southwest airlines co (LUV) Key Developments
Southwest Airlines Co. Reports Preliminary Operating Results for the Month, Third Quarter, and Year-To-Date Ended September 2015
Oct 8 15
Southwest Airlines Co. reported preliminary operating results for the month, third quarter, and year-to-date ended September 2015. For the month, the company flew 9.2 billion revenue passenger miles (RPMs) in September 2015, an 11.4% increase from the 8.3 billion RPMs flown in September 2014. Available seat miles (ASMs) increased 8.4% to 11.1 billion in September 2015, compared with the September 2014 level of 10.3 billion. The September 2015 load factor was a record for the month of September at 82.7%, compared with 80.5% in September 2014.
For the third quarter of 2015, the company flew 31.1 billion RPMs, compared with 28.5 billion RPMs flown for the same period in 2014, an increase of 8.9%. Third quarter 2015 ASMs increased 7.6% to a level of 36.4 billion, compared with third quarter 2014 ASMs of 33.8 billion. The third quarter 2015 load factor was a quarterly record at 85.4%, compared with 84.4% for the same period in 2014. The company continues to expect its third quarter 2015 operating revenue per ASM (RASM) to decrease approximately 1.0%, compared with third quarter 2014.
For the first nine months of 2015, the company flew 87.8 billion RPMs, compared with 81.3 billion RPMs flown for the same period in 2014, an increase of 8.0%. Year-to-date 2015 ASMs increased 6.9% to a level of 105.1 billion, compared with 98.4 billion for the same period in 2014. The year-to-date 2015 load factor was 83.5%, compared with 82.6% for the same period in 2014.
Southwest Airlines Appoints Thomas W. Gilligan to Board of Directors
Sep 23 15
At a meeting on September 23, 2015, the Board of Directors of Southwest Airlines appointed Dr. Thomas W. Gilligan as a member of the Board. Dr. Gilligan currently serves as the Tad and Dianne Taube Director of the Hoover Institution on War, Revolution and Peace at Stanford University, a position he has held since Sept. 2015. Prior to his appointment at the Hoover Institution, Dr. Gilligan served as the Dean of the McCombs School of Business at The University of Texas at Austin from 2008 to Aug. 2015, where he also held the Centennial Chair in Business Education Leadership.
Southwest Airlines Co., Board Meeting, Sep 23, 2015
Sep 23 15
Southwest Airlines Co., Board Meeting, Sep 23, 2015. Agenda: To approve the appointment of Thomas W. Gilligan as a member of the board.
Southwest Airlines and Pilots Reach Tentative Agreement
Sep 18 15
Southwest Airlines Co. (LUV) announced that it has reached a new tentative agreement with the Southwest Airlines Pilots' Association, the Union that represents the company's pilots. The Association's Board of Directors reviewed an agreement in Principle that negotiators reached earlier this month and decided to conduct a ratification vote that could end more than three years of negotiations. The ratification vote will close November 4. If Pilots approve the deal, the contract will become amendable April 1, 2019. The company said the agreement offers wage increases and work-rule changes.
Southwest Airlines Co. Presents at Morgan Stanley 3rd Annual Laguna Conference, Sep-18-2015 08:45 AM
Sep 11 15
Southwest Airlines Co. Presents at Morgan Stanley 3rd Annual Laguna Conference, Sep-18-2015 08:45 AM. Venue: Montage Laguna Beach, Laguna Beach, California, United States. Speakers: Tammy Romo, Chief Financial Officer and Executive Vice President.