Southwest Airlines

LUV Airlines & Travel 2/10 Low Risk
2/10
— 2 → 2 over 22 weeks
Sector avg: 4.1/10

Southwest Airlines carries $4.9B in long-term debt, with $4.9B in scheduled principal maturities. Near-term pressure is acute: $2.5B (50% of all maturities) comes due within 24 months. DebtCanary scores LUV at 2/10, suggesting manageable refinancing risk.

Maturity Schedule

As of 2025-12-31 (latest SEC filing with maturity data). Debt actions taken after this date will only appear once SEC processes the relevant XBRL filing.
Year 1 $321M Year 2 $2.1B Year 3 $766M Year 4 $11M Year 5 $504M Beyond 5 $1.2B
Period Amount Due % of Total
Year 1 (0-12 months) $321M 6.5%
Year 2 (12-24 months) $2.1B 43.6%
Year 3 (24-36 months) $766M 15.5%
Year 4 (36-48 months) $11M 0.2%
Year 5 (48-60 months) $504M 10.2%
Beyond 5 Years $1.2B 23.9%
Total Scheduled Maturities $4.9B 100.0%

Key Metrics

Total Long-Term Debt
$4.9B
Near-Term (12mo)
$321M
Interest Coverage
N/A
Debt/Equity
0.70
Cash Coverage
11.81x
Operating Income
$428M

How This Score Was Computed

Weighted average of 3 scored components (raw 2.47, rounded to 2). Weights of skipped components are redistributed proportionally among those scored.

Component Value Sub-Score Weight Used
Near-Term Maturity Concentration
Show calculation
Year-1 maturities / Total scheduled maturities
Year-1 maturities: $321M
Total scheduled maturities: $4.9B
 6.5% 3/10 40%
Interest Coverage Ratio
Interest expense was not reported in the latest 10-K.
 N/A — not scored
Debt-to-Equity Ratio
Show calculation
Long-term debt / Stockholders' equity
Long-term debt: $4.9B
Stockholders' equity: $7.1B
 0.70 3/10 33%
Cash Coverage of Near-Term Debt
Show calculation
Cash & equivalents / Debt due within 12 months
Cash & equivalents: $3.8B
Near-term debt: $321M
 11.81x 1/10 27%
Cash Runway
Only scored when a company is burning cash. Operating cash flow is positive (or unreported), so runway isn't a constraint.
 N/A — not scored

"Weight Used" shows each component's share after the weights of unscored components are redistributed. Full thresholds and formulas are on the methodology page.

Recent SEC Filings

Material disclosures from Southwest Airlines's most recent EDGAR filings. 8-K item labels indicate the type of event reported.

Date Form Details
2026-07-23 10-Q Quarterly report
2026-07-22 8-K Earnings Results
2026-05-19 8-K Material Agreement, New Debt Obligation
2026-05-11 8-K Shareholder Vote
2026-04-24 DEFA14A Additional proxy materials
2026-04-23 10-Q Quarterly report
2026-04-22 8-K Earnings Results
2026-03-27 DEFA14A Additional proxy materials

Related Companies

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United Airlines Holdings
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American Airlines Group
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Debt: $25.3B 12mo: $3.6B
Alaska Air Group
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Debt: $5.1B 12mo: $773M
Jetblue Airways
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Debt: $8.4B 12mo: $414M
Boeing
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RTX
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4/10
Debt: $41.1B 12mo: $3.4B
General Electric
GE
3/10
Debt: $20.5B 12mo: $1.7B

Data Source: Financial data sourced from SEC EDGAR XBRL filings (10-K annual reports). Fiscal period end: 2026-06-30. Filing date: 2026-07-23. Data last fetched: 2026-07-26. Maturity schedules reflect the company's most recently reported debt repayment obligations. Data quality: Partial.
View SEC EDGAR filings for Southwest Airlines →