Form 8-K · Current report
Southwest Airlines 8-K, filed Aug 12, 2026
- Filed
- CIK
- 0000092380
- Accession no.
- 0000092380-26-000098
Summary
Southwest Airlines entered into a new $2 billion five-year revolving credit facility on August 10, 2026, with JPMorgan Chase and Citibank as co-administrative agents, and terminated its prior revolving credit facility dated August 3, 2016. The new facility matures in 2031, carries an uncommitted accordion allowing an increase to $3 billion, and requires the company to maintain a 1.25-to-1.00 coverage ratio and a collateral pool of aircraft assets appraised at 1.25 times the total commitment.
Key points
- No amounts were outstanding under the new facility as of the filing date.
- Interest is based on Term SOFR with a 1.00% floor or an alternate base rate, plus margins ranging from 0.875% to 1.625% and 0.000% to 0.625% respectively, tied to the company's Index Debt Rating.
- Southwest may request up to two one-year extensions of the August 10, 2031 maturity with consent of extending lenders.
- The terminated 2016 facility would have expired August 4, 2028.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 1.02Termination of a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01 Entry into a Material Definitive Agreement. The information included pursuant to Item 2.03 is incorporated by reference into this Item 1.01. Item 1.02 Termination of a Material Definitive Agreement. As of August 10, 2026, in connection with the entry by Southwest Airlines Co. (the “Company”) into the new revolving credit agreement described in Item 2.03 hereof, the Company terminated the revolving credit facility dated as of August 3, 2016, as amended, with a syndicate of lenders. The prior credit facility would have expired August 4, 2028. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. …
An excerpt of the text as filed with the SEC, cut for length.
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