SOUTHWEST AIRLINES CO — Director's Dealing 2007

Jan 24, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SOUTHWEST AIRLINES CO (LUV)
CIK: 0000092380
Period of Report: 2007-01-24

Reporting Person: KELLEHER HERBERT D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-24	Common Stock	S	20000	$15.26	Disposed	3821818	Direct
2007-01-24	Common Stock	S	6300	$15.27	Disposed	3815518	Direct
2007-01-24	Common Stock	S	10000	$15.28	Disposed	3805518	Direct
2007-01-24	Common Stock	S	10000	$15.29	Disposed	3795518	Direct
2007-01-24	Common Stock	S	3700	$15.3	Disposed	3791818	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	304380	Indirect

Footnotes

F1: Reporting person holds these shares for the benefit of other individuals. The reporting person's spouse is a principal. The reporting person disclaims beneficial ownership of these shares, and the filing of this report is not an admission that reporting person is a beneficial owner of these shares for purposes of Section 16 or for any other purposes.