Co terminal closed
 

Southwest announcement today that it is shutting down operations at IAH.

Daaaaaaaamn.

While I am surprised, I am also not totally shocked. Every flight with the exception of Denver flights that I have done from there have had very very light loads. That airport is a nightmare to operate from. I feel bad for RJS and the other woodlands warriors, though. I know they were hoping to grow things from there.

Hoping that maybe losing a quarter of a billion dollars will wake somebody up who can rescue our management team from themselves.

They’re offering $215m in dividends after taking a loss so my guess is…no, they haven’t learned.

Absolutely effing ridiculous….

If you can't justify a bonus based on profits, you can always flip the script and claim one based on minimizing losses. Losses are nice, because they could always have been a lot worse :rolleyes:

When things were running smoothly in 2015-2019, we paid out ~$300M in dividends a year. That was about 10-12% of yearly net income. Last year we paid out more dividends as a total dollar amount than we ever have ($428M) and that represented 86% of net income for the year!!!! We are out of balance.

Heads truly need to roll. That’s just criminal.

Bottom line is they have to keep institutional investors happy. If they leave, things will begin to fall apart. Especially if they need to raise capital. 81% ownership at SWA.

And reducing ORD. Two supposed co terminals. One did say he doubted SWA could execute coterminals. I guess he was sort of right.