4.6% (Earnings, Hank Ketchum, Greg Auld, Erich Schnitzler)

Today's SWAPA Number is 4.6 as in 4.6%. That was Southwest Airlines operating margin in the first quarter of 2026. That's the best first quarter margin that the company has produced since before the pandemic. So today, we'll take a look at the company's financial performance, how its revenue initiatives have played out and where we go from here. Joining us today are SWAPA Second Vice President, Hank Ketchum, as well as Erich Schnitzler and Greg Auld from the Economic and Financial Analysis Committee. We've also included a companion piece that defines some of the financial terms that we'll be talking about today. So please take a look at that to help follow along if you didn't major in finance.If you have any feedback for us at all, please drop us a line at [email protected] or tap here to send us a text.Follow us online:Twitter - https://twitter.com/swapapilotsFacebook - https://www.facebook.com/swapa737