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      Form S-8 Registration of ESPP Shares
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    <div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>As
        filed with the Securities and Exchange Commission</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>on
        December 14, 2006</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        No. 333-______</strong></font></div>
      <div>&#160;</div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
        <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
        S-8 </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Registration
        Statement</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Under</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>The
        Securities Act of 1933</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><img src="freedomwings.jpg" alt=""><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SOUTHWEST
        AIRLINES CO.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(Exact
        name of registrant as specified in its charter)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div align="left">
        <table border="1" bordercolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Texas</font></div>
              </td>
              <td valign="top" width="19%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1-7259</font></div>
              </td>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">74-1563240</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">_____________________</font></div>
              </td>
              <td valign="top" width="19%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">_____________</font></div>
              </td>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">______________</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                  or other jurisdiction</font></div>
              </td>
              <td valign="top" width="19%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission</font></div>
              </td>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                  Employer</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
                  incorporation)</font></div>
              </td>
              <td valign="top" width="19%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
                  Number)</font></div>
              </td>
              <td valign="top" width="30%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                  No.)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div align="left">
        <table border="1" bordercolor="white" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="35%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">P.
                  O. Box 36611, Dallas, Texas</font></div>
              </td>
              <td valign="top" width="44%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">75235-1611</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="35%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">_________________________________</font></div>
              </td>
              <td valign="top" width="44%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">___________</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="35%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                  of principal executive offices)</font></div>
              </td>
              <td valign="top" width="44%" style="border-bottom: white thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                  Code)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Southwest
        Airlines Co.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1991
        Employee Stock Purchase Plan, as amended March 16, 2006</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(Full
        title of the plan)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Laura
        Wright</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Senior
        Vice President-Finance &amp; Chief Financial Officer</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Southwest
        Airlines Co.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>P.O.
        Box 36611</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Dallas,
        Texas 75235-1611</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>214/792-4000</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(Name,
        address, and telephone number, including area code,</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>of
        agent for service)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Copy
        to:</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Deborah
        Ackerman</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Vice
        President-General Counsel</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Southwest
        Airlines Co.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>P.O.
        Box 36611</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Dallas,
        Texas 75235-1611</strong></font></div>
      <div>&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CALCULATION
        OF REGISTRATION FEE</strong></font></div>
      <div align="left">
        <table border="1" bordercolor="black" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="15%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title
                  of Securities to be Registered</font></div>
              </td>
              <td align="left" valign="top" width="15%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amount
                  to be Registered(1)</font></div>
              </td>
              <td align="left" valign="top" width="16%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Maximum
                  Offering Price Per Share(2)</font></div>
              </td>
              <td align="left" valign="top" width="19%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed
                  Maximum Aggregate Offering Price(2)</font></div>
              </td>
              <td align="left" valign="top" width="15%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amount
                  of Registration Fee(2)</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="15%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common
                  Stock,</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$1.00
                  par value per share</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
              <td align="left" valign="top" width="15%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7,000,000
                  shares</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
              <td align="left" valign="top" width="16%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$15.40</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
              <td align="left" valign="top" width="19%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$107,800,000.00
                  </font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
              <td align="left" valign="top" width="15%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="left">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$11,534.60</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to Rule 416 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;),
        this Registration Statement shall be </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">deemed
        to
        cover any additional shares of common</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;
        stock, par value $1.00 per share (the &#8220;Common Stock&#8221;), of Southwest Airlines Co.
</font><font size="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(&#8220;Southwest&#8221;)
        that may be issued to prevent dilution resulting from stock splits,
        stock</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font size="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;
        &#160;dividends, or similar transactions. </font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Estimated
        solely for the purpose of calculating the registration fee in accordance
        with
        Rules 457(c) and 457(h) under the Securities </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Act.
