ISTAT Jetrader - Winter 2023 - 12

PERSPECTIVES
we plan to continue investing in this
important area.
Jetrader: Southwest Airlines
has faced various challenges,
including industry and operational
disruptions, economic downturns
and the like. What have been the
greatest lessons you have learned
from these experiences?
TR: As a CFO, I really believe you
have to have a strong mind, but
what makes Southwest so strong
is we combine a strong mind with a
strong heart. And I can assure you,
the airline industry is not for the
faint of heart! Our business is capital
and labor intensive; we're heavily
regulated and energy dependent.
One thing that has always
impressed me about Southwest
Airlines and our people is how
resilient we are and how we shine in
some of the most challenging times.
I am a true believer that a challenge
or crisis does not build character; it
reveals it. I am immensely proud of
the fact that our people step up to
the plate time and time again when
leadership style and approach to
financial management?
TR: Southwest is a different kind of
company. We put people first, we have
competitive compensation packages
for our employees and invest heavily
in terms of time and resources into
keeping our unique and special culture
alive and well. We work hard and like to
have fun. We believe happy employees
make happy customers, which makes
happy shareholders. And part of
making happy customers is low fares,
which is what drives us to keep our
costs low. We talk to our employees
a lot about the importance of profits
because without adequate profitability,
we can't afford the investments we
need to make for our future. Having
that understanding of our rich history
and how it all works together is
what drives me and influences how
I approach my job as a leader of this
great company.
To me, leadership is having a
genuine interest in your people and
providing them the support they
need to succeed, communicating
effectively, taking ownership and
Jetrader: In the past, you
have expressed a desire to
increase women participation in
underrepresented areas. Have
there been any successes? What
challenges has Southwest faced
in this area?
TR: While we've made progress, we
still have a way to go. It's definitely a
journey, not a destination. I am proud
of the female representation on our
board and leadership team, but there
are several areas of the business
where we need more women to join
our existing ranks of phenomenal
women - especially in our pilot
ranks and technical operations. I am
passionate about education, and in
particular STEM, which can create
pipelines for more women to pursue
careers in aviation.
Just like everyone else, we
are competing for talent in today's
environment. We've seen some success
in our Destination 225 program, which
is designed to create avenues for more
pilots as an example. And hopefully that
will result in more female pilots. But
again, we still have work to do to.
I am a true believer that a challenge or crisis does
not build character; it reveals it. I am immensely proud
of the fact that our people step up to the plate time and
time again when the cards are stacked against us.
the cards are stacked against us. I
truly believe that Southwest Airlines
was born from a warrior spirit that
had to fight just to earn the right
to fly - and that spirit is alive and
well today.
Jetrader: Southwest Airlines is
known for its unique corporate
culture. How has the company's
culture influenced your
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personal accountability, and always
trying to do the right thing. We manage
in the good times for the bad times
that are sure to come. We maintain a
strong balance sheet with sufficient
cash on hand. And we are poised
to take advantage of opportunities
that present themselves. One of the
greatest lessons Gary Kelly instilled in
me, and Herb before him, is to always
be prepared. And we are!
Jetrader: What were the greatest
lessons you learned from working
closely with Herb Kelleher (who
was the 2004 recipient of the
ISTAT Award)?
TR: Oh my goodness - where do I
begin? Working with Herb for so many
years was truly one of the greatest joys
of my life. And I use the word " joy "
intentionally, as he had such a joy for
people and for life - and he had a
love for Southwest Airlines that was
infectious and unwavering.
Among so many things, one
of my favorite Herbisms is to take
the competition seriously, but not
ourselves. This was a foundational
piece to one of our core values of
having a fun-loving attitude. Another
one is that " if it's conventional, it's not
wisdom. " I could go on for hours!
Above all, Herb taught me the
importance of putting people first and
ISTAT Jetrader - Winter 2023

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