CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash Flows from Operating Activities:
Net Income	$ 79	$ 324
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	596	393
Stock-based compensation and other	(9)	55
Non-cash special items	52	4
Changes in certain assets and liabilities:
Changes in deferred income taxes	37	127
Increase in accounts receivable	(26)	(85)
Increase in air traffic liability	226	229
Increase in deferred revenue	177	52
Other - net	(68)	91
Net cash provided by operating activities	1,064	1,190
Property and equipment additions
Aircraft and aircraft purchase deposits	(600)	(532)
Other flight equipment	(144)	(118)
Other property and equipment	(219)	(202)
Acquisition of Hawaiian, net of cash acquired	0	(659)
Supplier proceeds	0	162
Purchases of marketable securities	(1,239)	(428)
Sales and maturities of marketable securities	1,047	1,153
Other investing activities	159	188
Net cash used in investing activities	(996)	(436)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt, net of issuance costs	378	344
Long-term debt payments	(389)	(279)
Common stock repurchases	(540)	(63)
Other financing activities	61	5
Net cash provided by (used in) financing activities	(490)	7
Net (decrease) increase in cash and cash equivalents	(422)	761
Cash, cash equivalents, and restricted cash at beginning of period	1,257	308
Cash, cash equivalents, and restricted cash at end of the period	835	1,069
Cash paid during the period for:
Interest, net of amount capitalized	177	107
Income taxes, net of refunds received	0	2
Non-cash transactions:
Right-of-use assets acquired through operating leases	167	35
Property and equipment acquired through the issuance of debt	69	68
Reconciliation of cash, cash equivalents, and restricted cash:
Cash and cash equivalents	778	1,015
Restricted cash	28	27
Restricted cash included in Other noncurrent assets	29	27
Total cash, cash equivalents, and restricted cash at end of the period	$ 835	$ 1,069