        The
        offering price and registration fee are</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;
        &#160;based on a price of $15.40 per share, which price is the average of the
        high and low </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">prices
        for the Common Stock, as reported on the New York Stock Exchange on December
        8,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;
        2006.</font><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>REGISTRATION
        OF ADDITIONAL SECURITIES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
        Registration Statement covers an additional 7,000,000 shares of Southwest&#8217;s
        Common Stock that may be offered pursuant to the Plan. In accordance with
        General Instruction E to Form S-8, the contents of Southwest&#8217;s Registration
        Statement on Form S-8 (File Number 33-40653) are incorporated herein by
        reference.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PART
        II</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INFORMATION
        REQUIRED IN THE REGISTRATION STATEMENT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        3. </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Incorporation
        of Documents by Reference.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        following documents, which have been filed with the Securities and Exchange
        Commission (the &#8220;Commission&#8221;), are incorporated by reference into this
        Registration Statement:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">&#160;</td>
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Southwest&#8217;s
                  Annual Report on Form 10-K for the fiscal year ended December 31,
                  2005,
                  filed with the Commission on February 1,
                  2006;</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Southwest&#8217;s
        Quarterly Reports on Form 10-Q for the quarterly periods ended March 31,
        2006,
        June 30, 2006, and September 30, 2006, filed with the Commission on April
        24,
        2006, July 21, 2006, and October 20, 2006, respectively;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">&#160;</td>
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Southwest&#8217;s
                  Current Reports on Form 8-K, filed with the Commission on&#160;January 24,
                  2006, April 20, 2006, May 18, 2006, May 19, 2006,&#160;August 8, 2006,
                  August 14, 2006,&#160;November 21, 2006, December 12, 2006, and December
                  14, 2006; and</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">&#160;</td>
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
                  description of Southwest&#8217;s Common Stock contained in its Registration
                  Statement on Form 8-A, including any amendments or reports filed
                  for the
                  purpose of updating such
                  description.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        addition, all documents subsequently filed by Southwest with the Commission
        pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Securities Exchange
        Act
        of 1934, as amended, prior to the filing of a post-effective amendment that
        indicates that all securities offered have been sold or that deregisters
        all
        securities then remaining unsold shall be deemed to be incorporated by reference
        herein and to be a part hereof form the date of filing of such
        documents.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        5.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
        Interests of Named Experts and Counsel.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        validity of the Common Stock registered hereunder has been passed upon for
        the
        Company by Deborah Ackerman,&#160;Vice President-General Counsel of the Company.
        Ms. Ackerman&#160;beneficially owns approximately 168,000&#160;shares of Common
        Stock (including vested and unvested stock options).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;6.
        </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Indemnification
        of Directors and Officers. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article&#160;VIII,
        Section&#160;1 of Southwest&#8217;s Bylaws provides as follows: &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Right
        to Indemnification</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">:
        Subject
        to the limitations and conditions as provided in this Article&#160;VIII, each
        person who was or is made a party to, or is threatened to be made a party
        to,
        any threatened, pending or completed action, suit or proceeding, whether
        civil,
        criminal, administrative, arbitrative or investigative (hereinafter called
        a
&#8220;proceeding&#8221;), or any appeal in such a proceeding or any inquiry or
        investigation that could lead to such a proceeding, by reason of the fact
        that
        he (or a person of whom he is the legal representative) is or was a director
        or
        officer of the corporation (or while a director or officer of the corporation
        is
        or was serving at the request of the corporation as a director, officer,
        partner, venturer, proprietor, trustee, Employee, agent, or similar functionary
        of another foreign or domestic corporation, partnership, joint venture,
        proprietorship, trust, Employee benefit plan, or other enterprise) shall
        be
        indemnified by the corporation to the fullest extent permitted by the Texas
        Business Corporation Act, as the same exists or may hereafter be amended
        (but,
        in the case of any such amendment, only to the extent that such amendment
        permits the corporation to provide broader indemnification rights than said
        law
        permitted the corporation to provide prior to such amendment) against judgments,
        penalties (including excise and similar taxes and punitive damages), fines,
        settlements and reasonable expenses (including, without limitation, court
        costs
        and attorneys&#8217; fees) actually incurred by such person in connection with such
        proceeding, appeal, inquiry or investigation, and indemnification under this
        Article&#160;VIII shall continue as to a person who has ceased to serve in the
        capacity which initially entitled such person to indemnity hereunder; provided,
        however, that in no case shall the corporation indemnify any such person
        (or the
        legal representative of any such person) otherwise than for his reasonable
        expenses, in respect of any proceeding (i)&#160;in which such person shall have
        been finally adjudged by a court of competent jurisdiction (after exhaustion
        of
        all appeals therefrom) to be liable on the basis that personal benefit was
        improperly received by him, whether or not the benefit resulted from an action
        taken in such person&#8217;s official capacity, or (ii)&#160;in which such person
        shall have been found liable to the corporation; and provided, further, that
        the
        corporation shall not indemnify any such person for his reasonable expenses
        actually incurred in connection with any proceeding in which he shall have
        been
        found liable for willful or intentional misconduct in the performance of
        his
        duty to the corporation. The rights granted pursuant to this Article&#160;VIII
        shall be deemed contract rights, and no amendment, modification or repeal
        of
        this Article&#160;VIII shall have the effect of limiting or denying any such
        rights with respect to actions taken or proceedings arising prior to any
        such
        amendment, modification or repeal. It is expressly acknowledged that the
        indemnification provided in this Article&#160;VIII could involve indemnification
        for negligence or under theories of strict liability.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article&#160;Ten
        of Southwest&#8217;s Articles of Incorporation provides that a director of the
        corporation shall not be liable to the corporation or its shareholders for
        monetary damages for an act or omission in the director&#8217;s capacity as a
        director, subject to certain limitations. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article&#160;2.02-1B.
