Southwest Airlines 2008 Annual Report Download - page 29

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Employee Group Representatives Status of Agreement
Dispatchers Transportation Workers of America,
AFL-CIO, Local 550 (“TWU 550”)
Amendable November 2009
Flight Simulator Technicians International Brotherhood of Teamsters
(“IBT”)
Amendable October 2011
Flight Crew Training Instructors Southwest Airlines Professional
Instructor’s Association (“SWAPIA”)
Amendable December 2012
Additional Information About Southwest
Southwest was incorporated in Texas in 1967.
The following documents are available free of charge
through Southwest’s website, www.southwest.com:
Southwest’s annual report on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K,
and any amendments to those reports that are filed
with or furnished to the Securities and Exchange
Commission (“SEC”) pursuant to Sections 13(a) or
15(d) of the Securities Exchange Act of 1934, as
amended. These materials are made available through
Southwest’s website as soon as reasonably
practicable after they are electronically filed with, or
furnished to, the SEC.
The certifications of Southwest’s Chief
Executive Officer and Chief Financial Officer
required under Section 302 of the Sarbanes-Oxley
Act have been filed as Exhibits 31.1 and 31.2 to this
report. Additionally, in 2008 Southwest’s Chief
Executive Officer certified to the New York Stock
Exchange (“NYSE”) that he was not aware of any
violation by Southwest of the NYSE’s corporate
governance listing standards.
DISCLOSURE REGARDING FORWARD-LOOKING INFORMATION
Some statements in this Form 10-K (or otherwise made by Southwest or on Southwest’s behalf from time to
time in other reports, filings with the SEC, news releases, conferences, Internet postings, or otherwise) that are not
historical facts may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are based on, and include statements about,
Southwest’s estimates, expectations, beliefs, intentions, or strategies for the future, and the assumptions underlying
these forward-looking statements. 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, words such as “anticipates,” “believes,”
“estimates,” “expects,” “intends,” “forecasts,” “may,” “will,” “should,” and similar expressions. While management
believes that these forward-looking statements are reasonable as and when made, forward-looking statements are
not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore,
actual results may differ materially from what is expressed in or indicated by Southwest’s forward-looking
statements or from historical experience or Southwest’s present expectations. Factors that could cause these
differences include, but are not limited to, those set forth below under “Risk Factors.”
Caution should be taken not to place undue reliance on Southwest’s forward-looking statements, which represent
Southwest’s views only as of the date this report is filed. Southwest undertakes no obligation to update publicly or
revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Item 1A. Risk Factors
Southwest’s business is heavily impacted by the
price and availability of aircraft fuel. Continued
volatility in fuel costs and/or significant
disruptions in the supply of fuel could adversely
affect Southwest’s results of operations.
Airlines are inherently dependent upon energy
to operate and can therefore be significantly impacted
by changes in the prices of jet fuel. The cost of jet
fuel, which generally has been at historically high
levels over the last three years, is largely
unpredictable, as is evidenced by the recent plunge in
market jet fuel prices. Even a small change in fuel
prices, with no other changes, can drive profitability
sharply in one direction or the other. Jet fuel and oil
consumed for fiscal 2008 and 2007 represented
approximately 35 percent and 30 percent of
10