---
schema_version: "secwatch.filing_event.v1"
accession: "0000092380-24-000121"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2024-09-26T23:59:59+00:00"
generated_at: "2026-05-31T01:44:43.570767+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000092380-24-000121
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2024-09-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000009238024000121/0000092380-24-000121-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000009238024000121/luv-20240926.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092380-24-000121
- JSON: https://secwatch.observer/filing/0000092380-24-000121.json
- Plain text: https://secwatch.observer/filing/0000092380-24-000121.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.