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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating Revenue $ 1,179,971 $ 990,432 $ 2,217,127 $ 1,851,732
Operating Expenses        
Aircraft fuel 385,882 214,269 630,219 377,820
Salaries, wages and benefits 285,906 208,366 583,925 410,980
Maintenance, materials and repairs 108,055 132,547 226,954 253,680
Depreciation and amortization 74,358 66,661 146,560 134,450
Travel 52,719 39,947 95,487 77,619
Navigation fees, landing fees and other rent 39,091 47,409 78,445 92,296
Passenger and ground handling services 34,747 41,504 69,683 81,569
Aircraft rent 12,613 17,687 25,608 38,443
Loss (gain) on disposal of flight equipment 19 0 (6,221) 16
Special charge 0 0 2,633 0
Transaction-related expenses 0 117 0 318
Other 54,435 61,848 110,292 120,260
Total Operating Expenses 1,047,825 830,355 1,963,585 1,587,451
Operating Income 132,146 160,077 253,542 264,281
Non-operating Expenses (Income)        
Interest income (873) (189) (1,113) (400)
Interest expense 19,924 26,992 40,347 54,172
Capitalized interest (3,339) (1,850) (7,103) (3,121)
Loss on early extinguishment of debt 689 0 689 0
Unrealized loss on financial instruments 0 0 0 113
Other (income) expense, net 837 (4,854) 219 (44,310)
Total Non-operating Expenses (Income) 17,238 20,099 33,039 6,454
Income before income taxes 114,908 139,978 220,503 257,827
Income tax expense 26,650 32,868 50,734 60,784
Net Income $ 88,258 $ 107,110 $ 169,769 $ 197,043
Earnings per share:        
Basic $ 3.12 $ 3.69 $ 5.95 $ 6.85
Diluted $ 2.65 $ 3.53 $ 5.03 $ 6.59
Weighted average shares:        
Basic 28,243 29,011 28,547 28,752
Diluted 33,679 30,319 34,184 29,900