        of the Texas Business Corporation Act provides that, subject to certain
        limitations, &#8220;a corporation may indemnify a person who was, is, or is threatened
        to be made a named defendant or respondent in a proceeding because the person
        is
        or was a director only if it is determined in accordance with Section&#160;F of
        this article that the person: (1)&#160;conducted himself in good faith;
        (2)&#160;reasonably believed: (a)&#160;in the case of conduct in his official
        capacity as a director of the corporation, that his conduct was in the
        corporation&#8217;s best interests; and (b)&#160;in all other cases, that his conduct
        was at least not opposed to the corporation&#8217;s best interests; and (3)&#160;in
        the case of any criminal proceeding, had no reasonable cause to believe his
        conduct was unlawful.&#8221; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Southwest
        also maintains directors&#8217; and officers&#8217; liability insurance. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        8.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 45pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restated
        Articles of Incorporation of Southwest (incorporated by reference to
        Exhibit&#160;4.1 to Southwest&#8217;s Registration Statement on Form&#160;S-3 (File
        No.&#160;33-52155)); Amendment to Restated Articles of Incorporation of
        Southwest (incorporated by reference to Exhibit&#160;3.1 to Southwest&#8217;s
        Quarterly Report on Form&#160;10-Q for the quarter ended June&#160;30, 1996
        (File No.&#160;1-7259)); Amendment to Restated Articles of Incorporation of
        Southwest (incorporated by reference to Exhibit&#160;3.1 to Southwest&#8217;s
        Quarterly Report on Form&#160;10-Q for the quarter ended June&#160;30, 1998
        (File No.&#160;1-7259)); Amendment to Restated Articles of Incorporation of
        Southwest (incorporated by reference to Exhibit&#160;4.2 to Southwest&#8217;s
        Registration Statement on Form&#160;S-8 (File No.&#160;333-82735); Amendment to
        Restated Articles of Incorporation of Southwest (incorporated by reference
        to
        Exhibit&#160;3.1 to Southwest&#8217;s Quarterly Report on Form&#160;10-Q for the
        quarter ended June&#160;30, 2001 (File No.&#160;1-7259)).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bylaws
        of
        Southwest, as amended through January 2005 (incorporated by reference to
        Exhibit&#160;3.2 to Southwest&#8217;s Current Report on Form&#160;8-K dated
        January&#160;25, 2005 (File No.&#160;1-7259)).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.3</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Specimen
        certificate representing Common Stock of Southwest (incorporated by reference
        to
        Exhibit 4.2 to Southwest&#8217;s Annual Report on Form 10-K for the year ended
        December 31, 1994 (File No. 1-7259)).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Opinion
        of Deborah Ackerman, Vice President-General Counsel of the Company.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
        of Ernst &amp; Young LLP.</font></div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
        of Deborah Ackerman, Vice President-General Counsel of the Company (contained
        in
        the opinion filed as Exhibit 5 hereto).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 45pt; TEXT-INDENT: -45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Southwest
        Airlines Co. 1991 Employee Stock Purchase Plan, as amended March </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16,
        2006.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 54pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;17.
        Undertakings. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.&#160;The
        undersigned registrant hereby undertakes: </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;(1)&#160;To
        file, during any period in which offers or sales are being made, a
        post-effective amendment to this registration statement: </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(i)&#160;to
        include any prospectus required by Section&#160;10(a)(3) of the Securities Act
        of 1933; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(ii)&#160;to
        reflect in the prospectus any facts or events arising after the effective
        date
        of the registration statement (or the most recent post-effective amendment
        thereof) which, individually or in the aggregate, represent a fundamental
        change
        in the information set forth in the registration statement; </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        (iii)&#160;to include any material information with respect to the plan of
        distribution not previously disclosed in the registration statement or any
        material change to such information in the registration statement;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Provided,
        however</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        that
        paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required
        to
        be included in a post-effective amendment by those paragraphs is contained
        in
        periodic reports filed with or furnished to the Commission by the registrant
        pursuant to Section 13 or Section&#160;15(d) of the Securities Exchange Act of
        1934 that are incorporated by reference in the registration statement.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2)
        That,
        for the purpose of determining any liability under the Securities Act of
        1933,
        each such post-effective amendment shall be deemed to be a new registration
        statement relating to the securities offered therein, and the offering of
        such
        securities at that time shall be deemed to be the initial bona fide offering
        thereof. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;(3)&#160;To
        remove from registration by means of a post-effective amendment any of the
        securities being registered which remain unsold at the termination of the
        offering. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">B.
