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biz_swaglance_090625.sPubDate = "6/25/2009 9:20:12 PM GMT";
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biz_swaglance_090625.appHeader = "southwest|KEY FACTS";
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biz_swaglance_090625[i-1].body = "Ticker symbol: LUV
Headquarters: Dallas
First flight: 1971
Traffic: About 3,300 daily departures from 65 airports. It carried 102 million passengers in the United States last year, more than any other airline. However, other U.S. carriers are larger by the number of miles flown by paying passengers, the standard measurement in the industry.
Financial results: The company, which has made money in 36 straight years, earned $178 million on revenue of $11.02 billion last year. That was down sharply from the 2007 profit of $645 million. The airline has lost money in the last three quarters, dating to mid-2008, due to slumping traffic and charges to cover the falling value of contracts used to hedge against a swing in fuel prices.
Fuel hedging: Southwest saved several billion dollars this decade by successfully hedging against rising fuel prices. However, those contracts soured when oil prices tumbled beginning in mid-2008. Southwest had to write down the value of its hedges, contributing to losses in the third and fourth quarters of last year.
Credit ratings: Southwest debt carries investment-grade ratings from the major credit agencies, while most rivals' debt is considered non-investment or junk status.
Fleet: Southwest had 539 aircraft as of April 16. They are all Boeing 737s, the only plane Southwest has ever used. The planes average 10 years in age. They average about six flights and 12 hours in the air every day.
Top markets: By daily departures, Southwest's busiest airports are Las Vegas, 234; Chicago Midway, 214; Phoenix, 187; Baltimore-Washington, 162; Houston Hobby, 135; Dallas Love Field, 134; Los Angeles International, 120; Oakland, Calif., 118; Denver, 115; and Orlando, Fla., 115.
Employees: About 35,000. The work force is the most heavily unionized in the airline industry. Southwest recently negotiated labor contracts that give most workers annual raises of about 3 percent, although pilots rejected a tentative contract. At the same time, Southwest is trying to reduce its ranks by offering bonuses to employees who quit. \"I want our employees to be paid well, but we just don't want too many employees,\" says CEO Gary Kelly.";
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