Southwest Airlines Co. is an American low-cost airline based in Dallas, Texas. Southwest is the largest airline in the United States, based upon domestic passengers carried, as of June 30, 2010 . Southwest operates more than 3,400 flights a day, as of March 2011, utilizing a fleet of 552 aircraft. Southwest Airlines traces its roots to the March 15, 1967 incorporation of Air Southwest Co. by Rollin King and Herb Kelleher to provide service within the state of Texas. Kelleher believed that by providing intrastate service within Texas, the airline could avoid federal regulation. Three... incumbent airlines, Braniff, Trans-Texas, and Continental Airlines, initiated legal action which was not resolved for three years. Air Southwest prevailed in 1970 when the Texas Supreme Court upheld Air Southwest’s right to fly within Texas. The Texas Supreme Court's decision became final on December 7, 1970, when the U.S. Supreme Court declined to review the case without comment. The story of Southwest’s legal fight was turned into a children’s book, Gumwrappers and Goggles by Winifred Barnum in 1983.
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| NYSE symbol: | LUV |
| Founded: | 1971 |
| Headquarters: | Dallas, Texas |
| Annual revenue: | $11,023,000,000 |
| Net income: | $178,000,000 |
| Operating income: | $449,000,000 |
| Market cap: | $9,100,000,000 |
| Industries: | Air Transportation, Scheduled, Airline |