        The
        undersigned registrant hereby undertakes that, for purposes of determining
        any
        liability under the Securities Act of 1933, each filing of the registrant&#8217;s
        annual report pursuant to Section 13(a) or Section&#160;15(d) of the Securities
        Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
        plan&#8217;s annual report pursuant to Section 15(d) of the Exchange Act) that is
        incorporated by reference in the registration statement shall be deemed to
        be a
        new registration statement relating to the securities offered therein, and
        the
        offering of such securities at that time shall be deemed to be the initial
        bona
        fide offering thereof. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C.
        Insofar as indemnification for liabilities arising under the Securities Act
        of
        1933 may be permitted to directors, officers and controlling persons of the
        registrant pursuant to the foregoing provisions, or otherwise, the registrant
        has been advised that in the opinion of the Securities and Exchange Commission
        such indemnification is against public policy as expressed in the Act and
        is,
        therefore, unenforceable. In the event that a claim for indemnification against
        such liabilities (other than the payment by the registrant of expenses incurred
        or paid by a director, officer or controlling person of the registrant in
        the
        successful defense of any action, suit or proceeding) is asserted by such
        director, officer or controlling person in connection with the securities
        being
        registered, the registrant will, unless in the opinion of its counsel the
        matter
        has been settled by controlling precedent, submit to a court of appropriate
        jurisdiction the question whether such indemnification by it is against public
        policy as expressed in the Act and will be governed by the final adjudication
        of
        such issue. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 45pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>The
        Registrant.</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        Pursuant
        to the requirements of the Securities Act of 1933, the Registrant certifies
        that
        it has reasonable grounds to believe that it meets all of the requirements
        for
        filing on Form S-8 and has duly caused this Registration Statement to be
        signed
        on its behalf by the undersigned thereunto duly authorized in the City of
        Dallas, State of Texas on December 14, 2006.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;SOUTHWEST
        AIRLINES
        CO.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;By:
</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
        Laura Wright </u></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Laura
        Wright</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        Senior Vice President-Finance,</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        Chief Financial Officer</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify">&#160;</div>
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        has been signed by the following persons in the capacities indicated on December
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              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
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              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/<u>s/
                    Herbert D. Kelleher </u></font></div>
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                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
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                    of the
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                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Herbert
                    D. Kelleher</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    Gary C. Kelly </u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Vice
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                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gary
                    C. Kelly</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;and
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                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    Laura Wright</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Senior
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                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Laura
                    Wright</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(Principal
                    Financial and Accounting Officer)</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    Colleen C. Barrett</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director
                    and
                    President</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Colleen
                    C. Barrett</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    David W. Biegler </u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">David
                    W. Biegler</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    William P. Hobby</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">William
                    P. Hobby</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    Travis C. Johnson</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Travis
                    C. Johnson</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    Louis E. Caldera</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Louis
                    E. Caldera</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    Nancy B. Loeffler</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nancy
                    B. Loeffler</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    C. Webb Crockett</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">C.
                    Webb Crockett</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
                    John T. Montford</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">John
                    T. Montford</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/WilliamH.Cunningham</u></font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Director</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">William
                    H. Cunningham</font></div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="justify" valign="top" width="26%" style="border-bottom: white thin solid;">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify">&#160;</div>
                </td>
                <td align="justify" valign="top" width="2%" style="border-bottom: white thin solid;">&#160;</td>
              </tr>

          </table>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>INDEX
        TO EXHIBITS</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restated
                  Articles of Incorporation of Southwest (incorporated by reference
                  to
                  Exhibit&#160;4.1 to Southwest&#8217;s Registration Statement on Form&#160;S-3
                  (File No.&#160;33-52155)); Amendment to Restated Articles of Incorporation
                  of Southwest (incorporated by reference to Exhibit&#160;3.1 to Southwest&#8217;s
                  Quarterly Report on Form&#160;10-Q for the quarter ended June&#160;30,
                  1996 (File No.&#160;1-7259)); Amendment to Restated Articles of
                  Incorporation of Southwest (incorporated by reference to Exhibit&#160;3.1
                  to Southwest&#8217;s Quarterly Report on Form&#160;10-Q for the quarter ended
                  June&#160;30, 1998 (File No.&#160;1-7259)); Amendment to Restated Articles
                  of Incorporation of Southwest (incorporated by reference to
                  Exhibit&#160;4.2 to Southwest&#8217;s Registration Statement on Form&#160;S-8
                  (File No.&#160;333-82735); Amendment to Restated Articles of Incorporation
                  of Southwest (incorporated by reference to Exhibit&#160;3.1 to Southwest&#8217;s
                  Quarterly Report on Form&#160;10-Q for the quarter ended June&#160;30,
                  2001 (File No.&#160;1-7259)).</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bylaws
                  of Southwest, as amended through January 2005 (incorporated by
                  reference
                  to Exhibit&#160;3.2 to Southwest&#8217;s Current Report on Form&#160;8-K dated
                  January&#160;25, 2005 (File
                  No.&#160;1-7259)).</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.3</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Specimen
                  certificate representing Common Stock of Southwest (incorporated
                  by
                  reference to Exhibit 4.2 to Southwest&#8217;s Annual Report on Form 10-K for the
                  year ended December 31, 1994 (File No.
