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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Revenue    
Total Operating Revenue $ 3,137 $ 2,232
Operating Expenses    
Wages and benefits 1,127 804
Variable incentive pay 62 44
Aircraft fuel, including hedging gains and losses 681 565
Aircraft maintenance 220 122
Aircraft rent 62 47
Landing fees and other rentals 242 165
Contracted services 145 97
Selling expenses 100 77
Depreciation and amortization 194 126
Food and beverage service 85 58
Third-party regional carrier expense 64 54
Other 261 205
Special items - operating 91 34
Total Operating Expenses 3,334 2,398
Operating Income (197) (166)
Non-operating Income (Expense)    
Interest income 26 17
Interest expense (66) (35)
Interest capitalized 12 6
Other - net (8) 0
Total Non-operating Expense (36) (12)
Loss Before Income Tax (233) (178)
Income tax benefit (67) (46)
Net Loss $ (166) $ (132)
Basic earnings per share $ (1.35) $ (1.05)
Diluted loss per share (in dollars per share) $ (1.35) $ (1.05)
Weighted Average Shares Outstanding used for computation:    
Basic 123,134,000 125,970,000
Diluted 123,134,000 125,970,000
Passenger revenue    
Operating Revenue    
Total Operating Revenue $ 2,808 $ 2,004
Passenger revenue | Passenger    
Operating Revenue    
Total Operating Revenue 2,808 2,004
Mileage Plan Revenue    
Operating Revenue    
Total Operating Revenue 523 412
Mileage Plan Revenue | Passenger    
Operating Revenue    
Total Operating Revenue 316 248
Mileage Plan Revenue | Mileage plan other revenue    
Operating Revenue    
Total Operating Revenue 207 164
Cargo and other revenue    
Operating Revenue    
Total Operating Revenue 122 64
Cargo and other revenue | Cargo and Freight    
Operating Revenue    
Total Operating Revenue $ 122 $ 64