Note 10. Interest, Net

The following table shows the components of interest, net:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2010			2011			2010			2011
Interest on borrowings, net settlements on interest rate derivatives, and other liabilities⁽¹⁾	$	35,348		$	46,413		$	70,946		$	87,691
Hedge ineffectiveness (gains) losses		902			(123	)		1,769			(598	)
Amortization of interest rate derivatives related to deferred losses ⁽²⁾		1,770			5,391			4,074			8,226
Amortization of deferred financing fees⁽³⁾		2,956			5,889			5,760			9,417

Interest Expense		40,976			57,570			82,549			104,736
Less interest income		(30	)		(99	)		(40	)		(260	)
Less capitalized interest		(780	)		(1,578	)		(1,384	)		(2,964	)

Interest, net	$	40,166		$	55,893		$	81,125		$	101,512


(1)		For the three and six months ended June 30, 2011, includes the loan termination fee of $3,196 related to an aircraft sold in June 2011.

(2)		For the three and six months ended June 30, 2011, includes accelerated amortization of deferred hedge losses in the amount of $1,839 related to an aircraft sold in June 2011.

(3)		For the three and six months ended June 30, 2011, includes the write-off of deferred financing fees of $2,456 related to an aircraft sold in June 2011.