---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-102966"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T14:38:32.988587+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Southwest Airlines enters $500M term loan facility secured by aircraft

## Summary
- $500M senior secured term loan drawn in full on March 11, 2026.
- Matures March 11, 2029; prepayable without penalty on 3 business days' notice.
- Interest at Term SOFR + 1.10% or ABR + 0.10%, with floors of 0.00% and 1.00% respectively.
- Secured by aircraft and related assets; includes an uncommitted incremental term loan feature up to $500M.
- Existing revolving credit facility unaffected.

## SEC filing metadata
- accession: 0001193125-26-102966
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2026-03-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000119312526102966/0001193125-26-102966-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000119312526102966/d108115d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-102966
- JSON: https://secwatch.observer/filing/0001193125-26-102966.json
- Plain text: https://secwatch.observer/filing/0001193125-26-102966.txt

## Source-grounded claims
- claim_id: 1be0eda73ad3ed223b9449042bdad7c5b7f7aa3c
  claim: SOUTHWEST AIRLINES CO incurred term loan of $500 million with BNP Paribas at Term SOFR plus 1.10% per annum or Alternate Base Rate plus 0.10% per annum; Term maturing March 11, 2029.
  evidence_excerpt: On March 11, 2026, Southwest Airlines Co. (the “Company”) entered into a new term loan credit agreement (the “Term Loan Credit Agreement”) with BNP Paribas, as administrative and collateral agent (the “Agent”) and as the initial lender (together with any additional lenders from time to time, the “Lenders”), providing for a $500 million dollar senior secured term loan credit facility (the “Term Loan Facility”) that was drawn in full on the closing date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/92380/000119312526102966/0001193125-26-102966-index.htm

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