Record Operating Revenue
Southwest Airlines reported a quarterly record operating revenue of $6.4 billion, with RASM increasing by 3.5% on all-time record yields.
Cost Reduction Achievements
CASM-X growth of 4.6% was significantly better than the original guidance of 7-9% and well below the revised guidance of approximately 6%.
Operational Excellence
Southwest Airlines led the industry in on-time performance and had the fewest extreme delays, with a completion factor of 98.6%, the best in 12 years.
Successful Expansion Initiatives
The launch of Expedia exceeded expectations with new customer acquisition, and the Rapid Rewards program optimizations led to record first-quarter spend on co-branded credit cards.
Strong Balance Sheet Management
Southwest Airlines plans to pay down $2.6 billion of debt in the second quarter and has a committed share repurchase of $1.5 billion, highlighting confidence in financial plans.