Southwest battens down the hatches, picks up an extra $600 million
Submitted: May 12, 2008 - Southwest Airlines disclosed late Monday afternoon that it borrowed $600 million Friday by mortgaging 21 of its Boeing 737-700s.
The disclosure and a spokeswoman said it would be for general corporate purposes.
Southwest already had $3.12 billion in cash and short-term investments as of March 31 and probably the best liquidity of any big U.S. carrier. So perhaps we should worry when Noah begins…
