Southwest Airlines reported net income of $213 million for Q2 2025, or $0.39 per diluted share, and net income excluding special items of $230 million, or $0.43 per diluted share. Total operating revenues for Q2 were $7,244 million, down 1.5% year-over-year.

1. 01

   Southwest Airlines reported net income of $213 million for Q2 2025, or $0.39 per diluted share, and net income excluding special items of $230 million, or $0.43 per diluted share. Total operating revenues for Q2 were $7,244 million, down 1.5% year-over-year.

2. 02

   The company said RASM for Q2 decreased 3.1% year-over-year, capacity increased 1.6%, and CASM-X increased 4.7%. It provided full-year EBIT guidance in the range of $600 million to $800 million.

3. 03

   Southwest returned $1.6 billion to shareholders in Q2 through dividends of $103 million and share repurchases of $1.5 billion. The Board of Directors authorized a new $2.0 billion share repurchase program expected to be completed over a period of up to 2 years.

4. 04

   The company said it repaid $1.6 billion of convertible notes in cash and prepaid $976 million for the first tranche of Payroll Support Program notes in Q2. As of Q2, cash and cash equivalents and short-term investments totaled $3.8 billion, and its revolving credit line of $1.0 billion was fully available.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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