Southwest Airlines 2002 Annual Report Download - page 4

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Southwest airlines co. 2002 annual report 3
Herbert D. Kelleher
Chairman of the Board
James F. Parker
Vice Chairman and CEO
Colleen C. Barrett
President and COO
Peering ahead, the year 2003 is fraught with event risk and, hence, uncertainty. If, however, a lengthy war or another terrorist assault should
occur, Southwest is better prepared for such an eventuality than any other major U.S. airline; if the U.S. economy should decline, rather than
advance, Southwest is better prepared for such an eventuality than any other major U.S. airline; and if jet fuel prices should rise precipitously, for
any reason, Southwest is better prepared for such an eventuality than any other major U.S. airline (in addition to our financial strength, we are
currently hedged for approximately 83 percent of our presently anticipated requirements for 2003 and 80 percent for 2004).
As 2003 begins, we are planning to expand our available seat mile capacity for the year by 4 to 5 percent and have already begun,or
announced, the following additional air service: new nonstop flights from Baltimore/Washington to San Jose and from Phoenix to Detroit; and
additional flights from Baltimore/Washington to Orlando, Long Island/Islip, Manchester, Hartford, Austin, Phoenix, San Antonio, and West Palm
Beach; Chicago Midway to Cleveland, Las Vegas, and Houston; Long Island/Islip to Orlando and West Palm Beach; Sacramento to Portland and
Orange County; and Phoenix to Raleigh-Durham. If, beyond the planned 4 to 5 percent increase, serendipitous opportunities for profitable seat mile
expansion should present themselves, we believe that we are also better prepared to take advantage of such a positive eventuality than any other
major U.S. airline.
Although we cannot predict what external, uncontrollable events might transpire during 2003, we can forecast with considerable certainty that
our valorous, caring, nimble, good-hearted, and resilient People will ensure that Southwest ends 2003 just the way it ended 2002 – at the forefront
of our industry. For, as we wrote to our Shareholders last year, our wonderful People’s brave hearts are both informed and inspired by Todd Beamer’s
brave words – and his devotion to the concept of duty with honor:
“
LET’S ROLL.”
January 20, 2003
Most sincerely,