                  1-7259)).</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Opinion
                  of Deborah Ackerman, Vice President-General Counsel of the Company.
                  </font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.1</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
                  of Ernst &amp; Young LLP.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">23.2</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Consent
                  of Deborah Ackerman, Vice President-General Counsel of the Company
                  (contained in the opinion filed as Exhibit 5
                  hereto).</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 18pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Southwest
                  Airlines Co. 1991 Employee Stock Purchase Plan, as amended March
                  16,
                  2006.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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[{"type": "S-8", "sequence": "1", "filename": "form_s-8.htm", "description": "FORM S-8 REGISTRATION OF ESPP SHARES", "secsgml_size_bytes": 113772}]
{"company-data": {"conformed-name": "SOUTHWEST AIRLINES CO", "cik": "0000092380", "assigned-sic": "4512", "irs-number": "741563240", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-139362", "film-number": "061278359"}, "business-address": {"street1": "2702 LOVE FIELD DR", "street2": "P O BOX 36611", "city": "DALLAS", "state": "TX", "zip": "75235", "phone": "2147924000"}, "mail-address": {"street1": "PO BOX 36611", "city": "DALLAS", "state": "TX", "zip": "75235-1611"}, "former-company": {"former-conformed-name": "AIR SOUTHWEST CO", "date-changed": "19760108"}}
Form S-8 Registration of ESPP Shares
As
        filed with the Securities and Exchange Commission
on
        December 14, 2006
Registration
        No. 333-______
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        S-8
Registration
        Statement
Under
The
        Securities Act of 1933
SOUTHWEST
        AIRLINES CO.
(Exact
        name of registrant as specified in its charter)
Texas
1-7259
74-1563240
_____________________
_____________
______________
(State
                  or other jurisdiction
(Commission
(I.R.S.
                  Employer
of
                  incorporation)
File
                  Number)
Identification
                  No.)
P.
                  O. Box 36611, Dallas, Texas
75235-1611
_________________________________
___________
(Address
                  of principal executive offices)
(Zip
                  Code)
Southwest
        Airlines Co.
1991
        Employee Stock Purchase Plan, as amended March 16, 2006
(Full
        title of the plan)
Laura
        Wright
Senior
        Vice President-Finance & Chief Financial Officer
Southwest
        Airlines Co.
P.O.
        Box 36611
Dallas,
        Texas 75235-1611
214/792-4000
(Name,
        address, and telephone number, including area code,
of
        agent for service)
Copy
        to:
Deborah
        Ackerman
Vice
        President-General Counsel
Southwest
        Airlines Co.
P.O.
        Box 36611
Dallas,
        Texas 75235-1611
CALCULATION
        OF REGISTRATION FEE
Title
                  of Securities to be Registered
Amount
                  to be Registered(1)
Proposed
Maximum
                  Offering Price Per Share(2)
Proposed
                  Maximum Aggregate Offering Price(2)
Amount
                  of Registration Fee(2)
Common
                  Stock,
$1.00
                  par value per share
7,000,000
                  shares
$15.40
$107,800,000.00
$11,534.60
(1)
Pursuant
        to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"),
        this Registration Statement shall be
deemed
        to
        cover any additional shares of common
stock, par value $1.00 per share (the "Common Stock"), of Southwest Airlines Co.
("Southwest")
        that may be issued to prevent dilution resulting from stock splits,
        stock
dividends, or similar transactions.
(2)
Estimated
        solely for the purpose of calculating the registration fee in accordance
        with
        Rules 457(c) and 457(h) under the Securities
Act.
        The
        offering price and registration fee are
based on a price of $15.40 per share, which price is the average of the
        high and low
prices
        for the Common Stock, as reported on the New York Stock Exchange on December
        8,
2006.
1
REGISTRATION
        OF ADDITIONAL SECURITIES
This
        Registration Statement covers an additional 7,000,000 shares of Southwest's
        Common Stock that may be offered pursuant to the Plan. In accordance with
        General Instruction E to Form S-8, the contents of Southwest's Registration
        Statement on Form S-8 (File Number 33-40653) are incorporated herein by
        reference.
PART
        II
INFORMATION
        REQUIRED IN THE REGISTRATION STATEMENT
Item
        3.
Incorporation
        of Documents by Reference.
