1

How Can We Increase

Revenue?
19 October 2017
BCOM 314R - 012
Annie Gilbreath
Duy Bui
Reece Weatherford
Samantha Phillippe
Yifeng Chen
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Table of Contents

Executive Summary 3

Introduction 5

Our Predicament: Shareholders 5

A Good Start
The Reservation System 6
The 737-800 MAX 7

Recommendations
Expansion to Canada 8
First Class 10
Marketing Online 11

Costs 12

Response 13

Conclusion 14

References 16
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Executive Summary
To better serve our shareholders, Southwest has been making huge investments toward future
earnings. In the first two sections of this report, we detail two such investments and discuss their
benefits and effects on key stakeholders. However, there are some actions that can be taken to
further increase revenue. We recommend expanding to Canada, offering first class options, and
taking advantage of third party booking sites.

The Reservation System

In 2017, Southwest updated our outdated reservation system that was falling behind the industry.
The new operating system is improving the customer experience with its improved flexibility,
protection from overbooking, and foreign currency compatibility. Our employees are also
reporting a much smoother interface and improved efficiency. Our investors will be happy to see
revenues increase thanks to the convenient new add-on services features. Customers can request
additional services at the touch of a button, generating more revenue per seat mile. This new
system will help us fill the seats more effectively - just in time for our new 737-800 MAX.

The 737-800 MAX

Also this year, we have officially introduced the latest model of Boeings 737 to our fleet. We
will have 14 by the end of this year, and we plan to bring almost 200 more through 2025. The
MAX will provide our customers with a unique flight experience. Entertainment features such as
light and music sequences throughout the flight, more comfortable seats, and 40% quieter
engines. Our employees are seeing benefits as well. Flight crews will get to use the latest
technology as we phase out the outdated variants of the 737. Ground crews will benefit from the
planes reliability with fewer repairs. Lastly, the MAX is 14% more fuel efficient than previous
variants. The added fuel efficiency has benefits that are two-fold: lower costs and greater range.
For an industry that spent $3 billion on fuel alone in 2012, a 14% improvement is immense. The
increased range opens the doors for new destinations such as Hawaii, South America, and
Canada. Particularly, we believe tapping Canadas air travel market should be a priority as we
continue our track of improvements.

Expansion to Canada
Our northern neighbor, Canada, is a lucrative opportunity for Southwest to tap into. As
Americas most flown airline, we are missing an opportunity to be Canadas leader as well. The
largest airline in Canada, Air Canada, maintains a fleet that is one-fourth the size of our own.
Geographically, most of Canadas airports are along the southern border, not far from
destinations we already serve. Also, thanks to our new reservation system, we can handle
transactions in foreign currency. Canadians will be able to book our low-cost flights with ease.
Adding flights to Canada means new routes, and likely a demand for more employees. The
expansion will allow Southwest, which is a high-rated company to work for, to welcome more
flight and ground crew members. Customers in Canada and the United States alike will have new
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opportunities opened up for them, continuing to boost our customer base and satisfaction ratings.
Shareholders will see a 4% increase in revenue from international flights, bringing about the
growth that they have been calling for. Canada is an opportunity that we should capitalize on,
and perhaps offering more exquisite ways to get there is, too.

First Class
As a low-cost airline, we offer only economy seating. This cuts out the portion of the market that
could potentially be generating more revenue per seat mile. Using our cost-effective business
model with a homogenous 737 fleet and fuel efficiency advantages that will be brought about by
the 737-800 MAX, we can offer first class seats at a discount. Offering such an option makes it
possible for middle-class families to experience first-class travelling. Furthermore, business
professionals who require more privacy and workspace in-flight will be able to get that at
reasonable rates. Our competitors charge as much as 12 times the price of economy seating to fly
first class. We are missing the opportunity to undercut the industry in this market, and capture
segments that would otherwise be limited to economy seating. Customers will have new doors
opened to them and shareholders will reap the benefits of greater revenue per seat mile.
However, we are not giving ourselves the online presence to maximize ticket sales.

