Airline veteran will lead pricing and revenue management in the airline’s revenue organization
DALLAS, 21 August 2024 /PRNewswire/ – American Airlines Inc. (NYSE: LUV) has appointed Tim Lyon as its new CEO Vice President Pricingwhere he pays particular attention to the airline’s profitability and pricing discipline. Lyon brings more than twenty years of experience in the aviation industry and will lead the airline’s pricing department, working closely with the business units that drive revenue management and sales.
“Tim’s talent is highly valued in our industry and Southwest expects to benefit from his expertise as we sharpen our focus on maximizing our leadership position in the low-fare segment in a way that reflects our unique value, comprehensive flexibility and signature hospitality,” said Andrew Watterson, Chief Operating Officer of Southwest Airlines. “We are strengthening our revenue organization to increase our focus on pricing and yield management and drive improvement in our revenue performance.”
Lyon Previously, he was Managing Director of Domestic Pricing at American Airlines and US Airways.
Cautionary note regarding forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). Specific forward-looking statements include, but are not limited to, statements with respect to (i) the Company’s expectations regarding the benefits of Mr. … Lyons expertise; and (ii) the Company’s focus areas, objectives and initiatives, including with respect to maximizing low-price leadership, pricing and yield management; and increasing sales performance. These forward-looking statements are based on the Company’s current estimates, intentions, beliefs, expectations, objectives, strategies and projections for the future and are not guarantees of future performance. Forward-looking statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to differ materially from those expressed or stated in them. Factors include, among others, (i) the impact of fears or actual disease outbreaks, extreme or severe weather conditions and natural disasters, actions of competitors (including, without limitation, pricing, scheduling, capacity and network decisions and consolidation and alliance activities), consumer perceptions, economic conditions, banking conditions, fears or actual acts of terrorism or war, socio-demographic trends and other factors beyond the Company’s control on consumer behavior and the Company’s results of operations and business decisions, plans, strategies and results; (ii) the Company’s ability to implement, transition, operate and maintain the necessary information technology systems and infrastructure to support its operations and initiatives, including with respect to revenue management, in a timely and effective manner; (iii) the costs and impacts of the actions of activist shareholders; (iv) the Company’s ability to obtain and maintain adequate infrastructure and equipment to support its operations and initiatives; (v) the Company’s dependence on The Boeing Company (“Boeing”) and Boeing suppliers for the Company’s aircraft deliveries, fleet and capacity plans, operations, maintenance, strategies and objectives; (vi) the Company’s dependence on the Federal Aviation Administration for safety approvals for the Company’s new cabin design and certification of the Boeing MAX 7 aircraft; (vii) the Company’s dependence on other third parties, including with respect to its technology plans, its plans and expectations for yield management, operational reliability, fuel supply, maintenance, global distribution systems and the impact of delays or non-performance by third parties on the Company’s business and results of operations; (viii) the Company’s ability to prioritize its initiatives and focus areas and related expenditures in a timely and effective manner; (ix) the impact of government regulations and other governmental actions on the Company’s business plans, results and operations; and (x) other factors as described in the Company’s filings with the US Securities and Exchange Commission (the “SEC”), including those factors discussed in detail under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024.
ABOUT SOUTHWEST AIRLINES CO.
American Airlines Inc. operates one of the world’s most admired and awarded airlines, offering unparalleled quality and hospitality at 117 airports in 11 countries. Southwest launched in 1971 to democratize the skies through friendly, reliable and affordable air travel, and today carries more air travelers nonstop within the United States than any other airline1. Headquartered in Dallas and is known for a culture that puts employees first. Southwest holds an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its more than 74,0002 The idiosyncratic airline offers its customers unparalleled hospitality and reaps the passionate loyalty of more than 137 million customers carried in 2023. This recipe for success brought industry-leading prosperity and 47 consecutive years3 profitability for Southwest shareholders (NYSE: LOVE). Southwest leverages a unique heritage and mission to serve communities around the world, including leveraging the power of its people and purpose to put communities at the center of its success. For more information, visit Southwest.com/citizenshipAs an airline with heart, Southwest has set a goal to achieve net-zero carbon emissions by 2050.4. Southwest has also set short-term goals and a three-pillar strategy to achieve its environmental goals. For more information, visit Southwest.com/planet.
1Related to US Department of Transport quarterly survey on airline origin and destination locations since Q1 2021
2Full-time equivalent active employees
3Annual profitability 1973–2019
4Our 2050 net zero target only includes Category 1, 2 and 3 emissions and excludes all emissions related to products and services other than fuel, such as on-board service items.
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SOURCE: Southwest Airlines Co.