The
        following documents, which have been filed with the Securities and Exchange
        Commission (the "Commission"), are incorporated by reference into this
        Registration Statement:
(i)
Southwest's
                  Annual Report on Form 10-K for the fiscal year ended December 31,
                  2005,
                  filed with the Commission on February 1,
                  2006;
(ii)
Southwest's
        Quarterly Reports on Form 10-Q for the quarterly periods ended March 31,
        2006,
        June 30, 2006, and September 30, 2006, filed with the Commission on April
        24,
        2006, July 21, 2006, and October 20, 2006, respectively;
(iii)
Southwest's
                  Current Reports on Form 8-K, filed with the Commission on January 24,
                  2006, April 20, 2006, May 18, 2006, May 19, 2006, August 8, 2006,
                  August 14, 2006, November 21, 2006, December 12, 2006, and December
                  14, 2006; and
(iv)
the
                  description of Southwest's Common Stock contained in its Registration
                  Statement on Form 8-A, including any amendments or reports filed
                  for the
                  purpose of updating such
                  description.
In
        addition, all documents subsequently filed by Southwest with the Commission
        pursuant to Sections 13(a), 13(c), 14, and 15(d) of the Securities Exchange
        Act
        of 1934, as amended, prior to the filing of a post-effective amendment that
        indicates that all securities offered have been sold or that deregisters
        all
        securities then remaining unsold shall be deemed to be incorporated by reference
        herein and to be a part hereof form the date of filing of such
        documents.
Item
        5.
Interests of Named Experts and Counsel.
The
        validity of the Common Stock registered hereunder has been passed upon for
        the
        Company by Deborah Ackerman, Vice President-General Counsel of the Company.
        Ms. Ackerman beneficially owns approximately 168,000 shares of Common
        Stock (including vested and unvested stock options).
2
Item 6.
Indemnification
        of Directors and Officers.
Article VIII,
        Section 1 of Southwest's Bylaws provides as follows: "
Right
        to Indemnification
:
        Subject
        to the limitations and conditions as provided in this Article VIII, each
        person who was or is made a party to, or is threatened to be made a party
        to,
        any threatened, pending or completed action, suit or proceeding, whether
        civil,
        criminal, administrative, arbitrative or investigative (hereinafter called
        a
"proceeding"), or any appeal in such a proceeding or any inquiry or
        investigation that could lead to such a proceeding, by reason of the fact
        that
        he (or a person of whom he is the legal representative) is or was a director
        or
        officer of the corporation (or while a director or officer of the corporation
        is
        or was serving at the request of the corporation as a director, officer,
        partner, venturer, proprietor, trustee, Employee, agent, or similar functionary
        of another foreign or domestic corporation, partnership, joint venture,
        proprietorship, trust, Employee benefit plan, or other enterprise) shall
        be
        indemnified by the corporation to the fullest extent permitted by the Texas
        Business Corporation Act, as the same exists or may hereafter be amended
        (but,
        in the case of any such amendment, only to the extent that such amendment
        permits the corporation to provide broader indemnification rights than said
        law
        permitted the corporation to provide prior to such amendment) against judgments,
        penalties (including excise and similar taxes and punitive damages), fines,
        settlements and reasonable expenses (including, without limitation, court
        costs
        and attorneys' fees) actually incurred by such person in connection with such
        proceeding, appeal, inquiry or investigation, and indemnification under this
        Article VIII shall continue as to a person who has ceased to serve in the
        capacity which initially entitled such person to indemnity hereunder; provided,
        however, that in no case shall the corporation indemnify any such person
        (or the
        legal representative of any such person) otherwise than for his reasonable
        expenses, in respect of any proceeding (i) in which such person shall have
        been finally adjudged by a court of competent jurisdiction (after exhaustion
        of
        all appeals therefrom) to be liable on the basis that personal benefit was
        improperly received by him, whether or not the benefit resulted from an action
        taken in such person's official capacity, or (ii) in which such person
        shall have been found liable to the corporation; and provided, further, that
        the
        corporation shall not indemnify any such person for his reasonable expenses
        actually incurred in connection with any proceeding in which he shall have
        been
        found liable for willful or intentional misconduct in the performance of
        his
        duty to the corporation. The rights granted pursuant to this Article VIII
        shall be deemed contract rights, and no amendment, modification or repeal
        of
        this Article VIII shall have the effect of limiting or denying any such
        rights with respect to actions taken or proceedings arising prior to any
        such
        amendment, modification or repeal. It is expressly acknowledged that the
        indemnification provided in this Article VIII could involve indemnification
        for negligence or under theories of strict liability.
Article Ten
        of Southwest's Articles of Incorporation provides that a director of the
        corporation shall not be liable to the corporation or its shareholders for
        monetary damages for an act or omission in the director's capacity as a
        director, subject to certain limitations.
