Southwest Airlines 1997 Annual Report Download - page 12

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12
SOUTHWEST AIRLINES CO. ♥ FIVE SYMBOLS OF FREEDOM
OUR SOUTHWEST SPIRIT BURNS AS BRIGHTLY
TODAY AS IT HAS FOR THE PAST 26 YEARS — A
TORCH THAT SYMBOLIZES OUR PLEDGE TO OUR
CUSTOMERS: “WE GIVE YOU THE FREEDOM TO
FLY.”
If not for the fighting Southwest Spirit and determination exemplified by
our founders 26 years ago, we would never have been cleared for takeoff.
From the start, seemingly insurmountable odds were stacked against
Southwest. It was only the remarkable courage, perseverance, and
innovation of our early leaders that enabled us to overcome adversity and
prove that an airline can profitably offer low fares. That tradition of
Southwest Spirit continues today.
Because of our People’s devoted efforts, 1997 was outstanding for
Southwest Airlines. We posted our sixth consecutive yearly record profit
and our 25th consecutive year of profitability, outperforming the airline
industry once again in terms of Customer Satisfaction and financial
results. It was the culmination of many things, not the least of which was
lower costs.
In recent years, we have had many challenges, including increased
competition and taxes. As competition increased in our markets and as
federal taxes increased, we found ways to reduce other costs, ensuring
strong profitability and future growth.
We recently reached a ten-year engine maintenance agreement with
General Electric Engine Services, which will help control engine repair
costs on our 737-300 and -500 aircraft. We also have a similar agreement
on our 737-700 aircraft.