---
schema_version: "secwatch.filing_event.v1"
accession: "0000092380-24-000026"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2024-02-06T23:59:59+00:00"
generated_at: "2026-06-06T08:52:17.672715+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Southwest Airlines updates Q4 2023 with additional $51M pilot bonus expense; lowers 2024 CASM-X guidance

## Summary
- Additional $51M expense accrued in Q4 2023 for pilot ratification bonus and payroll taxes.
- Q1 2024 CASM-X guidance lowered to 5-6% YoY (prev. 6-7%).
- Full-year 2024 CASM-X guidance narrowed to 5.5-7% (prev. 6-7%).
- Other guidance (RASM, ASMs, fuel costs, capex) unchanged from Jan 25 release.
- Pilot bonus accrual refined after Jan 22, 2024 CBA ratification; incremental expense reflects final estimate.

## SEC filing metadata
- accession: 0000092380-24-000026
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2024-02-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000009238024000026/0000092380-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000009238024000026/luv-20240206.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092380-24-000026
- JSON: https://secwatch.observer/filing/0000092380-24-000026.json
- Plain text: https://secwatch.observer/filing/0000092380-24-000026.txt

## Key facts
- Earnings Releases
  SOUTHWEST AIRLINES CO updated its fourth quarter and full year 2023 guidance (reaffirmed).
  - Period: fourth quarter and full year 2023
  - Guidance: reaffirmed
  - Result: reported results
  source text: On January 25, 2024, Southwest Airlines Co. (the “Company”) issued a press release announcing its financial results for the fourth quarter and full year 2023 (the “2023 Earnings Release”), referencing a change in estimate related to the the ratification bonus for its Pilots which was recorded in fourth quarter 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/92380/000009238024000026/0000092380-24-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.