Southwest Airlines seats flown in Q2

Southwest Airlines reported specific 'seats flown' for recent future quarters. For the second quarter of 2025, Southwest Airlines recorded 59,265,000 seats flown ^[1]. The figure for the first quarter of 2026 was reported as 53,030,000 seats flown ^[2].

This data is consistently found in company financial filings. Southwest Airlines typically presents this information in the 'Operating Statistics' table of their Form 8-K earnings releases ^[3][1][2]. The company defines 'seats flown' as the total number of seats available by aircraft type multiplied by the total trips flown by the same aircraft type during a specific period ^[3][1][2].

Southwest projects modest capacity growth for Q2 and the full year 2026. The airline anticipates its second quarter 2026 capacity to be flat to up 1.0% year-over-year ^[1][2][3]. For the entirety of 2026, Southwest expects capacity to grow by approximately 2%, which is at the lower end of its previously communicated range of 2% to 3% ^[1][3].

Delta's Q2 capacity growth aligns with its managed expansion strategy. Delta Air Lines reported an approximate 1% increase in capacity for the second quarter of 2026, a figure that is consistent with its controlled approach to capacity growth ^[4][5].

United Airlines revised its capacity plans due to rising fuel costs. Following its Q1 2026 earnings, United announced a strategic reduction of 5 points in its planned capacity for the remainder of the year to mitigate the impact of increasing fuel expenses ^[6][7][8]. Consequently, United now projects its capacity growth for the second half of 2026 to be flat to up 2% ^[6][7][8]. Specific Q2 2026 capacity guidance for United Airlines is not available in the provided information.

Southwest prioritized operational discipline and network optimization in Q2 2026. During this quarter, Southwest Airlines pursued a strategy focused on operational discipline, network optimization, and high-return revenue levers, opting against aggressive capacity expansion ^{[8][9][10][5][11][12][13][14][15][16][17]}. This included strategic adjustments such as suspending operations at Chicago O'Hare and Washington Dulles in June, and reallocating capacity to markets demonstrating stronger performance ^{[8][9][10][5][11]}. This approach reflected stable-to-disciplined capacity management and efficiency-focused operations, influenced by elevated fuel volatility and ongoing business transformation risks that encouraged the airline to optimize existing operations rather than significantly increasing seats flown ^{[12][13][14][15][16][17]}.

Fluctuating fuel prices and steady demand shaped Southwest's outlook. Jet fuel prices experienced an initial surge due to geopolitical tensions but subsequently trended downward by approximately 40% from their April peak by the end of June ^[1][2][3][4]. This decline resulted in Southwest reporting a lower realized economic fuel cost per gallon than initially assumed for Q2 2026 ^[1][2][3][4]. Consumer travel demand remained generally steady, characterized by "broad-based demand strength across the network," even with higher fares ^[5][1]. However, there was also evidence of moderating discretionary spending and some consumers opting for road travel over air travel during the Q2 2026 summer period ^{[1][2][4][18]}. In response to these market conditions, Southwest guided for flat to 1% year-over-year capacity growth for Q2 2026 ^[5][6][7] and projected an increase in Revenue per Available Seat Mile (RASM) of 16.5% to 18.5% ^[5][6][7]. The overall macro environment supported pricing discipline and efficiency, with strong travel demand bolstering load factors and fares, and fuel relief aiding margins ^{[12][13][14][15][16][17]}.

Southwest Airlines' scheduled seat capacity for the second quarter of 2026 shows minimal change. For Q2 2026, covering April through June, Southwest Airlines has 59.42 million available seats scheduled. According to Cirium schedule data, this capacity is nearly unchanged when compared to Q2 2025 ^[1].

The airline's guidance projects slight capacity growth for the quarter, with official data pending. Southwest Airlines anticipates year-over-year growth in Available Seat Miles (ASMs) for Q2 2026 to be flat to up 1%. This projection aligns with a strategic focus on disciplined growth and network optimization, aimed at enhancing unit revenue ^[2]. Official financial and operational results for Q2 2026, including confirmed seat capacity data, are expected to be announced during the company's earnings call on July 23, 2026 ^[3].

Southwest’s Q2 2026 capacity growth is significantly constrained by Boeing delays. The airline projects total seats flown, measured by Available Seat Miles (ASM), to experience approximately 0.5% growth at the midpoint for Q2 2026 ^[1][2][3][4]. This limited growth stems primarily from substantial Boeing delivery constraints, with Southwest expecting only 66 Boeing 737-8 aircraft deliveries in 2026. This represents a significant shortfall compared to original contractual expectations for the 737 MAX 7 model ^[5][6]. These delivery issues have led Southwest to revise its overall year-over-year capacity guidance for 2026 to approximately 2%, positioning it at the low end of its previously anticipated 2%-3% range ^[1][2][3][4].

Fleet modifications further reduce capacity and increase costs for Southwest. The airline has undertaken a program to modify its Boeing 737-700 aircraft fleet, which involves removing six seats from each plane ^[1][2][7][8]. This reconfiguration aims to introduce additional legroom for passengers. This change directly contributes to a 1.2 point increase in the second quarter 2026 CASM-X, which represents the cost per available seat mile, excluding fuel ^[1][2][7][8].

Southwest Airlines is scheduled to hold its second-quarter 2026 financial results conference call on Thursday, July 23, 2026, at 10:00 AM Eastern Time ^[1][2]. For Q2 2026, the company provided capacity (ASMs) guidance to be flat to up 1.0% year-over-year, subsequently adjusting second-quarter capacity growth to approximately 0.5% due to network adjustments ^[3][4][5]. Adjusted EPS guidance for Q2 2026 is $0.35 to $0.65 ^[3][6].

Key factors influencing the Q2 outlook include fuel price volatility, the success of new revenue and pricing initiatives, and the outcomes of labor negotiations ^[3][6]. Macroeconomic conditions are also a determinant ^[3][6]. Bullish catalysts include potential momentum from product initiatives and capacity discipline ^[7][6]. Bearish factors encompass an expensive stock valuation (P/E ~32-52x), elevated operating costs due to fuel, and uncertainty surrounding ongoing labor union negotiations ^[7][6].