Southwest Airlines Co. operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2020, the company operated a total fleet of 718 Boeing 737 aircrafts; and served 107 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. Its services also cover destinations in Hilo on Hawaii; Cozumel, Mexico; Steamboat Springs, Colorado; Miami, Florida; Palm Springs, California; and Montrose (Telluride and Crested Butte), Colorado. In addition, the company provides inflight entertainment and connectivity services on Wi-Fi enabled aircrafts; and Rapid Rewards loyalty program that enables program members to earn points for dollars spent on Southwest base fares. In addition, the company provides a suite of digital platforms to support customers' travel needs, including Southwest.com, mobile website, and apps; and SWABIZ, an online booking tool. Further, it offers ancillary services, such as Southwest's EarlyBird Check-In, upgraded boarding, and transportation of pets and unaccompanied minors. The company was founded in 1967 and is headquartered in Dallas, Texas.
IPO Year:
Exchange: NYSE
Website: southwest.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/15/2024 | $28.00 | Sell | Goldman |
| 11/4/2024 | $33.00 | Neutral | BofA Securities |
| 10/9/2024 | $24.00 → $32.00 | Underperform → Hold | Jefferies |
| 9/30/2024 | $19.00 → $25.00 | Hold | TD Cowen |
| 9/3/2024 | $30.00 → $35.00 | In-line → Outperform | Evercore ISI |
| 7/17/2024 | $26.00 → $19.00 | Hold | TD Cowen |
| 6/10/2024 | $26.00 | Sell | Melius |
| 5/28/2024 | Buy → Hold | Argus | |
| 4/29/2024 | $28.00 → $20.00 | Hold → Underperform | Jefferies |
| 4/26/2024 | $26.00 → $25.00 | Hold | TD Cowen |
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Goldman resumed coverage of Southwest Air with a rating of Sell and set a new price target of $28.00
BofA Securities resumed coverage of Southwest Air with a rating of Neutral and set a new price target of $33.00
Jefferies upgraded Southwest Air from Underperform to Hold and set a new price target of $32.00 from $24.00 previously
TD Cowen reiterated coverage of Southwest Air with a rating of Hold and set a new price target of $25.00 from $19.00 previously
Evercore ISI upgraded Southwest Air from In-line to Outperform and set a new price target of $35.00 from $30.00 previously
TD Cowen reiterated coverage of Southwest Air with a rating of Hold and set a new price target of $19.00 from $26.00 previously
Melius reiterated coverage of Southwest Air with a rating of Sell and set a new price target of $26.00
Argus downgraded Southwest Air from Buy to Hold
Jefferies downgraded Southwest Air from Hold to Underperform and set a new price target of $20.00 from $28.00 previously
TD Cowen reiterated coverage of Southwest Air with a rating of Hold and set a new price target of $25.00 from $26.00 previously
Southwest Rapid Rewards Premier Credit Card ranks No. 1, and the Priority Credit Card ranks No. 2 in Customer Satisfaction DALLAS, Nov. 19, 2024 /PRNewswire/ -- The Southwest Rapid Rewards® Premier and Priority Credit Cards issued by Chase1 are recognized for their commitment to Cardmembers by being named the top two Co-Branded Airline Credit Cards for Customer Satisfaction in the J.D. Power 2024 U.S. Credit Card Customer Satisfaction Study2. The Premier Credit Card is first for Customer Satisfaction among Airline Co-Branded Credit Cards, and the Priority Credit Card is second.
