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Found inside – Page 7Multidisciplinary Academic Conference [10] Southwest Airline Annual Report. (2016) Annual Report. Retrieved April 18 from http://investors.southwest.com/~/media/Files/S/SouthwestIR/Annual%20Reports/2016_AnnualReport_LUV. Walmart Annual Reports Download $ 9.99 $ 4.99 . NOTE REGARDING USE OF NON-GAAP FINANCIAL MEASURES. Southwest Airlines Reports Fourth Quarter And Annual 2020 ... Found inside – Page 260Sometimes they hedge little or none of their exposure ; at other times they hedge much more ( see Table 13.1 for a description of the fuel hedging at some of the world's largest airlines based on thier annual reports ) . Southwest ... Utilizing an alternative cash burn approach, which adjusts for changes in working capital—including changes in Air traffic liability and cash payments for voluntary separation and extended emergency time off program payments, among other items—the Company's average daily core cash burn was approximately $18 million in December 2020 and approximately $15 million in fourth quarter 2020. DALLAS - Southwest Airlines Co. (NYSE: LUV) today announced a series of near-term goals, actions, and initiatives in support of a 10-year plan to maintain carbon neutrality to 2019 levels while continuing to grow its operations.. The airline industry was hit especially hard in 2020, and we incurred our first annual net loss since 1972. The Company has also utilized and provided average cash burn and average daily core cash burn, which are non-GAAP financial measures. Also referred to as "passenger unit revenues," this is a measure of passenger revenue production based on the total available seat miles flown during a particular period. See Note Regarding Use of Non-GAAP Financial Measures. Reports | Alaska Airlines Sustainability Condensed Consolidated Statement of Income (Loss), Payroll support and voluntary Employee programs, net, Reconciliation of Reported Amounts to Non-GAAP Items (excluding special items), (See Note Regarding Use of Non-GAAP Financial Measures), (in millions, except per share amounts) (unaudited), Add: Premium cost of fuel contracts designated as hedges, Deduct: Fuel hedge gains included in Fuel and oil expense, net, Add: Contracts settling in the current period, but for which losses were reclassified from AOCI, Add: Premium cost of fuel contracts not designated as hedges, Fuel and oil expense, excluding special items (economic), Add: Payroll support and voluntary Employee programs, net, Add: Gain from aircraft sale-leaseback transactions, Total operating expenses, excluding special items, Deduct: Fuel and oil expense, excluding special items (economic), Operating expenses, excluding Fuel and oil expense and special items, Operating expenses, excluding Fuel and oil expense, special items, and profitsharing, Deduct: Payroll support and voluntary Employee programs, net, Deduct: Contracts settling in the current period, but for which losses were reclassified from AOCI, Deduct: Premium cost of fuel contracts not designated as hedges, Deduct: Gain from aircraft sale-leaseback transactions, Operating income (loss), excluding special items, Deduct: Mark-to-market impact from fuel contracts settling in current and future periods, Deduct: Mark-to-market impact from interest rate swap agreements, Deduct: Post-retirement curtailment charge, Other (gains) losses, net, excluding special items, Income (loss) before income taxes, as reported, Add: Mark-to-market impact from fuel contracts settling in current and future periods, Add: Mark-to-market impact from interest rate swap agreements, Income (loss) before income taxes, excluding special items, Provision (benefit) for income taxes, as reported, Add (Deduct): Net income (loss) tax impact of fuel and special items, excluding GAAP to Non-GAAP tax rate difference (a), Deduct: GAAP to Non-GAAP tax rate difference (b), Provision (benefit) for income taxes, net, excluding special items, Add (Deduct): Net income (loss) tax impact of special items, excluding GAAP to Non-GAAP tax rate difference (a), Add: GAAP to Non-GAAP tax rate difference (b), Net income (loss), excluding special items, Net income (loss) per share, diluted, as reported, Deduct: Net impact of net income (loss) above from fuel contracts divided by dilutive shares, Net income (loss) per share, diluted, excluding special items. A post-retirement curtailment charge related to Employees who accepted the Company's 2020 voluntary separation program and elected to participate in the Company's retiree medical benefits plan. Annual Reports | Hawaiian Airlines | Newsroom Annual 2020 capital expenditures were $515 million. View original content:http://www.prnewswire.com/news-releases/southwest-airlines-reports-fourth-quarter-and-annual-2020-results-301216824.html. (b) Adjustment related to GAAP and Non-GAAP tax rate differences, primarily due to the PSP proceeds being excluded as a special item. Additional information regarding the Company's fuel derivative contracts is included in the accompanying tables. ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 3, 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____. This website contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. (b) An available seat mile is one seat (empty or full) flown one mile. Notable 2020 announcements and accomplishments include: Revenue Results and OutlookThe Company's fourth quarter 2020 total operating revenues decreased 64.9 percent, year-over-year, to $2.0 billion, as a result of continued negative impacts to passenger demand and bookings due to the pandemic. PDF Southwest Airlines Co. 2018 Annual Report to Shareholders Annual net loss of $3.1 billion, or $5.44 loss per diluted share. October 11, 2021. SEC Filings. Southwest Airlines Reports Fourth Quarter And Annual 2020 Results PR Newswire DALLAS, Jan. 28, 2021 DALLAS, Jan. 28, 2021 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today . Southwest Airlines Launches Carbon Offset Offer With Rapid ... Growth from Chaos: Developing Your Firm's Resources to ... - Page 147 Much of our Country is suffering, not only from the health crisis presented by the pandemic, but also the economic crisis that unfolded in March 2020, as well. Read More . While we hope to achieve cash burn break even in 2021, it is wholly dependent upon a substantial rebound in passenger traffic and revenue; and, it is difficult to predict the timing of such a rebound, especially with respect to business travel. In order to achieve cash burn break even, we continue to estimate operating revenues will need to recover to a range of 60 to 70 percent of 2019 levels, which is roughly double current levels. Found inside – Page 4NATIONAL MEDIATION BOARD 50 FIFTIETH ANNUAL REPORT The Airlines : ' A Triumph For Collective Bargaining ' 757 " A triumph ... including Pan American , Eastern , Western , Frontier , Midway , New York Air and Pacific Southwest Airlines . DALLAS, Jan. 28, 2021 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its fourth quarter and . The foundation was laid with strategic initiatives that transformed Southwest during the five years ended 2014. Commission File Number 001-38842 Delaware 83-0940635 State or Other Jurisdiction of I.R.S. While vaccine availability should mark the beginning of the end of this pandemic, current passenger booking trends do not indicate significant improvement through March 2021. Annual Report - Page 2 Dear fellow owners: As I reflect on 2020, I am humbled and amazed by our 20,000 crewmembers and their relentless dedication through the most challenging time in our company's history. Found inside – Page 153Southwest Airlines Co., Annual Reports (Form 10- K), https://www.sec.gov/cgi-bin/ browse- edgar?action=getcompany&CIK=0000092380&type=10- ... Southwest Airlines Co LUV: Financials, Key Ratios, Morningstar, http:// financials. The Company estimates its first quarter 2021 weighted average diluted shares outstanding to be approximately 591 million. Average core cash burn projections do not reflect the potential impact of special items because the Company cannot reliably predict or estimate those items or expenses or their impact to its financial statements in future periods. The Company utilizes average daily core cash burn to monitor the performance of its core business as a proxy for its ability to achieve sustainable cash and profit break-even results. "Average core cash burn5 was approximately $12 million per day in fourth quarter 2020, and we expect average core cash burn of approximately $17 million per day in first quarter 2021, as a result of continued softness in demand and a seasonally weaker travel period in January and February 2021, as well as rising fuel prices. The Company achieved its goal of launching GDS access for corporate travelers in 2020, now at industry-standard participation, including Airline Reporting Corporation (ARC) ticketing and settlement, with Amadeus's GDS platform and Travelport's multiple GDS platforms: Apollo, Worldspan, and Galileo. Proceeds related to the Payroll Support Program under the CARES Act, which were used to pay Employee salaries, wages, and benefits; Accrued charges related to the special termination benefits upon Employees accepting the Company's 2020 voluntary separation program or extended leave program as of December 31, 2020; Gains associated with the sale-leaseback of ten Boeing 737-800 aircraft and ten Boeing 737 MAX 8 aircraft to third parties; A noncash impairment charge related to 20 Boeing 737-700 aircraft that were retired during fourth quarter 2020; Unrealized losses related to twelve forward-starting interest rate swap agreements. Southwest Airlines ( LUV ) disclosed that the annual operating revenues declined approximately by 60% in 2020, adding the financial report of 4Q2020, which resulted in $908 million net loss, compared to a $514 million profit . We also raised cash of $10.9 billion, net of repayments and excluding Payroll Support Program (PSP) proceeds, and ended 2020 with liquidity of $14.3 billion and approximately $12 billion in unencumbered assets4. Annual sustainability reports. 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. Found insideThe future of pricing: How airline ticket pricing has inspired a revolution. ... 