DALLAS, May 18, 2015 /PRNewswire/ -- On the heels of
the airline's Annual Meeting of Shareholders and announcement of
expanded international service, Southwest Airlines® (NYSE: LUV)
released its sixth annual, award-winning integrated report, found
at southwestonereport.com. Southwest Airlines Chairman,
President, and CEO Gary Kelly shared
his thoughts on the 2014 One Report and the carrier's successful
year on his LinkedIn Influencer page. To view a video of Gary
introducing the Report, click here.
Kelly said, "I am immensely proud to say that 2014 will go
down as one of the most monumental years in Southwest's history,
chock-full of major milestones and historic events—a banner year
that we started planning for in 2010 when we laid out our five-year
strategic plan. In short, 2014 was epic!
"It marks the end of one era and the dawn of another as the
restrictions of the Wright Amendment were lifted*, allowing
us to offer additional nonstop service from our home in
Dallas. Of equal significance, we spread our wings into
international territory and expanded our presence in markets that
were once inaccessible to us, like New
York City and Washington,
D.C.
"We continued our commitment to efficient operations by
signing an agreement to purchase low-carbon renewable jet fuel and
remained on track with our fleet modernization efforts. I suppose
it is only fitting that 2014 culminated with the completion of the
AirTran Airways integration, which has been arguably the biggest
project in our Company's history.
"In celebration of all these exciting changes, we introduced
a bold, new look with a new livery and logo. The new look is
centered around a heart, which serves as our foundation and
symbolizes our commitment to remain true to our Core Values and
low-fare philosophy as we seek to spread our Hospitality and
Reliability to the rest of the world, because without a Heart, it's
just a machine. We accomplished all of this and more in 2014 while
returning significant value to our Shareholders, surpassing our
financial target of at least 15 percent pre-tax return on invested
capital, excluding special items (ROIC); maintaining a job-secure
environment for our People; spreading our Hospitality to our
communities; and achieving our 42nd consecutive year of
profitability—a record that is unmatched in the U.S. airline
industry. Further, our common stock (LUV) was the top performer of
the S&P 500. Indeed, 2014 was proof positive of our
ongoing commitment to the triple bottom line."
The carrier's triple bottom line approach takes into account
Southwest's Performance and productivity, the importance of its
People and the communities it serves, and its commitment to
efficiency and the Planet. The 2014 One Report also features
the major headlines of the year, including the launch of
international service, the repeal of the Wright Amendment, the
integration of AirTran Airways, the airline's innovative LUVSeat
upcycling Program, and the opening of a brand new LEED® (Leadership
in Energy and Environmental Design) Silver-certified Training and
Operational Support facility in Dallas.
Key highlights that can be found in the 2014 One Report
include:
PERFORMANCE:
- Reported record net income of $1.1
billion
- Recognized as the top stock performer of the S&P 500 with a
125 percent increase
- Returned $1.1 billion to
Shareholders through repurchases of $955
million of common stock (33 million shares) and payment of
$139 million in dividends
- Reduced long-term debt and capital lease obligations by
$261 million, net of debt issuance
Completed the integration of AirTran Airways, achieving net pre-tax
synergies of approximately $500
million (excluding acquisition and integration
expenses)
PEOPLE:
- Transitioned AirTran Airways Employees into Southwest, creating
one Family
- Allocated the largest total dollar amount ever to the Company's
ProfitSharing Plan
- Introduced a multi-year program, Heart of the Community, as
part of Southwest's community outreach in placemaking
- In 2014, Southwest donated more than $20
million in corporate monetary, in-kind, and ticket donations
to the communities the carrier serves
PLANET:
- Reached 26 percent improvement in jet fuel efficiency on
revenue ton miles per gallon basis compared with 2005
- Decreased absolute greenhouse gas emissions for the second year
in a row due to continued improvements in fuel efficiency
- Continued renewable energy commitments for a total of more than
50 million kilowatt-hours of renewable energy in 2013 and 2014
- Ranked first among the four largest U.S. domestic passenger
airlines and fourth overall for in-service fuel efficiency,
according to the International Council on Clean Transportation
(ICCT) report
Based on the Company's outstanding year in 2014, the airline has
again been named to Corporate Responsibility Magazine's 100 Best
Corporate Citizens List for its commitment to Employees and the
communities in which they work and live. Southwest Airlines was
named in the top 25 and the only commercial airline to make
Corporate Responsibility Magazine's List, with especially high
scores in the following categories:
- Financial performance
- Human rights
- Philanthropy
- Environmental activity
- Climate change
Southwest's strong performance in these categories underscores
the airline's commitment to a triple bottom line of Performance,
People, and Planet.
To arrive at Corporate Responsibility Magazine's 100 Best
Corporate Citizens List, the program audits and ranks Russell 1000
companies across seven corporate and social responsibility
initiatives: environmental activity, climate change, human rights,
employee relations, corporate governance, philanthropy and
financial performance. Corporate Responsibility Magazine collects
data on each company, including sending out an extensive
questionnaire and asking companies to verify Corporate
Responsibility Magazine's initial report. Learn more about the
methodology here.
* Restrictions still apply with respect to
destinations beyond the 50 United States or District of Columbia.
ABOUT SOUTHWEST AIRLINES CO.
In its 44th year of
service, Dallas-based Southwest
Airlines (NYSE: LUV) continues to differentiate itself from other
air carriers with exemplary Customer Service delivered by more than
47,000 Employees to more than 100 million Customers
annually. Southwest operates more than 3,600 flights a day,
serving 94 destinations across the United
States and six additional countries. Southwest service
to Puerto Vallarta, Mexico, begins
on June 7, 2015; and subject to
government approvals, service to Belize City, Belize, begins October
15, 2015. Southwest will begin serving Liberia, Costa
Rica, on November 1, 2015,
subject to foreign government approval.
Based on the U.S. Department of Transportation's most recent
data, Southwest Airlines is the nation's largest carrier in terms
of originating domestic passengers boarded. The Company operates
the largest fleet of Boeing aircraft in the world, the majority of
which are equipped with satellite-based WiFi providing gate-to-gate
connectivity while over the United States. That connectivity
enables Customers to use their personal devices to access streaming
music provided by Beats Music or to view video on-demand movies and
television shows, as well as nearly 20 channels of free, live TV
compliments of our valued Partners. Southwest is the only
major U.S. airline to offer bags fly free® (first and second
checked pieces of luggage, size and weight limits apply) to
everyone, and there are no change fees, though fare differences
might apply. In 2014, the airline proudly unveiled a bold new
look: Heart. The new aircraft livery, airport
experience, and logo, showcase the dedication of Southwest
Employees to connect Customers with what's important in their
lives.
From its first flights on June 18,
1971, Southwest Airlines launched an era of unprecedented
affordability in air travel described by the U.S. Department of
Transportation as "The Southwest Effect," a lowering of fares and
increase in passenger traffic whenever the carrier enters new
markets. With 42 consecutive years of profitability, Southwest is
one of the most honored airlines in the world, known for a triple
bottom line approach that contributes to the carrier's performance
and productivity, the importance of its People and the communities
they serve, and an overall commitment to efficiency and the planet.
The 2014 Southwest Airlines One Report™ can be found
at SouthwestOneReport.com.
Book Southwest Airlines' low fares online
at Southwest.com or by phone at 800-I-FLY-SWA.
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SOURCE Southwest Airlines