DALLAS, Nov. 4, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) ("Southwest" or the "Company") today announced the appointment of Rakesh Gangwal as independent Chair of the Board of Directors and named new Board Committee Chairs, effective immediately: Lisa Atherton will serve as Chair of the Compensation CommitteeDouglas Brooks will serve as Chair of the Audit CommitteeDavid Hess will continue to serve as Chair of the Safety and Operations CommitteeChris Reynolds will serve as Chair of the Nominating and Corporate Governance CommitteeGregg Saretsky will serve as Chair of the Finance CommitteeGangwal said, "We are embarking on the next era of change at Southwest as we build upon its
Airline provides a critical lifeline to patients seeking medical care by donating 13,000 tickets for round trip air travel DALLAS, Nov. 1, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) is celebrating 17 years of partnering with nonprofit hospitals and medical transportation organizations to provide round trip air travel for patients and caregivers who are unable to access care in moments when they need it most. The Southwest Airlines® Medical Transportation Grant Program aims to ease the financial burden on patients and their families by helping to make healthcare needs accessible and connecting patients to the life-saving care they need with free transportation to medical facilitie
Southwest again expands its redeye offerings High-demand seasonal routes for summer travel aboundDALLAS, Oct. 30, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) today extended its schedule through Aug. 4, 2025, offering Customers a head start to book next summer's vacation. The schedule includes additional redeye flights, popular seasonal routes, and more nonstop flights connecting Customers to high-demand destinations throughout the Southwest® network. Ramping up Redeyes With today's schedule extension, Southwest Airlines® welcomes 13 additional redeye flights. The airline's summer 2025 schedule now includes 33 overnight flights with service from Hawaii and the West Coast traveling
DALLAS, Oct. 28, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) introduced a new bamboo cup for inflight cold beverages and a wood stir stick with the carrier's iconic Heart branding. Both the new cup and stir stick are part of the carrier's ongoing work toward its goal to eliminate, where feasible, single-use plastics from inflight service by 20301. Southwest® expects the new items to reduce its inflight single-use plastics by more than 1.5 million pounds annually2. The airline continues to explore new sourcing initiatives to address single-use plastic packaging acros
Reconstituted Board to Select a New Independent Chair Gregg Saretsky to Chair Refreshed Finance Committee Company Enters Into Cooperation and Information Sharing Agreements with Elliott DALLAS, Oct. 24, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) ("Southwest" or the "Company") today announced the appointments of David Cush, Sarah Feinberg, Dave Grissen, Gregg Saretsky and Patricia Watson as independent directors of the Board in connection with Cooperation and Information Sharing Agreements (the "Agreements") reached with Elliott Investment Management L.P. (together with its affiliates, "Elliott"). In addition, Pierre Breber, former CFO of Chevron, has also been appointed to the Bo
DALLAS, Oct. 24, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its third quarter 2024 financial results: Net income of $67 million, or $0.11 per diluted shareNet income, excluding special items1, of $89 million, or $0.15 per diluted shareRecord third quarter operating revenues of $6.9 billionLiquidity2 of $10.4 billion, well in excess of debt outstanding of $8.0 billionAnnounced a $250 million accelerated share repurchase program under the Company's $2.5 billion share repurchase authorizationBob Jordan, President, Chief Executive Officer, & Vice Chairman of the Board of Directors, stated, "It's an exciting time for us as we execute on our 'Southwest.
DALLAS, Oct. 23, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) invites you to listen to a live webcast of its second quarter 2024 financial results. Details are as follows: When: Thursday, October 24, 2024 at 12:30 PM Eastern Time Who: Bob Jordan, President and Chief Executive Officer Andrew Watterson, Chief Operating Officer Tammy Romo, Executive Vice President and Chief Financial Officer Web Address: http://www.southwestairlinesinvestorrelations.com/ To access the live audio webcast and subsequent replay, click on the link above, or go to www.southwest.com and click on "Investor Relations" under the "About Southwest" menu at the bottom of the page. The audio webcast can be found
Customers onboard Flight #1989 from Nashville to Miami on Oct. 17 enjoyed a one-of-a-kind performance highlighting Rose's work they knew "All Too Well" DALLAS, Oct. 18, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) hosted a surprise concert on Flight #1989 from Nashville to Miami with GRAMMY Award-winning songwriter Liz Rose, who was traveling to watch the songs she wrote with Taylor Swift take the stage at the global superstar's Miami show. This Southwest® flight took place on Oct. 17 and celebrates the 100th concert of the airline's signature Live at 35® program that started in 2011, which brings live music performances onboard at 35,000 feet. "We can't think of a better way to ce
IRVING, Texas, Oct. 17, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE:DAR), the world's leading company turning food waste into sustainable products and producer of renewable energy, today announced that its 50/50 joint venture Diamond Green Diesel (DGD) will provide supply of neat sustainable aviation fuel (SAF), to be blended with conventional jet fuel, for delivery to Chicago Midway International Airport (MDW). As part of the two-year supply agreement between Valero Marketing and Supply Company (Valero), a subsidiary of Valero Energy Corporation (NYSE:VLO) and Southwe
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Southwest Airlines Co (NYSE:LUV) shares are trading lower after the airlines reported second-quarter 2024 results. LUV reported operating revenue increase of 4.5% year-over-year to $7.354 billion, beating the consensus of $7.32 billion. 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.” Adjusted EPS was $0.58, down from $1.19 last year, above the consensus $0.51. The airline’s adjusted operating income fell 54.5% to $405 million, operating expenses increased by 13% YoY to $6.95 billion.
