DALLAS, Feb. 13, 2019 /PRNewswire/ -- Southwest
Airlines Co. (NYSE: LUV) announced this week that it will share
$544 million with its Employees
through the Company's ProfitSharing Plan. This reward equals
approximately 10.8 percent of each eligible Employee's eligible
compensation.
This is Southwest's 45th consecutive ProfitSharing
award, starting with the first ProfitSharing payout in 1974. The
Company will pay part of the award to the retirement plan and part
in cash. Most Employees will receive 10 percent of eligible
compensation as a contribution to the ProfitSharing Plan and the
remainder in cash, both of which will be paid on March 15, 2019. Some Employees will receive the
entire ProfitSharing award as a contribution to their retirement
plan accounts as specified in their collective bargaining
agreement.
"Our People are our greatest asset and they deserve all the
credit for our continued success," said Gary Kelly, Chairman of the Board and Chief
Executive Officer of Southwest Airlines. "The vast majority of our
Employees describe their work as 'a calling,' and it's an honor to
be able to recognize them for their passion, dedication, and their
contributions."
The 2018 ProfitSharing award is the third highest in Company
history.
ABOUT SOUTHWEST AIRLINES CO.
In its 48th year of
service, Dallas-based Southwest
Airlines Co. (NYSE: LUV) continues to differentiate itself
from other air carriers with exemplary Customer Service delivered
by more than 58,000 Employees to a Customer base topping 120
million passengers annually. Southwest became the nation's largest
domestic air carrier in 2003 and maintains that ranking based on
the U.S. Department of Transportation's most recent reporting of
domestic originating passengers boarded. In peak travel seasons,
Southwest operates more than 4,000 weekday departures among a
network of 99 destinations in the United
States and 10 additional countries. Southwest has announced
its intention to serve Hawaii,
subject to requisite governmental approvals.
Southwest coined Transfarency® to
describe its purposed philosophy of treating Customers honestly and
fairly, and low fares actually staying low. Southwest is the only
major U.S. airline to offer bags fly free® to
everyone (first and second checked pieces of luggage, size and
weight limits apply, some carriers offer free checked bags on
select routes or in qualified circumstances), and there are no
change fees, though fare differences might apply.
Book Southwest Airlines' low fares online at Southwest
Airlines or by phone at 800-I-FLY-SWA.
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SOURCE Southwest Airlines Co.