Gary Kelly Stepping Down as Southwest CEO

The transcript discusses the leadership transition at Southwest Airlines, with CEO Gary Kelly stepping down next year. The transition is expected to be orderly, with Kelly remaining as executive chairman until 2026. The discussion highlights the recovery of the domestic travel market in the US, which has rebounded faster than expected. Southwest Airlines is well-positioned to benefit from this recovery due to its strong domestic presence. The company plans to operate at near pre-pandemic capacity by July, with fares comparable to 2019 rates. The transcript also contrasts the US market recovery with the slower recovery in Europe.

Who is set to replace Gary Kelly as CEO of Southwest Airlines?

• The executive VP of Corporate Services

• The CFO of Southwest Airlines

• A former CEO of a European airline

• An external candidate from another industry

What is the expected timeline for Gary Kelly's transition from CEO?

• He will step down immediately

• He will step down next February

• He will step down in two years

• He will step down at the end of the year

How has the domestic leisure market in the US been performing according to the transcript?

• It has been declining steadily

• It has been recovering faster than expected

• It has remained stagnant

• It has been recovering slower than expected

What is Southwest Airlines' primary market focus?

• Cargo transportation

• Luxury travel

• Domestic air travel

• International travel

What percentage of its pre-pandemic capacity does Southwest plan to fly in July?

• 100%

• 80%

• 90%

• 97%