LUV - Southwest Airlines Co.

Southwest Airlines Co. (Southwest) is a passenger airline that provides scheduled air transportation in the United States. As of December 31, 2010, the Company had 548 Boeing 737 aircraft serving 69 cities in 35 states throughout the United States. The Company provides point-to-point, rather than hub-and-spoke, service. During the year ended December 31, 2010, approximately 73% of the Companys Customers flew non-stop, and the Companys average aircraft trip stage length was 648 miles with an average duration of approximately 1.8 hours. As of December 31, 2010, the Company served 460 non-stop city pairs. On September 26, 2010, the Company entered into a merger agreement providing for the Companys acquisition of AirTran Holdings, Inc. (AirTran). In November 2010, the Company terminated its agreement with WestJet to offer connecting service between the United States and Canada. In May 2011, the Company acquired AirTran Holdings, Inc.