Southwest announces $2.5B buyback, shifts to assigned seating, targets $4B EBIT by 2027

SOUTHWEST AIRLINES CO

Board authorized $2.5B share repurchase program, replacing May 2019 program.
Q3 2024 RASM guidance raised to +2-3% YoY (prev. flat to -2%); economic fuel cost per gallon lowered to $2.50-$2.60.
Company to introduce assigned seating (sales H2 2025, flights H1 2026) and premium seating with extra legroom on ~1/3 of seats.
Financial targets: ~$4B cumulative incremental EBIT by 2027 and after-tax ROIC >=15% in 2027.
Global partnership with Icelandair expected in 2025 via Baltimore; intends to add at least one more partner in 2025.

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