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

Southwest Airlines (LUV) has 10 years of Operating Leases data on file, last reported at $709.0 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Leases rose 7777.78% year-over-year to $709.0 million; the trailing twelve-month figure through Mar 2026 stood at $709.0 million (up 7777.78% YoY), and the FY2025 full-year result was $768.0 million, down 47.03% from the prior year.
• Operating Leases for Q1 2026 stood at $709.0 million, down from $768.0 million in the prior quarter.
• Across five years, Operating Leases topped out at $1.5 billion in Q4 2022 and bottomed at $9.0 million in Q1 2025.
• The 5-year median for Operating Leases is $985.0 million (2023), against an average of $992.8 million.
• The widest annual swing landed in 2025, when Operating Leases sank 99.06%; it then surged 7777.78% in 2026.
• A 5-year view of Operating Leases shows it stood at $1.5 billion in 2022, then sank by 35.7% to $985.0 million in 2023, then jumped by 47.21% to $1.5 billion in 2024, then slumped by 47.03% to $768.0 million in 2025, then fell by 7.68% to $709.0 million in 2026.
• The last three Operating Leases figures came in at $709.0 million (Q1 2026), $768.0 million (Q4 2025), and $846.0 million (Q3 2025), per Business Quant data.

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