Southwest Airlines annual operating expenses
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Southwest Airlines Operating Expenses Growth & History (LUV)
Southwest Airlines's operating expenses was $27.64B for fiscal 2025.
View full Southwest Airlines company overviewSouthwest Airlines annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $27.64B | $473.0M | +1.74% |
| 2024 | 2024-12-31 | $27.16B | $1.29B | +5.01% |
| 2023 | 2023-12-31 | $25.87B | $3.07B | +13.47% |
| 2022 | 2022-12-31 | $22.80B | $8.73B | +62.04% |
| 2021 | 2021-12-31 | $14.07B | $1.21B | +9.37% |
| 2020 | 2020-12-31 | $12.86B | −$6.61B | −33.93% |
| 2019 | 2019-12-31 | $19.47B | $712.0M | +3.80% |
| 2018 | 2018-12-31 | $18.76B | $1.02B | +5.75% |
| 2017 | 2017-12-31 | $17.74B | $972.0M | +5.80% |
| 2016 | 2016-12-31 | $16.77B | $1.06B | +6.77% |
| 2015 | 2015-12-31 | $15.70B | −$676.0M | −4.13% |
| 2014 | 2014-12-31 | $16.38B | −$41.0M | −0.25% |
| 2013 | 2013-12-31 | $16.42B | −$44.0M | −0.27% |
| 2012 | 2012-12-31 | $16.46B | $1.50B | +10.02% |
| 2011 | 2011-12-31 | $14.96B | $3.85B | +34.63% |
| 2010 | 2010-12-31 | $11.12B | $1.03B | +10.19% |
| 2009 | 2009-12-31 | $10.09B | −$486.0M | −4.60% |
| 2008 | 2008-12-31 | $10.57B | $1.50B | +16.58% |
| 2007 | 2007-12-31 | $9.07B | — | — |
Southwest Airlines quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $8.15B | $1.13B | +16.07% |
| Q1 2026 | 2026-03-31 | $6.92B | $268.0M | +4.03% |
| Q4 2025 | 2025-12-31 | $7.05B | $399.0M | +6.00% |
| Q3 2025 | 2025-09-30 | $6.91B | $82.0M | +1.20% |
| Q2 2025 | 2025-06-30 | $7.02B | $63.0M | +0.91% |
| Q1 2025 | 2025-03-31 | $6.65B | −$71.0M | −1.06% |
| Q4 2024 | 2024-12-31 | $6.65B | −$575.0M | −7.96% |
| Q3 2024 | 2024-09-30 | $6.83B | $424.0M | +6.62% |
| Q2 2024 | 2024-06-30 | $6.96B | $714.0M | +11.44% |
| Q1 2024 | 2024-03-31 | $6.72B | $732.0M | +12.22% |
| Q4 2023 | 2023-12-31 | $7.23B | $670.0M | +10.22% |
| Q3 2023 | 2023-09-30 | $6.41B | $583.0M | +10.01% |
| Q2 2023 | 2023-06-30 | $6.24B | $672.0M | +12.06% |
| Q1 2023 | 2023-03-31 | $5.99B | $1.15B | +23.63% |
| Q4 2022 | 2022-12-31 | $6.56B | $1.70B | +35.03% |
| Q3 2022 | 2022-09-30 | $5.83B | $1.88B | +47.62% |
| Q2 2022 | 2022-06-30 | $5.57B | $2.16B | +63.15% |
| Q1 2022 | 2022-03-31 | $4.84B | $2.99B | +161.47% |
| Q4 2021 | 2021-12-31 | $4.86B | $1.68B | +52.66% |
| Q3 2021 | 2021-09-30 | $3.95B | $742.0M | +23.16% |
| Q2 2021 | 2021-06-30 | $3.41B | $1.28B | +59.91% |
| Q1 2021 | 2021-03-31 | $1.85B | −$2.49B | −57.34% |
| Q4 2020 | 2020-12-31 | $3.18B | −$1.89B | −37.21% |
| Q3 2020 | 2020-09-30 | $3.20B | −$1.62B | −33.53% |
| Q2 2020 | 2020-06-30 | $2.13B | −$2.81B | −56.79% |
| Q1 2020 | 2020-03-31 | $4.34B | −$300.0M | −6.46% |
| Q4 2019 | 2019-12-31 | $5.07B | $182.0M | +3.73% |
