Southwest Airlines: No Layoff Plans

Southwest Airlines on Monday said it had no plans to lay off employees even though it is considering a number of other options to deal with the unprecedented financial crisis facing the airline industry.

The airline had a long-standing line of credit totaling $475 million that it tapped last week, in addition to $1 billion cash on hand at the end of the second quarter, Gary Kelly, its chief financial officer, said.

``We pulled that down and got the cash,'' Kelly said of the credit line. ``We had close to $1 billion at our last quarterly SEC filing for the second quarter, and it's higher than that now.''

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