Using the cash flow statement for Southwest Airlines for 2019 and 2020 and Skywest Airlines for 2019 and 2020.

1. Compute Free Cash Flow for 2019 and 2020 for both companies.

2. In a sentence or two, what conclusions can be drawn from this data?

3. Review the cash flow statements for 2019 and 2020 for Southwest Airlines. What are the main sources of cash financing for 2019? 2020?

4. Did you see a change in dividend policy for either company based on your review of the cash flow statements for 2020 and 2019?