Recent Updates — LUV
Southwest Airlines Co. terminated its existing revolving credit facility dated August 3, 2016, and entered into a new $2 billion five-year revolving credit agreement on August 10, 2026. The new facility matures on August 10, 2031, with options for two one-year extensions. It includes an uncommitted accordion feature allowing the facility size to increase to $3 billion. Interest rates are based on Term SOFR or Alternate Base Rate plus applicable margins ranging from 0.875% to 1.625% and 0.000% to 0.625%, respectively, with a SOFR floor of 1.00%. The agreement requires a Collateral Coverage Test maintaining a minimum aggregate appraised value of aircraft assets at 1.25 times the commitment and a financial coverage ratio of 1.25 to 1.00, reducible to 0.80 to 1.00 for two consecutive quarters. JPMorgan Chase Bank, N.A., and Citibank, N.A. serve as co-administrative agents. Southwest Airlines Co. operates in the airline industry, providing domestic and international passenger air transportation services.
Southwest Airlines Co. appointed Varun Krishna and Jason T. Liberty to its Board of Directors effective August 10, 2026. Mr. Krishna serves as CEO of Rocket Companies, Inc., while Mr. Liberty is Chair and CEO of Royal Caribbean Cruises Ltd. The Board increased its size to thirteen members upon these appointments. Neither director was assigned to a committee, and no material conflicts of interest were disclosed. Southwest Airlines Co. operates in the airline industry, providing domestic and international passenger air transportation services.
Southwest Airlines Co.'s Compensation Committee approved changes to annual base salaries and long-term incentive opportunity targets for certain officers, including named executive officers, effective August 15, 2026. The Board recommended and independent directors approved a salary increase for CEO Bob Jordan. The Committee realigned executive compensation with the average total direct compensation of American Airlines Group Inc., Delta Air Lines, Inc., and United Airlines Holdings, Inc., citing transformation success and retention risks. Approved base salaries include $1,225,000 for Bob Jordan, $815,000 for COO Andrew Watterson, and $805,000 each for CFO Tom Doxey, Chief Commercial Officer Justin Jones, and Chief Customer & Brand Officer Anthony Roach. Long-term incentive targets range from 500% to 1200% of base salary. Southwest Airlines Co. operates in the airline industry, providing domestic and international air transportation services.
Southwest Airlines Co. reported second quarter 2026 financial results with record operating revenues of $8.4 billion, a 16.4% increase year-over-year. Net income was $233 million, or $0.47 diluted EPS, while adjusted net income was $465 million, or $0.94 adjusted EPS. The company is guiding full-year 2026 adjusted EPS in the range of $3.25 to $4.25, which replaces its prior expectation of at least $0.00. Southwest Airlines Co. operates in the airline industry and provides air transportation services.
Southwest Airlines has released its financial results for the first quarter of 2026. This announcement is a critical event for investors to evaluate the company's recent operational performance and overall financial health.
Southwest Airlines has released its financial results for the fourth quarter and full year 2025. This announcement is a key event for investors to evaluate the company's annual profitability and overall fiscal performance.