Southwest Airlines (LUV) Announces Proposed 55M Share Common Offering & $1B Convertible Senior Notes Offering Due 2025

Southwest Airlines (LUV) Prices 70M Share Upsized Common Offering at $28.50/Sh and $2B Offer of 1.25% Convertible Senior Notes Due 2025

April 29, 2020 5:53 AM EDT

Southwest Airlines Co. (NYSE: LUV) today announced it has priced its underwritten public offering of 70,000,000 shares of common stock of the Company at a public offering price of $28.50 per share (the "Common Stock Offering") and its underwritten public offering of $2.0 billion aggregate principal amount of 1.250% Convertible Senior Notes due 2025 (the "Convertible Notes" and such offering, the "Convertible Notes Offering"). The size of the Common... More

Southwest (LUV) Convertible Bond Offering Said Upsized to $1.75B, Range Cut to 1.5% to 2.0% Coupon - Bloomberg

April 28, 2020 3:19 PM EDT

Southwest (NYSE: LUV) Convertible Bond Offering Said Upsized to $1.75B, Range Cut to 1.5% to 2.0% Coupon - Bloomberg

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Southwest cuts Boeing jet deliveries after first quarterly loss in nine years

April 28, 2020 6:12 AM EDT

By Tracy Rucinski

(Reuters) - Southwest Airlines Co (NYSE: LUV) said on Tuesday it has agreed with Boeing Co (NYSE: BA) to sharply cut its 737 MAX delivery schedule through 2021 and is reviewing its order book as the coronavirus pandemic caused its first quarterly loss in nine years.

Southwest, which only operates Boeing 737s and is the world's largest customer of the grounded 737 MAX, will take no more than 48 new 737 MAX jets before Dec. 2021, a fraction of the 123 it had originally scheduled.

However, it has... More

Southwest Airlines (LUV) Tops Q1 EPS by 26c, Revenues Miss

April 28, 2020 6:07 AM EDT

Southwest Airlines (NYSE: LUV) reported Q1 EPS of ($0.15), $0.26 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $4.23 billion versus the consensus estimate of $4.42 billion.

First quarter net loss of $94 million and $.18 net loss per diluted shareExcluding special items1, net loss of $77 million and $.15 net loss per diluted shareFirst quarter operating revenues of $4.2 billion, down 17.8 percent year-over-yearCapital returns of $639 million to Shareholders through share repurchases and dividends during first quarter; dividends and share repurchase programs suspended until further noticeReturn on invested capital (ROIC)1 pre-tax of 18.1... More

Southwest Airlines (LUV) Said to Discuss Raising New Equity, Debt - Bloomberg

April 27, 2020 3:52 PM EDT

Southwest Airlines (NYSE: LUV) Said to Discuss Raising New Equity, Debt - Bloomberg

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U.S. airlines receive extra $9.5 billion in payroll support: U.S. Treasury

April 25, 2020 12:16 PM EDT

By Jonathan Landay and David Shepardson

WASHINGTON (Reuters) - The U.S. Treasury Department said on Saturday it has released $9.5 billion in additional funds from the Payroll Support Program to U.S. air carriers, bringing to $12.4 billion the total provided to the airline sector hit hard by the coronavirus pandemic.

In total, the government has disbursed grant funds to 10 major airlines and 83 smaller carriers.

Congress approved $25 billion in grants for payroll assistance for passenger airlines. Treasury required major airlines receiving more than $100 million in assistance to repay 30% in low-interest loans over 10 years and issue warrants... More

Trump Says U.S. Could Buy 4-5 Years of Tickets for Airlines - Bloomberg

April 24, 2020 12:42 PM EDT

Trump Says U.S. Could Buy 4-5 Years of Tickets for Airlines - Bloomberg

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