Southwest says ‘actively’ pursuing fleet strategy

Date:

https://www.tipranks.com/news/the-fly/southwest-says-actively-pursuing-fleet-strategy

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

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on LUV:

Share post:

Popular

More like this
Related

Coppa Italia | Inter 2-0 Udinese: Arnautovic and Asllani book Lazio date

Inter had been waiting to take a corner just...

Christian Barmore back on NFI list due to medical setback

Christian Barmore back on NFI list due to medical...

Gonzaga’s Mark Few named candidate for Naismith Basketball Hall of Fame Class of 2025

Mark Few is one step closer to reaching basketball...