What was Southwest's involvement in the industry's call for government aid?

We were very heavily involved. I worked with a CFO group to prepare a report for the CEOs of what the industry's economics would look like for the next 3 to 12 months. One of the issues for our industry is that it is very heavily taxed.

We pay in excess of a 10 percent excise tax right off the top to the federal government, and most of it goes to the aviation trust fund which provides user-fee funding for airport capital improvements . In addition, because we are so capital intensive, we have an enormous property tax burden, and, of course, we are all subject to income taxes. The industry lobbied very heavily for tax relief in some form, and some immediate access to cash.

That is how the grant evolved. Who was involved in the CFO group? It was through the Air Transport Association, essentially all the major airlines and some of the smaller airlines.

All of the CFOs were involved in a conference call. There were several different efforts. The first effort, which was led by American ... more.

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