Southwest accesses second payroll support payment

On June 3, 2021, Southwest Airlines received the second disbursement of Payroll Support in the amount of $926,393,064, for which the company provided the US Treasury with $277,917,919 notes and a Warrant to purchase up to 474,992 shares of the company’s common stock. After taking into account this second installment of Payroll Support, Southwest has received the full $1,852,786,128 of expected Payroll Support under the ARP, for which it has provided Treasury with a Note in the aggregate amount of $525,835,838 and Warrants to purchase up to 898,711 shares of the Company’s common stock.