A glance over executive level changes and year end numbers for 2016
Published By: Eunice Gettys on January 11, 2017 12:26 pm EST
Southwest Airlines Co (NYSE:LUV) has made some significant changes at the front office and at executive levels, that is going to impact the company overall. These changes will play a role in deciding as to who is going to succeed Gary Kelly as the CEO and Chairman of the airline company.
Thomas Nealon was promoted to president, which is a title that Kelly had previously held. Formerly, he was the former Chief Information Officer at Southwest. In addition to that, Southwest was able to produce promising results in the year 2016. It closed the year with a 4.2% increase in passenger traffic by December. At the same time, Carrier's seat capacity also grew at a fast pace.
The Carrier was able to book 124.8 billion revenue passenger miles (RPM). This reflects a 6.2% increase compared to same period last year in 2015. The capacity also increased 5.7% compared to same period last year. The carrier was able to produce positive results for the year end, which will also instill greater confidence for the company as a whole and for investors as well.
Southwest Stock Update
The stock traded at $51.71 surging 0.66% as at 11:23 AM EST and trades in the 52-week range of $33.96-52.20. South West Airlines possesses the market capitalization of $$32.40 billion, which is massive in the industry that it is operating in.
The stock also has a year-to-date (YTD) surge of 3.45% and comes with a price to earnings (P/E) ratio of 14.65. The company has earnings per share (EPS) of 3.52, which is a decent figure for carrier’s investors.