Southwest Airlines Files 8-K Investor Update
Ticker: LUV · Form: 8-K · Filed: Dec 5, 2024 · CIK: 92380
| Field | Detail |
|---|---|
| Company | Southwest Airlines CO (LUV) |
| Form Type | 8-K |
| Filed Date | Dec 5, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 8 min |
| Key Dollar Amounts | $1.00, $2.35, $2.45, $2.25, $0.07 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-K, investor-relations, disclosure
Related Tickers: LUV
TL;DR
SW Update: Routine 8-K filed Dec 5. No major news.
AI Summary
Southwest Airlines Co. filed an 8-K on December 5, 2024, to provide an investor update. The filing does not contain specific financial figures or significant operational changes but serves as a routine disclosure.
Why It Matters
This filing indicates Southwest Airlines is providing standard corporate communications to investors, which is a normal part of SEC compliance.
Risk Assessment
Risk Level: low — The filing is a standard 8-K disclosure without any material adverse information or significant changes.
Key Players & Entities
- SOUTHWEST AIRLINES CO (company) — Filer
- Texas (state) — State of incorporation
- Dallas (city) — Principal executive offices location
- December 5, 2024 (date) — Date of report
FAQ
What is the purpose of this 8-K filing?
This 8-K filing serves as a current report by Southwest Airlines Co. to provide an investor update as of December 5, 2024.
What is the date of the earliest event reported?
The earliest event reported in this filing is dated December 5, 2024.
What is Southwest Airlines' state of incorporation?
Southwest Airlines Co. is incorporated in Texas.
What is the principal executive office address for Southwest Airlines?
The principal executive offices are located at P. O. Box 36611, Dallas, Texas 75235-1611.
Does this filing indicate any specific financial results or operational changes?
The provided text of the filing does not detail specific financial results or operational changes; it is presented as an investor update.
Filing Stats: 1,930 words · 8 min read · ~6 pages · Grade level 15.9 · Accepted 2024-12-05 06:31:14
Key Financial Figures
- $1.00 — ange on which registered Common Stock ($1.00 par value) LUV New York Stock Exchange
- $2.35 — Economic fuel costs per gallon 1 (c) $2.35 to $2.45 $2.25 to $2.35 Fuel hedging p
- $2.45 — c fuel costs per gallon 1 (c) $2.35 to $2.45 $2.25 to $2.35 Fuel hedging premium ex
- $2.25 — costs per gallon 1 (c) $2.35 to $2.45 $2.25 to $2.35 Fuel hedging premium expense
- $0.07 — Fuel hedging premium expense per gallon $0.07 No change Fuel hedging cash settlement
- $0.01 — edging cash settlement gains per gallon $0.01 No change ASMs per gallon (fuel effici
- $5 — heduled debt repayments (e) (millions) ~$5 No change Interest expense (millions)
- $62 — No change Interest expense (millions) ~$62 No change Aircraft (f) 797 796 (a) O
- $1.3 billion — cludes the Company's plan to redeem its $1.3 billion 5.25% Notes due 2025 in December 2024.
- $750 million — rrently intends to launch an additional $750 million accelerated share repurchase ("ASR") pr
- $250 million — r 2025, following the completion of the $250 million ASR announced in October 2024. Subseque
- $1.5 billion — lion ASR program, the Company will have $1.5 billion remaining under its $2.5 billion share
- $2.5 billion — l have $1.5 billion remaining under its $2.5 billion share repurchase program authorized by
Filing Documents
- luv-20241205.htm (8-K) — 49KB
- luv-20241205_g1.jpg (GRAPHIC) — 155KB
- 0000092380-24-000174.txt ( ) — 519KB
- luv-20241205.xsd (EX-101.SCH) — 2KB
- luv-20241205_lab.xml (EX-101.LAB) — 21KB
- luv-20241205_pre.xml (EX-101.PRE) — 12KB
- luv-20241205_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. Southwest Airlines Co. (the "Company") is providing updated guidance regarding selected financial trends. The following table presents updated selected financial guidance for fourth quarter 2024. These projections are based on current booking trends and the Company's current outlook, and actual results could differ materially. 4Q 2024 Estimation Previous estimation RASM (a), year-over-year Up 5.5% to 7.0% Up 3.5% to 5.5% ASMs (b), year-over-year Down ~4% No change Economic fuel costs per gallon 1 (c) $2.35 to $2.45 $2.25 to $2.35 Fuel hedging premium expense per gallon $0.07 No change Fuel hedging cash settlement gains per gallon $0.01 No change ASMs per gallon (fuel efficiency) 81 to 82 No change CASM-X (d), year-over-year 2,3 Up 11% to 13% No change Scheduled debt repayments (e) (millions) ~$5 No change Interest expense (millions) ~$62 No change Aircraft (f) 797 796 (a) Operating revenue per available seat mile ("RASM" or "unit revenues"). (b) Available seat miles ("ASMs" or "capacity"). The Company's flight schedule is published for sale through August 4, 2025. The Company continues to expect first quarter 2025 capacity to decrease in the range of 1 percent to 3 percent, year-over-year. (c) Based on the Company's existing fuel derivative contracts and market prices as of December 3, 2024. (d) Operating expenses per available seat mile, excluding fuel and oil expense, special items, and profitsharing ("CASM-X"). (e) Excludes the Company's plan to redeem its $1.3 billion 5.25% Notes due 2025 in December 2024. (f) Aircraft on property, end of period. The Company continues to plan for approximately 20 Boeing 737-8 ("-8") aircraft deliveries and now expects 40 aircraft retirements in 2024, comprised of 36 Boeing 737-700s ("-700") and four Boeing 737-800s ("-800"). The Company now expects fourth quarter 2024 unit revenues to increase in the range of 5.5 percent to 7.0 percent on a year-over-year basis, with ca
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SOUTHWEST AIRLINES CO. December 5, 2024 By: /s/ Tammy Romo Tammy Romo Executive Vice President & Chief Financial Officer (Principal Financial and Accounting Officer)