Southwest Airlines Co. (NYSE: LUV) (the "Company") today announced that it will redeem all of its outstanding 2.650% Notes due 2020 (the "Notes"). The aggregate principal amount outstanding of the Notes is $500,000,000. The redemption price for the Notes will be equal to 100% of the principal amount thereof, plus accrued and unpaid interest, for a total payment to holders of the Notes of approximately $505,521,000 in the aggregate. The redemption of the Notes is scheduled to occur on October 5, 2020. The Company intends to fund the redemption with cash on hand. On and after the redemption date, the Notes will no longer be deemed outstanding, interest will cease to accrue thereon, and all rights of the holders of the Notes will cease, except for the right to receive the redemption price.

Wells Fargo Bank, N.A. is the trustee for the Notes and is serving as the paying agent for this transaction. Copies of the Notice of Redemption and additional information relating to the redemption of the Notes may be obtained from Wells Fargo Bank, N.A., Corporate Trust Operations, MAC N9300-070, 600 South Fourth Street, 7th Floor, Minneapolis, MN55415, telephone: 1-800-344-5128.