Southwsest One Report

2010 SOUTHWEST AIRLINES

ONE REPORT™

2010 SOUTHWEST AIRLINES

ONE REPORT™

1

Gary’s Message

Performance

People

Planet

Global Reporting Initiative

30,000-Foot View

pg.1

pg. 5

pg. 36

pg. 75

pg. 115

pg. 132

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

The 2010 Southwest Airlines One Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and

Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on, and include statements about, the Company’s estimates,

expectations, beliefs, intentions, and strategies for the future, and are not guarantees of future performance. Specific forward-looking statements can be identified

by the fact that they do not relate strictly to historical or current facts and include, without limitation, statements related to (i) the Company’s financial outlook; (ii)

its growth plans and expectations, including fleet and network plans; (iii) its strategic initiatives and the expected impact of the initiatives on its results of operations

and its customer experience, offerings, and benefits; and (iv) its expectations related to its acquisition of AirTran Holdings, Inc. (“AirTran”), including the anticipated

benefits of the acquisition. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause

actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) changes in the price of aircraft fuel, the impact of

hedge accounting, and any changes to the Company’s fuel hedging strategies and positions; (ii) the impact of the economy on demand for air travel and fluctuations

in consumer demand generally for the Company’s services; (iii) the impact of fuel prices and economic conditions on the Company’s overall business plan and strate gies; (iv) the Company’s ability to...