---
schema_version: "secwatch.filing_event.v1"
accession: "0000092380-25-000059"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2025-03-11T23:59:59+00:00"
generated_at: "2026-05-25T00:35:52.998611+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Southwest cuts Q1 RASM guidance to +2-4% (prev +5-7%); announces bag fees & Basic fare

## Summary
- Q1 RASM seen +2-4% YoY (prev +5-7%); macro softening, wildfires, less gov't travel cited.
- Q1 CASM-X guided +~6% YoY (prev +7-9%); lower costs shifted later in year.
- Fuel cost per gallon expected $2.35-2.45 (prev $2.50-2.60).
- New bag fees: two free bags for A-List Preferred/Business Select, one for A-List/Cardmembers; others charged first two bags starting May 28.
- Basic fare on lowest-priced tickets; flight credits expire 1 yr (Basic: 6 mo); Expedia distribution began.

## SEC filing metadata
- accession: 0000092380-25-000059
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2025-03-11T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000009238025000059/0000092380-25-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000009238025000059/luv-20250311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092380-25-000059
- JSON: https://secwatch.observer/filing/0000092380-25-000059.json
- Plain text: https://secwatch.observer/filing/0000092380-25-000059.txt

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