Sentiment continues to be jittery, with the major index futures priming for a lower opening on Thursday as traders look ahead to the first read of second-quarter GDP data and more earnings. The tech space could once again drag the broader market after a few disappointing earnings reports from the likes of Franco-Italian chipmaker STMicroelectronics N.V. (NYSE:STM), which predominantly supplies to the automotive end market, and semiconductor test-equipment company Teradyne, Inc. (NASDAQ:TER). Traders may also stay glued to second-quarter GDP data to confirm the slowdown suggested by some recent data does not point to a hard landing. That said, bond yields are dipping as the market, factori
Southwest Airlines (NYSE:LUV) reported quarterly earnings of $0.58 per share which beat the analyst consensus estimate of $0.51 by 13.73 percent. The company reported quarterly sales of $7.40 billion which beat the analyst consensus estimate of $7.32 billion by 1.06 percent. This is a 5.16 percent increase over sales of $7.04 billion the same period last year.
Southwest Airlines Co. (NYSE:LUV) will release its financial results for the second quarter, before the opening bell on Thursday, July 25. Analysts expect the Dallas, Texas-based company to report quarterly earnings at 51 cents per share, up from $1.09 per share in the year-ago period. Southwest Airlines is expected to post revenue of $7.32 billion, compared to $7.04 billion a year earlier, according to data from Benzinga Pro. In June, a Southwest Airlines flight took off from a closed runway, prompting investigations from U.S. safety officials. Southwest Airlines shares fell 2.1% to close at $26.61 on Wednesday. Benzinga readers can access the latest analyst ratings on the Analy
Two airline companies will report quarterly financial results Thursday, before market open. The results and comments on the Microsoft Outage could impact the entire airline sector going forward. Microsoft Outage: An update from CrowdStrike Holdings (NASDAQ:CRWD) caused chaos for Microsoft Corporation (NASDAQ:MSFT) cloud services and products used by corporations across various sectors from Friday, July 19 onward. The airline sector was one of the areas hardest hit, with thousands of planes grounded and millions of customers unable to travel on their scheduled flights. The outage will likely be a key topic when both American Airlines Group (NASDAQ:AAL) and Southwest Airlines Co (NYSE
Delta Air Lines (NYSE:DAL) CEO Ed Bastian said the airline will need two more days to fully recover from a global cyber outage that has significantly disrupted its operations. The outage, which began on Friday, has canceled over 4,000 flights and left thousands of passengers stranded, Reuters reports. The outage severely affected Delta Airlines, with over 800 flights canceled on Monday alone, representing about 21% of its scheduled flights for the day. Reuters reported that other major U.S. airlines have seen their disruptions largely subside. A software update by cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:CRWD) caused system issues for Microsoft Corp (NASDAQ:MSFT) custo
- Reuters Citing Statement
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DALLAS, Nov. 4, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) ("Southwest" or the "Company") today announced the appointment of Rakesh Gangwal as independent Chair of the Board of Directors and named new Board Committee Chairs, effective immediately: Lisa Atherton will serve as Chair of the Compensation CommitteeDouglas Brooks will serve as Chair of the Audit CommitteeDavid Hess will continue to serve as Chair of the Safety and Operations CommitteeChris Reynolds will serve as Chair of the Nominating and Corporate Governance CommitteeGregg Saretsky will serve as Chair of the Finance CommitteeGangwal said, "We are embarking on the next era of change at Southwest as we build upon its
Reiterates Efforts to Reach Constructive Resolution with Elliott Outlines Actionable Steps Taken to Position Southwest for the FutureShareholders Not Required to Take Immediate ActionDALLAS, Oct. 14, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) ("Southwest" or the "Company") today confirmed that Elliott Investment Management L.P. ("Elliott") requested a Special Meeting of Shareholders to consider Elliott's proposals, including to remove without cause eight members of Southwest's Board of Directors (the "Board") and elect eight Director candidates chosen by Elliott, which appears designed to result in full control of the Board by Elliott's nominees. Southwest's Board issued the foll
DALLAS, Sept. 26, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) (the "Company") has appointed Robert "Bob" Fornaro as a member of the Board, effective immediately. Fornaro is an accomplished airline executive with four decades of experience in the industry. He previously served on the Board of Directors of Spirit Airlines beginning in May 2014 until September 2019 and as President and Chief Executive Officer from January 2016 until December 2018, during which time he led the low-cost carrier through a period of substantial growth and transformation. Previously, he was President and Chief Executive Officer of AirTran Holdings Inc. from November 2007 until May 2011. Fornaro served as
Has Received Overwhelmingly Supportive Feedback about Call for Leadership Change Responds to Company's Adoption of Shareholder-Unfriendly "Poison Pill" Reiterates Measures Necessary to Improve Performance Letter is available at StrongerSouthwest.com WEST PALM BEACH, Fla., July 8, 2024 /PRNewswire/ -- Elliott Investment Management L.P. (and its affiliates, "Elliott"), today sent a letter to the Board of Southwest Airlines Co. (NYSE:LUV) (the "Company" or "Southwest") summarizing the feedback received and key events that have occurred since the publication last month of Elliott's initial letter and presentation calling for leadership change.
