southwest airlines

Early losses and financial troubles
The rest of 1971 and 1972 saw operating losses. One of the four aircraft was sold to Frontier Airlines of Denver and the proceeds used to make payroll and cover other expenses. Southwest continued to operate a schedule predicated on 4 aircraft but using only 3, and in so doing the "ten minute turn" was born, and was the standard ground time for many years.
Southwest turned its first annual profit in 1973, and has done so every year since УЂТ�Т� a record unmatched in commercial airline industry history. Southwest has used financial techniques to bolster its profitability and counteract many of the fiscal disadvantages of operating an airline.
By 1979 Southwest served all of the cities currently served in Texas, plus Beaumont and interstate service began to New Orleans, Oklahoma City and Tulsa was added shortly thereafter. In 1981 Southwest co-launched the 737-300 with USAir. In 1982 the first expansion beyond the Texas area took Southwest to the west coast adding Phoenix, Las Vegas and San Diego. In 1984 the 737-300 was placed into service. Chicago Midway and St. Louis service began in March, 1985, spreading low-fare service into Midwest markets.

Hedging fuel
Southwest has a longtime program to hedge fuel prices. Southwest has purchased fuel options for years in advance to smooth out fluctuations in fuel costs. Southwest substantially increased its hedging in 2001 in response to projections of increased crude oil prices. The use of these hedges helped Southwest maintain its profitability during the aftermath of the September 11, 2001 attacks and the oil shocks related to the Iraq War and later Hurricane Katrina. According to its last annual report here is the company's fuel hedge for forward years ("approximate" per barrel basis, as of mid-January): 2007 is 95% hedged at $50/barrel; 2008 is 65% hedged at $49/barrel; 2009 is over 50% hedged at $51/barrel; 2010 is over 25% hedged at $63/barrel; 2010 is over is 15% hedged at $64/barrel; 2012 is 15% hedged at $63/barrel.

Southwest.com
On March 16th, 1995, Southwest became one of the first airlines to have a web page on the Internet. Originally called the "Southwest Airlines Home Gate", customers could view schedules, a route map, and company information.[7] The company consistently rejects syndicating their fares to fare search sites such as expedia.com or orbitz.com. [8]
Southwest.com is the number one airline web site for online revenue, according to PhoCusWright. Nielsen/Netratings also reports that southwest.com is the largest airline site in terms of unique visitors. [9] In 2006, 70 percent of flight bookings and 73 percent of revenue was generated from bookings on southwest.com. As of December 2006, 55 percent of Southwest passengers checked in for their flights online. [10]

The Wright Amendment


Main article: Wright Amendment


After the opening of Dallas-Fort Worth Regional Airport, which was the original name of Dallas-Fort Worth International Airport in 1974, Southwest was the only airline to remain at Love Field.
When airline deregulation came in 1978, Southwest began planning to offer interstate service from Love Field. This caused a number of interest groups affiliated with Dallas-Ft. Worth Airport, including the city of Fort Worth, to push the Wright Amendment through Congress to restrict such flights.
Under the restrictions of the amendment Southwest, and all other airlines, were barred from operating, or even ticketing passengers on flights from Love Field to destinations beyond the states immediately surrounding Texas. In effect, to travel through Love Field, a passenger and luggage would have to deplane and fly on a separate ticket, on a separate aircraft. The Wright Amendment left one loophole, that aircraft configured with 56 or fewer seats are exempt from the Wright Amendment. In 2000 Legend Airlines attempted to operate long distance business-class flights using older DC-9s with 56 seats, but did not have the resources to survive American's legal and marketing attacks, and quickly ceased operations. Southwest has not used the 56 seat loophole, even with its market strength at Love Field and the availability of more modern regional jets such as the CRJ-700/900 and the Embraer ERJ 145 family.
Southwest's efforts to repeal or even alter the Wright Amendment had been met with opposition from American Airlines and Dallas Ft. Worth International Airport. Both American Airlines and DFW contended that repeal of the Wright Amendment restrictions would cripple DFW, while Southwest contended that repeal of the Wright Amendment would be beneficial to both Love Field and DFW. Continental Airlines has a successful hub and spoke operation at Houston Bush Intercontinental Airport despite unrestricted competition from Southwest at Houston Hobby Airport.
In 1997, Southwest's effort began to pay off with the Shelby Amendment which added the states of Alabama, Mississippi, and Kansas to the list of permissible destination states. Southwest now offers service between Dallas Love Field and Jackson, MS, via a connection at Houston, which it couldn't do prior to the enactment of the Shelby Amendment.
Since late 2004, Southwest has been actively seeking the full repeal of the Wright Amendment restrictions. In late 2005, Missouri was added to the list of permissible destination states via a transportation appropriations bill. New service from Love Field to St. Louis and Kansas City quickly started in December of 2005.
At a June 15, 2006 joint press conference held by the City of Dallas, the City of Ft. Worth, Dallas-Ft. Worth Airport, American Airlines, and Southwest Airlines, the said parties announced a tentative agreement on how the Wright Amendment was to be phased out. Both the U.S. Senate and House of Representatives passed Wright-related legislation on September 29, 2006, and it was signed into law by the President on October 13, 2006. The new law became effective on October 16, 2006, when the FAA Administrator notified Congress that any new aviation operations occurring as a result of the new law could be accommodated without adverse effect to the airspace. Southwest started selling tickets under the new law on October 19, 2006. Highlights of the agreement are the immediate elimination of through-ticketing prohibitions, and unrestricted flights to domestic destinations 8 years after the legislation takes effect. This agreement was a resounding success for Southwest Airlines because of eventual nationwide service was possible and the law codified the maximum number of gates at Love Field, of which Southwest controlled all except 4 gates. American and Continental control 2 gates. The future of the Legend Airlines terminal for use by commercial airlines is in doubt because of the limit on number of gates. The new legislation brings new questions of monopolies and unfair restraint of trade replacing questions which have been resolved by the legislation.
Southwest remains the dominant passenger airline at Love Field, maintains its headquarters, hangars, and flight simulators adjacent thereto, and reflects its ties to Love Field in its ticker symbol (LUV).
Despite the restrictions on its home base, Southwest proceeded to build a successful business on an unusual model: flying multiple short, quick trips into the secondary (more efficient and less costly) airports of major cities, using primarily only one aircraft type, the Boeing 737.
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