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Debt, Related-Party Transactions and Other Obligations
12 Months Ended
Dec. 31, 2012
Debt and Related Party Transactions Disclosure [Abstract]  
Debt, Related-Party Transactions and Other Obligations
Debt, Related-Party Transactions and Other Obligations
In connection with the closing of the IPO, the Company consummated the transaction contemplated by the Recapitalization Agreement on June 1, 2011, which resulted in the repayment or exchange for common stock of all of the Company’s notes and preferred stock. See Note 18. As of December 31, 2012 and 2011, there was no outstanding long term debt, long term obligations or outstanding amounts due to related parties.
The Company has a line of credit for $18.6 million and $8.6 million related to corporate credit cards, of which the Company had drawn $3.2 million and $2.4 million as of December 31, 2012 and 2011, respectively.
In addition, the Company has lines of credit with counterparties to the Company's jet fuel derivatives in the amount of $18.0 million as of December 31, 2012. Of the $18.0 million in lines of credit, $5.0 million is provided exclusively for jet fuel derivatives, $10.0 million is provided exclusively for physical fuel delivery, and the remaining $3.0 million is provided for either purpose. As of December 31, 2012, the Company had drawn $11.2 million for physical fuel delivery and had not drawn on the remaining lines. As of December 31, 2011, the Company had lines of credit with counterparties in the amount of $8 million exclusively for jet fuel derivatives. As of December 31, 2011, the Company had not drawn on the lines of credit. The Company is required to post collateral for any excess above the lines of credit if the derivatives are in a net liability position and make periodic payments in order to maintain an adequate undrawn portion for physical fuel delivery.
The Company’s principal stockholders provided certain consulting services to the Company for a management fee of $0.8 million in 2010. For the year ended December 31, 2011, the Company expensed $0.3 million related to these consulting services. There were no management fees paid in 2012.