Elliott Sends Second Open Letter to Its Fellow Shareholders

Declares Intent to Call a Special Meeting in Coming Weeks, Given Urgent Need for Leadership Change

Southwest's Use of "False Record Dates" Requires Shareholders Take Action Now to Protect Their Investment

WEST PALM BEACH, Fla., Sept. 24, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment representing an approximately 11% economic interest in Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest"), today sent a second open letter to its fellow Southwest shareholders.

DALLAS, Sept. 24, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) announced today a partnership with Warner Bros. to celebrate 30 years of the beloved television series FRIENDS®. This monthlong celebration brings special offerings to Southwest® Customers, including a FRIENDS-themed fare sale, fan-favorite episodes on the Inflight Entertainment Portal to stream for free1, and a Surprise & Delight flight with trivia and show-themed giveaways.

"This FRIENDS-themed fare sale is for everyone—whether you're 'on a break' and flying solo or have a special 'lobster' you're flying with and want to book another getaway," said Jennifer Bridie, Vice President of Marketing at Southwest Airlines. "Our flexible policies, such as no change or cancel fees2, allow our Customers to 'pivot' their plans, and we'll be 'there for you' to help you book your next trip …The One Where You Fly Southwest."

DALLAS, Sept. 19, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) invites you to listen to a live webcast of its 2024 Investor Day. Southwest will be webcasting the presentation live, and a link to the webcast will be made available via the Investor Relations homepage on the Southwest Airlines website. Details of the webcast are as follows:

Date:

Thursday, September 26, 2024

Time:

10:30 a.m. ET

Speakers:

Bob Jordan, President, Chief Executive Officer, and Vice Chairman of the Board of Directors

Andrew Watterson, Chief Operating Officer

Ryan Green, Executive Vice President Commercial Transformation

Tammy Romo, Executive Vice President and Chief Financial Officer

Web Address:

 https://www.southwestairlinesinvestorrelations.com/

Flight Simulator Technicians Approve New Contract;All Labor Contracts Now Successfully Ratified

DALLAS, Sept. 16, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) and the International Brotherhood of Teamsters (IBT) Local 19 today announced the airline's Flight Simulator Technicians have voted in favor of their new contract.

Southwest Airlines® has more than 50 Flight Simulator Technicians who provide maintenance and engineering support for the Company's flight training equipment. The new contract includes increased pay rates, a new Simulation Engineer classification, and maternity and parental leave for eligible Employees. It becomes amendable in September 2028.

WEST PALM BEACH, Fla., Sept. 10, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), today released the following statement on behalf of Partner John Pike and Portfolio Manager Bobby Xu regarding Southwest Airlines Co. (NYSE: LUV) ("Southwest") and the actions announced today – including the resignation of seven directors:

We learned yesterday, which was made public today, that nearly half of Southwest's Board of Directors had decided to resign based on shareholder feedback. In our experience, this is unprecedented.

Six Directors to Retire in November; Gary Kelly to Retire Immediately After 2025 Annual Meeting 

Board Intends to Appoint Four New Independent Directors, Potentially Including Candidates Proposed by Elliott Investment Management L.P., in Near Term

Board Eliminates Executive Committee Structure and Creates New Finance Committee; New Committee Chairs and Lead Independent Director to be Named

Board Reiterates Support for Bob Jordan as CEO

Southwest Airlines Intends to Continue Engagement Toward a Collaborative Resolution with Elliott Investment Management L.P.

DALLAS, Sept. 9, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) and the International Brotherhood of Teamsters (IBT) Local 19, which represents the airline's Flight Simulator Technicians, have reached a Tentative Agreement for a new collective bargaining agreement.

"Our Flight Simulator Technicians help keep our flight training facility operating nearly 24 hours a day and play a pivotal role in Southwest's mission to support a safe and reliable operation," said Adam Carlisle, Vice President Labor Relations at Southwest Airlines®. "I am pleased they will have the opportunity to vote on a new contract."

Airline achieves 100 percent completion factor on Labor Day

DALLAS, Sept. 3, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) closed out summer travel with zero cancellations on Labor Day, highlighting yet another reliable operation during the airline's peak season.

"I'm so proud of our Employees for staying focused on Safety and running a great operation this Labor Day, and all summer long," said Bob Jordan, President, CEO & Vice Chairman of the Board of Directors at Southwest Airlines. "It's further evidence of the progress we're making. We are pleased with the operational results and pleased with the travel demand we continue to see in the third quarter, thus far."

DALLAS, Sept. 3, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) announces the return of its highly-coveted Companion Pass® promotion. The airline's Companion Pass allows Rapid Rewards®1 Members to designate one person to fly with them for free2 every time the Member purchases or redeems points for a flight.

"We love offering this Companion Pass promotion because it allows our Members to experience one of the many benefits of our award-winning Rapid Rewards program," said Jennifer Bridie, Vice President of Marketing at Southwest Airlines. "Earlier this year, we launched Cash + Points, giving our Customers extra flexibility to make their points go further. And now, for the first time, Members can use their Rapid Rewards points, a combination of cash and points, or other eligible forms of payment to book qualifying flights that count toward this Companion Pass promotion."