| Q3 2019 | 2019-09-30 | $4.82B | $43.0M | +0.90% |
| Q2 2019 | 2019-06-30 | $4.94B | $171.0M | +3.58% |
| Q1 2019 | 2019-03-31 | $4.64B | $316.0M | +7.30% |
| Q4 2018 | 2018-12-31 | $4.88B | $367.0M | +8.12% |
| Q3 2018 | 2018-09-30 | $4.78B | $319.0M | +7.16% |
| Q2 2018 | 2018-06-30 | $4.77B | $254.0M | +5.62% |
| Q1 2018 | 2018-03-31 | $4.33B | $80.0M | +1.88% |
| Q4 2017 | 2017-12-31 | $4.52B | $184.0M | +4.25% |
| Q3 2017 | 2017-09-30 | $4.46B | $14.0M | +0.32% |
| Q2 2017 | 2017-06-30 | $4.52B | $408.0M | +9.93% |
| Q1 2017 | 2017-03-31 | $4.25B | $366.0M | +9.43% |
| Q4 2016 | 2016-12-31 | $4.33B | $382.0M | +9.67% |
| Q3 2016 | 2016-09-30 | $4.44B | $351.0M | +8.58% |
| Q2 2016 | 2016-06-30 | $4.11B | $82.0M | +2.04% |
| Q1 2016 | 2016-03-31 | $3.88B | $248.0M | +6.82% |
| Q4 2015 | 2015-12-31 | $3.95B | −$56.0M | −1.40% |
| Q3 2015 | 2015-09-30 | $4.09B | −$93.0M | −2.22% |
| Q2 2015 | 2015-06-30 | $4.03B | −$210.0M | −4.96% |
| Q1 2015 | 2015-03-31 | $3.63B | −$317.0M | −8.02% |
| Q4 2014 | 2014-12-31 | $4.01B | −$35.0M | −0.87% |
| Q3 2014 | 2014-09-30 | $4.19B | $31.0M | +0.75% |
| Q2 2014 | 2014-06-30 | $4.24B | $26.0M | +0.62% |
| Q1 2014 | 2014-03-31 | $3.95B | −$63.0M | −1.57% |
| Q4 2013 | 2013-12-31 | $4.04B | −$40.0M | −0.98% |
| Q3 2013 | 2013-09-30 | $4.16B | −$103.0M | −2.42% |
| Q2 2013 | 2013-06-30 | $4.21B | $54.0M | +1.30% |
| Q1 2013 | 2013-03-31 | $4.01B | $45.0M | +1.13% |
| Q4 2012 | 2012-12-31 | $4.08B | $121.0M | +3.05% |
| Q3 2012 | 2012-09-30 | $4.26B | $172.0M | +4.21% |
| Q2 2012 | 2012-06-30 | $4.16B | $227.0M | +5.78% |
| Q1 2012 | 2012-03-31 | $3.97B | $980.0M | +32.79% |
| Q4 2011 | 2011-12-31 | $3.96B | $1.06B | +36.68% |
| Q3 2011 | 2011-09-30 | $4.09B | $1.25B | +44.03% |
| Q2 2011 | 2011-06-30 | $3.93B | $1.12B | +40.07% |
| Q1 2011 | 2011-03-31 | $2.99B | $413.0M | +16.03% |
| Q4 2010 | 2010-12-31 | $2.90B | $354.0M | +13.92% |
| Q3 2010 | 2010-09-30 | $2.84B | $193.0M | +7.30% |
| Q2 2010 | 2010-06-30 | $2.81B | $312.0M | +12.52% |
| Q1 2010 | 2010-03-31 | $2.58B | $169.0M | +7.02% |
| Q4 2009 | 2009-12-31 | $2.54B | −$119.0M | −4.47% |
| Q3 2009 | 2009-09-30 | $2.64B | −$161.0M | −5.74% |
| Q2 2009 | 2009-06-30 | $2.49B | −$171.0M | −6.42% |
| Q1 2009 | 2009-03-31 | $2.41B | −$35.0M | −1.43% |
| Q4 2008 | 2008-12-31 | $2.66B | — | — |
| Q3 2008 | 2008-09-30 | $2.81B | — | — |
| Q2 2008 | 2008-06-30 | $2.66B | — | — |
| Q1 2008 | 2008-03-31 | $2.44B | — | — |
Southwest Airlines operating expenses trends
Over the last five fiscal years, Southwest Airlines's operating expenses increased from $12.86B to $27.64B, a change of $14.77B. The latest reported quarter, Q2 2026, shows $8.15B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Southwest Airlines source filings ↗