Fourth quarter 2021 operating revenues per available seat mile (RASM, or unit revenues) was 13.77 cents, a decrease of 3.8 percent, driven primarily by a passenger revenue yield decrease of 4.1 percent and a load factor decrease of 2.1 points, compared with fourth quarter 2019. A paid subscription is required for full access. The Company's GAAP results in the applicable periods may include other charges or benefits that are also deemed "special items" that the Company believes make its results difficult to compare to prior periods, anticipated future periods, or industry trends. To listen to a live broadcast of the conference call please go to Cost Performance and OutlookFourth quarter 2021 operating expenses increased 52.6 percent, year-over-year, to $4.9 billion, but decreased 4.1 percent compared with fourth quarter 2019. Compared with 2019, full year 2021 operating expenses decreased 27.7 percent, and decreased 13.9 percent on a unit basis. Farnborough Airshow Day 2 Roundup: What Did The Second Day Have In Store? Antonov An-12 Cargo Aircraft Crashes In Greece, Then There Were 15: Inside The Last Remaining Airline Airbus A318s, Up Next: Norse Atlantic Set To Announce Stockholm Base For Its Boeing 787s, Then There Were 5: Cypriot Carrier TUS Airways Takes Another Airbus A320, Over 8% Of Flights Canceled: Qantas Was Australia's Least Reliable Domestic Carrier In June, India's Star Air To Lease 2 Embraer E175s From Nordic Aviation Capital, Air India Express Flight Diverts To Muscat Amid Burning Smell, United To Return To Prague & Stockholm While Starting Washington-Berlin Flights, Third Time Lucky? firm research cco brings results With COVID-19 cases trending downward, the worst appears to be behind us, and we are optimistic about current bookings and revenue trends for March 2022. (i) CASM (unit costs) - Operating expenses per ASM, calculated as operating expenses divided by available seat miles. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Southwest Airlines is a passenger airline that provides scheduled air transportation in the United States. Learn more about how Statista can support your business. This includes five 2022 -8 options exercised on January 1, 2022, and assumes the Company exercises all 37 remaining 2022 options6. (a) Tax amounts for each individual special item are calculated at the Company's effective rate for the applicable period and totaled in this line item. Corporate solution including all features. Southwest Airlines ended the second quarter with 736 aircraft, all from the Boeing 737 family. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. The airline revealed that these 39 Boeing 737-700 aircraft are expected to all return to service by the end of the year following the required maintenance checks. Profit from the additional features of your individual account. Environmental, Social, and Governance (ESG): Announced multiple offtake agreements and memoranda of understanding with. Southwest Airlines annual/quarterly net income history and growth rate from 2010 to 2022. Including the options exercised on January 1, 2022, the Company's order book with Boeing contains 406 MAX firm orders (271 -7 and 135 -8) and 226 MAX options (-7 or -8) for years 2022 through 2031. Full year 2021 total operating revenues increased 74.5 percent, year-over-year, to $15.8 billion, but decreased 29.6 percent compared with 2019 due to the impact of the pandemic. Additional information regarding the Company's fuel derivative contracts is included in the accompanying tables. Our fourth quarter 2021 cost performance was in line with expectations, which included hiring thousands of new Employees. December 2021 managed business revenues declined 50 percent compared with December 2019, outperforming the Company's previous expectation of down 55 percent to 60 percent versus December 2019 levels, driven by increased passengers and stronger fares. We are currently in discussions with our workgroups to enact this increase in pay rates. (a) Brent crude oil average market prices as of January20, 2022, were approximately $87 and $84 per barrel for first quarter 2022 and full year 2022, respectively. houseboating trekaroo Fleet and CapacityThe Company ended 2021 with 728 Boeing 737 aircraft, including 69 Boeing 737-8 (-8) aircraft. (f) Calculated as passenger revenue divided by revenue passenger miles. The Omicron variant significantly impacted our available staffing beginning in early January 2022, and we temporarily extended incentive pay for Operations Employees through early February 2022, as we strive to maintain sufficient available staffing and minimize flight cancellations.

