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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating Revenue        
Total Operating Revenue $ 4,308 $ 3,766 $ 11,673 $ 10,607
Operating Expenses        
Wages and benefits 1,287 1,226 3,768 3,518
Variable incentive pay 68 71 163 194
Aircraft fuel 1,214 761 3,315 2,142
Aircraft maintenance 257 238 729 698
Aircraft rent 66 64 191 190
Landing fees and other rentals 333 305 929 825
Contracted services 163 151 472 442
Selling expenses 118 107 332 312
Depreciation and amortization 216 203 627 596
Food and beverage service 110 100 312 282
Third-party regional carrier expense 71 72 195 205
Other 298 256 903 764
Special items - operating 25 64 102 211
Total Operating Expenses 4,226 3,618 12,038 10,379
Operating Income (Loss) 82 148 (365) 228
Non-operating Income (Expense)        
Interest income 22 23 62 71
Interest expense (97) (70) (259) (202)
Interest capitalized 14 8 37 29
Other - net (3) 2 12 (10)
Total Non-operating Expense (64) (37) (148) (112)
Income (Loss) Before Income Tax 18 111 (513) 116
Income tax expense (benefit) 165 38 (97) 37
Net Income (Loss) $ (147) $ 73 $ (416) $ 79
Basic Earnings (Loss) Per Share (in dollars per share) $ (1.32) $ 0.63 $ (3.70) $ 0.66
Diluted Earnings (Loss) Per Share (in dollars per share) $ (1.32) $ 0.62 $ (3.70) $ 0.65
Weighted Average Shares Outstanding used for computation:        
Basic 111,611,000 115,287,000 112,334,000 119,061,000.000
Diluted 111,611,000 117,500,000 112,334,000 121,193,000
Passenger revenue        
Operating Revenue        
Total Operating Revenue $ 3,885 $ 3,424 $ 10,449 $ 9,587
Passenger revenue | Passenger        
Operating Revenue        
Total Operating Revenue 3,885 3,424 10,449 9,587
Loyalty Plan Revenue        
Operating Revenue        
Total Operating Revenue 650 558 1,870 1,652
Loyalty Plan Revenue | Passenger        
Operating Revenue        
Total Operating Revenue 387 358 1,122 1,035
Loyalty Plan Revenue | Loyalty program other        
Operating Revenue        
Total Operating Revenue 263 200 748 617
Cargo and other revenue        
Operating Revenue        
Total Operating Revenue 160 142 476 403
Cargo and other revenue | Cargo and Freight        
Operating Revenue        
Total Operating Revenue $ 160 $ 142 $ 476 $ 403