Southwest Airlines (LUV) Total Debt (2009 - 2026)
Southwest Airlines' (LUV) quarterly Total Debt came in at $5.9 billion in Q2 2026, up 44.92% YoY from $4.1 billion in Q2 2025, and up 10.38% on a QoQ basis from $5.4 billion in Q1 2026.
Southwest Airlines (LUV) Total Debt (2009 - 2026) Analysis & Trends
Southwest Airlines (LUV) has 18 years of Total Debt data on file, last reported at $5.9 billion in Q2 2026.
- Quarterly Total Debt rose 44.92% year-over-year to $5.9 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $5.9 billion (up 44.92% YoY) and the FY2025 annual result came in at $4.9 billion, down 26.84% from the prior year.
- Total Debt climbed to $5.9 billion in Q2 2026, from $5.4 billion in the prior quarter.
- In the past five years, Total Debt ranged from a high of $10.7 billion in Q1 2022 to a low of $28.0 million in Q1 2024.
- A 5-year average of $5.0 billion and a median of $5.1 billion in 2025 frame the typical range for Total Debt.
- Annual changes were most pronounced in 2023 — Total Debt tumbled 99.71% — and 2025, when it jumped 23807.14%.
- Tracing LUV's Total Debt over 5 years: stood at $8.1 billion in 2022, then dropped by 1.0% to $8.0 billion in 2023, then retreated by 16.34% to $6.7 billion in 2024, then decreased by 26.84% to $4.9 billion in 2025, then grew by 21.32% to $5.9 billion in 2026.
- The last three Total Debt figures came in at $5.9 billion (Q2 2026), $5.4 billion (Q1 2026), and $4.9 billion (Q4 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.01 Bn | 48.34 Bn | 19.07 Bn | 16.35 Bn |
| 2 | Ryanair Holdings | 28.78 Bn | 25.56 Bn | - | 44.52 Mn |
| 3 | Southwest Airlines | 19.50 Bn | 15.71 Bn | 7.33 Bn | 5.95 Bn |
| 4 | Copa Holdings | 5.30 Bn | 4.04 Bn | 1.03 Bn | 2.27 Bn |
| 5 | Alaska Air | 4.46 Bn | 1.80 Bn | 3.76 Bn | 6.50 Bn |
| 6 | Skywest | 3.98 Bn | 3.38 Bn | 1.01 Bn | 2.31 Bn |
| 7 | Jetblue Airways | 1.79 Bn | -232.60 Mn | 2.32 Bn | 8.96 Bn |
| 8 | Allegiant Travel | 1.75 Bn | 695.62 Mn | 902.77 Mn | 3.10 Bn |
| 9 | Frontier Group Holdings | 1.33 Bn | 373.12 Mn | - | 717.00 Mn |
| 10 | Republic Airways Holdings | 843.32 Mn | 565.72 Mn | 487.40 Mn | 1.06 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 5.95 Bn |
| Mar 31, 2026 | 5.39 Bn |
| Dec 31, 2025 | 4.90 Bn |
| Sep 30, 2025 | 4.10 Bn |
| Jun 30, 2025 | 4.10 Bn |
| Mar 31, 2025 | 6.69 Bn |
| Dec 31, 2024 | 6.70 Bn |
| Sep 30, 2024 | 2.93 Bn |
| Jun 30, 2024 | 2.93 Bn |
| Mar 31, 2024 | 28.00 Mn |
| Dec 31, 2023 | 8.01 Bn |
| Sep 30, 2023 | 30.00 Mn |
| Jun 30, 2023 | 31.00 Mn |
| Mar 31, 2023 | 32.00 Mn |
| Dec 31, 2022 | 8.09 Bn |
| Sep 30, 2022 | 8.70 Bn |
| Jun 30, 2022 | 10.54 Bn |
| Mar 31, 2022 | 10.72 Bn |
| Dec 31, 2021 | 10.73 Bn |
| Sep 30, 2021 | 11.24 Bn |