REVENUE (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Passenger revenue recognized in the condensed consolidated statements of operations:

	Three Months Ended March 31,
(in millions)	2026		2025
Passenger ticket revenue, net of taxes and fees	$	2,426	$	2,352
Passenger ancillary revenue	147		140
Loyalty program passenger revenue	347		316
Total Passenger revenue	$	2,920	$	2,808

The table below presents the Company's passenger revenue by principal geographic region (as defined by the U.S. Department of Transportation):

	Three Months Ended March 31,
(in millions)	2026		2025
Domestic	$	2,599	$	2,462
Latin America	187		214
Pacific	134		132
Total Passenger revenue	$	2,920	$	2,808

Loyalty program revenue included in the condensed consolidated statements of operations:

	Three Months Ended March 31,
(in millions)	2026		2025
Loyalty program passenger revenue	$	347	$	316
Loyalty program other revenue	227		207
Total Loyalty program revenue	$	574	$	523

Cargo and other revenue included in the condensed consolidated statements of operations:

	Three Months Ended March 31,
(in millions)	2026		2025
Cargo revenue	$	59	$	57
Other revenue	94		65
Total Cargo and other revenue	$	153	$	122

Contract with Customer, Asset and Liability

The table below presents a roll forward of the total loyalty program liability:

	Three Months Ended March 31,
(in millions)	2026		2025
Total Deferred Revenue balance at January 1	$	3,433	$	3,256
Loyalty points and companion certificate redemption - Passenger revenue	(311)		(307)
Loyalty points redeemed on partner airlines - Loyalty program other revenue	(51)		(49)
Increase in liability for loyalty points issued	410		414
Total Deferred Revenue balance at March 31	$	3,481	$	3,314