SWA to go at it alone
 

Per today’s 8-k filing, Southwest has decided not to participate in the federal secured loan program based on its current liquidity
and belief that it can secure additional financing at favorable terms.

Time to break from the pack!

Sounds like a good move to me!

Indeed this should be a good sign. So just to be clear, we took the payroll grants but not the loans of the Cares Act. Is that correct?

Yeah, that’s my understanding. No reason not to take the handout!

We already took the handouts. They were called grants. No airline has taken the loan side of cares act, yet.

ok dumb question but if Payroll Support Program is extended past Sept-30, is SWA going to accept it / participate ?

One more blow to PSP extension. SWA benefits from the industry carnage if there’s no extension.

Yes. Gary Kelly helped write the Cares Act, and he is actively lobbying for Cares 2. Im guessing the airlines are confident that
Cares 2 will pass since it has support in Congress.

^^^^^^
Yes. This exactly.

I actually read my company email, and look at the Ask Gary news instead of making things up.