Southwest Airlines (LUV) Operating Leases (2011 - 2026)

Southwest Airlines (LUV) has reported Operating Leases for 10 consecutive years, with $660.0 million the latest figure, recorded in Q2 2026.

• Quarterly Operating Leases fell 27.87% year-over-year to $660.0 million in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $660.0 million (down 27.87% YoY) and the FY2025 annual result came in at $768.0 million, down 47.03% from the prior year.
• Operating Leases fell to $660.0 million in Q2 2026 per LUV's latest filing, from $709.0 million in the prior quarter.
• Over the last five years, Operating Leases for LUV reached as high as $1.5 billion in Q4 2022 and fell as low as $9.0 million in Q1 2025.
• A 5-year average of $991.7 million and a median of $996.0 million in 2023 frame the typical range for Operating Leases.
• Annual changes were most pronounced in 2025 — Operating Leases slumped 99.06% — and 2026, when it soared 7777.78%.
• Year by year, Operating Leases stood at $1.5 billion in 2022, then slipped by 15.34% to $1.3 billion in 2023, then increased by 11.8% to $1.5 billion in 2024, then plunged by 47.03% to $768.0 million in 2025, then declined by 14.06% to $660.0 million in 2026.
• According to Business Quant data, Operating Leases over the past three periods registered $660.0 million, $709.0 million, and $768.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.