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Southwest Airlines

Nation's leading discount airline.

Headquarters:
PO Box 36611
Dallas, TX 75235
Employees: 34,378
CEO: Gary Kelly
Stock Symbol: LUV

Website: http://www.southwest.com

Career Site

Southwest is the nation's leading airline carrying 88.7 million passengers in 2007 on over 3,300 flights daily.

The airline is best known for its low prices with fares ranging from $49 to $299 with advance purchase. Southwest books most of its flights through its website to save money and doesn't participate in other travel sites like Orbitz or Travelocity, which would force the airline to pay commissions.

Known for its quirky style, Southwest specializes in direct flights from city-to-city. It turns planes around quickly from landing to departure so planes spend more time in the air instead of waiting on the ground. The top five airports served based on daily flights are Las Vegas, Phoenix, Baltimore, Chicago Midway and Houston Hobby.

Southwest only flies 737 aircraft so it can standardize maintenance and save costs. The company has 520 planes with most able to carry 137 passengers. Seats are not assigned and there is no first-class section. Meals aren't served on flights -- only snacks and beverages.

Southwest flies to 64 cities in 32 states. It usually avoids large, congested airports which can wreak havoc on scheduling with delays. These include NYC, Boston, Atlanta and Chicago's O'Hare airport.

In 2007, the company reported record revenues of $9.8 billion and net income of $645 million. Southwest has been profitable for an amazing 35 straight years but has been feeling the pinch from rising oil prices. The airline used 1.48 billion gallons of fuel in 2007, a 7.2% increase. A hedging program used by the company for fuel purchases has saved the airline money while the price of fuel has soared.

The average passenger fare in 2007 was $106.60. The airline had a passenger load factor of 72.6%, which is the percentage of available seats filled.

Due to high fuel costs and a weak economy for travel, Southwest said it will cut 196 flights beginning on January 11, 2009.

History

Southwest was founded by Rollin King and Herb Kelleher. The airline began service June 18, 1971 with three airplanes and flights to Houston, Dallas, and San Antonio. They concentrated on getting customers to their destination on-time and at low fares. They also made sure people had a good time while flying.

Southwest carried its one millonth passenger in 1974. The company went public under the symbol LUV in 1977.

The airline topped the monthly domestic originating passenger rankings for the first time in May 2003.

In 2007, Southwest changed its boarding policy to allow users to board by specific number instead of just three sections A, B, C. It also introduced Business Select seating at a higher ticket price that lets passengers board first and includes a complimentary alcoholic beverage.

Benefits

Southwest is known for treating employees well and as a great place to work. According to the company, it received 284,827 resumes and hired 3,363 new Employees in 2006.

Below is a summary of benefits offered:

Passes/Travel Privileges

One of the special benefits of working at Southwest is flying free. Effective the first day of employment, Employees, spouses, eligible dependent children, and parents of Employees have unlimited space-available travel privileges on Southwest. Discounted travel arrangements with other carriers are also available through the Southwest Airlines Pass Bureau, subject to eligibility requirements and other restrictions.

ProfitSharing and 401(k)

Participation in the ProfitSharing Plan is offered to all eligible Employees. The plan is funded by Company contributions to profitsharing accounts. Company contributions are made when the Company meets profitability goals set each year.

The 401(k) Plan is designed to help Employees to prepare for the future. Eligible Employees may contribute up to 50% of their pay to the plan on a pretax basis. A Company match is offered based on Employee groups. Rollovers are accepted from the Employee's former employer's qualified plan.

Stock Purchase Plan

This plan was specially designed to allow Employees to share in the success of the Company. Through the plan, Employees may invest in Southwest Airlines Co. stock through payroll deductions. Employees pay only 90% of market value for the stock. The Company pays broker commissions on stock purchases.

Medical Insurance

Employees may choose from several different medical plan options depending on their lifestyle, needs, and priorities through a cafeteria style flexible benefits program. PPO Network and HMO plans are included. Most medical plan options are available to Employees at no cost with family coverage available at minimal cost.

Dental Insurance

Dental coverage is offered through several dental plan options. Basic dental coverage is available to Employees at no cost. Optional additions and family coverage are available at minimal cost. All dental coverage options include preventive, basic, major, and orthodontic coverage.

Vision

Vision coverage is offered to provide affordable vision care for Employees and their families. Coverage under the vision plan includes complete eye exams and lenses and frames or contact lenses. Under some plans, vision coverage is available only to certain work groups.

Life Insurance

Basic life insurance is provided to all Employees at no cost. Coverage is based on annual salary. Optional Employee and dependant life insurance are also available.

Sick Leave, Vacation and Holidays

Depending on employment classifications, Employees are able to accrue time off for personal illness and vacation. Employees celebrate several paid holidays throughout the calendar based on their employment classifications.

Other Benefits

Long-Term Disability Insurance · Dependant Care Spending Account · Healthcare Spending Account · Adoption Assistance Reimbursement Benefit · Child and Elder Care Resource and Referral Program · Mental Health Chemical Dependency/Employee Assistance Program

Updated August 26, 2008