Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 11, 1995

Documents

Published on August 11, 1995





EXHIBIT (11)
Page 1 of 4

Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended June 30, 1995

Fully
Primary Diluted

Weighted average shares outstanding 143,606,941 143,606,941

Shares issuable upon exercise of
outstanding stock options
(treasury stock method) 3,740,600 3,859,725

Weighted average common and common
equivalent shares 147,347,541 147,466,666

Earnings for per share computations $59,724,000 $59,724,000
Earnings per common and common
equivalent share $0.41 $0.41





EXHIBIT (11)
Page 2 of 4


Southwest Airlines Co.
Computation of Earnings Per Share
For the Three Months Ended June 30, 1994


Fully
Primary Diluted

Weighted average shares outstanding 143,001,902 143,001,902

Shares issuable upon exercise of
outstanding stock options
(treasury stock method) 4,372,576 4,372,576

Weighted average common and common
equivalent shares 147,374,478 147,374,478

Earnings for per share computations $58,522,000 $58,522,000

Earnings per common and common
equivalent share $0.40 $0.40




EXHIBIT (11)
Page 3 of 4

Southwest Airlines Co.
Computation of Earnings Per Share
For the Six Months Ended June 30, 1995


Fully
Primary Diluted

Equivalent shares outstanding
at March 31, 1995 146,532,231 146,532,231

Equivalent shares outstanding
at June 30, 1995 147,347,541 147,466,666

Total Shares outstanding 293,879,772 293,998,897

Average number of equivalent shares
outstanding 146,939,886 146,999,449

Earnings for per share computations $71,550,000 $71,550,000

Earnings per common and common
equivalent share $0.49 $0.49




EXHIBIT (11)
Page 4 of 4

Southwest Airlines Co.
Computation of Earnings Per Share
For the Six Months Ended June 30, 1994


Fully
Primary Diluted

Equivalent shares outstanding at
March 31, 1994 147,600,272 147,601,742

Equivalent shares outstanding at
June 30, 1994 147,347,478 147,374,478

Total Shares outstanding 294,974,750 294,976,220

Average number of equivalent
shares outstanding 147,487,375 147,488,110

Earnings for per share computations $100,369,000 $100,369,000

Earnings per common and common
equivalent share $0.68 $0.68