{"id":84088,"date":"2022-01-28T00:19:01","date_gmt":"2022-01-28T00:19:01","guid":{"rendered":"https:\/\/mytravelleader.com\/?p=84088"},"modified":"2022-01-28T00:19:01","modified_gmt":"2022-01-28T00:19:01","slug":"southwest-says-new-fare-will-appeal-to-small-and-midsize-businesses","status":"publish","type":"post","link":"https:\/\/mytravelleader.com\/transport\/southwest-says-new-fare-will-appeal-to-small-and-midsize-businesses\/","title":{"rendered":"Southwest says new fare will appeal to small and midsize businesses"},"content":{"rendered":"<p>Southwest&#8217;s new fare product will bridge the gap between its cheapest Wanna Get Away fares and its Anytime mid-tier product.\u00a0<\/p>\n<p>The carrier plans to add the product around the middle of year, chief commercial officer Andrew Watterson said during Thursday&#8217;s Q4 earnings call. Watterson said the product will appeal to small- and medium-size businesses, but he and other Southwest executives shied away from providing further details.\u00a0<\/p>\n<p>&#8220;It&#8217;s too early to give away exactly what the fare product looks like,&#8221; incoming CEO Bob Jordan said. Jordan will take over the airline&#8217;s top post on Feb. 1, following the retirement of Gary Kelly.\u00a0<\/p>\n<ul>\n<li><strong><em>Related: Southwest leaves door open to assigned seating<\/em><\/strong><\/li>\n<\/ul>\n<p>Wanna Get Away fares include two free checked bags. There are no change fees and ticket holders who cancel travel get a flight credit that is good for 12 months. Southwest has no plans to reduce what Wanna Get Away offers.<\/p>\n<p>The next category up, Anytime, offers those perks, plus refundability, free same-day flight changes and free same-day standby. Anytime flyers earn 10 Rapid Rewards points per dollar spent; Wanna Get Away flyers earn 6 points per dollar spent.\u00a0<\/p>\n<p>Watterson said the new fare category will sit between Wanna Get Away and Anytime in terms of price and perks.\u00a0<\/p>\n<h2>Federal aid propels Southwest to 2021 profit<\/h2>\n<p>Southwest reported net income of $68 million in the fourth quarter. The carrier&#8217;s operating revenue of $5.05 billion beat analyst expectations by $60 million, according to the investment website Seeking Alpha.\u00a0\u00a0<\/p>\n<p>The airline turned a profit despite a $30 million impact from the Covid-19 omicron variant in December.\u00a0<\/p>\n<p>For the year, Southwest had a net income of $977 million, buoyed by $2.7 billion in federal payroll support. <\/p>\n<p>Excluding the federal aid and other smaller items, the carrier would have posted a loss for the year of $1.3 billion.\u00a0<br \/>Looking ahead, Southwest expects a losing first quarter due to impacts from omicron. But Southwest projects a return to profitability beginning in March, with profits through the remainder of the year.\u00a0<\/p>\n<p>Southwest now expects to fly 4% less capacity in 2022 than it did in 2019, a downward adjustment from its earlier plan to be approximately flat with 2019.<\/p>\n<p>Source: <a href=\"https:\/\/www.travelweekly.com\/Travel-News\/Airline-News\/Southwest-discusses-new-fare\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Southwest&#8217;s new fare product will bridge the gap between its cheapest Wanna Get Away fares and its Anytime mid-tier product.\u00a0<\/p>\n","protected":false},"author":2,"featured_media":84087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Southwest says new fare will appeal to small and midsize businesses - 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