SOUTHWEST AIRLINES CELEBRATES RECOGNITION ON FORTUNE WORLD'S MOST ADMIRED COMPANIES™ 2024 LIST

DALLAS, Feb. 13, 2024  /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) proudly celebrates its recognition on Fortune World's Most Admired Companies™ 2024 list¹. The carrier ranked No. 39 overall and has been consistently featured on the World's Most Admired Companies™ list since 2009.

"From our very beginning in 1971, Southwest Airlines has been celebrated for the way we care for our People, Customers, and communities, and it's an honor to be among Fortune World's Most Admired Companies™ again this year," Bob Jordan, Southwest Airlines President & Chief Executive Officer said. "Our Employees are so deserving of this recognition. Southwest is a unique Company that dared to believe in thinking differently and hiring the best People—and trusting that they, devoted to the cause, can do anything."

To create the list, Fortune collaborated with partner Korn Ferry to survey 15,000 senior executives, outside directors, and industry analysts to identify companies that enjoy the strongest reputations within their industry and across industries. Korn Ferry surveyed 1,500 companies this year in 660 industries in 29 countries.

The Fortune World's Most Admired Companies™ receive ratings in which corporate reputation and performance are measured against nine attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products and services, and global competitiveness. Some key accomplishments Southwest Airlines^® experienced this past year include:

• Continued to make progress on its two-billion-dollar plan to transform its Customer and Employee Experience. Since then, the carrier has:
  • Completed upgrades of WiFi² equipment fleetwide at the end of 2023 to offer an enhanced inflight internet browsing experience with more bandwidth and faster data.
  • Outfitted USB-A and USB-C power ports and larger overhead bins on all new 737 MAX 8 aircraft delivered to Southwest.  
  • Added new onboard offerings to its food and beverage menu and Inflight Entertainment Portal.
  • Delivered a robust portfolio of digital enhancements for Customers including Digital Bag Tracking and Online Baggage Check-In, as well as new internal tools for Employees to better enable them to serve Customers more efficiently.
  • Removed expiration dates from flight credits—an industry first³.
  • Launched free same-day standby for all Customers⁴.
  • Announced enhancements to the Southwest Rapid Rewards™ program designed to make it easier for Customers to earn tier status and added new premium drink benefits for A-List Preferred Members⁵.
• Hired more than 8,000 Employees, net of attrition, in 2023.
• Updated its sustainability strategy, Nonstop to Net Zero, and new environmental sustainability goals on the Company's path toward net zero carbon emissions by 2050.
• Enabled eligible corporate Customers to support the purchase of sustainable aviation fuel through Southwest Business Assist™.
• Published a Supplier Code of Conduct and began integrating sustainability questions in the Company's request for proposal process with its suppliers.
• Partnered with EcoVadis, a sustainability ratings platform for global supply chains, to increase transparency and measure the impact of the Company's supply chain.
• Awarded 17 scholarships to the 2023 Southwest Airlines Scholarship Program recipients, for a total commitment of $290,000 over four years.
• Welcomed Baylor University, Louisiana Tech, Middle Tennessee State University, and Oklahoma State University as university partners and Clay Lacy and Thrive Aviation as program partners in the airline's Pilot development and recruitment program: Destination 225º.

Visit Southwest.com/citizenship for more details about the Company's ongoing People, Performance, and Planet work.

¹ From Fortune, ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune is a registered trademark and Fortune World's Most Admired Companies™ is a trademark of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of Southwest Airlines.

² Due to licensing restrictions, on WiFi-enabled international flights, free live TV and iHeartRadio may not be available for the full duration of the flight. Internet access for $8 per device from takeoff to landing. Price is subject to change. May not be available for the full duration of the flight. In order to provide a top-notch Internet experience, we prohibit access to certain high-bandwidth applications and websites. We also prohibit access to certain obscene or offensive content.

³ Flight credits will be issued as long as the flight is canceled at least 10 minutes prior to the scheduled departure. Flight credits don't expire and are non-transferable. For travel booked with Rapid Rewards^® points: starting July 1, 2023 (12:00 a.m. CT), for Wanna Get Away^® or Wanna Get Away+^® reward travel reservations (booked with points): If a Customer doesn't cancel their reservation at least 10 minutes before the flight's original scheduled departure time, any points used for booking will be forfeited, along with any taxes and fees associated with their reward travel reservation.

⁴ Customers can list for same-day standby on an earlier flight via a Southwest Customer Service Agent at the airport or the Southwest app or mobile web. Customers will receive a message based on the contact preference selected during booking if they are cleared on the flight. Customers must change their flight or request to be added to the same-day standby list at least 10 minutes prior to the scheduled departure of their original flight or the no-show policy will apply. If using the app or mobile web for standby, Customers must list their name 30 minutes ahead of scheduled departure. The Customer will be required to pay any government taxes and fees associated with these itinerary changes but refunds will be provided. The Customer's original boarding position is not guaranteed. Southwest Business Customers booked through travel agencies may need to see a Southwest agent at the airport for both a same-day change or standby listing. See southwest.com/standby for more details.

⁵ On flights traveling 176 miles or more, A-List Preferred Members receive up to two complimentary premium drinks per leg. Flights traveling 175 miles or less only serve water. Drink coupons are subject to availability. Service may also be limited at Southwest's discretion. This coupon has no cash value. Drink coupon is void if altered, sold, purchased, brokered, or bartered. Non-exchangeable for other goods or services. Southwest Airlines reserves the right to discontinue its drink coupon program at any time. The coupon is invalid after the expiration date and will not be updated or replaced. Must be 21 years of age or older to consume alcoholic beverages. Alcohol purchased with drink coupons must be consumed onboard the aircraft.

ABOUT SOUTHWEST AIRLINES CO.   
Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline⁶. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its nearly 75,000⁷ People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among more than 137 million Customers carried in 2023. That formula for success brought industry-leading prosperity and 47 consecutive years⁸ of profitability for Southwest Shareholders (NYSE: LUV). Southwest leverages a unique legacy and mission to serve communities around the world including harnessing the power of its People and Purpose to put communities at the Heart of its success. Learn more by visiting Southwest.com/citizenship. As the airline with Heart, Southwest has set a goal to work toward achieving net zero carbon emissions by 2050. Southwest has also set near-term targets and a three-pillar strategy to achieve its environmental goals. Learn more by visiting Southwest.com/planet.

⁶ Based on U.S. Dept. of Transportation quarterly Airline Origin & Destination Survey since Q1 2021
⁷ Fulltime-equivalent active Employees
⁸ 1973-2019 annual profitability

SOURCE Southwest Airlines Co.