Southwest’s Seven Secrets For Success

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August 21, 2008 by Rich Whittle | 4 Comments

Portfolio.com:

What’s the airline-industry jargon for unconventional wisdom? Southwest Airlines.

By some estimates, the country’s major carriers have consumed perhaps $100 billion in capital during the past decade, but Southwest Airlines continues to be profitable. It’s been in the black for 33 consecutive years and, last week, for the 127th consecutive quarter, it paid a modest dividend.

Its balance sheet, with about $3 billion in cash on hand and $600 million in available credit, is the envy of an otherwise fuel-price-ravaged industry.

What does Southwest know that no one else does? It keeps things simple and consistent, which drives costs down, maximizes productive assets, and helps manage customer expectations.

• One Plane Fits All

• Point-to-Point Flying

• Simple In-Flight Service

• No Frills, No Fees

• Strong Management

• A Relatively Happy Workforce

• Aggressive Fuel Hedging

Photo by Southwest.