Other
Loyalty program and flight credit liability
Southwest Airlines Loyalty program and flight credit liability decreased by 10.6% to $540.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 10.6%, from $604.00M to $540.00M. Over 5 years (FY 2020 to FY 2025), Loyalty program and flight credit liability shows a downward trend with a -3.1% CAGR.
Analysis
StatementBalance Sheet Statement
SectionOther
CategoryMarket Position
SignalContext dependent
VolatilityModerate
First reportedQ4 2014
Last reportedQ4 2025Feb 5, 2026
How to read this metric
An increase suggests growth in loyalty program participation, while a decrease may indicate high redemption rates or changes in program valuation.
Detailed definition
This represents the obligation to provide future travel or services to customers who have earned points or miles through...
Peer comparison
A core metric for the airline and hospitality industries, representing a major component of deferred revenue.
Metric ID:
other_deferred_tax_assets_frequent_flier_liabilityHistorical Data
5 periods
| Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q4 '25 | |
|---|---|---|---|---|---|
| Value | $636.00M | $659.00M | $599.00M | $604.00M | $540.00M |
| QoQ Change | — | +3.6% | -9.1% | +0.8% | -10.6% |
| YoY Change | — | +3.6% | -9.1% | +0.8% | -10.6% |
Range$540.00M – $659.00M
CAGR-15.1%
Avg YoY Growth-3.8%
Median YoY Growth-4.1%
Loyalty program and flight credit liability at Other Companies
Frequently Asked Questions
- What is Southwest Airlines's loyalty program and flight credit liability?
- Southwest Airlines (LUV) reported loyalty program and flight credit liability of $540.00M in Q4 2025.
- How has Southwest Airlines's loyalty program and flight credit liability changed year-over-year?
- Southwest Airlines's loyalty program and flight credit liability decreased by 10.6% year-over-year, from $604.00M to $540.00M.
- What is the long-term trend for Southwest Airlines's loyalty program and flight credit liability?
- Over 5 years (2020 to 2025), Southwest Airlines's loyalty program and flight credit liability has grown at a -3.1% compound annual growth rate (CAGR), from $632.00M to $540.00M.
- What does loyalty program and flight credit liability mean?
- The estimated cost of future travel rewards owed to loyalty program members.