Southwest Airlines Co. filings document the operating results, governance, capital structure, and material events of a New York Stock Exchange-listed airline. Its 8-K reports furnish quarterly earnings releases, Regulation FD outlook updates, board changes, and material agreements connected to financing and operating performance.
The company’s regulatory record also includes proxy materials covering director elections, executive compensation, shareholder voting matters, and board governance. Financing-related filings describe senior debt securities, indenture terms, secured credit facilities, aircraft-related collateral, registered common stock, and other obligations that affect Southwest’s capital structure and risk disclosures.
Southwest Airlines Co EVP & Chief Commercial Officer Justin Jones received a grant of 8,568 restricted stock units on August 5, 2026 under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. The units vest in one-third increments annually beginning August 21, 2027 and convert into one share of common stock per unit upon vesting. Following this award, Jones directly holds 85,784 shares of Southwest Airlines common stock.
Roach Anthony reported acquisition or exercise transactions in this Form 4 filing.
Anthony Roach, Chief Customer & Brand Officer of Southwest Airlines, received a grant of 9,506 restricted stock units under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan. These RSUs vest in three equal annual installments starting August 21, 2027 and entitle him to one share of common stock for each unit that vests. After this exempt award, Roach holds 73,178.543 common shares directly and 79 shares indirectly through the company’s Retirement Savings Plan.
Woods Lauren Tauscher reported acquisition or exercise transactions in this Form 4 filing.
Southwest Airlines Co EVP & CIO Lauren Tauscher Woods reported an exempt grant of 7,598 restricted stock units representing common stock on August 5, 2026, at $0.00 per unit under the Amended and Restated 2007 Equity Incentive Plan. These RSUs vest one-third annually beginning August 21, 2027 and will deliver one share per unit upon vesting, bringing her direct holdings to 56,658.216 shares.
Watterson Andrew M reported acquisition or exercise transactions in this Form 4 filing.
Southwest Airlines reported that Chief Operating Officer Andrew M. Watterson received an exempt grant of 2,995 restricted stock units under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan on August 5, 2026. The units will vest in three annual installments beginning on August 21, 2027, each RSU entitling him to one share of common stock upon vesting. Following this award, he is reported with 209,840 shares held directly and 18,101 shares held indirectly through a Retirement Savings Plan, which reflect exempt plan transactions.
Jordan Robert E reported acquisition or exercise transactions in this Form 4 filing.
Southwest Airlines CEO & President Robert E. Jordan received a grant of 28,321 restricted stock units on August 5, 2026 under the Southwest Airlines Co. Amended and Restated 2007 Equity Incentive Plan.
The units vest in three equal annual installments beginning August 21, 2027. After the award he directly owned 534,055 shares, plus 113,768 additional shares held indirectly through a Retirement Savings Plan.
Doxey Tom reported acquisition or exercise transactions in this Form 4 filing.
Southwest Airlines reported that EVP and Chief Financial Officer Tom Doxey received a grant of 6,316 restricted stock units that will settle in common stock under its Amended and Restated 2007 Equity Incentive Plan. The units vest one-third annually beginning August 21, 2027, leaving him with 111,116 directly held shares.
Southwest Airlines Co. updated senior leadership pay structures after a review of compensation at major U.S. airlines. On August 5, 2026, the board’s Compensation Committee approved new annual base salaries and long-term incentive opportunity targets, effective August 15, 2026, for key officers, including the named executive officers.
President, Chief Executive Officer & Vice Chairman Bob Jordan’s base salary was set at $1,225,000, with a long-term incentive opportunity target of 1200% of base salary and a short-term incentive target of 200%. The Chief Operating Officer’s base salary was set at $815,000 with a 500% long-term and 150% short-term incentive target. Three Executive Vice Presidents each received a base salary of $805,000, with 500% long-term and 135% short-term incentive targets. The Committee aligned compensation more closely with the average total direct compensation of American Airlines Group Inc., Delta Air Lines, Inc., and United Airlines Holdings, Inc., using reported 2025 peer data without aging it forward.
Southwest Airlines Co. reported stronger results for the quarter ended June 30, 2026, with operating revenues of $8,432 million, up 16.4% year-over-year and an all‑time quarterly record. GAAP net income was $233 million (diluted EPS $0.47), while non‑GAAP net income rose to $465 million (diluted EPS $0.94).
Passenger revenue increased 16.9% to $7,745 million, driven by more customers buying higher fare categories and new ancillary products, including first and second checked bag fees (effective May 28, 2025) and assigned/extra‑legroom seating (effective January 27, 2026). RASM rose 16.2%, while CASM increased 15.8% as Aircraft fuel and related taxes jumped 67.0% and fuel cost per gallon reached $3.92.
A key item was a $285 million reversal of previously recognized breakage revenue tied to non‑expiring flight credits, which reduced Q2 2026 net income by $185 million, or $0.37 per diluted share. Cash and cash equivalents were $3,791 million, operating cash flow for the first half was $1,947 million, and capital expenditures were $1,448 million. The company added a secured $1.5 billion term loan and has Boeing MAX capital commitments of $14.8 billion through 2031, including $3.9 billion in the remainder of 2026.
Southwest Airlines Co. reported strong second quarter 2026 results, with operating revenues of $8.4 billion, up 16.4% year-over-year, and record adjusted operating revenues of $8.7 billion, up 20.3%. Net income was $233 million, or $0.47 diluted EPS, while adjusted net income was $465 million, or $0.94 adjusted EPS.
Operating margin was 3.4%, and adjusted operating margin reached 6.7% despite fuel expense rising $889 million, with fuel at $3.92 per gallon and an estimated $1.17 headwind to adjusted EPS. Capacity grew 0.2%, RASM increased 16.2%, and adjusted RASM rose 20.1%.
Liquidity totaled $5.3 billion, including $3.8 billion of cash and cash equivalents, and gross leverage was 2.1x. For third quarter 2026, adjusted EPS is guided to $0.50–$0.75, and full-year 2026 adjusted EPS to $3.25–$4.25, replacing a prior expectation of at least $4.00.
Southwest Airlines Co. entered into an amendment to its senior secured term loan facility, adding $1.0 billion of incremental term loans and increasing total outstanding term loans under the facility to $1.5 billion.
The amended term loans mature on March 11, 2029, bear interest on substantially the same terms as the original agreement, and may be prepaid at any time without premium or penalty, although repaid amounts cannot be reborrowed. The obligations are secured by a pool of aircraft and related assets, subject to a minimum collateral coverage ratio and flexibility to add, remove, or replace collateral if that ratio is maintained.
The amendment also updates the uncommitted incremental feature to permit up to an additional $1.0 billion of future incremental term loan commitments under the same credit agreement, while the company’s existing revolving credit facility remains unchanged.