Members have four opportunities to achieve tier status faster through Dec. 31, 2025

DALLAS, Aug. 28, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) announces the return of its limited-time tier acceleration promotion, making it easier for Southwest Rapid Rewards® Members to earn tier status through 2025. Starting today, Rapid Rewards®1 Members have four opportunities to accelerate their way to the highly coveted A-List or A-List Preferred tier status: qualifying flight purchases, qualifying flight purchases with Rapid Rewards points, Southwest Rapid Rewards Credit Cards from Chase purchases, and Rapid Rewards partner spend. Visit Southwest.com® for the full list of terms and conditions.

Reiterates Framework for a Comprehensive Solution at Southwest

Calls for Southwest Board to Put Company's Best Interests Ahead of Leadership's Personal Interests

Full Letter Available at StrongerSouthwest.com

WEST PALM BEACH, Fla., Aug. 26, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an investment representing an approximately 11% economic interest in Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest"), today sent an open letter to the shareholders of Southwest.

DALLAS, Aug. 22, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) extended its flight schedule today, allowing Customers to book travel through April 7, 2025. The airline is offering Customers new flight options including more international service and additional flights to get Customers to their favorite football games. The extended schedule also includes additional seasonal and redeye flying.

Airline Veteran to Guide Pricing and Yield Management in Carrier's Revenue Organization

DALLAS, Aug. 21, 2024 /PRNewswire/ - Southwest Airlines Co. (NYSE: LUV) has appointed Tim Lyon to a new role as Vice President Pricing, where he is focusing additional attention on the carrier's yield and pricing discipline. Lyon brings more than two decades of airline industry experience and will oversee the carrier's Pricing Department, coordinating closely with business units that guide Revenue Management and Sales.

DALLAS, Aug. 14, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") has the following response to an announcement made by one of its Shareholders, Elliott Investment Management L.P. ("Elliott"), stating its intention to replace a majority of the Southwest Airlines Board of Directors by nominating 10 candidates.

Since Elliott launched its campaign against Southwest Airlines, the Board has consistently sought to engage constructively and in the best interests of all Shareholders. Elliott has dismissed those efforts at every turn. After Elliott recently agreed to a meeting with Southwest Airlines in early September to discuss a collaborative resolution, including continuing significant Board refreshment and other governance enhancements, Elliott unilaterally decided instead to publicly announce its intention to replace a majority of Southwest Airlines' Board.

Elliott Intends to Nominate Ten Independent, Highly Qualified Candidates

Candidates Bring Best-in-Class Experience in Airlines, Technology, the Consumer and Hospitality Sectors, Labor Relations and Regulatory Oversight

Elliott Takes Key Step Toward Implementing Urgent Changes at Southwest

Full Materials Available at StrongerSouthwest.com

WEST PALM BEACH, Fla., Aug. 13, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that together have an approximately 11% economic interest in Southwest Airlines, Inc. (NYSE: LUV) ("Southwest" or the "Company"), today announced that it intends to nominate ten independent, highly qualified candidates (the "Candidates") to the Company's Board. Elliott plans to move forward expeditiously to formally nominate the Candidates.

DALLAS, July 31, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) Board of Directors declared a quarterly cash dividend of $.18 per share to Shareholders of record at the close of business on September 4, 2024, on all shares then issued and outstanding. The quarterly dividend will be paid on September 25, 2024.

SW-DSR

View original content:https://www.prnewswire.com/news-releases/southwest-airlines-declares-182nd-quarterly-dividend-302211112.html

SOURCE Southwest Airlines Co.

DALLAS, July 26, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) has new flights available for booking today as the carrier continues responding to Customer demand and preferences with additional service around popular events in Southwest® destinations, as well as redeye operations for the first time.

Flexibility for Football

After expanding our college football and professional football playbooks, Southwest Airlines®—the Official Airline of the Southeastern Conference—is kicking off additional round trip service for gridiron fans.

WEST PALM BEACH, Fla., July 25, 2024 /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), today released the following statement on behalf of Partner John Pike and Portfolio Manager Bobby Xu regarding Southwest Airlines Co. (NYSE: LUV) (the "Company" or "Southwest") and its revenue enhancement initiatives:

Southwest's announcement of revenue-enhancement initiatives, purporting to offer assigned seating, premium-seating options and redeye flights, comes more than a decade late, and after a 50% decline in its share price over the past three years. This new plan is being proposed by the same leadership team that has presided over a series of failed measures to improve performance, repeated operational missteps and poor financial results.

DALLAS, July 25, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) (the "Company") today reported its second quarter 2024 financial results:

Bob Jordan, President, Chief Executive Officer, & Vice Chairman of the Board of Directors, stated, "Our second quarter performance was impacted by both external and internal factors and fell short of what we believe we are capable of delivering. The Southwest Airlines Board of Directors, our Leadership Team, and I are all aligned and committed to serving the interests of and creating lasting value for our Shareholders, who have provided us with highly valuable and candid feedback on our performance and path forward. Our goal is to restore industry-leading margins and historical levels of Shareholder returns through our comprehensive plan to deliver transformational commercial initiatives, improved operational efficiency, and capital allocation discipline.

DALLAS, July 25, 2024 /PRNewswire/ -- As the next step in a continuing strategic transformation, Southwest Airlines Co. (NYSE: LUV) (the "Company") is announcing several new initiatives designed to elevate the Customer experience, improve financial performance, and drive Shareholder value. As part of its ongoing focus on product evolution, the airline is moving forward with plans to assign seats, offer premium seating options, redesign the boarding model, and introduce redeye flying.