Total Revenue

-3% ( " " " )

Total Revenue fell from $2,428 million in Q2 2024 to $2,356 million in Q2 2025, reflecting a continuation of pressure from lower passenger revenue linked to strategic capacity reductions and softer off-peak demand, similar to trends seen in previous periods ( " " ).

Passenger Revenue

-3.8% ( " " )

Passenger Revenue declined from $2,265 million in Q2 2024 to $2,179 million in Q2 2025, primarily driven by a deliberate reduction in capacity and subdued demand during off-peak seasons—a tactic previously observed in Q1 2025 that resulted in lower load even with slight yield improvements ( " " ).

Other Revenue

+8.6% ( " " )

Other Revenue increased from $163 million in Q2 2024 to $177 million in Q2 2025, driven by rising loyalty revenue from non-transport elements such as TrueBlue® point sales, vacation packages, and additional ancillary services, continuing a positive trend noted in earlier periods ( " " ).