A Roundup Of Day 3 At The 2022 Farnborough International Airshow, Southwest Airlines Reveals $348 Million Profit, American Airlines said it had ended the quarter $19 million in profit, Alaska Airlines reported a whopping $400 million, Africa's Astral Aviation Launch Operator For Embraer's E190F Freighter. Excluding fuel and oil expense, fourth quarter 2021 operating expenses increased 34.1 percent year-over-year, and decreased 3.8 percent, compared with fourth quarter 2019. and over 1Mio. By the end of the year, Southwest Airlines wants to add one more MAX while returning one more -700. Net income can be defined as company's net profit or loss after all revenues, income items, and expenses have been accounted for. While not at pre-pandemic levels, it does represent a significant turnaround from the airline's loss of $915 million during the second quarter in 2020. I am supremely honored and privileged to have served Southwest as CEO for 18 years, and I look forward to continuing to be a part of the Team as Executive Chairman.". Additional information regarding the Company's aircraft delivery schedule is included in the accompanying tables. Southwest Airlines Co.'s operating revenue from FY 2010 to FY 2021 (in million U.S. dollars) [Graph]. Caspian Airlines Flight 7908: One Of 2009's Worst Aviation Accidents. Controladora Vuela Compania De Aviacion, S.A.B De C.V (VLRS), Southwest Airlines Net Income 2010-2022 | LUV, Southwest Airlines net income for the quarter ending March 31, 2022 was, Southwest Airlines net income for the twelve months ending March 31, 2022 was, Southwest Airlines annual net income for 2021 was, Southwest Airlines annual net income for 2020 was, Southwest Airlines annual net income for 2019 was. Further information on (i) the Company's fuel hedging program, (ii) the requirements of accounting for derivative instruments, and (iii) the causes of hedge ineffectiveness and/or mark-to-market gains or losses from derivative instruments is included in the Company's Annual Report on Form 10-K for the fiscal year ended December31, 2020 and subsequent filings. (a) The Company believes that operating revenues compared with 2019 is a more relevant measure of performance than a year-over-year comparison due to the significant impacts in 2021 due to the pandemic. The Company continues to have unencumbered assets with an estimated value of more than $11.0 billion, including aircraft value estimated in the range of $9.0 billion to $9.5 billion, and approximately $2.0 billion in non-aircraft assets such as spare engines, ground equipment, and real estate. We generated net income in June 2021, representing our first monthly profit since the negative effects of the pandemic began in March 2020. Based on the Company's available seat mile plans for full year 2022, its maximum percent of estimated fuel consumption covered by fuel derivative contracts is 64 percent. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. The Company repaid approximately $607 million in debt and finance lease obligations during fourth quarter 2021, including the prepayment of $392 million in aircraft secured term loans and the extinguishment of $124 million in principal of its convertible notes for a cash payment of $172 million. The volume of gallons covered by derivative contracts that ultimately get exercised in any given period may vary significantly from the volumes provided, as market prices and the Company's fuel consumption fluctuates. Our Employees' resilience, teamwork, and care for Customers and one another has been a marvel to watch. Additionally, we are further moderating our first half 2022 capacity plans to provide additional buffer to the operation. Any net premium costs paid related to option contracts that are designated as hedges are reflected as a component of Fuel and oil expense, for both GAAP and non-GAAP (including economic) purposes in the period of contract settlement. Reflects five options exercised on January 1, 2022, for delivery in 2022, and the assumption that the Company exercises all 37 remaining 2022 options. First quarter 2022 managed business revenues are expected to be down 45 percent to 55 percent versus first quarter 2019 levels. What do you make of Southwest Airlines' second-quarter results? Also referred to as "operating unit revenues," this is a measure of operating revenue production based on the total available seat miles flown during a particular period. The Winter Hill Air Disaster: The UK's Deadliest High-Ground Air Crash, Its Official: ANA Signs Order For 20 Boeing 737-8s & 2 777-8Fs. The MAX remains critical to the Company's efforts to modernize its fleet, reduce carbon emissions intensity, and achieve its near-term environmental sustainability goals. While we made significant progress in 2021, the Omicron variant has delayed the demand improvement we were previously expecting in early 2022. The non-GAAP measures provided that relate to the Company's performance on an economic fuel cost basis include Fuel and oil expense, non-GAAP; Total operating expenses, non-GAAP; Operating expenses, non-GAAP excluding Fuel and oil expense; Operating expenses, non-GAAP excluding Fuel and oil expense and profitsharing; Operating income (loss), non-GAAP; Other (gains) losses, net, non-GAAP; Income (loss) before income taxes, non-GAAP; Provision (benefit) for income taxes, net, non-GAAP; Net income (loss), non-GAAP; and Net income (loss) per share, diluted, non-GAAP. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. (in millions, except per share and unit costs), Operating expenses, excluding Fuel and oil expense, Operating expenses, excluding Fuel and oil expense and profitsharing, CASM, excluding Fuel and oil expense and profitsharing (cents), Fuel costs per gallon, including fuel tax (economic), Inventories of parts and supplies, at cost, Prepaid expenses and other current assets, Deposits on flight equipment purchase contracts, Less allowance for depreciation and amortization, Accumulated other comprehensive income (loss), Condensed Consolidated Statement of Cash Flows.

Also included 32 Boeing 737 MAX and 60 Boeing 737 Next Generation aircraft in long-term storage as of December31, 2020. The Company's October 2021 operating revenues included a negative impact of approximately $75 million as a result of flight cancellations from operational challenges and related Customer refunds and gestures of goodwill. While we continue to manage through an incredibly challenging operating environment, we made much progress in our recovery in 2021 and are well-positioned for future growth with our industry-leading balance sheet. Also referred to as "capacity," which is a measure of the space available to carry passengers in a given period. Compared with 2019, operating expenses, excluding fuel and oil expense, special items, and profitsharing, decreased 6.8 percent, and increased 11.1 percent on a unit basis. The Company believes certain comparisons with 2019 are more relevant measures of performance than year-over-year comparisons due to the significant impacts in 2020 due to the pandemic. Southwest Airlines has decided to compare its revenues with 2019, as it believes the impacts of the pandemic make 2020's figures less relevant. Furthermore, the Company is reducing its first quarter 2022 capacity to provide additional stability during this challenging environment. 3Taxes and fees will not be matched by Southwest or earn points. Commenting on the figures, Southwest Airline's outgoing CEO, Gary Kelly, said. (b) Adjustment related to GAAP and Non-GAAP tax rate differences, primarily due to the PSP proceeds being excluded as a special item, and reflecting the anticipated benefit of carrying back full year 2020 projected net losses to claim tax refunds against previous cash taxes paid relating to tax years 2015 through 2019, some of which were at higher rates than the current year. The ideal entry-level account for individual users. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. The delivery schedule for the Boeing 737-7 (-7) is dependent on the Federal Aviation Administration ("FAA") issuing required certifications and approvals to The Boeing Company (Boeing) and the Company.

Therefore, the below supplemental information is provided for reference. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. The following table presents economic fuel costs per gallon1, including the impact of fuel hedging premium expense and fuel derivative contracts, for fourth quarter and full year 2021 and the corresponding prior year periods: As of January20, 2022, the fair market value of the Company's fuel derivative contracts settling in first quarter 2022 was an asset of approximately $155 million and an asset of approximately $450 million for those settling over the remainder of 2022.
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