Southwest Airlines files proxy statement
Ticker: LUV · Form: DEFA14A · Filed: Sep 26, 2024 · CIK: 92380
Sentiment: neutral
Topics: proxy-statement, governance, sec-filing
Related Tickers: LUV
TL;DR
SW's proxy filing is out, shareholders vote soon.
AI Summary
Southwest Airlines Co. filed a DEFA14A on September 26, 2024, related to its corporate governance and shareholder matters. The filing is a definitive proxy statement, indicating it's used for soliciting shareholder votes for an upcoming meeting. Southwest Airlines, incorporated in Texas, is a scheduled air transportation company.
Why It Matters
This filing is crucial for shareholders as it outlines proposals and information necessary for them to make informed voting decisions at the company's shareholder meeting.
Risk Assessment
Risk Level: low — This is a routine regulatory filing (DEFA14A) and does not contain new material financial information or significant operational changes.
Key Players & Entities
- SOUTHWEST AIRLINES CO (company) — Filer
- Texas (location) — State of Incorporation
- 2702 LOVE FIELD DR (address) — Business Street Address
- P O BOX 36611 (address) — Business Mailing Address
- Dallas (location) — City
- 75235 (zip_code) — Business Zip Code
- 2147924000 (phone_number) — Business Phone Number
FAQ
What type of SEC filing is this?
This is a DEFA14A, a definitive proxy statement, filed on September 26, 2024.
What is the primary business of Southwest Airlines Co.?
Southwest Airlines Co. is engaged in scheduled air transportation, as indicated by its SIC code [4512].
In which state is Southwest Airlines Co. incorporated?
Southwest Airlines Co. is incorporated in Texas.
What is the company's principal executive office address?
The principal executive offices are located at 2702 Love Field Dr, Dallas, Texas, 75235.
What is the purpose of a DEFA14A filing?
A DEFA14A is used to solicit shareholder votes for an upcoming meeting, providing information on proposals and corporate matters.
Filing Stats: 2,614 words · 10 min read · ~9 pages · Grade level 13.1 · Accepted 2024-09-26 14:29:38
Key Financial Figures
- $1.00 — e on which registered Common Stock ($1.00 par value) LUV New York Stock Excha
- $2.5 billion — Directors (Board) has authorized a new $2.5 billion share repurchase program. In connection
- $2.50 — Economic fuel costs per gallon 1 (c) $2.50 to $2.60 $2.60 to $2.70 Fuel hedgin
- $2.60 — fuel costs per gallon 1 (c) $2.50 to $2.60 $2.60 to $2.70 Fuel hedging premium
- $2.70 — allon 1 (c) $2.50 to $2.60 $2.60 to $2.70 Fuel hedging premium expense per gall
- $0.07 — el hedging premium expense per gallon $0.07 No change Fuel hedging cash settlem
- $0.02 — ging cash settlement gains per gallon $0.02 $0.04 ASMs per gallons (fuel effici
- $0.04 — h settlement gains per gallon $0.02 $0.04 ASMs per gallons (fuel efficiency)
- $9 — Scheduled debt repayments (millions) ~$9 ~$7 Interest expense (millions) ~
- $7 — led debt repayments (millions) ~$9 ~$7 Interest expense (millions) ~$63
- $63 — ~$7 Interest expense (millions) ~$63 ~$62 2024 Estimation Previous est
- $62 — Interest expense (millions) ~$63 ~$62 2024 Estimation Previous estimation
- $2.80 — allon 1 (c) $2.60 to $2.70 $2.70 to $2.80 Fuel hedging premium expense per gall
- $0.03 — h settlement gains per gallon $0.02 $0.03 CASM-X (d), year-over-year 2 Up 7%
- $31 — Scheduled debt repayments (millions) ~$31 ~$29 Interest expense (millions)
Filing Documents
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- 0001193125-24-226817.txt ( ) — 25510KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits: 99.1 Southwest Airlines 2024 Investor Day Presentation. 99.2 Southwest Airlines Unveils Its Southwest. Even Better. Transformational Plan at Investor Day 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). Cautionary Statement Regarding Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to (i) the Companys financial outlook, goals, plans, expectations, and projected results of operations, including factors and assumptions underlying the Companys expectations and projections; (ii) the Companys plans and expectations with respect to capacity; (iii) the Companys expectations with respect to its fuel costs, premium expenses, hedging gains, fuel efficiency, and the Companys related management of risks associated with changing jet fuel prices, including factors underlying the Companys expectations; (iv) the Companys plans and expectations related to repayment of debt, interest expense, effective tax rate, and capital spending; and (v) the Companys fleet plans and expectations, including with respect to expected fleet deliveries and retirements, and including factors and assumptions underlying the Companys plans and expectations. These forward-looking statements are based on the Companys current estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) the impact of fears or actu
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. September 26, 2024 By: /s/ Tammy Romo Tammy Romo Executive Vice President & Chief Financial Officer (Principal Financial and Accounting Officer)