Southwest (LUV) said it is actively pursuing its fleet strategy, also announced at Investor Day 2024, and currently expects to close an initial transaction in early 2025. This strategy is designed to realize value from the company’s current fleet and order book through aircraft sales and sales. leaseback transactions. The company continues to plan for a balanced approach to capital allocation, utilizing funds generated from its fleet strategy and excess cash on the balance sheet, to offset future capital expenditures, reduce outstanding debt and deliver shareholder returns. As such, the company currently plans to launch an additional $750 million accelerated share repurchase program in the first quarter of 2025, following the completion of the $250 million ASR announced in October 2024. Following the launch of the $750 million ASR program, the company will have $1.5 billion remaining under the $2.5 billion share repurchase program approved by the company’s Board of Directors in September 2024.
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