Article 2.02-1B.
        of the Texas Business Corporation Act provides that, subject to certain
        limitations, "a corporation may indemnify a person who was, is, or is threatened
        to be made a named defendant or respondent in a proceeding because the person
        is
        or was a director only if it is determined in accordance with Section F of
        this article that the person: (1) conducted himself in good faith;
        (2) reasonably believed: (a) in the case of conduct in his official
        capacity as a director of the corporation, that his conduct was in the
        corporation's best interests; and (b) in all other cases, that his conduct
        was at least not opposed to the corporation's best interests; and (3) in
        the case of any criminal proceeding, had no reasonable cause to believe his
        conduct was unlawful."
Southwest
        also maintains directors' and officers' liability insurance.
Item
        8.
Exhibits.
4.1
Restated
        Articles of Incorporation of Southwest (incorporated by reference to
        Exhibit 4.1 to Southwest's Registration Statement on Form S-3 (File
        No. 33-52155)); Amendment to Restated Articles of Incorporation of
        Southwest (incorporated by reference to Exhibit 3.1 to Southwest's
        Quarterly Report on Form 10-Q for the quarter ended June 30, 1996
        (File No. 1-7259)); Amendment to Restated Articles of Incorporation of
        Southwest (incorporated by reference to Exhibit 3.1 to Southwest's
        Quarterly Report on Form 10-Q for the quarter ended June 30, 1998
        (File No. 1-7259)); Amendment to Restated Articles of Incorporation of
        Southwest (incorporated by reference to Exhibit 4.2 to Southwest's
        Registration Statement on Form S-8 (File No. 333-82735); Amendment to
        Restated Articles of Incorporation of Southwest (incorporated by reference
        to
        Exhibit 3.1 to Southwest's Quarterly Report on Form 10-Q for the
        quarter ended June 30, 2001 (File No. 1-7259)).
3
4.2
Bylaws
        of
        Southwest, as amended through January 2005 (incorporated by reference to
        Exhibit 3.2 to Southwest's Current Report on Form 8-K dated
        January 25, 2005 (File No. 1-7259)).
4.3
Specimen
        certificate representing Common Stock of Southwest (incorporated by reference
        to
        Exhibit 4.2 to Southwest's Annual Report on Form 10-K for the year ended
        December 31, 1994 (File No. 1-7259)).
5
Opinion
        of Deborah Ackerman, Vice President-General Counsel of the Company.
23.1
Consent
        of Ernst & Young LLP.
23.2
Consent
        of Deborah Ackerman, Vice President-General Counsel of the Company (contained
        in
        the opinion filed as Exhibit 5 hereto).
99
Southwest
        Airlines Co. 1991 Employee Stock Purchase Plan, as amended March
16,
        2006.
4
Item 17.
        Undertakings.
A. The
        undersigned registrant hereby undertakes:
(1) To
        file, during any period in which offers or sales are being made, a
        post-effective amendment to this registration statement:
(i) to
        include any prospectus required by Section 10(a)(3) of the Securities Act
        of 1933;
(ii) to
        reflect in the prospectus any facts or events arising after the effective
        date
        of the registration statement (or the most recent post-effective amendment
        thereof) which, individually or in the aggregate, represent a fundamental
        change
        in the information set forth in the registration statement;
(iii) to include any material information with respect to the plan of
        distribution not previously disclosed in the registration statement or any
        material change to such information in the registration statement;
Provided,
        however
,
        that
        paragraphs (A)(1)(i) and (A)(1)(ii) do not apply if the information required
        to
        be included in a post-effective amendment by those paragraphs is contained
        in
        periodic reports filed with or furnished to the Commission by the registrant
        pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of
        1934 that are incorporated by reference in the registration statement.
(2)
        That,
        for the purpose of determining any liability under the Securities Act of
        1933,
        each such post-effective amendment shall be deemed to be a new registration
        statement relating to the securities offered therein, and the offering of
        such
        securities at that time shall be deemed to be the initial bona fide offering
        thereof.
(3) To
        remove from registration by means of a post-effective amendment any of the
        securities being registered which remain unsold at the termination of the
        offering.
B.
        The
        undersigned registrant hereby undertakes that, for purposes of determining
        any
        liability under the Securities Act of 1933, each filing of the registrant's
        annual report pursuant to Section 13(a) or Section 15(d) of the Securities
        Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
        plan's annual report pursuant to Section 15(d) of the Exchange Act) that is
        incorporated by reference in the registration statement shall be deemed to
        be a
        new registration statement relating to the securities offered therein, and
        the
        offering of such securities at that time shall be deemed to be the initial
        bona
        fide offering thereof.
C.
