Passenger Non-Loyalty was Southwest Airlines’s largest product and service line in fiscal 2025, bringing in $20.44B of $28.06B (73%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Passenger Non-Loyalty | $17.65B | $19.07B | $20.47B | $20.44B | ||||||
| Passenger Revenue Non Loyalty | — | — | — | — | ||||||
| Passenger Loyalty - Air Transportation | $3.03B | $3.64B | $3.48B | $3.26B | ||||||
| Passenger Loyalty Air Transportation | — | — | — | — | ||||||
| Other | $2.23B | $2.28B | $2.33B | $2.36B | ||||||
| Passenger Ancillary Sold Separately | $735.00M | $925.00M | $1.03B | $1.84B | ||||||
| Passenger | — | — | — | — | ||||||
| Freight | $177.00M | $175.00M | $175.00M | $171.00M | ||||||
| Total | $23.81B | $26.09B | $27.48B | $28.06B |
Southwest Airlines brought in $28.06B from its five product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 2.1% from $27.48B in fiscal 2024. Passenger Non-Loyalty was the largest at $20.44B (72.8%), ahead of Passenger Loyalty - Air Transportation at $3.26B (11.6%) and Other at $2.36B (8.4%). The other two lines brought in $2.01B combined.
Compared with fiscal 2024, Passenger Ancillary Sold Separately grew fastest, up 78.3% to $1.84B, while Passenger Loyalty - Air Transportation fell the most, down 6.5% to $3.26B. From fiscal 2022 to 2025, combined revenue from these lines grew from $23.81B to $28.06B, a compound annual growth rate of 5.6%. Passenger Non-Loyalty's share of the total fell from 74.1% to 72.8%.
North America was Southwest Airlines’s largest region in fiscal 2025, bringing in $27.30B of $28.06B (97%).
| Geography | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| North America | $23.00B | $25.00B | $26.70B | $27.30B | ||||||
| Latin America | $811.00M | $828.00M | $798.00M | $756.00M | ||||||
| Total | $23.81B | $25.83B | $27.50B | $28.06B |
Southwest Airlines brought in $28.06B from its two regions in fiscal 2025, the year ended December 31, 2025. That was up 2.0% from $27.50B in fiscal 2024. North America was the largest at $27.30B (97.3%), ahead of Latin America at $756.00M (2.7%).
Compared with fiscal 2024, North America grew 2.2% to $27.30B, while Latin America fell 5.3% to $756.00M. From fiscal 2022 to 2025, combined revenue from these regions grew from $23.81B to $28.06B, a compound annual growth rate of 5.6%. North America's share of the total rose from 96.6% to 97.3%.
Scenario, Previously Reported was Southwest Airlines’s largest revenue line in fiscal 2016, bringing in $18.59B of $19.07B (98%).
| Adjustments for New Accounting Pronouncements | FY 2016 |
|---|---|
| Scenario, Previously Reported | $18.59B |
| Restatement Adjustment | $474.00M |
| Total | $19.07B |
Southwest Airlines brought in $19.07B from its two revenue lines in fiscal 2016, the year ended December 31, 2016. Scenario, Previously Reported was the largest at $18.59B (97.5%), ahead of Restatement Adjustment at $474.00M (2.5%).
Southwest Airlines (LUV) reports its revenue by product and service, by geography and by adjustments for new accounting pronouncements. In fiscal 2025, Passenger Non-Loyalty was its largest product and service line, bringing in $20.44B (72.8% of the total), followed by Passenger Loyalty - Air Transportation at $3.26B (11.6%).
Passenger Non-Loyalty was Southwest Airlines' largest product and service line in fiscal 2025, bringing in $20.44B, or 72.8% of the $28.06B total across its five product and service lines.
North America was Southwest Airlines' largest region in fiscal 2025, bringing in $27.30B, or 97.3% of the $28.06B total across its two regions.
Scenario, Previously Reported was Southwest Airlines' largest revenue line in fiscal 2016, bringing in $18.59B, or 97.5% of the $19.07B total across its two revenue lines.
Among Southwest Airlines' product and service lines that make up at least 2% of revenue, Passenger Ancillary Sold Separately grew fastest in fiscal 2025, up 78.3% from $1.03B to $1.84B.
Every figure comes from Southwest Airlines' annual financial filings, as reported. Each line keeps the name Southwest Airlines gives it, and years follow its fiscal calendar.
Southwest Airlines' revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.