SOUTHWEST AIRLINES CELEBRATES 10TH ANNIVERSARY OF AWARD-WINNING SUSTAINABILITY PROGRAM: REPURPOSE WITH PURPOSE
Get Alerts LUV Hot Sheet
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
Revenue Growth %: +18.5%
Join SI Premium – FREE
Program fosters lifelong social impact with nonprofit organizations and has kept more than 1.4 million pounds of aircraft seat leather out of landfills
"We're proud of the progress we're making alongside our community partners to find new uses for aircraft seat leather through sustainable solutions," said
The program also complements sustainability efforts defined by Southwest in its Nonstop to Net Zero plan which outlines its path to net zero carbon emissions by 20501 and a more sustainable future. The carrier strives to increase circularity2 throughout its operations through sourcing, recycling, and upcycling.
The Repurpose with Purpose program has:
- Rerouted more than 1.4 million pounds of leather away from landfills to nonprofit partners that help provide employment, skills training, and workforce development programs.
- Donated more than
$2 million in grants to nonprofit partners across the globe. - Generated more than
$1 million in revenue since 2017 for nonprofit partners from the sale of upcycled products. - Been named Runner Up in the Eco-Innovator category for the Boston College Center for Corporate Citizenship 2024 Innovation Awards, recognizing Southwest as a company that has marshaled the financial and human resources at its disposal to address an environmental issue affecting or relating to that company's core competencies.
- Collaborated with 12 global nonprofit partners to foster community solutions and expanded opportunities for thousands of individuals, such as:
- Wearsos, an organization focused on transforming lives through upcycling that provides employment opportunities for marginalized people, championing women empowerment, and creating impact within communities in
Costa Rica . This spring, Wearsos, launched their e-commerce site through Southwest support; - Longtime Repurpose with Purpose partner, Rethreaded, an organization that harnesses the power of business, community, and time by employing and providing wrap-around services for women who survived human trafficking. Rethreaded has sold more than 38,000 items created using Southwest leather, generating more than
$1 million in revenue to support employment of more than 80 women who are survivors of human trafficking; Houston -based nonprofit design house, Magpies & Peacocks, dedicated to the collection, curation, and sustainable reuse of post-consumer textiles to disrupt the cycle of waste in the fashion industry; and- Help Heal Veterans, an organization providing therapeutic craft kits since 1971 to veterans and active-duty military that helps healing through creativity from the visible and invisible wounds of war. Help Heal Veterans has created more than 200,000 kits since 2018 using Southwest aircraft seat leather.
- Wearsos, an organization focused on transforming lives through upcycling that provides employment opportunities for marginalized people, championing women empowerment, and creating impact within communities in
Southwest will mark the milestone anniversary through several events and showcases this year. At Employee events earlier this year, Eichinger wore custom-created outfits designed by Magpies & Peacocks, featuring upcycled Southwest Airlines® aircraft seat leather. In March, Southwest invited Wearsos to participate in
Customers traveling this year also can see pieces created by Southwest Repurpose with Purpose partners at airport exhibits across the country. Exhibits at
For more on the Southwest Repurpose with Purpose program, visit southwest.com/repurposewithpurpose.
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
1 | Our net zero by 2050 goal includes Scope 1, Scope 2, and Scope 3 Category 3 emissions only and excludes any emissions associated with non-fuel products and services, such as inflight service items. |
2 | Circularity at Southwest means working towards reducing waste through maximizing the value of resources by keeping products and materials in circulation as long as possible—this includes reusing, recycling, and considering what happens to a product at the end of its lifecycle from the time that we start to source it. |
3 | Based on U.S. Dept. of Transportation quarterly Airline Origin & Destination Survey since Q1 2021 |
4 | Fulltime-equivalent active Employees |
5 | 1973-2019 annual profitability |
View original content:https://www.prnewswire.com/news-releases/southwest-airlines-celebrates-10th-anniversary-of-award-winning-sustainability-program-repurpose-with-purpose-302131390.html
SOURCE Southwest Airlines Co.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Harbour BioMed and Kelun-Biotech Announce NMPA Approval of IND Application for HBM7575/SKB575 for the Treatment of Asthma
- Sanctuary Wealth's Flexibility Drives Continued Growth With $5.9 Billion Expansion in First Half
- Sweet Escape: Realtor.com®'s June Luxury Housing Report Maps America's Vacation-Home Hot Spots
Create E-mail Alert Related Categories
PRNewswire, Press ReleasesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!



Tweet
Share