Southwest Airlines (LUV) Total Debt (2009 - 2026)

Southwest Airlines has reported Total Debt for 18 years, with the latest figure at $5.4 billion in Q1 2026.

• For the quarter ending Q1 2026, Total Debt fell 19.52% year-over-year to $5.4 billion; the trailing twelve-month figure through Mar 2026 stood at $5.4 billion (down 19.52% YoY), and the FY2025 full-year result was $4.9 billion, down 26.84% from the prior year.
• Total Debt for Q1 2026 stood at $5.4 billion, up from $4.9 billion in the prior quarter.
• The five-year high for Total Debt was $10.7 billion in Q1 2022, with the low at $4.1 billion in Q3 2025.
• Historically, Total Debt has averaged $7.4 billion across 5 years, with a median of $8.0 billion in 2024.
• Annual changes were most pronounced in 2024 — Total Debt dropped 0.11% — and 2025, when it plunged 48.76%.
• Southwest Airlines' Total Debt 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 9.92% to $5.4 billion in 2026.
• The last three Total Debt figures came in at $5.4 billion (Q1 2026), $4.9 billion (Q4 2025), and $4.1 billion (Q3 2025), per Business Quant data.