RiddleEagle18

Southwest Airlines obtains $1 billion revolving credit facility | Airline Biz Blog

Southwest Airlines said Thursday it has obtained a $1 billion revolving credit facility – money to called upon if ever needed – and cancelled an existing $800 million line of credit.

The new line of credit was “with a syndicate of lenders.” Citibank, N.A. and JPMorgan Chase Bank, N.A., are acting as co-administrative agents, and Citibank, N.A. is acting as paying agent, Southwest said.

The previous revolving credit facility had been obtained on April 28, 2011, and was good through April 28, 2016. It replaced a $600 million credit facility that would have expired in October 2012.

Southwest listed “Morgan Stanley Senior Funding, Inc., as Syndication Agent, Bank of America, N.A., Barclays Bank PLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, and Wells Fargo Bank, N.A., as Documentation Agents, Citibank, N.A. and JPMorgan Chase Bank, N.A., as Co-Administrative Agents, and Citibank, N.A., as Paying Agent.”

Granted it replaces an 800 Million line but still its interesting. Was this also done before the purchase of AT?

JBLU stock up 5% yesterday on almost triple volume.

Just throwing it out there.

GizmoNC

Lets see, SWA is getting rid of 88 717's in the next 18 months. Deffered the 800's. Just was posted online that SWA was looking for used AC stating that 737-700 were just as cheap as 737-300's. With a rumor posted over on airlines.net that Ryanair was getting 737-800's and not waiting on MAX with 75 of their used 800's coming available. Could this be financing for used AC at SWA?

Rolf

Financing for the next deck party at the GO. Words like "epic" will be used in the aftermath.

jetliner1526

My crystal ball says Alaska goes to Delta & jetBlue goes to Southwest...GK and RA agreed on that sometime ago.

amcflyboy

That would be a payraise for me.

tsquare

So Delta then buys the Airbusses that GK cannot use? I'm good with that.

You JB boys better get a union is there is even a modicum of possibility in this fantasy. I recommend the Teamsters. They don't tolerate no monkey business.

cmesoar

Union or unemployment line.. Looks like one may be in our future.. Stay tuned..

73sw

swapa signed a nondisclosure last week, something is in the works. Might want to buy some puts for JB.

Clear Right

As much as I would hate to see this happen, because I am certain SWAPA would insist on a staple at best for B6 pilots.

The combined airline would be pretty darn powerful, 10,000+ pilots, dominance in the domestic market, major presence in New York, Boston, Washington, Florida, Caribbean, routes to Central and South America. Not to mention, JetBlue's Live TV product and they are about to release industry leading Wi-Fi with superior bandwidth than any other product.

Don't know if you could get SWAPA to agree to the 23+ International Flag B6 partners, but you sure could feed a lot of international traffic with a combined SWA/B6. Would not be good for the Legacies.

full of luv

Why jblu when SWA likes smaller airports like islip. What's the diff between SWA and legacies? Assigned seating and first class? Oh I guess you have food clubs and bag fees.