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Condensed Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Jun. 30, 2019
Sep. 30, 2019
Operating activities:              
Net income (loss) $ (144,428,000) $ (27,828,000) $ 114,501,000 $ 56,076,000 $ (172,256,000) $ 170,577,000  
Adjustments to reconcile net income (loss) to net cash provided by operations:              
Losses reclassified from other comprehensive income         128,000 148,000  
Share-based compensation         6,442,000 6,413,000  
Allowance for doubtful accounts (recoveries)         (226,000) 0  
Amortization of deferred gains, losses and debt issuance costs         4,633,000 4,365,000  
Depreciation and amortization 69,113,000   54,913,000   135,104,000 105,639,000 $ 105,639,000
Accretion of convertible debt         2,029,000 0  
Deferred income tax expense         31,518,000 44,511,000  
Loss on disposal of assets 0   1,550,000   0 3,463,000  
Changes in operating assets and liabilities:              
Accounts receivable, net         17,360,000 (30,465,000)  
Aircraft maintenance deposits, net         11,254,000 (6,214,000)  
Prepaid income taxes         0 1,962,000  
Long-term deposits and other assets         (16,717,000) 10,212,000  
Deferred heavy maintenance         (57,306,000) (88,350,000)  
Income tax receivable         (125,948,000) 0  
Accounts payable         (6,477,000) 2,024,000  
Air traffic liability         136,615,000 111,009,000  
Deferred salaries, wages and benefits, net         114,052,000 0  
Other liabilities         (127,204,000) 6,154,000  
Other         40,000 (424,000)  
Net cash provided (used) by operating activities         (46,959,000) 341,024,000  
Investing activities:              
Purchase of available-for-sale investment securities         (54,992,000) (57,355,000)  
Proceeds from the maturity and sale of available-for-sale investment securities         54,195,000 56,595,000  
Pre-delivery deposits on flight equipment, net of refunds         (153,353,000) (75,826,000)  
Capitalized interest         (6,289,000) (4,936,000)  
Assets under construction for others         (2,282,000) (2,235,000)  
Purchase of property and equipment         (294,633,000) (154,702,000)  
Net cash used in investing activities         (457,354,000) (238,459,000)  
Financing activities:              
Proceeds from issuance of long-term debt         674,146,000 94,706,000  
Proceeds from issuance of common stock and warrants         203,723,000 0  
Proceeds from stock options exercised         39,000 1,000  
Payments on debt obligations         (149,429,000) (85,785,000)  
Payments on finance lease obligations         (25,020,000) (1,796,000)  
Reimbursement for assets under construction for others         2,322,000 2,235,000  
Repurchase of common stock         (1,554,000) (5,248,000)  
Long-term debt and equity issuance costs         (21,411,000) (614,000)  
Net cash provided by financing activities         682,816,000 3,499,000  
Net increase (decrease) in cash, cash equivalents, and restricted cash         178,503,000 106,064,000  
Cash and cash equivalents at beginning of period   $ 978,957,000   $ 1,004,733,000 978,957,000 1,004,733,000 $ 1,004,733,000
Cash, cash equivalents, and restricted cash at end of period (1) [1] $ 1,157,460,000   $ 1,110,797,000   1,157,460,000 1,110,797,000  
Cash payments for:              
Interest, net of capitalized interest         37,636,000 41,279,000  
Income taxes paid (received), net         (19,631,000) 7,394,000  
Cash paid for amounts included in the measurement of lease liabilities:              
Operating cash flows for operating leases         103,127,000 95,643,000  
Financing cash flows for finance leases         139,000 339,000  
Non-cash transactions:              
Capital expenditures funded by finance lease borrowings         565,000 96,371,000  
Capital expenditures funded by operating lease borrowings         $ 120,961,000 $ 159,548,000  
[1] (1) The sum of cash and cash equivalents and restricted cash on our condensed balance sheets equals cash, cash equivalents, and restricted cash in our statement of cash flows.