LUV posts 4th quarter/full year profit.

[GuppyWN]

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.

 

[MILPILOT17]

Congrats my fellow Red Bellied Warriors!

Waiting for the General to respond in 5-4-3-2-1 .........

 

[maxblast72]

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.

 

[Whataburger]

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.

 

[pilotgolfer]

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?

 

[Whataburger]

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?

The % comes out in a couple months for 2009. Pays in September. Based on entire year.

 

[pilotgolfer]

The % comes out in a couple months for 2009. Pays in September. Based on entire year.

Do the percentages of payout vary based on longevity or is it the same for everyone on the list?

 

[shootr]

Straight percentage company-wide based upon total pay for the year.

shootr

 

[rajflyboy]

Or could it be "Smoke n Mirrors" by a very good accountant????

 

[MILPILOT17]

Or could it be "Smoke n Mirrors" by a very good accountant????

Yea, that's it! SWA actually lost money and just found a way to report a profit so they could pay some more taxes.

 

[crj567]

Waiting for the General to respond in 5-4-3-2-1 .........

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?

 

[Newpilot2b]

Profitable for most of the last decade ? How about 37 straight years !

 

[JA'd]

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.

 

[DX Jake]

The % comes out in a couple months for 2009. Pays in September. Based on entire year.

Based off of past events, the profit sharing percentage should be announced on Feb. 2 in PHX.

 

[GuppyWN]

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.

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. imp:

Gup

 

[B727Driver]

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.

 

[rajflyboy]

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?

The Love Machine has put more pilots on the street than any other company or Management Type in aviation history. Thats a fact jack!!

 

[MILPILOT17]

The Love Machine has put more pilots on the street than any other company or Management Type in aviation history. Thats a fact jack!!

Here we go again; blame it on SWA. You really aren't very smart are you?!

 

[rajflyboy]

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.

 

[cybourg10]

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.

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............