Industry-leading Balance Sheet
In an industry that has historically been quite cyclical and is extremely capital intensive, maintaining our industry-leading, investment grade balance sheet has been critical to the health of the Company.
Southwest ended the year with $3.3 billion in cash and short-term investments, along with a fully available unsecured revolving credit line of $1.0 billion. We continued to be the only domestic airline with investment grade credit ratings from all three credit rating agencies. Our leverage, including off-balance-sheet aircraft leases, was 32.5 percent at the end of 2016.