Business
SOUTHWEST AIRLINES REPORTS FIRST QUARTER 2025 RESULTS
Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its first quarter 2025 financial results:
About this update from Southwest Airlines Company
[{"type":"text","content":"DALLAS, April 23, 2025 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its first quarter 2025 financial results:","length":156,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net loss of $149 million, or $0.26 loss per diluted share","length":57,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss, excluding special items1, of $77 million, or $0.13 loss per diluted share","length":83,"tagName":"p"}]},{"val":[{"type":"text","content":"Record first quarter operating revenues of $6.4 billion on all-time record yields","length":81,"tagName":"p"}]},{"val":[{"type":"text","content":"Liquidity2 of $9.3 billion, well in excess of debt outstanding of $6.7 billion","length":78,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":299,"olType":false},{"type":"text","content":"Bob Jordan, President, Chief Executive Officer, & Vice Chairman of the Board of Directors, stated, "While the broader economic environment has been dynamic, we remain focused on executing our transformational plan. On costs, we beat our previously adjusted guidance and are on track to achieve the increased cost reduction plan targets announced last month. We ran a stellar operation in first quarter, leading the industry in ontime performance and improving on almost every operating metric, year-over-year. We are seeing positive results on recently rolled out initiatives, including the launch of Expedia as a new distribution channel and the further optimization of our loyalty program. We expect to introduce basic economy and bag fees for most fare products next month and remain on track to begin selling assigned and extra legroom seats in third quarter 2025 for operation beginning in first quarter of next year.","length":936,"tagName":"p"},{"type":"text","content":""We are evolving at Southwest Airlines, more than ever before. The initiatives we have laid out are expected to improve our commercial offering and financial performance, providing value for both Customers and Shareholders. We remain well-positioned with and committed to a strong and efficient investment-grade balance sheet and have a valuable contractual order book with Boeing that offers flexibility. Looking ahead, we are confident in the initiatives we have outlined and the value we expect them to produce...