Marketing Online
Southwest flights can only be booked through our website. While we like to keep the interactions
with customers personal, allowing our fares to compete on third-party websites can help us
achieve sharp growth in sales. Our low fares will look even more attractive when set side-by-side
with our competitors pricier fares. Since a Google search is a very typical starting point for
flyers, third parties get considerably more traffic from passengers who are open to different
airliners. If we are able to bring in some of those customers and deliver them a pleasant
experience at discounted rates, they are likely to fly with us again. Our brand will not be
sacrificed by allowing our fares to be purchased through third-parties because the real personal
experience happens at the gate. This move will only give us the opportunity to offer that
experience to a larger customer base.

We have seen improvements in our digital infrastructure to provide smoother operations and
investment in more efficient state-of-the-art aircraft which have positive outlooks for our
earnings potential. By expanding to Canada, adopting first class options, and selling online with
third party websites, we can watch our sales grow even further, with added benefits for all of our
major stakeholder groups.
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Introduction
For over 40 years we have been continuously profitable. We lead the airline industry in customer
service, and our core value of putting our employees first has consistently landed us on the
Forbes List of Best Employers (#13 in 2016). Two of our stakeholders are taken care of in a
major way. Some of our shareholders, on the other hand, are a bit less enthused with our
performance.

Investor reviews of our company are not as consistent as our customer and employee ratings.
While many investors are content with our steady incline in revenue, some would like to see
more aggressive growth. In order to increase our revenue, we must either increase our prices or
our quantities. Raising prices is a sure way to tarnish the Southwest brand. If we are going to
achieve growth, it must be through increasing quantities. Selling more seats is the surest way to
satisfy the most stakeholders. The simple breakdown of our options can be seen below:

Investors Customers Employees

Price Goes Up Happy Unhappy Unhappy

Quantity Goes Up Happy Happy Happy

As we have shown in the table above, increasing quantities has no negative effects on our
stakeholders. Our proposed avenues to grow revenue will not increase employee workload in the
long run. Existing employees will feel no burden, while new employees will be given the
privilege to work in our renowned organization.

There are a few ways we can increase ticket sales. We have already taken our first steps with an
updated reservation system and the latest variant of the 737, the -800 MAX. Looking ahead, we
have devised three suggestions which can increase revenue growth: expand our operations to
Canada, offer affordable first-class fares, and sell through online third parties.

Our Predicament: Shareholders

Southwest maintains a philosophy that putting our employees first will trickle down to the
customers and then to shareholders. This strategy has proven effective, but it inherently leaves
some shareholders feeling as if Southwest isnt doing enough on their behalf. As analyst Helane
Becker of Cowen & Co. puts it: Southwest is the only airline to report that it is seeing no
sequential improvement in unit revenue performance. Despite constant revenue growth for over
40 years, some investors do not think we are operating at our full potential. Increasing our
quantities to generate more revenue without raising prices is the discourse we should undertake;
we have examined actions that have been taken and further actions that we believe will further
help us reach the goals set forth by our investors.
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A Good Start
The Reservation System
In order to improve our customer experience as well as maximize efficiency, our company has
adopted the new Amadeus Reservations System. This transition, which came in the second
quarter of 2017, required the training of 20,000 employees and came at a hefty price of $500
million. However, this technology update was necessary to keep up in the industry as
competition continues to tighten. Some key improvements of the system are its protection from
outages, scheduling flexibility, and add-on services to increase revenue.

With our new system, our customers will be more secure in booking flights. Last year, we had to
cancel more than 2,300 flights in less than a week due to a system outage attributed to a faulty
router. That failure cost our company millions of dollars, and the Amadeus system will help us
prevent such an outage from happening in the future. Further, our new system is much more
flexible in the type of flight schedules it can manage. If there are adverse weather conditions or
other challenges, it will automatically rebook our passengers on another flight. In order to
compete with other airlines, our company is expected to add more red-eye flights, which we had
not offered before. Our old and outdated system limited us to flying the same schedule almost
every day. From now on, the new system will help us run our service on days that generate us the
most profit by analyzing the busiest flights and adding more on a day-by-day basis.

