Southwest Airlines (LUV) Operating Leases (2011 - 2026)
Southwest Airlines' (LUV) quarterly Operating Leases came in at $660.0 million in Q2 2026, down 27.87% YoY from $915.0 million in Q2 2025, and down 6.91% on a QoQ basis from $709.0 million in Q1 2026.
Southwest Airlines (LUV) Operating Leases (2011 - 2026) Analysis & Trends
Southwest Airlines (LUV) has 10 years of Operating Leases data on file, last reported at $660.0 million 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 slipped to $660.0 million in Q2 2026, from $709.0 million in the prior quarter.
- In the past five years, Operating Leases ranged from a high of $1.5 billion in Q4 2022 to a low of $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 tumbled 99.06% — and 2026, when it surged 7777.78%.
- Tracing LUV's Operating Leases over 5 years: stood at $1.5 billion in 2022, then fell by 15.34% to $1.3 billion in 2023, then advanced by 11.8% to $1.5 billion in 2024, then tumbled by 47.03% to $768.0 million in 2025, then decreased by 14.06% to $660.0 million in 2026.
- The last three Operating Leases figures came in at $660.0 million (Q2 2026), $709.0 million (Q1 2026), and $768.0 million (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Delta Air Lines | 53.01 Bn | 48.34 Bn | 19.07 Bn |
| 2 | Ryanair Holdings | 28.78 Bn | 25.56 Bn | - |
| 3 | Southwest Airlines | 19.50 Bn | 15.71 Bn | 7.33 Bn |
| 4 | Copa Holdings | 5.30 Bn | 4.04 Bn | 1.03 Bn |
| 5 | Alaska Air | 4.46 Bn | 1.80 Bn | 3.76 Bn |
| 6 | Skywest | 3.98 Bn | 3.38 Bn | 1.01 Bn |
| 7 | Jetblue Airways | 1.79 Bn | -232.60 Mn | 2.32 Bn |
| 8 | Allegiant Travel | 1.75 Bn | 695.62 Mn | 902.77 Mn |
| 9 | Frontier Group Holdings | 1.33 Bn | 373.12 Mn | - |
| 10 | Republic Airways Holdings | 843.32 Mn | 565.72 Mn | 487.40 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 660.00 Mn |
| Mar 31, 2026 | 709.00 Mn |
| Dec 31, 2025 | 768.00 Mn |
| Sep 30, 2025 | 846.00 Mn |
| Jun 30, 2025 | 915.00 Mn |
| Mar 31, 2025 | 9.00 Mn |
| Dec 31, 2024 | 1.45 Bn |
| Sep 30, 2024 | 888.00 Mn |
| Jun 30, 2024 | 915.00 Mn |
| Mar 31, 2024 | 953.00 Mn |
| Dec 31, 2023 | 1.30 Bn |
| Sep 30, 2023 | 1.04 Bn |
| Jun 30, 2023 | 1.08 Bn |
| Mar 31, 2023 | 1.11 Bn |
| Dec 31, 2022 | 1.53 Bn |
| Sep 30, 2022 | 1.18 Bn |
| Jun 30, 2022 | 1.22 Bn |
| Mar 31, 2022 | 1.28 Bn |
| Dec 31, 2021 | 2.01 Bn |
| Sep 30, 2021 | 1.33 Bn |