Southwest Airlines Announces Share Repurchase Authorization of up to $500M

Southwest Airlines' LUV Board of Directors has authorized the Company to repurchase, on a discretionary basis, up to $500 million of the Company's common stock. In January 2008, the Company's Board of Directors authorized the repurchase of up to $500 million of the Company's common stock. Through February 15, 2008, the Company repurchased 4.4 million shares for a total of approximately $54 million as part of this program, at which time repurchases were suspended. With the Board's action today, the Company once again has the authorization to repurchase up to $500 million of the Company's common stock.