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LUV posts 4th quarter/full year profit.

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GuppyWN

GuppyWN

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Congrats my fellow Red Bellied Warriors!

Southwest Airlines Reports Fourth Quarter Profit and 37th Consecutive Year of Profitability

DALLAS, Jan 21, 2010 /PRNewswire via COMTEX/ -- Southwest Airlines (NYSE: LUV) today reported its fourth quarter and full year 2009 results.

Net income for fourth quarter 2009 was $116 million, or $.16 per diluted share, compared to a net loss of $56 million, or $.08 loss per diluted share, for fourth quarter 2008.

Fourth quarter 2009 results included special items (net of profitsharing and taxes) of $42 million, related to non-cash, mark-to-market gains and other items associated with a portion of the Company's fuel hedge portfolio. Excluding special items for both years, fourth quarter 2009 net income was $74 million, or $.10 per diluted share, compared to $61 million, or $.08 per diluted share, in fourth quarter 2008.

The fourth quarter 2009 results, excluding special items, of $.10 per diluted share exceeded Thomson's First Call mean estimate of $.07 per diluted share. Additional information regarding special items is included in this release and in the accompanying reconciliation tables.

For the full year 2009, net income was $99 million, or $.13 per diluted share, compared to $178 million, or $.24 per diluted share, for full year 2008.
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It appears "Bags Fly Free" campaign and schedule optimization program have really produced good results. SWA Q4 performance much better than first 3 quarter of 2009. Good management and good employees usually produce good results.
 
Listening to the conference call.
Overall good feeling. Record 4Q. ASMs down, Loads and revenue up. Cautious 2010 with no net gain in aircraft per Gary. 10 new planes. Two big projects in 2010: New Rapid Rewards, Codeshare technology implemented. Int'l Codeshare "no-brainer." No international with our "metal" in 2010 or 2011. Very happy with LGA with more demand than slots and gates. 144 flights in DEN by August. $2.4B cash on hand, 45% leveraged, $600M untapped line of credit.

Might have heard wrong, but I think Laura said the hot pants are comming back 2Q 2010. :)
 
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How much will your profit sharing be this year? Does it go quarter by quarter or do they calculate at the end of the year?
 
MILPILOT17 said:
Waiting for the General to respond in 5-4-3-2-1 .........
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Yeah-

Where the heck is the Gen? I sure would love to see him poking fun (again) at a company which has been profitable for most of the last decade-rather than an employee-destroying, investor-raping, black hole.

-LBB don't look all that bad from that point of view-does it Gen?
 
Okay all you Gary bashers out there, you have to give him some credit. At least he has stuck by the no bag fees for now, which seems to have paid off.
 
JA'd said:
Okay all you Gary bashers out there, you have to give him some credit. At least he has stuck by the no bag fees for now, which seems to have paid off.
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Good point. I have been critical of Mr. Kelly in the past. We have record load factors. Is that because of Bags Fly Free? Is it putting more revenue in our pockets?

Hopefully Charlotte and Cincy will be good markets. We'll find out later this year. :pimp:

Gup
 
Bags fly free IS putting more money in your pockets in the form of new customers. Finally, the public is fed up with fees and the recently announced fee hike just might put them over top. Congrats Gup and all the SWA folks, job well done.
 
crj567 said:
Yeah-

Where the heck is the Gen? I sure would love to see him poking fun (again) at a company which has been profitable for most of the last decade-rather than an employee-destroying, investor-raping, black hole.

-LBB don't look all that bad from that point of view-does it Gen?
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The Love Machine has put more pilots on the street than any other company or Management Type in aviation history. Thats a fact jack!!
 
It doesn't take much intelligence to see that when Southwest pulls into a new airport somewhere >> That will put Pilots on the street with another airline. This has happened a lot over the years.