Although we invested a lot of money in the new reservation system, we plan to recoup by 2020.
In 2018, we expect that the new system will contribute an additional $200 million in operating
revenue in the form of lower cancellation rates and greater accessibility to upgrades for
customers. Another key feature of this new system is that it will be able to handle sales in foreign
currencies other than U.S dollar. This is a major development for our recent expansion into
Central America and a potential Canada debut. We have not only improved a system that is
keystone to our business, but weve laid down framework for future growth as we set our sights
on international growth. Weve hit a homerun with this update, and our stakeholders would
agree.

The Reservation System Impact

Investors Customers Employees
Expected incremental Comprehensive Fewer outages
earnings of $500 schedules Smoother ground
million by 2020 Automatic rebooking operations
New red-eye flights
Fewer outages

The 737-800 MAX

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Along with our major renovation in ground operations, Southwest is advancing our air operations
to new heights. One of our greatest strengths is keeping operating costs low by flying only one
airplane - the Boeing 737. It is this strategy that gives Southwest a 25% advantage over
competitors in a vital performance measure: cost per available seat mile (see Appendix 1).
However, that does not mean we are falling behind in new technology. The latest variant of the
737, the -800 MAX, is the most comfortable, fuel efficient, and reliable model yet. This year, we
started the transition to the MAX and our outlook is promising.

If our passengers were not pleased enough already, this update will give them a unique and
enjoyable experience. With our new music-infused boarding and deplaning sequences, the
customers will be met with a pleasant atmosphere and leave on the same note. In addition, a
captivating lighting sequence corresponding to the phases of the flight has been introduced.
Using music and lights, passengers are sure to remember the personality of a flight with
Southwest.

We know that the lights and music are only novelties, and that flyers value comfort more than
atmosphere: a survey conducted by Consumer Traveler found that seat comfort is the number
one criteria for 20% of passengers. Our new seats offer 32 inches of pitch for more recline, but
that didnt get in our way of adding an extra 16 seats. Perhaps more importantly, engine noise
has been cut by a tremendous 40% thanks to the all-new LEAP-1B engines. As our customers sit
back, relax, and enjoy the show, we will be cutting our operating costs dramatically and boosting
our chances of positive post-purchase behavior.

The LEAP-1B cuts back on more than just noise. Fuel consumption, the biggest expense in the
airline industry, will be reduced by 14%. That amounts to massive savings for Southwest; we
spent over $3 billion dollars on fuel in 2012 alone. With greater reliability and the elimination of
the accelerated depreciation of older 737s, our overall cost per seat will drop by 20%. These
savings can be extended to our customers, generating more sales and thus putting more money in
our shareholders pockets. Better fuel efficiency also means greater range capabilities. The 737-
800 MAX opens the door for flights to Hawaii, South America, and Canada which are major
opportunities for growth.

Phasing out the oldest 737s has already begun. We are on track to have 14 MAXs by the end of
this year, and we plan to acquire 1 to 3 dozen each year through 2025. The 737-800 MAX is a
sound investment for Southwest, benefitting all three stakeholder groups:

The 737-800 MAX Impact

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Investors Customers Employees

Lower fuel costs Quiet ride Reliable
Increased customer Entertainment New technology
retention Lower fares due to Smooth transition :
Lower maintenance lower costs 80% common parts
costs New destinations with current model
possible due to greater
range

Recommendations
We have set off on the right foot with overhauling our booking system and renovating our fleet
with state-of-the-art technology. Both of these moves alone will boost our revenue, but we
believe there are more ways to grow. Using our new foreign currency capabilities along with the
increased range of our aircraft, international expansion is an undeniable opportunity.

Next, we lag behind our competition in revenue per available seat mile (see Appendix 1). Our
proposed response to this gap, without abandoning our low-cost brand, is to offer an alternative
first-class option aboard our flights.

Finally, we are severely hindering our sales by strictly selling through our official website. In
order to acquire the optimal market share, we need to be more present to travelers who use
booking sites.

Expansion to Canada
Expanding our international routes is a clear next step. We are currently only offering fifteen
international routes to Central America, but no flights to Canada. We are keeping competitive
numbers with other airlines such as American, United, and, Delta Airlines but we are the only
one out of those airlines that has a severely limited international presence. For this reason, the
only option for many of these airlines is to increase the number of flights which in many cases
would not help to grow revenue. We are fortunate enough to have the option to expand to
Canada, which would still keep us in the North American continent to stay consistent with our
current business model.

