SOUTHWEST AIRLINES CO — Director's Dealing 2004

Dec 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SOUTHWEST AIRLINES CO (LUV)
CIK: 0000092380
Period of Report: 2004-12-17

Reporting Person: PARKER JAMES F (Former Officer and Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-17	Common Stock	M	255	$3.33	Acquired	244881	Direct
2004-12-17	Common Stock	S	255	$15.8	Disposed	244626	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-17	Option (Right to Buy)	$3.33	M	255	Acquired	2005-01-01	Common Stock (255)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3321	Indirect
Common Stock	38320	Indirect

Footnotes

F1: These shares held by reporting person as custodian for child (daughter).

F2: The information reported herein is based on a plan statement dated 12/31/03.

F3: Options granted from the 1991 NQ Plan.