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)
SEC CIK
Corporate docs
Subsidiaries
AirTran Airways, Inc. • AirTran Holdings, LLC • Southwest Jet Fuel Co. • Triple Crown Assurance Co. ...
IRS number
741563240
LUV stock data
Analyst ratings and price targets
Latest filings (excl ownership)
8-K
Regulation FD Disclosure
14 Mar 23
8-K
Departure of Directors or Certain Officers
7 Feb 23
10-K
2022 FY
Annual report
6 Feb 23
8-K
Southwest Airlines Reports Fourth Quarter and Full Year 2022 Results
26 Jan 23
8-K
Results of Operations and Financial Condition
6 Jan 23
8-K
Regulation FD Disclosure
7 Dec 22
10-Q
2022 Q3
Quarterly report
28 Oct 22
8-K
Southwest Airlines Reports Third Quarter 2022 Results
27 Oct 22
8-K
Departure of Directors or Certain Officers
28 Sep 22
8-K
Regulation FD Disclosure
15 Sep 22
Transcripts
LUV
Earnings call transcript
2022 Q4
26 Jan 23
LUV
Earnings call transcript
2022 Q3
27 Oct 22
LUV
Earnings call transcript
2022 Q2
28 Jul 22
LUV
Earnings call transcript
2022 Q1
28 Apr 22
LUV
Earnings call transcript
2021 Q4
27 Jan 22
LUV
Earnings call transcript
2021 Q3
21 Oct 21
LUV
Earnings call transcript
2021 Q2
23 Jul 21
LUV
Earnings call transcript
2021 Q1
22 Apr 21
LUV
Earnings call transcript
2020 Q4
29 Jan 21
LUV
Earnings call transcript
2020 Q3
22 Oct 20
Latest ownership filings
Financial summary
Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
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) | 9.49 bn | 9.49 bn | 9.49 bn | 9.49 bn | 9.49 bn | 9.49 bn |
Cash burn (monthly) | 317.00 mm | 249.00 mm | 128.33 mm | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 873.44 mm | 686.08 mm | 353.60 mm | n/a | n/a | n/a |
Cash remaining | 8.62 bn | 8.81 bn | 9.14 bn | n/a | n/a | n/a |
Runway (months of cash) | 27.2 | 35.4 | 71.2 | n/a | n/a | n/a |
Institutional ownership, Q4 2022
75.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 901 |
Opened positions | 140 |
Closed positions | 101 |
Increased positions | 269 |
Reduced positions | 329 |
13F shares | Current |
---|---|
Total value | 15.08 tn |
Total shares | 447.46 mm |
Total puts | 9.10 mm |
Total calls | 7.83 mm |
Total put/call ratio | 1.2 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 65.58 mm | $2.21 tn |
Primecap Management | 52.20 mm | $1.76 tn |
STT State Street | 39.92 mm | $1.34 tn |
BLK Blackrock | 35.57 mm | $1.20 tn |
T. Rowe Price Investment Management | 18.21 mm | $619.36 bn |
T. Rowe Price | 15.75 mm | $535.51 bn |
AMP Ameriprise Financial | 12.40 mm | $417.38 bn |
Geode Capital Management | 11.89 mm | $404.40 bn |
Artisan Partners Limited Partnership | 11.01 mm | $370.72 bn |
Putnam Investments | 9.89 mm | $333.15 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
21 Feb 23 | Kelly Gary C | Common Stock | Payment of exercise | Dispose F | No | No | 33.76 | 22,800 | 769.73 k | 175,978 |
21 Feb 23 | Robert E Jordan | Common Stock | Payment of exercise | Dispose F | No | No | 33.76 | 11,932 | 402.82 k | 219,334 |
21 Feb 23 | Watterson Andrew M | Common Stock | Payment of exercise | Dispose F | No | No | 33.76 | 7,976 | 269.27 k | 77,672 |
21 Feb 23 | Ryan C. Green | Common Stock | Payment of exercise | Dispose F | No | No | 33.76 | 1,186 | 40.04 k | 31,297 |
21 Feb 23 | Romo Tammy | Common Stock | Payment of exercise | Dispose F | No | No | 33.76 | 9,359 | 315.96 k | 192,463 |
News
Benzinga's Top Ratings Upgrades, Downgrades For March 10, 2023
10 Mar 23
11 Analysts Have This to Say About Southwest Airlines
10 Mar 23
Barclays Downgrades Southwest Airlines to Equal-Weight, Lowers Price Target to $38
10 Mar 23
Southwest Airlines Taps Amazon Cloud Unit To Optimize Operations - What's On The Cards?
8 Mar 23
AWS Selected As Southwest Airlines' Preferred Cloud Provider
8 Mar 23
Press releases
SOUTHWEST AIRLINES BRINGS PRISM TO CORPORATE TRAVEL MANAGERS AND TRAVEL MANAGEMENT COMPANIES
21 Mar 23
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Southwest Airlines Co. - LUV
20 Mar 23
SOUTHWEST AIRLINES RANKED AMONG FORBES' BEST EMPLOYERS IN AMERICA
16 Mar 23
LIMITED TIME OFFER: SOUTHWEST AIRLINES ANNOUNCES RAPID REWARDS BOOKING OFFER, SAVING 20% OFF BASE FARES FOR SPRING TRAVEL
14 Mar 23
SOUTHWEST AIRLINES PLANS TO BOOST OPERATIONAL RESILIENCY TO ENHANCE SUPPORT FOR EMPLOYEES AND CUSTOMERS
14 Mar 23