With an expansion into the Canadian airline industry, we would be able to define our place as
one of the largest airlines in North America. Our fleet size is already quadruple the size of Air
Canadas fleet with 688 boeing-737 planes at our disposal compared to Air Canada's 172 planes.
If we expand into Canada, we would enter the market as the largest provider in the country. By
adding just the three major Canadian cities of Toronto, Vancouver, and Montreal, we will open
up our services to an entirely new consumer base.
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One barrier to entry would be if Canada wants to protect their domestic airlines. Air Canada is
Canadas largest airline provider, but they had their own problems in 2003 when they filed for
bankruptcy. If Southwest came into the industry, Air Canada could lose the stability they have
gained since recovering from bankruptcy. Canada could feel that if they allow a new airline to
enter the industry, Air Canada could lose their grip on the industry. However, thanks to the EU -
US Open Skies Agreement, we already have permission to fly in Canada. Because of this
agreement, we only have to create agreements with the individual airports.

Our current revenue from our international routes is just over .01% of our overall revenue. By
expanding to Canada, we would add over 4% to international revenue. These estimates can be
seen in the chart below. (source: nasdaq.com)

Expanding our operations to Canada makes logistical sense and has the potential to boost our
revenue growth dramatically. As mentioned before, our new Amadeus system is compatible with
foreign currencies, so Canadian customers could book with Southwest as easily as Americans.
Expanding to Canada could generate significant revenue growth that our investors are seeking:

Expansion to Canada Impact

Investors
Increased market
share in both U.S. and
Canadian markets
Growth in revenue
due to larger market
and competitive prices
Customers
Canadian customers
will have access to
lower fares
Destinations in
Canada for U.S.
passengers at our
lower price
Employees
New opportunities to
work in our company
Company growth
opens up promotion
opportunities for
existing employees

First Class
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Another possibility for revenue growth is to add first class and business class options on our
flights. This can both increase the ticket unit price and attract more customers, while increasing
the revenue to make our investors happy. Currently, Southwest does not have first or business
class service for customers.

There are two main reasons why people will choose first and business class tickets. Firstly, first
and business class services provide more private and quiet space for business travellers to work
and rest in flight. People with first and business class also have access to a VIP room to stay in
before boarding, and it provides special dessert, drink, office table and sofa for people to work in
quiet and have a little rest. It is just like working in a coffee bar. The economy-class passengers
in the open space are subject to high volumes of distracting noise. Secondly, people will buy
these tickets for the added accommodations. They aim to spend more money to enjoy air travel,
not to simply arrive at their destination. In addition, some corporations actually allow its workers
to book business class tickets for work travel. First and business class tickets can attract more
people with higher income to increase customer diversity.

Since most of our customers view Southwest as a low price airline, we recommend that our
company introduce discounted first and business class tickets. We can attract more people with
middle income levels to experience exquisite service without the outrageous fares charged by our
competitors. Below, we analyze the differences in price between economy, business, and first
class tickets from a competitor:
Class Price Price Multiplier
Economy $1,590 NA
Business $5,736 3.6x Economy
First $17,730 11.2x Economy

As shown with these figures, our competition is charging more than 11 times the price of coach
for a first class ticket. Using our operating cost advantage of 20% per seat, we can offer
passengers these benefits at fair prices, boosting our customers experiences and post-purchase
behavior. In turn, our investors will see an increase in per-unit revenue and long-term growth. A
minor, yet positive impact will be felt by employees who enjoy the benefit of flying for free, or
standby. If seats are open, traveling employees will be granted first-class seats, just to add to
an already stellar employee satisfaction rating. Adding the option of first-class seating is another
action that will have positive effects for our investors, customers and employees alike.

The First-Class Impact

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Investors Customers Employees

Increase in revenue
per available seat mile
Expansion of market
and introduction of a
new segment (middle-
class first class flyers)
First-class options
available for the first
time
Discounted first class
fares make it possible
for more people to buy
May get first class
seating when flying
standby
Opportunities to
increase salaries

Marketing Online
Booking a flight online for many travelers takes place on third-party websites such as Expedia,
Kayak, and Google Flights. Customers prefer these sites because they can book vacations all in
one place and compare prices to get the best deals. According to the Airline Reporting
Corporation, third party travel agencies were responsible for $89.6 billion in ticket sales in 2014.
Southwest tickets can only be purchased through the Southwest website, which is causing us to
miss a sizeable chunk of the market. Our final recommendation will be to stop hindering our own
sales and utilize third party booking agencies to reach a greater market.

