Southwest Airls Co Stock Price, News & Analysis

Southwest Airlines (NYSE: LUV) has announced its 183rd quarterly dividend. The company's Board of Directors has declared a quarterly cash dividend of $0.18 per share. The dividend will be paid to shareholders of record as of December 26, 2024, with the payment scheduled for January 16, 2025.

Southwest Airlines (NYSE: LUV) announces that its Rapid Rewards Premier and Priority Credit Cards, issued by Chase, have been ranked #1 and #2 respectively in Customer Satisfaction among Co-Branded Airline Credit Cards in the J.D. Power 2024 U.S. Credit Card Customer Satisfaction Study. The Premier Card led in Account Management, Benefits, Terms, and Rewards Redeeming, while the Priority Card topped Rewards Earning. The study, conducted between June 2023-2024, surveyed 38,852 credit card customers. The cards offer benefits including unlimited Rapid Rewards points, double points on select purchases, and points counting toward Companion Pass qualification.

Southwest Airlines (NYSE: LUV) has announced significant changes to its Board leadership. Rakesh Gangwal has been appointed as independent Chair of the Board of Directors, along with new Committee Chairs appointments. The new chairs include Lisa Atherton (Compensation), Douglas Brooks (Audit), David Hess (Safety and Operations), Chris Reynolds (Nominating and Corporate Governance), and Gregg Saretsky (Finance). The new Board's primary focus will be working with CEO Bob Jordan to improve the airline's financial performance.

Southwest Airlines marks 17 years of its Medical Transportation Grant Program, which provides free round-trip air travel to patients and caregivers seeking medical care. In 2024, the airline donated 13,000 tickets, supporting 79 organizations across 26 states and 40 cities. The program has contributed over $56.6 million in air transportation since its inception.

The initiative aims to reduce financial barriers for patients requiring specialized medical care away from home. According to Laura Nieto, Managing Director Corporate Responsibility, the program recognizes travel as a important component of critical care needs and leverages Southwest's position to connect patients with life-saving medical facilities nationwide.

Southwest Airlines (NYSE: LUV) has extended its flight schedule through August 4, 2025, introducing new summer travel options. The airline is adding 13 new redeye flights, bringing the total to 33 overnight services from Hawaii and West Coast to various destinations. Starting June 5, 2025, new overnight routes will connect multiple cities including Honolulu, Lihue, and several West Coast locations to eastern destinations. The airline is also launching its first international service from Colorado Springs to Cancun starting June 14, 2025, and expanding several seasonal routes to daily service, connecting major cities like Austin, Baltimore, Dallas, and Denver to popular summer destinations.

Southwest Airlines (NYSE: LUV) has introduced new eco-friendly inflight items: a bamboo cup for cold beverages and a wood stir stick with the company's Heart branding. These changes are expected to reduce single-use plastics by more than 1.5 million pounds annually. The new cold cup is made from 93% non-plastic materials, combining bamboo and paper with a polyethylene lining. The company has also transitioned to paper overwrap for napkins and plans to introduce new snack offerings on Hawaii flights, which could reduce plastic packaging by 18,000 pounds annually. These initiatives are part of Southwest's Nonstop to Net Zero strategy and their goal to eliminate single-use plastics from inflight service by 2030.

Southwest Airlines announces significant board restructuring with six new independent directors effective November 1, 2024. Executive Chairman Gary Kelly will accelerate his retirement, becoming Chairman Emeritus. The appointments include David Cush, Sarah Feinberg, Dave Grissen, Gregg Saretsky, Patricia Watson, and Pierre Breber. The board will be reduced to 13 members by the 2025 Annual Shareholder Meeting. These changes come as part of Cooperation and Information Sharing Agreements with Elliott Investment Management. Gregg Saretsky will chair the refreshed Finance Committee, overseeing operational and strategic plans.

Southwest Airlines (LUV) reported third quarter 2024 financial results with net income of $67 million, or $0.11 per diluted share. The company achieved record third quarter operating revenues of $6.9 billion, a 5.3% increase year-over-year. Liquidity stands at $10.4 billion, exceeding debt of $8.0 billion. The company announced a $250 million accelerated share repurchase program under its $2.5 billion authorization. For Q4 2024, Southwest expects unit revenues to increase 3.5% to 5.5% year-over-year with capacity down ~4%. The company maintains strong operational performance while executing its 'Southwest. Even Better.' plan.

Southwest Airlines (NYSE: LUV) has announced it will host a live webcast to discuss its third quarter 2024 financial results on Thursday, October 24, 2024, at 12:30 PM Eastern Time. The presentation will feature key executives including President and CEO Bob Jordan, COO Andrew Watterson, and CFO Tammy Romo. Investors and interested parties can access the webcast through Southwest Airlines' investor relations website, with registration opening 20 minutes before the call.