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

Southwest Airlines has reported Operating Leases for 10 years, with the latest figure 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.
• The five-year high for Operating Leases was $1.5 billion in Q4 2022, with the low at $9.0 million in Q1 2025.
• Historically, Operating Leases has averaged $992.8 million across 5 years, with a median of $985.0 million in 2023.
• Annual changes were most pronounced in 2025 — Operating Leases tumbled 99.06% — and 2026, when it surged 7777.78%.
• Southwest Airlines' Operating Leases stood at $1.5 billion in 2022, then slumped by 35.7% to $985.0 million in 2023, then soared by 47.21% to $1.5 billion in 2024, then tumbled by 47.03% to $768.0 million in 2025, then declined 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.