Herb Kelleher, the co-founder and former CEO of Southwest Airlines, grew the company from a small regional carrier with just four jets into an industry leader. A straight-talking iconoclast, Kelleher is adored by Southwest employees and he’s respected on Wall Street. Southwest has an unprecedented 38 straight years of profitability, a record no other US airline can touch.
Southwest Airlines is known for its low-priced fares and unmatched profitability in the industry—38 profitable years in a row, according to the company. Part of the profitability comes from Southwest’s ability to get airplanes in and out of the gate faster than its competitors.
Southwest suffers from the same ills that plague the rest of the industry: cycles of boom followed by bouts of financial Armageddon, severe competition, and overregulation. Our exception is attributable to the way our employees have responded to these challenges by taking care of each other and taking care of our customers.
Here, we take a look at the evolution of air travel: the good, the bad and the inbetween — they're all "firsts" that changed the industry.
