$2 Billion Credit Lifeline for Southwest Airlines
Southwest Airlines has secured a $2 billion revolving credit agreement with JPMorgan Chase Bank and Citibank as co-administrative agents. The deal, which matures in August 2031, includes an uncommitted accordion feature that allows the airline to increase the facility size to $3 billion.
The funds will be used for working capital and general corporate purposes, including acquisitions, according to the company.