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.

• For the quarter ending Q2 2026, Operating Leases fell 27.87% year-over-year to $660.0 million; the trailing twelve-month figure through Jun 2026 stood at $660.0 million (down 27.87% YoY), and the FY2025 full-year result was $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.
• Across five years, Operating Leases topped out at $1.5 billion in Q4 2022 and bottomed at $660.0 million in Q2 2026.
• Historically, Operating Leases has averaged $1.0 billion across 5 years, with a median of $1.0 billion in 2023.
• The sharpest annual moves came in 2024 and 2025: Operating Leases climbed 11.8% in 2024, then tumbled 47.03% in 2025.
• Over 5 years, Operating Leases stood at $1.5 billion in 2022, then decreased by 15.34% to $1.3 billion in 2023, then grew by 11.8% to $1.5 billion in 2024, then sank by 47.03% to $768.0 million in 2025, then dropped 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.