DALLAS, July 8, 2024 /PRNewswire/ -- The Board of Directors of Southwest Airlines Co. (NYSE:LUV) ("Southwest") (the "Company") has appointed Rakesh Gangwal as a member of the Board, effective July 7. Gangwal has deep and extensive airline industry experience and is the co-founder of India's largest airline by fleet size and passengers carried, InterGlobe Aviation, known as IndiGo. Before co-founding IndiGo in 2006, Gangwal served as Chairman, President, and Chief Executive Officer of Worldspan Technologies, a provider of technology and information services to the travel and transportation industry. Prior to his time at Worldspan, Gangwal served as President and Chief Executive Officer of US
DALLAS, June 10, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) today reiterated its willingness to meet with Elliott Investment Management L.P. ("Elliott") to further discuss the airline's strategy to enhance value for all Shareholders: Southwest Airlines maintains an open dialogue with our Shareholders and values their perspectives related to enhancing Shareholder value. We were first contacted yesterday by Elliott. Our Board and Executive Leadership Team are thoughtfully reviewing Elliott's letter and presentation and look forward to further conversations with Elliott to better understand its view on the Company. We are confident that Southwest Airlines has the right strategy, th
DALLAS, April 5, 2024 /PRNewswire/ -- As disclosed in the Company's Proxy Statement released today, the Southwest Airlines Co. (NYSE:LUV) (the "Company") Board of Directors nominated 14 candidates to stand for election at the Company's Annual Meeting of Shareholders on May 15, 2024. As previously announced, the Board is excited to nominate Lisa Atherton to join the Board as a new Director. Directors Ron Ricks and John Montford will not stand for reelection. "On behalf of the Board, I want to thank Ron and John for their long-standing commitment to Southwest Airlines. They both made an immeasurable positive impact on the Board and our Company, and we owe them a tremendous debt of gratitude
DALLAS, Dec. 8, 2023 /PRNewswire/ -- The Board of Directors of Southwest Airlines Co. (NYSE:LUV) has named Lisa Atherton as a candidate to join the Board. Atherton, along with other Board nominees, will be on the ballot at the Company's Annual Meeting of Shareholders on May 15, 2024. Atherton is the President and Chief Executive Officer of Bell, a Textron Inc. (NYSE:TXT) company, and a member of Textron's Executive Leadership Team. She oversees a multibillion-dollar business that provides innovative products for defense and commercial customers across the globe. Prior to assuming her role as President and Chief Executive Officer, Atherton served as the Chief Operating Officer of Bell. In 20
DALLAS, July 17, 2023 /PRNewswire/ -- The Board of Directors of Southwest Airlines Co. (NYSE:LUV) has appointed Roy Blunt as a member of the Board, effective July 16. Blunt has been the Chairman of the Leadership Strategies Advisory Services Group in the Washington, D.C. office of Husch Blackwell Strategies, a government affairs advisory firm, since April. He previously served as a United States Senator from the State of Missouri (2011 to 2023), and as U.S. Representative for Missouri's 7th congressional district (1997 to 2011). In the Senate, Blunt's committee assignments included the Commerce Subcommittee on Aviation, Operations, and Innovation; the Committee on Intelligence; and the Appro
DALLAS, Feb. 1, 2023 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) today announced the promotion of Lauren Woods from Vice President of Technology to Senior Vice President and Chief Information Officer, and she will report to Chief Administration & Communications Officer Linda Rutherford. Since joining Southwest® in 2010, Woods has led key initiatives across Southwest's Technology Department, supporting the Company's Digital and Customer Channels and various Operations Teams and Platforms. She established cloud infrastructure, creating a new development and delivery platform for complex application ecosystems. In her new role, Woods will play an important role in managing the airline's t
DALLAS, Oct. 24, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its third quarter 2024 financial results: Net income of $67 million, or $0.11 per diluted shareNet income, excluding special items1, of $89 million, or $0.15 per diluted shareRecord third quarter operating revenues of $6.9 billionLiquidity2 of $10.4 billion, well in excess of debt outstanding of $8.0 billionAnnounced a $250 million accelerated share repurchase program under the Company's $2.5 billion share repurchase authorizationBob Jordan, President, Chief Executive Officer, & Vice Chairman of the Board of Directors, stated, "It's an exciting time for us as we execute on our 'Southwest.
