Southwest Airlines Co

LUV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Southwest Seeks More Segmentation Options in a Competitive Market

Nicolas Owens

Sep 28, 2026

Business Strategy and Outlook

Southwest Airlines is the largest carrier in the US by passenger volume. For decades, Southwest stuck to its strategy of streamlining airline operations to maintain lower unit costs than its full-service rivals, which it passed on to customers in the form of cheaper tickets and a relatively low-frills experience.

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Southwest Airlines Co

Southwest Seeks More Segmentation Options in a Competitive Market

Business Strategy and Outlook

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