Southwest Airlines reported record revenue of $27.5 billion for 2024, with a net income of $465 million. The fourth quarter saw $6.9 billion in revenue and $261 million in net income. Excluding special items, net income for the year was $597 million. The airline maintained strong liquidity at $9.7 billion and returned $680 million to shareholders through dividends and buybacks.

Looking ahead, Southwest expects a 1-2% capacity increase in 2025 and plans to improve cost efficiency, aiming for an operating margin of 3-5%. It also announced a $750 million accelerated share repurchase program. Fuel costs were managed effectively, with hedging strategies in place. The company remains focused on optimizing its operations, expanding seating options through its Chase co-brand agreement, and modernizing the customer experience.