Reimagines core product to meet evolving Customer preferences and increase revenue opportunitiesLaunches new commercial initiatives to enhance Customer Experience and drive value while preserving flexible policies like bags fly free1Expects to deliver in 2027: approximately $4 billion2 in cumulative incremental earnings before interest and taxes (EBIT) contribution and after-tax return on invested capital (ROIC) of 15 percent or greater, well above weighted average cost of capital (WACC)Board approves $2.5 billion share repurchase programDALLAS, Sept. 26, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) ("Southwest®" or the "Company") today will host an Investor Day briefing in Dallas
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 25, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its second quarter 2024 financial results: Net income of $367 million, or $0.58 per diluted shareNet income, excluding special items1, of $370 million, or $0.58 per diluted shareRecord quarterly operating revenues of $7.4 billionLiquidity2 of $11.0 billion, well in excess of debt outstanding of $8.0 billionBob 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,
Board Acts in Response to a Significant Accumulation by Elliott Investment Management Protects Value of All Shareholders' Investments in Southwest Airlines DALLAS, July 3, 2024 /PRNewswire/ -- The Southwest Airlines Co. (NYSE:LUV) Board of Directors today announced that it has approved the adoption of a limited-duration Shareholder rights plan ("Rights Plan"). The Rights Plan is effective immediately and will expire in one year. Any extension would be subject to prior approval by the Company's Shareholders. The Board, in consultation with its advisors, adopted the Rights Plan in response to the public announcement by Elliott Investment Management L.P. (together with its affiliates, "Elliot
DALLAS, May 15, 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 June 19, 2024, on all shares then issued and outstanding. The quarterly dividend will be paid on July 10, 2024. SW-DSR View original content:https://www.prnewswire.com/news-releases/southwest-airlines-declares-181st-quarterly-dividend-302146449.html SOURCE Southwest Airlines Co.
DALLAS, April 25, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its first quarter 2024 financial results: Net loss of $231 million, or $0.39 loss per diluted shareNet loss, excluding special items1, of $218 million, or $0.36 loss per diluted shareRecord first quarter operating revenues of $6.3 billionLiquidity2 of $11.5 billion, well in excess of debt outstanding of $8.0 billionBob Jordan, President and Chief Executive Officer, stated, "While it is disappointing to incur a first quarter loss, we exited the quarter with healthy profits and margins in the month of March. We are focused on controlling what we can control and have already taken swift acti
DALLAS, March 28, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) announces the acquisition of SAFFiRE Renewables, LLC (SAFFiRE) as part of the investment portfolio of its wholly owned subsidiary Southwest Airlines Renewable Ventures, LLC (SARV). SARV is dedicated to creating more opportunities for Southwest® to obtain scalable sustainable aviation fuel (SAF). SAFFiRE is part of a project supported by the Department of Energy (DOE) to develop and produce scalable renewable ethanol that can be upgraded into SAF. SAFFiRE expects to utilize technology developed at the DOE's National Renewable Energy Laboratory (NREL) to convert corn stover, a widely available agricultural residue feedst
DALLAS, Jan. 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 March 6, 2024, on all shares then issued and outstanding. The quarterly dividend will be paid on March 27, 2024. SW-DSR View original content:https://www.prnewswire.com/news-releases/southwest-airlines-declares-180th-quarterly-dividend-302049611.html SOURCE Southwest Airlines Co.
DALLAS, Jan. 25, 2024 /PRNewswire/ -- Southwest Airlines Co. (NYSE:LUV) (the "Company") today reported its fourth quarter and full year 2023 financial results: Fourth quarter net loss of $219 million, or $0.37 loss per diluted shareFourth quarter net income, excluding special items1, of $233 million, or $0.37 per diluted shareFull year net income of $498 million, or $0.81 per diluted shareFull year net income, excluding special items1, of $986 million, or $1.57 per diluted shareRecord fourth quarter and full year operating revenues of $6.8 billion and $26.1 billion, respectivelyLiquidity2 of $12.5 billion, well in excess of debt outstanding of $8.0 billionBob Jordan, President and Chief Exe