Our refusal to sell through third parties is largely based on the stubborn notion that we are able to
market our fares just as well, or better, than any other third party vendor. Furthermore,
Southwest has made the argument that selling through a third party causes a loss of ownership
and personal customer experience before, during, and after the sale of tickets. Southwest takes
pride in our relationships with customers and having a very strong personal brand narrative, but
this is limiting our potential to boost our revenue growth and yield more benefits to both our
customers and shareholders. 27% of our sales revenue is made through online tickets. We could
increase this amount by having third parties promote our tickets to customers we dont currently
have. They would only take a small commision of approximately 10% which on average sums up
to be approximately $6 for one-way tickets.

By using aggregation websites for ticket sales, we would be able to reach a larger audience pool.
Many flyers are conditioned to first check well-known third-party sites for their tickets because
of the variety of low price options and time differences offered. Since the main criteria customers
are looking for on third party sites are low fares, Southwest's choice to use these parties would
only set us ahead of our competition with a side-by-side comparison.

Our fares are not only lower because we dont pay third party travel agencies; they are lower
because of our competitive operating costs. Because of this edge, we have the margin to cover a
commission to sites that will generate more sales for us while keeping our fares competitively
low. If higher-cost airlines are paying these websites and performing well, there is no reason that
we can not beat them at their own game. Contracting with booking agencies is a business
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investment that will provide Southwest immense growth, benefitting our investors and customers
to a large extent. In addition, the growth potential that this move possesses may require
expanding the company to keep up. Promotions and new openings will be available for more
satisfied, and more numerous employees.

The Marketing Online Impact

Investors
Sharp rise in sales
Increased market
share
Long-term customer
relationships with the
initially less involved
consumers
Customers
Increased competition
driving fares down
Exposure to the
Southwest experience
that would otherwise
not be found on
familiar booking sites
Employees
Business will pick up
and expansion might
be necessary, opening
up more positions

Costs
New Reservation System Cost

Canadian Expansion Cost (one airport)

Fee per U.S. bound Passenger $2.09 $131,670.00

Rate per international originating passenger $9.25 $582,750.00
Common Use Counter
1st-12th Flight/ Month $15.00 $2160.00
13th-24th Flight/ Month $10.00 $1440.00
25th and more Flight/ Month $5.00 $2160.000
Public Address System (per month/ line) $10.00 $3,600.00
Destination fee per passenger $20.00 $2,520,000.00
Annual Rental Rate $200.00 $720,000.00
Max.Gate Cost $300,000.00 $600,000.00

Total Costs per airport $4,563,780.00

Revenue ($150 per ticket) $18,900,000.00

First and Business Class Cost (One plane)

A Single First Class Seat $250,000
A Single Business Class Seat $30,000
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Service for First Class Seats $300/Seat

Service for Business Class Seats $150/Seat
Number of First Class Seats 16
Number of Business Class Seats 30
Total Costs per plane $4,909,300

Average Domestic First Class Ticket Price $1300

Average Domestic Business Class Ticket Price $800

Revenue from First and Business Class for one flight $44,800

Third Party Marketing Cost Delta Southwest

Sample flight $1019.60 $542
Same flight (Expedia.com) $924.70

Difference in price (9.3%) $94.90 $50.95 (expected)

Response
International expansion for Southwest is still very new, having only started in 2014. Since then,
we have generated roughly $1 billion in international fares. With our very limited list of
destinations, we see further expansion (particularly into Canada) as the first step toward growing
our companys revenue. We would like to see negotiations with Canadian airports take place
over the next year, and our first flight to Canada by the end of 2018. Our employees will be kept
up to date on our plans throughout the process, with the use of memos and weekly company
reports. Upon reaching terms, we will notify our shareholders via email and our customers
through an advertising campaign (both in Canada and the U.S.).

