Company Overview and Financial Preparedness
Sustaining a strong financial position for the future
Cash and short-term investments of $16.0 billion as of September 30,
2021, and a fully available revolving credit facility of $1.0 billion
Maintained unencumbered assets with an estimated value of more than
$11 billion, including $9.0 billion to $9.5 billion in aircraft
Net cash position¹ of $4.8 billion, and leverage of 56 percent
Maintained investment-grade rating for 30+ years and is currently the only
U.S. airline with an investment-grade rating by all three rating agencies
➤ Repaid approximately $188 million in debt and finance lease obligations
during third quarter 2021, including the extinguishment of $80 million in
principal of our convertible notes for a cash payment of $121 million
Based on the current cost outlook, and despite the current momentum in
revenue trends, the Company does not expect to be profitable in fourth
quarter 2021
16
Southwest'
¹Net cash position is calculated as the sum of cash and cash equivalents and short-term investments, less the sum of short-term and long-term debt.View entire presentation