        Insofar as indemnification for liabilities arising under the Securities Act
        of
        1933 may be permitted to directors, officers and controlling persons of the
        registrant pursuant to the foregoing provisions, or otherwise, the registrant
        has been advised that in the opinion of the Securities and Exchange Commission
        such indemnification is against public policy as expressed in the Act and
        is,
        therefore, unenforceable. In the event that a claim for indemnification against
        such liabilities (other than the payment by the registrant of expenses incurred
        or paid by a director, officer or controlling person of the registrant in
        the
        successful defense of any action, suit or proceeding) is asserted by such
        director, officer or controlling person in connection with the securities
        being
        registered, the registrant will, unless in the opinion of its counsel the
        matter
        has been settled by controlling precedent, submit to a court of appropriate
        jurisdiction the question whether such indemnification by it is against public
        policy as expressed in the Act and will be governed by the final adjudication
        of
        such issue.
5
SIGNATURES
The
        Registrant.
Pursuant
        to the requirements of the Securities Act of 1933, the Registrant certifies
        that
        it has reasonable grounds to believe that it meets all of the requirements
        for
        filing on Form S-8 and has duly caused this Registration Statement to be
        signed
        on its behalf by the undersigned thereunto duly authorized in the City of
        Dallas, State of Texas on December 14, 2006.
SOUTHWEST
        AIRLINES
        CO.
By:
/s/
        Laura Wright
Laura
        Wright
Senior Vice President-Finance,
Chief Financial Officer
Pursuant
        to the requirements of the Securities Act of 1933, this Registration Statement
        has been signed by the following persons in the capacities indicated on December
        14, 2006.
Signature
Capacity
/
s/
                    Herbert D. Kelleher
Chairman
                    of the
                    Board of Directors
Herbert
                    D. Kelleher
/s/
                    Gary C. Kelly
Vice
                    Chairman of the Board of Directors
Gary
                    C. Kelly
and
                    Chief Executive Officer
/s/
                    Laura Wright
Senior
                    Vice President-Finance
Laura
                    Wright
(Principal
                    Financial and Accounting Officer)
/s/
                    Colleen C. Barrett
Director
                    and
                    President
Colleen
                    C. Barrett
/s/
                    David W. Biegler
Director
David
                    W. Biegler
/s/
                    William P. Hobby
Director
William
                    P. Hobby
/s/
                    Travis C. Johnson
Director
Travis
                    C. Johnson
/s/
                    Louis E. Caldera
Director
Louis
                    E. Caldera
/s/
                    Nancy B. Loeffler
Director
Nancy
                    B. Loeffler
/s/
                    C. Webb Crockett
Director
C.
                    Webb Crockett
/s/
                    John T. Montford
Director
John
                    T. Montford
/s/WilliamH.Cunningham
Director
William
                    H. Cunningham
6
INDEX
        TO EXHIBITS
4.1
Restated
                  Articles of Incorporation of Southwest (incorporated by reference
                  to
                  Exhibit 4.1 to Southwest's Registration Statement on Form S-3
                  (File No. 33-52155)); Amendment to Restated Articles of Incorporation
                  of Southwest (incorporated by reference to Exhibit 3.1 to Southwest's
                  Quarterly Report on Form 10-Q for the quarter ended June 30,
                  1996 (File No. 1-7259)); Amendment to Restated Articles of
                  Incorporation of Southwest (incorporated by reference to Exhibit 3.1
                  to Southwest's Quarterly Report on Form 10-Q for the quarter ended
                  June 30, 1998 (File No. 1-7259)); Amendment to Restated Articles
                  of Incorporation of Southwest (incorporated by reference to
                  Exhibit 4.2 to Southwest's Registration Statement on Form S-8
                  (File No. 333-82735); Amendment to Restated Articles of Incorporation
                  of Southwest (incorporated by reference to Exhibit 3.1 to Southwest's
                  Quarterly Report on Form 10-Q for the quarter ended June 30,
                  2001 (File No. 1-7259)).
4.2
Bylaws
                  of Southwest, as amended through January 2005 (incorporated by
                  reference
                  to Exhibit 3.2 to Southwest's Current Report on Form 8-K dated
                  January 25, 2005 (File
                  No. 1-7259)).
4.3
Specimen
                  certificate representing Common Stock of Southwest (incorporated
                  by
                  reference to Exhibit 4.2 to Southwest's Annual Report on Form 10-K for the
                  year ended December 31, 1994 (File No.
                  1-7259)).
5
Opinion
                  of Deborah Ackerman, Vice President-General Counsel of the Company.
23.1
Consent
                  of Ernst & Young LLP.
23.2
Consent
                  of Deborah Ackerman, Vice President-General Counsel of the Company
                  (contained in the opinion filed as Exhibit 5
                  hereto).
99
Southwest
                  Airlines Co. 1991 Employee Stock Purchase Plan, as amended March
                  16,
                  2006.
7