We incurred a first quarter net loss that was in line with our expectations, driven by a $380 million pre-tax negative financial impact related to the December operational disruption, roughly $325 million of that was from lower revenue in January and February, much of that cancellations of holiday return trips. And it looks to us like it's relatively in line with what else is out there. Andrew Watterson -- Chief Operating Officer. We are not seeking to cut benefits or hold wages flat. Complete the HR Design Decisions chart with your review and rationale of the elements listed below to decide where Southwest Airlines HR practices fall. Hey. 12 Lessons in Employee Experience At Southwest Airlines, employees working in Good afternoon. I believe it was at investor day where you guys said that you've added like more than 8,000 new corporate accounts last year. Premium. But again, nothing but strong trends here as we look forward and out into the summer. More seats are redemption seats on Southwest Airlines than any of our competitors, not even close. Southwest Airlines Pay & Benefits reviews - Indeed And capacity, as always, is going to have an impact on our CASM-X at the end of the day. And then, just more near-term question. How the demand comes in may be a bit choppy with more volumes further out in the booking curve, but this doesn't seem to be unique in the industry based on ARC data. But the slow drip of these CASM revisions has been painful for your investors. The next question is from Conor Cunningham from Melius Research. The five, six or I think it's the number I've got in my head. 1, the constraint will flip to aircraft constrained. When you were talking through the point of capacity, you said some -- maybe I misheard sure, but I thought you said a point out of Q3 and then like six points or something out of Q4. We've grown quickly. ), Mit dem Laden der Karte akzeptieren Sie die Datenschutzerklrung von Google.Mehr erfahren. Southwest Airlines is the top-ranking company in the 2019 Workforce 100, which recognizes companies that have excelled in human resources during the past Hey, thanks so much. So, I think our customers just want to travel. The things that have made Southwest Airlines great historically, in my mind, are only better today, and I think customers understand that. Thank you. The airlines founder Herb Kelleher in 1973 introduced a profit-sharing policy that enables the company to share annual profits to its employees. So, a lot of other positives that will come on here as you move forward across the year. Is it all new markets, or have you just changed how you think about capacity deployment in general? Yes. So there is a kind of longer-term airfield construction program in Las Vegas from now through -- in August, they've shut down -- shut down the north-south. But no, there's no work underway around premium cabin, assign seating those kinds of things. $17-17 hourly 1d ago Base Licensed A&P Mechanic - IAH Mesa Air Group Houston, TX Job And a lot of that became evident as we worked our way through the first quarter here and we had to adjust our revenue management techniques to kind of adapt for that. Southwest Airlines' (NYSE:LUV Yields -- I think, in general, this is a high yield environment and I think airfares are strong. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. As a result, our full year 2023 capacity growth is now expected to be in the range of 14% to 15% year over year. So I just want to point that out as well. And yet you have a pretty big operation there, as I recall. So, an example of that is our Wanna Get Away Plus fare that we introduced last year. I'm wondering, we talked a little bit -- a lot about growth in demand over this call. This relates to the recent news of further supply chain challenges at Boeing. [Operator instructions] And the first question will come from Alexandra Skores from the Dallas Morning News. Please go ahead, sir. So, is the takeaway that the book away has fully ceased and the brand is intact? Today, we participate in a large part through vacations with travel agencies. So, they're more than restored. 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The Southwest Airlines HR Success Story This now puts us roughly two points lower than our original capacity plan for this year, with Q3 being one point lower and Q4 being six to seven points lower on a year-over-year basis. It's the group that we probably continue to press to keep the hiring on, at least in the near term here until we flip to aircraft constrained. We are working -- we do work regularly on things like ancillary. Please go ahead. We will take our last question from David Vernon from Bernstein. We don't disclose it, but other airlines disclose theirs, and we know that our repeat purchase is much higher. So, we give them that first experience, and they come back. So, Andrew, I want to follow up on the capacity cuts. That is tremendous progress, and it feels like we're very close to full corporate revenue recovery at Southwest. Profit-sharing is one of the biggest financial perks for employees at major airlines, and Southwest Airlines was able to give away a record $677 million in 2019 before the COVID-19 pandemic swept in during 2020 and wiped out any chance of a profit. Operator, please go ahead and begin our analyst Q&A. But as Ryan covered very thoroughly in his remarks, we're seeing demand strength here in the second quarter and at this point, trends look strong. Our first quarter jet fuel price was $3.19 per gallon, which was on the high end of our guidance range. Business but not as usual: Auf Schloss Hollenburg ist fr Ihr Business-Event (fast) alles mglich aber niemals gewhnlich, vom elegant-diskreten Seated Dinner ber Ihre eigenen Formate bis zum von uns ausgerichteten Teambuilding-Event, dem einzigartigenWeinduell. Southwest is giving its employees 6 weeks of extra pay We continue to expect solid profits for full year with the goal to grow full year margins and ROIC year over year, as well as have our route network roughly restored by year-end. And so, we're on our pilot trajectory of hiring and training the number of piles we forecast. And Bob, you didn't mention that. This strategy has provided Southwest with a dedicated workforce committed to quality and customer service. I think if you look at April, we may have another record here in April. Yields are very strong, which may have -- that will have a downward pressure on loads. The first of those is health scares of traveling. Just on -- a follow-up question on Net Promoter Score. Thanks for fitting me in here. It will be helpful in terms of how we plan and manage our costs. So, it will be a drag through August if you have more north winds than expected, but it's a normal process for airports to have to rehabilitate their runways and taxiways. On the call with me today, we have our president and CEO, Bob Jordan; executive vice president and CFO, Tammy Romo; executive vice president and chief commercial officer, Ryan Green; and chief operating officer, Andrew Watterson. This is Andrew. Hier, mitten in Hollenburg, ca. And despite what happened in December, and Bob said many times that that's not going to define us going forward, and it doesn't. But those are few and far between. It will be helpful in terms of how we manage ourselves here. Thank you. We're by far the most customer-friendly and business-friendly airline in terms of great service at a great price with the most rewarding frequent flyer program. Earlier this month, Atlanta-based Delta Air Lines decided to give a special $1,250 per-employee contribution to its profit-sharing pot even though the company had a $3.4 billion operating loss. When you look at -- one of the things we look at constantly before the ops disruption and after is consideration, where do we sit in the consideration set, both for customers of Southwest and customers that are, for the first time, considering Southwest Airlines. What was your second question? Thanks for the question. As a reminder, our full year CASM-X guidance continues to include higher labor rates, including market wage rate accruals for the remaining open labor contracts, as well as the estimated tens of millions of dollars of additional investments we expect to incur toward our operational resiliency. And there's airports where we currently operate and they've had expansions with dates and infrastructure. Please go ahead. The next question will be from Dawn Gilbertson from The Wall Street Journal. Specific to your question, we do have some onetime costs here this year related to the operational disruptions, and that's probably in the $100 million to $150 million range, and that shouldn't repeat next year. We're not taking 152 aircraft next year. Yes. And so -- and that's -- while there is more close-in leisure strength today than there was pre-pandemic, and it's certainly less than what it was kind of last summer and last fall.