2014 annual report. Retrieved from http://investors.southwest.com/~/media/Files/S/Southwest-IR/documents/company-reportsar/ar-2014.pdf Spirit Airlines. However, that also requires controlling the operational costs. Read More. Airline plans to reduce carbon emissions intensity by at least 20 percent by 2030 and maintain carbon neutral growth every . The remaining proceeds are expected to be disbursed to the Company in first quarter 2021. Southwest Airlines Co. (NYSE: LUV) today announced a 15-year offtake agreement with Velocys Renewables LLC ("Velocys") for 219 million gallons of sustainable aviation fuel (SAF). Sale! Found inside – Page 383Southwest also reports other assets with probable long-term benefits. Let's begin by classifying these assets. ... Any sales taxes, legal Harley-Davidson 8.4% EXHIBIT 8.1 Southwest Airlines's Asset Section of the Balance Sheet REAL ... "Preparedness has always been a strength of Southwest Airlines. "We came into the year well-prepared with significant financial strength and started the year strong with an outstanding operational performance and solid net income growth, year-over-year, in January and February 2020, combined. When factoring in these cash inflows, minimal aircraft deliveries, and the cancellation or deferral of the majority of its originally planned capital investment projects, the Company more than offset its originally planned annual 2020 capital spending of approximately $1.4 billion to $1.5 billion. Travel and tourism industries face an ever-changing environment as the pandemic evolves. southwest airlines reports december traffic dallas, texas - january 8, 2019 - southwest airlines co. 2018-12-07: ex-99.1 During 2020, the Company raised a total of approximately $18.9 billion, net of transaction fees, including $13.4 billion in debt issuances and sale-leaseback transactions, $2.2 billion through a common stock offering, and $3.4 billion of PSP proceeds under the CARES Act. Our critical strategic initiatives contributed significantly to the 52 percent surge in cash flow from operations in . Southwest Airlines Co. DALLAS, Oct. 21, 2021 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its third quarter 2021 financial results: Third quarter net income of $446 million, or $.73 . These GAAP financial statements may include (i) unrealized noncash adjustments and reclassifications, which can be significant, as a result of accounting requirements and elections made under accounting pronouncements relating to derivative instruments and hedging and (ii) other charges and benefits the Company believes are unusual and/or infrequent in nature and thus may make comparisons to its prior or future performance difficult. DALLAS, Jan. 28, 2021 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its fourth quarter and annual 2020 financial results: Gary C. Kelly, Chairman of the Board and Chief Executive Officer, stated, "The COVID-19 pandemic devastated the world, and our heart goes out to all those affected. Announced intention to commence new service to eight additional airports: Chicago O'Hare International Airport and Sarasota Bradenton International Airport - February 14, 2021, Colorado Springs Municipal Airport and Savannah/Hilton Head International Airport - March 11, 2021, Fresno Yosemite International Airport - April 25, 2021, Jackson-Medgar Wiley Evers International Airport in, Launched GDS industry-standard participation for the first time, now live with Amadeus and Travelport's GDS platforms: Apollo, Worldspan, and Galileo; reached agreement with Sabre in December 2020, and expect to launch full-participation in Sabre GDS in second half 2021. 2020 ANNUAL REPORT Ford Motor Company One American Road Dearborn, MI 48126 www.corporate.ford.com Printed in U.S.A. 10% post-consumer waste paper. Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its fourth quarter and annual 2014 results: Record fourth quarter net income, excluding special items 1, of $404 million, or $.59 per diluted share, compared with fourth quarter 2013 net income, excluding special items, of $236 million, or $.33 per diluted share. The following table presents monthly capacity results for fourth quarter 2020: The Company currently estimates its first quarter 2021 capacity to decrease approximately 35 percent, year-over-year, primarily driven by the continued negative effects of the pandemic. 2019 Southwest Airlines One Report 2 About the One Report People Performance Planet GRI Content Index. © 2020 Southwest Airlines Co. All Rights Reserved. Accordingly, the Company believes a reconciliation of non-GAAP financial measures to the equivalent GAAP financial measures for these projected results is not meaningful or available without unreasonable effort. Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: Unrealized/realized (gain) loss on fuel derivative instruments. As of December 31, 2011, the company operated 698 aircraft, including 610 Boeing 737 aircraft and 88 Boeing 717 aircrafts, and offered services to 72 cities in 37 states. Given this much-needed PSP Extension stimulus, we intend to avoid involuntary furloughs and pay cuts through 2021—preserving our unprecedented 50-year history of providing job security to Employees. The Company's economic Fuel and oil expense results differ from GAAP results in that they only include the actual cash settlements from fuel hedge contracts - all reflected within Fuel and oil expense in the period of settlement. Southwest Airlines Reports Fourth Quarter And Annual 2020 Results. Most Recent Annual Report. Southwest Airlines Announces 10-Year Environmental Sustainability Plan. Southwest focuses on keeping prices low for its customers. Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as "plans," "believes," "expects," "anticipates," "may," "could," "intends," "goal," "will," "should," and similar expressions and variations thereof. As of December 31, 2020, the Company was in a net cash position8 of $3.0 billion, and its adjusted debt9 to invested capital (leverage) was 56 percent. Found insideThe philosophy of the airlines is best summed up from Southwest's 1994 Annual Report: Southwest Airlines is the nation's low fare, high customer satisfaction airline. We were built from the ground up to save our customers time and money ... Southwest Airlines uses only Boeing 737 aircraft in its fleet which is mainly because of their higher fuel efficiency. 2012 Annual Report. Excluding fuel and oil expense and special items, first quarter 2021 operating expenses are expected to decrease in the range of 15 to 20 percent, year-over-year, primarily due to lower capacity, year-over-year, as well as an estimated $400 million of cost savings from voluntary separation and extended leave programs7. Net of debt repayments, and excluding PSP proceeds, the Company raised $10.9 billion in 2020. Netflix Annual Reports $ 9.99 $ 4.99 Add to cart; Sale! Read More. Found inside – Page 273Southwest Airlines (2012) 2011 Annual Report to Shareholders. Available online at http:// southwest.investorroom.com/company-reports (accessed July 11, 2014). Southwest Airlines (2013) 2012 Annual Report to Shareholders. Found inside – Page 185“The Airline Top 50 2012.” http://www.airfinancejournal.com ... GOL Annual Report 2012 Form 20-F. U.S. Securities and Exchange ... Southwest Airlines. 2013. Annual Report 2012 to Shareholders. http://southwest .investorroom.com. Southwest earned the best Customer Satisfaction ranking among U.S. Marketing Carriers with the lowest ratio of complaints to the DOT per 100,000 enplaned passengers for January through October 2020, the most recent time period published in the ATCR. As of January 21, 2021, the fair market value of the Company's fuel derivative contracts settling in first quarter 2021 was immaterial, and an asset of approximately $13 million for those settling over the remainder of 2021. Economic fuel cost projections do not reflect the potential impact of special items because the Company cannot reliably predict or estimate the hedge accounting impact associated with the volatility of the energy markets, the impact of COVID-19 cases on air travel demand, or the impact to its financial statements in future periods. (d) Seats flown is calculated using total number of seats available by aircraft type multiplied by the total trips flown by the same aircraft type during a particular period. Fourth quarter 2020 operating revenue per ASM (RASM, or unit revenues) was 8.48 cents, a decrease of 40.8 percent, primarily driven by a load factor decline of 29.3 points and a passenger revenue yield decrease of 18.7 percent, all year-over-year. Southwest Airlines Reports Fourth Quarter And Annual 2020 Results. Changes in certain assets and liabilities: Cash collateral received from derivative counterparties, Net cash provided by (used in) operating activities, Proceeds from sale-leaseback transactions, Proceeds from sales of short-term and other investments, Net cash provided by (used in) investing activities, Proceeds from Payroll Support Program loan and warrants, Payments of long-term debt and finance lease obligations, Payments of terminated interest rate derivative instruments, Net cash provided by (used in) financing activities, CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD, CASH AND CASH EQUIVALENTS AT END OF PERIOD, Estimated economic fuel price per gallon, including taxes and fuel hedging premiums (e), Estimated fuel hedging premium expense per gallon (b), Maximum fuel hedged (gallons in millions) (g). DALLAS — Southwest Airlines canceled more than 350 flights Monday following a weekend of major disruptions that it blamed on bad weather and air traffic control issues. The Company is currently working to meet the FAA's requirements by modifying certain operating procedures, implementing enhanced Pilot training requirements, installing FAA-approved flight control software updates, and completing other required maintenance tasks specific to the MAX aircraft. Southwest Airlines Fast Facts. Southwest Airlines offers automated options to receive Investor Alerts. Use of the Southwest websites and our Company Information constitutes acceptance of our Terms & Conditions, Privacy Policy. A Marketing Carrier is an airline that advertises under a common brand name, sells reservations, manages frequent flyer programs, and is ultimately responsible for the airline's consumer policies. Staying competitive and resilient in a changed world "In 2020 aviation faced the devastating effects of COVID-19. This enables the Company's management, as well as investors and analysts, to consistently assess the Company's operating performance on a year-over-year or quarter-over-quarter basis after considering all efforts in place to manage fuel expense. January 28, 2021. In late February 2020, we began to experience a precipitous drop in passenger demand and bookings due to the pandemic. Southwest Airlines Co. (NYSE: LUV) today announced a series of near-term goals, actions, and initiatives in support of a 10-year plan to maintain carbon neutrality to 2019 levels while continuing . As a result, the Company also provides financial information in this release that was not prepared in accordance with GAAP and should not be considered as an alternative to the information prepared in accordance with GAAP. Based on current debt outstanding and current market interest rates, the Company expects first quarter 2021 interest expense to be approximately $113 million. Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its fourth quarter and annual 2015 results: Record fourth quarter net income, excluding special items1, of $591 million, or $.90 per diluted share, compared with fourth quarter 2014 net income, excluding special items, of $404 million, or $.59 per diluted share. 3The Department of Transportation (DOT) ranks all U.S. carriers based on the lowest ratio of complaints per 100,000 passengers enplaned, as published in the DOT Air Travel Consumer Report (ATCR). This news release 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. Excluding fuel and oil expense, special items, and prior year profitsharing expense, annual 2020 operating expenses decreased 15.8 percent, and increased 28.1 percent on a unit basis, both year-over-year. The Company will continue to monitor demand and booking trends and adjust capacity, as deemed necessary, on an ongoing basis. We are grateful to our crewmembers . 5Cash burn is a supplemental measure that most U.S. airlines began providing in 2020 to measure liquidity in light of the negative financial effects of the pandemic. [+] during the 13th annual Aviation Summit at the Walter E. Washington Convention Center on . (c) Revenue passenger miles divided by available seat miles. About this Report American Airlines is committed to providing regular and transparent information about our strategies and performance on the environ-mental, social and governance (ESG) issues that are most important to our company and our stakeholders. As previously disclosed, the Company and The Boeing Company (Boeing) reached a confidential agreement (Boeing Agreement) in December 2020, which included the settlement of 2020 estimated damages relating to the grounding of the Company's 737 MAX 8 aircraft. In December 2020, the Company reached a full-participation GDS agreement with Sabre, planned to launch in second half 2021. Read More. The average Delta Airlines pilot earns $192,000 with top-earners making $526,000." 2013 Annual Report. Factors include, among others, (i) the extent of the COVID-19 pandemic, including the duration, spread, severity, and any recurrence of the COVID-19 pandemic, including through any new variant strains of the underlying virus; the effectiveness and availability of vaccines; the duration and scope of related government orders and restrictions; the duration and scope of the Company's actions to address Customer and Employee health concerns; the extent of the impact of the COVID-19 pandemic on overall demand for air travel and the Company's related business plans and decisions; any negative impact of the COVID-19 pandemic on the Company's ability to retain key Employees; and any negative impact of the COVID-19 pandemic on the Company's access to capital; (ii) the impact of economic conditions, extreme or severe weather and natural disasters, fears of terrorism or war, actions of competitors (including, without limitation, pricing, scheduling, capacity, and network decisions, and consolidation and alliance activities), consumer perception, and other factors beyond the Company's control, on consumer behavior and the Company's results of operations and business decisions, plans, strategies, and results; (iii) the United States Department of Treasury's right pursuant to the PSP Extension to amend the documents or require new or additional conditions of the PSP Extension in ways that may be materially adverse to the Company; (iv) the enactment or adoption of future laws, statutes, and regulations and interpretation or enforcement of current and future laws, statutes, and regulations that affect the terms or application of the PSP Extension and that may have a material adverse effect on the Company; (v) the Company's dependence on third parties, in particular with respect to global distributions systems and related alliances and capabilities, and the impact on the Company's operations and results of operations of any third party delays or non-performance; (vi) the Company's ability to timely and effectively implement, transition, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; (vii) the impact of governmental actions and governmental regulations on the Company's plans, strategies, and operations; (viii) the impact of fuel price changes, fuel price volatility, volatility of commodities used by the Company for hedging jet fuel, and any changes to the Company's fuel hedging strategies and positions, on the Company's business plans and results of operations; (ix) the Company's dependence on Boeing with respect to the Company's fleet order book and delivery schedule; (x) the impact of labor matters on the Company's results of operations, business decisions, plans, and strategies; and (xi) other factors, as described in the Company's filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020.

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