partners, including Chase Bank USA, N.A. ("Chase"). The improving economy throughout 2021 and rebound in travel demand resulted in higher spend on the Company's co-branded credit card, as well as additional revenues earned through the Company's rental car and hotel partners.
Content analysis
?Positive | ||
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Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
|
New words:
agency, alter, assumption, boosted, brought, buffer, busy, campaign, car, challenging, chosen, coincided, coinciding, commitment, companion, confirmed, conservation, constitute, contemplated, deduction, deeper, DEI, depth, disallowed, disposition, dive, earned, earning, ESG, excellent, focusing, foreign, forward, fulfilling, gas, greenhouse, hotel, hourly, IAM, impairment, imposing, improper, instability, intermittent, investor, issuable, length, life, mandate, matter, membership, muted, navigate, notify, Omicron, oriented, outperforming, pair, path, piece, policy, political, property, pursuit, recycling, reopen, requisition, resolution, reusable, revived, run, salvage, shift, shifted, shifting, social, sought, standby, stricken, suboptimal, talent, transfer, Transferable, TWU, union, venue, view, Wanna, waste, water, worse
Removed:
accrual, added, adjusting, allocation, anniversary, Assuming, baggage, Barbara, begun, benchmark, Bradenton, brand, bus, Bush, canceled, cardholder, Chicago, clerical, Colorado, commencement, commissioning, confidence, consistent, consisting, constrained, constructed, correction, coupon, customary, daily, default, delayed, delivered, design, dictated, disbursement, discontinued, Disease, easier, equal, estimation, excise, executed, exercisable, expire, exposed, extending, extension, favorable, frozen, gate, George, greater, grounded, Head, highest, history, Houston, idle, illustrate, improve, intended, Intercontinental, issue, lag, LAWA, leveraging, licensing, live, Los, lowered, mandatory, map, margin, maturity, Member, Mississippi, mitigate, modify, Municipal, offer, office, onset, operated, Overnight, oversaw, payout, penalty, permitted, piggyback, popular, positioning, preliminary, prepay, Prevention, pursuing, receive, reclassify, refund, refunded, replacement, repurchased, resource, resuming, Santa, Sarasota, satisfaction, screening, segment, sensitivity, settling, SOFR, subsequently, substantially, supplement, taxing, team, ticketing, training, transparency, undelivered, underwritten, unprecedented, variable, voting, Wiley
Financial reports
Current reports
8-K
Regulation FD Disclosure
21 Jun 22
8-K
Regulation FD Disclosure
26 May 22
8-K
Submission of Matters to a Vote of Security Holders
20 May 22
8-K
Southwest Airlines Reports First Quarter 2022 Results
28 Apr 22
8-K
Regulation FD Disclosure
15 Mar 22
8-K/A
Departure of Directors or Certain Officers
7 Feb 22
8-K
Southwest Airlines Reports Fourth Quarter Profit and Full Year Results
27 Jan 22
8-K
Regulation FD Disclosure
8 Dec 21
8-K
Departure of Directors or Certain Officers
22 Nov 21
8-K
Southwest Reports Third Quarter 2021 Results
21 Oct 21
Registration and prospectus
S-3ASR
Automatic shelf registration
8 Feb 21
S-3ASR
Automatic shelf registration
17 Aug 20
424B5
Prospectus supplement for primary offering
29 Jul 20
FWP
Free writing prospectus
28 Jul 20
424B5
Prospectus supplement for primary offering
28 Jul 20
424B5
Prospectus supplement for primary offering
5 Jun 20
FWP
Free writing prospectus
3 Jun 20
424B5
Prospectus supplement for primary offering
3 Jun 20
424B5
Prospectus supplement for primary offering
1 May 20
424B5
Prospectus supplement for primary offering
30 Apr 20
Other
UPLOAD
Letter from SEC
10 Jan 21
CORRESP
Correspondence with SEC
3 Jan 21
UPLOAD
Letter from SEC
22 Dec 20
CT ORDER
Confidential treatment order
7 Mar 19
UPLOAD
Letter from SEC
27 Aug 18
CORRESP
Correspondence with SEC
7 Aug 18
UPLOAD
Letter from SEC
25 Jul 18
CT ORDER
Confidential treatment order
24 May 18
CT ORDER
Confidential treatment order
14 Mar 18
CT ORDER
Confidential treatment order
29 Nov 17
Ownership
4
SOUTHWEST AIRLINES / JOHN T MONTFORD ownership change
1 Jun 22
4
SOUTHWEST AIRLINES / RON RICKS ownership change
20 May 22
4
SOUTHWEST AIRLINES / Christopher P. Reynolds ownership change
20 May 22
4
SOUTHWEST AIRLINES / JOHN T MONTFORD ownership change
20 May 22
4
SOUTHWEST AIRLINES / NANCY B LOEFFLER ownership change
20 May 22
4
SOUTHWEST AIRLINES / David P Hess ownership change
20 May 22
4
SOUTHWEST AIRLINES / Thomas W. Gilligan ownership change
20 May 22
4
SOUTHWEST AIRLINES / JOHN G DENISON ownership change
20 May 22
4
SOUTHWEST AIRLINES / WILLIAM H DR CUNNINGHAM ownership change
20 May 22
4
SOUTHWEST AIRLINES / DOUGLAS H BROOKS ownership change
20 May 22
Patents
Utility
Detection system
21 Sep 21
A method for detecting objects in traffic flow includes identifying a location of a first camera and a second camera.
Utility
Provisioning cart for on-aircraft restocking
16 Dec 19
A cart for restocking provisions includes a body having one or more exterior surfaces.
Utility
Detection System
11 Dec 19
A method for detecting objects in traffic flow includes identifying a location of a first camera and a second camera.
Transcripts
2022 Q1
Earnings call transcript
28 Apr 22
2021 Q4
Earnings call transcript
27 Jan 22
2021 Q3
Earnings call transcript
21 Oct 21
2021 Q2
Earnings call transcript
23 Jul 21
2021 Q1
Earnings call transcript
22 Apr 21
2020 Q4
Earnings call transcript
29 Jan 21
2020 Q3
Earnings call transcript
22 Oct 20
2020 Q2
Earnings call transcript
24 Jul 20
2020 Q1
Earnings call transcript
28 Apr 20
2019 Q4
Earnings call transcript
23 Jan 20
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