Company Overview

Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. Celebrating its 50th Anniversary in 2021, Southwest took flight in 1971 to democratize the sky through friendly, reliable, low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline1. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its more than 62,0002 People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among as many as 130 million Customers carried a year. That formula for success has brought industry-leading prosperity and 47 consecutive years3 of profitability for Southwest Shareholders (NYSE: LUV). Southwest continues to develop tangible steps toward an environmental sustainability goal of achieving carbon neutrality by 2050, including offering an opportunity for Customers to contribute toward helping Southwest offset its carbon emissions. For more information, please visit Southwest.com/wannaoffsetcarbon. Southwest leverages a unique legacy and mission to serve communities around the world including harnessing the power of its People and Purpose to put communities at the Heart of its success. Learn more at Southwest.com/citizenship.

Southwest has a long history of returning value to its Shareholders. Since 2010, Southwest has returned more than $12.9 billion to Shareholders through share repurchases and dividends, through March 31, 2020. In first quarter 2020, Southwest returned $639 million to Shareholders through the repurchase of $451 million in common stock and the payment of $188 million in dividends. Dividends and share repurchase programs are currently suspended due to the negative financial effects from the COVID-19 pandemic.

1) U.S. Dept. of Transportation most recent reporting of domestic originating passengers boarded
2) fulltime-equivalent active Employees
3) 1973-2019 annual profitability