Profitable for 37 years >>> I guess this makes a great argument for how great "Pay for Training" works.
 
rajflyboy said:
It doesn't take much intelligence to see that when Southwest pulls into a new airport somewhere >> That will put Pilots on the street with another airline. This has happened a lot over the years.

Profitable for 37 years >>> I guess this makes a great argument for how great "Pay for Training" works.
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The pay for training argument is a waste of time...........give it up.

Even after the $8 grand the new hire spends on a 737 type he still takes home more than he would at any other airline.

If SWA starts a flying into a new city with higher paid pilots and indirectly puts other pilots out of work then what is the problem? That is called the free market. SWA has shown that you can pay and treat employees great and still turn a profit. Don't be a hater............
 
cybourg10 said:
The pay for training argument is a waste of time...........give it up.

Even after the $8 grand the new hire spends on a 737 type he still takes home more than he would at any other airline.

If SWA starts a flying into a new city with higher paid pilots and indirectly puts other pilots out of work then what is the problem? That is called the free market. SWA has shown that you can pay and treat employees great and still turn a profit. Don't be a hater............
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I have no problem at all with the free market. What I do not believe is that SWA does not put pilots out of work. Thats simply not true.

When you pay for a type in lieu of getting a job >> you pay for training. End of story!
 
rajflyboy said:
The Love Machine has put more pilots on the street than any other company or Management Type in aviation history. Thats a fact jack!!
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You're so full of sh!t you can't even think straight. Mind explaining yourself with facts, not rhetoric?

Gup
 
GuppyWN said:
Hopefully Charlotte and Cincy will be good markets. We'll find out later this year. :pimp:

Gup
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CONGRATS on the positive news!

As a Cincy resident, I can say we are anxiously awaiting SWA to begin flying here. Delta has had a strangle-hold on that market for long enough. People drive to DAY, SDF, IND and CMH - about a 2 hour drive - just to afford to take their families on vacation. Come on in! SWA will do very well when the timing is right!
 
What about those that got hired without the type?

The 5 thousand for the type is paid back very quickly. Just facts.

Congrats SWA! It looks like bags fly free is starting to really pay off. I've had passengers tell me how much they love that campaign and not getting raped by the other carriers.

The ads say it may cost up to 100 dollars more on another carrier. I think that can be as much as EACH way.
 
rajflyboy said:
I have no problem at all with the free market. What I do not believe is that SWA does not put pilots out of work. Thats simply not true.

When you pay for a type in lieu of getting a job >> you pay for training. End of story!
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Back in the day when I was doing the airline application, a requirement was that I had a 4-year degree. I paid for that!

Next question?
 
ultrarunner said:
Back in the day when I was doing the airline application, a requirement was that I had a 4-year degree. I paid for that!

Next question?
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American, United and Delta hired some guys without degree's back then. I will agree that the majority all had degree's.

You gettin a degree is totally different than what LUV does in my opinion.
 
rajflyboy said:
American, United and Delta hired some guys without degree's back then. I will agree that the majority all had degree's.

You gettin a degree is totally different than what LUV does in my opinion.
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Well, I respectfully disagree. Any company is free to essentially mandate a minimum requirement to either Apply, Interview and Get Hired. Weather it be type ratings, college degrees, whatever, SOME of those requirements may actually be the burden of the potential employee. Pay to Play as they say.

Heck I had to fork out and PAY, yes PAY for my FE written just to APPLY for some of those jobs back then. Remember that?

Luv's requirement is just all part of that same stuff.....IMHO.
 
ultrarunner said:
Well, I respectfully disagree. Any company is free to essentially mandate a minimum requirement to either Apply, Interview and Get Hired. Weather it be type ratings, college degrees, whatever, SOME of those requirements may actually be the burden of the potential employee. Pay to Play as they say.

Heck I had to fork out and PAY, yes PAY for my FE written just to APPLY for some of those jobs back then. Remember that?

Luv's requirement is just all part of that same stuff.....IMHO.
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It's nice to see someone with the ability to reason!
 

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