| Schedule of Disaggregation of Passenger Revenue |
The following tables provide the components of Passenger revenue and Other revenue recognized for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | | Six months ended June 30, | | (in millions) | 2026 | | 2025 | | | 2026 | | 2025 | | Passenger non-loyalty | $ | 6,104 | | (a) | $ | 5,448 | | | | $ | 11,292 | | (a) | $ | 10,214 | | | Passenger loyalty - air transportation | 766 | | | 870 | | | | 1,454 | | | 1,670 | | | Passenger ancillary sold separately (b) | 875 | | | 309 | | | | 1,591 | | | 554 | | | Total passenger revenues | $ | 7,745 | | | $ | 6,627 | | | | $ | 14,337 | | | $ | 12,438 | |
(a) Includes a reversal of previously recognized breakage revenue of approximately $285 million, related to the periods July 2022 through December 2025. See Note 1 for further information. (b) The increase in Passenger ancillary sold separately in the three and six months ended June 30, 2026 as compared with the respective prior periods was due to the Company's initiative to implement new ancillary products—bag fees for most fare products beginning May 28, 2025, and operating assigned and extra legroom seating for travel beginning January 27, 2026, which includes the co-brand impact associated with those initiatives.
| | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | (in millions) | 2026 | | 2025 | | 2026 | | 2025 | | Loyalty program | $ | 578 | | | $ | 536 | | | $ | 1,135 | | | $ | 1,081 | | | Other | 59 | | | 37 | | | 117 | | | 67 | | | Total other revenues | $ | 637 | | | $ | 573 | | | $ | 1,252 | | | $ | 1,148 | |
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| Schedule of Rollforward of Air Traffic Liability |
As of June 30, 2026, and December 31, 2025, the components of Air traffic liability, including contract liabilities based on tickets sold and unused flight credits available to the Customer, both of which are net of recorded breakage, and loyalty points available for redemption, within the unaudited Condensed Consolidated Balance Sheet were as follows: | | | | | | | | | | | | | | Balance as of | | (in millions) | June 30, 2026 | | December 31, 2025 | | Air traffic liability - passenger travel and ancillary passenger services | $ | 4,010 | | | $ | 2,830 | | | Air traffic liability - loyalty program | 4,174 | | | 4,334 | | | Total Air traffic liability | $ | 8,184 | | | $ | 7,164 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | | (in millions) | 2026 | | 2025 | | 2026 | | 2025 | | | | | | Air traffic liability - loyalty program - beginning balance | $ | 4,278 | | | $ | 4,841 | | | $ | 4,334 | | | $ | 4,849 | | | | | | | Amounts deferred associated with points awarded | 695 | | | 748 | | | 1,357 | | | 1,565 | | | | | | | Revenue recognized from points redeemed - Passenger | (766) | | | (870) | | | (1,454) | | | (1,670) | | | | | | | Revenue recognized from points redeemed - Other | (33) | | | (26) | | | (63) | | | (51) | | | | | | | | | | | | | | | | | | | Air traffic liability - loyalty program - ending balance | $ | 4,174 | | | $ | 4,693 | | | $ | 4,174 | | | $ | 4,693 | | | | | |
| | | | | | | | | | | | | Six months ended June 30, | | (in millions) | 2026 | | 2025 | | | | | | Air traffic liability - beginning balance | $ | 7,164 | | | $ | 8,242 | | | Current period sales (a) | 14,891 | | | 12,489 | | | Revenue from amounts included in contract liability opening balances | (3,515) | | | (3,855) | | | Revenue from current period sales | (10,356) | | | (8,580) | | | Air traffic liability - ending balance | $ | 8,184 | | | $ | 8,296 | |
(a)Current period sales include passenger travel, ancillary services, flight loyalty, and partner loyalty
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