With 40 consecutive years of profitability, Dallas-based Southwest Airlines (NYSE: LUV) continues to differentiate itself from other carriers with exemplary Customer Service delivered by nearly 46,000 Employees to more than 100 million Customers annually. On May 2, 2011, Southwest completed the acquisition of AirTran Holdings, Inc., and now operates AirTran Airways as a wholly-owned subsidiary. Southwest is the nation’s largest carrier in terms of originating domestic passengers boarded and, including AirTran, operates the largest fleet of Boeing aircraft in the world to serve 96 destinations in 41 states, the District of Columbia, the Commonwealth of Puerto Rico, and five near-international countries. Southwest has lower unit costs (adjusted for stage length), on average, than virtually all major domestic airlines and consistently has one of the best overall Customer Service records. Southwest’s all-Boeing fleet consistently offers leather seating and the comfort of full-size cabins. The majority of Southwest’s fleet is equipped with a new, eco-friendly cabin interior, and satellite-based WiFi connectivity, including a new inflight entertainment portal, which gives Customers the ability to watch live TV, news, sports, and movies.
Southwest seeks to enhance Shareholder value through capital efficiency and our targeted 15 percent pre-tax return on invested capital. In 2012, Southwest returned $422 million to Shareholders through repurchasing $400 million of common stock (approximately 46 million shares) and distributing $22 million in dividends. LUV is Southwest’s stock exchange symbol, selected to represent its home at Dallas Love Field, as well as the theme of Southwest’s Stakeholder relationships. Southwest is one of the most honored airlines in the world known for its commitment to the triple bottom line of Performance, People, and Planet. To read more about how Southwest is doing its part to be a good corporate citizen, see the 2012 Southwest Airlines One Report™.
On May 2, 2011, Southwest Airlines closed on its purchase of all of the outstanding common stock of AirTran Holdings, Inc. (NYSE: AAI), the former parent company of AirTran Airways (AirTran). Based on the average of Southwest Airlines' closing prices for the 20 trading days ending three trading days prior to May 2, 2011, of $11.90, the transaction valued AirTran common stock at approximately $7.57 per share.
For related tax basis information, as provided on IRS Form 8937, click here.
For AirTran Acquisition frequently asked questions, click here.
For Press Release regarding May 2, 2011 Legal Close, click here.
For Proxy Statement/Prospectus, click here.
For AirTran Acquisition Fact Sheet, click here.
* To illustrate our steadfast focus on a triple bottom line-our Performance, our People, and our Planet-we have highlighted these three elements of sustainability in our 2012 Southwest Airlines One Report.
** 2012 Annual Report to Shareholders pursuant to Rule 14a-3 of the Exchange Act.
Southwest Airlines Co.
Investor Relations, HDQ-6IR
P.O. Box 36611
Dallas, Texas 75235