SOUTHWEST AIRLINES TAKES OFF INTO NEW ERA AT DENVER INTERNATIONAL WITH NEW TECHNICAL OPERATIONS HANGAR FACILITY

Southwest Airlines opens new $100 million maintenance facility as it lays foundation to support long-term growth, vision, and bringing more Mile High Heart to the Denver community

DALLAS, March 24, 2022 /PRNewswire/ -- Southwest Airlines Co. (NYSE: LUV) today is celebrating the completion of a major infrastructure investment to support its long-term vision for its Denver operation with the opening of a new Technical Operations complex at Denver International Airport (DEN). The nearly three-year, $100 million, 130,000 square foot project includes a large aircraft maintenance hangar and room for offices, training, and warehousing to support the carrier's Technical Operations Team; and represents Southwest's® continued commitment to Denver by bringing more job opportunities to the community.

"As we continue to grow and welcome more Customers at Denver International Airport, we're laser-focused on the work that happens behind-the-scenes that enables us to provide a great Customer experience," said Mike Van de Ven, Southwest Airlines' President & Chief Operating Officer. "This new hangar facility is a critical investment that supports our commitment to maintaining a safe, reliable fleet so we can connect our Denver Customers to the people and the places that matter most in their lives."

The new hangar adds an important location within Southwest's network to support scheduled, overnight maintenance of its fleet of nearly 730 Boeing 737 aircraft*. The facility includes:

• A 130,000 square-foot hangar with offices, a training area, warehouse space, and maintenance shops;
• Space inside the hangar for three Boeing 737s and room for eight additional 737s outdoors;
• And serves as the new home for Southwest's more than 100 Denver-based Technical Operations Employees.

The Technical Operations Team will begin moving into the facility in the coming weeks. The hangar joins six other Southwest Airlines® aircraft maintenance hangars located throughout the country including Atlanta, Chicago (Midway), Dallas (Love Field), Houston (Hobby), Orlando, and Phoenix.

"We're excited to see Southwest Airlines continue to invest in our community and bring high-paying jobs to the region," said Mayor Michael B. Hancock. "Southwest's support, both at the airport and throughout our city, is what makes Denver a top place to live and work, as well as make it attractive for both business and leisure travelers to come visit the Mile High City."

"Swinerton is grateful to have been a part of the Southwest Airlines Technical Operations Complex Team as the general contractor, working alongside industry experts to bring this state-of-of-the-art hangar from conception to completion," said John Spight, Vice President of Swinerton's Colorado Division. "We are thrilled to have helped Southwest complete one of the few capital improvement projects it continued with during the pandemic, and to join forces with Southwest as it expands across the nation."

Southwest Airlines will begin moving into the first gates of a 16-gate expansion project on the C concourse within the next few months. Once completed, Southwest will have the ability to use up to 40 gates, the most gates it has at any airport it serves.

With the anticipated growth in the coming years, the airline is doing preliminary work to build larger spaces for its Provisioning, Ground Support Equipment, and Cargo Teams. It is also creating an expanded People Department at DEN, which will support the airline's robust recruiting efforts. Today, the airline is one of the largest employers in the city with nearly 5,000 People based in Denver. To learn more about career opportunities at Southwest Airlines in Denver and throughout its network, visit careers.southwestair.com.

To download high-resolution images and broadcast-quality b-roll of Southwest's new Technical Operations facility, please visit the Southwest Airlines Newsroom at swamedia.com/DenverHangar.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specific forward-looking statements include, without limitation, statements related to the Company's expectations related to its growth, in particular with respect to its growth in Denver. These forward-looking statements are based on the Company's current estimates, intentions, beliefs, expectations, goals, strategies, and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions, and other factors that are difficult to predict and that could cause actual results to vary materially from those expressed in or indicated by them. Factors include, among others, (i) any negative developments related to the COVID-19 pandemic, including, for example, with respect to the duration, spread, severity, or any recurrence of the COVID-19 pandemic or any new variant strains of the underlying virus; the effectiveness, availability, and usage of COVID-19 vaccines; the impact of government mandates, directives, orders, regulations, and other governmental actions related to COVID-19 on the Company's business plans and its ability to retain key Employees; the extent of the impact of COVID-19 on overall demand for air travel and the Company's related business plans and decisions; and the impact of the COVID-19 pandemic on the Company's access to capital; (ii) the Company's dependence on its workforce, including its ability to employ sufficient numbers of qualified Employees to effectively and efficiently maintain its operations; (iii) the impact of fuel price changes, fuel price volatility, volatility of commodities used by the Company for hedging jet fuel, and any changes to the Company's fuel hedging strategies and positions, on the Company's business plans and results of operations; (iv) the impact of fears or actual outbreaks of other diseases, extreme or severe weather and natural disasters, actions of competitors, consumer perception, economic conditions, governmental actions and regulations, fears of terrorism or war, socio-demographic trends, and other factors beyond the Company's control, on consumer behavior and the Company's results of operations and business decisions, plans, strategies, and results; (v) the Company's dependence on third parties, and the impact on the Company's operations and results of operations of any third party delays or non-performance; (vi) the Company's ability to timely and effectively implement, transition, and maintain the necessary information technology systems and infrastructure to support its operations and initiatives; and (vii) other factors, as described in the Company's filings with the Securities and Exchange Commission, including the detailed factors discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2021.

Southwest Airlines Co. operates one of the world's most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. Celebrating its 50th Anniversary in 2021, Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline1. Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its more than 55,0002 People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among as many as 130 million Customers carried a year. That formula for success brought industry-leading prosperity and 47 consecutive years3 of profitability for Southwest Shareholders (NYSE: LUV). Southwest continues to develop tangible steps toward an environmental sustainability goal of achieving carbon neutrality by 2050, including offering an opportunity for Customers to contribute toward helping Southwest offset its carbon emissions. For more information, please visit Southwest.com/wannaoffsetcarbon. Learn more at Southwest.com/citizenship about how Southwest Airlines leverages a unique legacy and mission to serve communities around the world.

1) U.S. Dept. of Transportation most recent reporting of domestic originating passengers boarded
2) fulltime-equivalent active Employees
3) 1973-2019 annual profitability

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SOURCE Southwest Airlines Co.