Next, implementing first class seating will be a hefty challenge. It will take some remodeling of
the cabin and customer service procedures. However, over a quarter of the industrys revenue
comes from business and first class fares. Offering these options is a lucrative move for our
company. We will also develop a marketing strategy to get the attention of middle-class flyers
and business travelers. We would like to make arrangements with travel-heavy businesses to lock
in consistent high-fare travellers at discounts to the business. As this is our recommendation with
the most physical labor demands, we can only expect a small portion of our fleet to be renovated
each year. For that reason, we would like to see a dozen aircraft each year be equipped for first-
class. Investors will be emailed to explain the new costs we will be undertaking, we will launch a
new ad campaign to attract a new market, and we will reach out to companies who fly their
employees frequently to secure contracts for consistent business flyers. Finally, our employees
will be taking on a whole new method of service, and we will establish a training program to
adequately serve our employees and customers.
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Finally, we would like to lift the restriction of third party websites and watch the sales soar.
Southwest could be much more profitable if we could reach our customers more effectively. Our
brand will take it from there, and the experience we give the passenger is what will bring that
person back to Southwest on their next trip. Since these sites are paid on commission, the up-
front costs will be minimal. We believe reaching a deal with the largest sites (Expedia, Orbitz,
Kayak) by the second quarter of 2018 is the soonest goal we can reasonably expect due to
contract fees and commission negotiations. Once these contracts have been finalized, we will
share the good news with investors through email, equip our ground staff with training to handle
the new method of booking, and let our customers find out for themselves.

Conclusion
As our company maintains its footing as Americas favorite airline, we have a tailwind pushing
us toward further success. Weve already started by optimizing our operations, improving the
customer experience, and cutting our costs. Additionally, opportunities that we havent yet
capitalized on are waiting.

We saw success in the expansion south of the border into Mexico and Central America. Now, its
time to start looking north. Tapping the Canadian market makes sense both logistically and
financially. Establishing our operations at just one airport will cost around $4.5 million, but will
be expected to provide revenue of $18.9 million in a year.

Our customer service is unmatched in the industry. With so much money to be made in first class
fares, it only makes sense to take our hospitality to the next level for customers who want the
first class experience. Plus, operating at lower costs than our competitors will allow us to offer
premium seating at much more reasonable prices. This is a profitable market that were missing
out on.

Finally, customers looking to plan trips often begin with a Google search. The results are
crowded with third-party travel agencies. To the consumer, using these sites means they can
compare fares side by side. Southwest has the advantage in low fares, so hiding from view on
these platforms is hindering our sales. In order to grow, we need to give ourselves more presence
online.

Using these recommendations, we hope to see an increase in sales growth without making
sacrifices on behalf of any of our stakeholder groups. The customer experience will keep getting
better, our employees will still love their jobs, and all, rather than just some, of our investors will
be satisfied with our performance.
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Commented [1]: Reformat this -- some of the color of

References font is different. Also is there an author for "ANALYSIS"

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Boeing launches the 737 Boeing Business Jet (BBJ) MAX series. (2014, April 2).
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bcaf35c8ac8631a57b285

Davies, A. (2013, August 07). It Costs Up To $80,000 To Make A Business Class Airplane
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Keenan, G. (2017, March 25). Southwest Airlines Targets Canadian Expansion. Retrieved
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Khan Ascend Contributor, S. (2014). Airline Outsourcing. Retrieved October 10, 2017,
from http://www.ascendforairlines.com/2014-issue-no-4/airline-outsourcing

Phelps, S. (2016, August 24). Southwest Airlines Understands The Heart Of Marketing
Is Experience. Retrieved October 10, 2017, from
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heart-of-marketing-is-experience/#6b443c602bda

Southwest Airlines Announces Delivery Of Carrier's First Boeing 737 MAX 8.

(2017, August 30). Retrieved October 7, 2017, from http://investors.southwest.com/news-
and-events/news-releases/2017/08-30-2017-155418761
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Schlangenstein, M. (2017, May 08). Southwest Braces for Upgrade of 30-Year-Old

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30-year-old-reservations-system

Sullivan, T. (2013, July). How Flight Experts Fly First Class. Retrieved October 10, 2017, from
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future-growth-strategy-cm686269
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Appendices

Appendix 1

Appendix 2