Southwest Airlines recognizes employees with cash award

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Written by Linda Hohnholz

DALLAS, TX – Southwest Airlines announced today it will recognize Southwest and AirTran Employees with a one-time cash award of $200 each as a thank you for all their hard work related to the Company

DALLAS, TX – Southwest Airlines announced today it will recognize Southwest and AirTran Employees with a one-time cash award of $200 each as a thank you for all their hard work related to the Company achieving a 17.1 percent pre-tax return on invested capital, excluding special items (ROIC), for the 12 months ended June 30, 2014.

Gary C. Kelly, Chairman of the Board, President, and Chief Executive Officer, stated, “Operating an airline is the ultimate team sport, and this was a total team effort. Together we have weathered the worst decade in the history of commercial aviation. Together, we stepped up to the challenge. Together we avoided bankruptcy. Together, we have transformed Southwest.

“We are all one Team at Southwest Airlines, and when the Company does well, our Employees do well. Therefore, I am pleased to announce that we will be ‘Recognizing Our Internal Customers’ with a one-time, ROIC Cash Award of $200 each as a thank you for all their hard work. We are delighted to be able to recognize this milestone with our Employees.

“My hearty congratulations and thanks go to our hard-working and dedicated Employees for our outstanding second quarter results, which resulted in record quarterly profitsharing expense of $127 million. In comparison, the Company contributed approximately $228 million for the full year toward Employees’ profitsharing accounts in 2013. The 2013 profitsharing payment was the largest total dollar amount ever allocated directly to Employees in a single year. Southwest Airlines was the first in the industry to offer a profitsharing plan for Employees, setting the foundation for a long history of sharing profits with Employees and rewarding Employees for Company success. Our People earned this reward, tirelessly working toward our vision of becoming the World’s Most Loved, Most Flown, and Most Profitable Airline.”

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Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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