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Shares of Dallas-based Southwest, the nation's fourth-biggest airline, climbed nearly 20 percent during 2012 and were up another 25 percent since the start of 2013, through Thursday's close. Airline stocks have benefited from consolidation, as investors expect a series of mergers to increase the pricing power and profitability of the remaining carriers. Kelly joined Southwest in 1986 and held a succession of finance jobs including chief financial officer. He was named CEO in 2004 and added the chairman's title in 2008.
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