Southwest Airlines has published its extensive full-year 2025 report, detailing that in 2026, it expects Boeing to deliver 66 737 MAX 8 aircraft, and no 737 MAX 7s, which the planemaker plans to certify this year.
Lacking 101 737 MAX 7s
According to the latest annual report that Southwest Airlines filed with the United States Securities and Exchange Commission (SEC) on February 5, Boeing is contractually obliged to deliver 101 737 MAX 7 and 66 737 MAX 8 aircraft to the airline in 2026.
However, the carrier outlined that it only expects delivery of the 66 737 MAX 8s during the year, even if the planemaker continues working with the Federal Aviation Administration (FAA) to certify the 737 MAX 7.
Southwest Airlines will be the launch customer of the smallest 737 MAX jet.
The airline noted that it included the “remaining 81 of its 2024 and 2025 contractual but undelivered aircraft,” 27 737 MAX 7 and 54 737 MAX 8s, in its 2026 contractual commitments.
Furthermore, in Q2 and Q4 2025, it finalized “supplemental agreements” with Boeing, which provide “flexibility in support of the Company's growth plans and fleet modernization and include certain confidential credits and other concessions provided to the Company by Boeing.”
“The delivery timing for the [737 MAX 7] is dependent on the FAA issuing required certifications and approvals to Boeing and the Company. The FAA will ultimately determine the timing of the [737 MAX 7] certification and entry into service, and the Company therefore offers no assurances that current estimations and timelines are correct.”
During the planemaker’s Q4 2025 earnings call, Kelly Ortberg, the President and Chief Executive Officer (CEO) of Boeing, affirmed the company’s assumptions that the 737 MAX 7, as well as the 737 MAX 10, will be certified sometime in 2026.
Ortberg clarified that Boeing expects to deliver the first 737 MAX 10 in 2027, following certification in 2026, potentially indicating that the 737 MAX 7 could follow the same timeline.
Rytis Beresnevicius
Slight fleet growth
Southwest Airlines plans to slightly grow its fleet in 2026, retiring 60 aircraft and taking delivery of 66 737 MAX 8s. It ended 2025 with 803 aircraft in its fleet, which was the same number of aircraft as it had at the end of 2024.
“The Company's aircraft delivery and retirement expectations for 2026 and beyond are fluid and subject to Boeing's production capability.”
Despite no increase in fleet size compared to 2024, the airline’s available seat miles (ASMs), measuring capacity, improved by 1.6% year-on-year (YoY), which, in part, was due to the carrier beginning red-eye flying to improve aircraft utilization as well as the induction of larger-gauge 737 MAX 8s.
In 2026, its planned Capital Expenditures (CapEx) are between $3 billion and $3.5 billion, compared to $2.6 billion in 2025, and $2 billion in 2024. During those years, it took delivery of 55 and 22 737 MAX 8 aircraft.
As of December 31, 2025, Southwest Airlines had firm orders for 269 737 MAX 7, 196 for 737 MAX 8, and 152 options for either of the aircraft, which the airline has the flexibility to designate as the 737 MAX 7 or 737 MAX 8 “upon written advance notification as stated in the contract.”
One of the main effects of the continuous 737 MAX 7 delays is the fact that it has had to keep flying its less fuel-efficient 737-700s for longer than expected. Nevertheless, according to the annual report, its ASMs per fuel gallon consumed have steadily increased since 2022 as more fuel-efficient MAX aircraft have come online, increasing from 77.3 in 2022 to 83 in 2025.
When Boeing rolled out the first 737 MAX 7 on February 5, 2018, it said that it would deliver the first aircraft to Southwest Airlines in 2019. The carrier’s annual report outlined that in 2019, it was supposed to welcome seven 737 MAX 7s, a further 12 in 2023, and 11 more in 2024.
“Technology improvements allow the MAX 7 to fly 1,000 nautical miles farther and carry more passengers than its predecessor, the 737-700, while having 18 percent lower fuel costs per seat.”
Rytis Beresnevicius
