Leases (Tables)

9 Months Ended

Sep. 30, 2022

Leases [Abstract]

Schedule of Finance Lease Maturities

The following table provides details of the Company's future minimum lease payments under finance lease liabilities and operating lease liabilities recorded on the Company's condensed consolidated balance sheets as of September 30, 2022. The table does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

	Finance Leases		Operating Leases
			Aircraft and Spare Engine Leases		Property Facility Leases		Other		Total Operating and Finance Lease Obligations
	(in thousands)
Remainder of 2022	$	210	$	74,815	$	1,598	$	39	$	76,662
2023	465		296,016		6,385		13		302,879
2024	215		283,930		4,526		—		288,671
2025	117		269,042		3,072		—		272,231
2026	39		242,728		2,989		—		245,756
2027 and thereafter	—		2,134,609		143,389		—		2,277,998
Total minimum lease payments	$	1,046	$	3,301,140	$	161,959	$	52	$	3,464,197
Less amount representing interest	43		1,049,330		133,723		—		1,183,096
Present value of minimum lease payments	$	1,003	$	2,251,810	$	28,236	$	52	$	2,281,101
Less current portion	569		170,740		4,822		52		176,183
Long-term portion	$	434	$	2,081,070	$	23,414	$	—	$	2,104,918

Schedule of Operating Lease Maturities

The following table provides details of the Company's future minimum lease payments under finance lease liabilities and operating lease liabilities recorded on the Company's condensed consolidated balance sheets as of September 30, 2022. The table does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

	Finance Leases		Operating Leases
			Aircraft and Spare Engine Leases		Property Facility Leases		Other		Total Operating and Finance Lease Obligations
	(in thousands)
Remainder of 2022	$	210	$	74,815	$	1,598	$	39	$	76,662
2023	465		296,016		6,385		13		302,879
2024	215		283,930		4,526		—		288,671
2025	117		269,042		3,072		—		272,231
2026	39		242,728		2,989		—		245,756
2027 and thereafter	—		2,134,609		143,389		—		2,277,998
Total minimum lease payments	$	1,046	$	3,301,140	$	161,959	$	52	$	3,464,197
Less amount representing interest	43		1,049,330		133,723		—		1,183,096
Present value of minimum lease payments	$	1,003	$	2,251,810	$	28,236	$	52	$	2,281,101
Less current portion	569		170,740		4,822		52		176,183
Long-term portion	$	434	$	2,081,070	$	23,414	$	—	$	2,104,918

Schedule of Lease Cost

The table below presents information for lease costs related to the Company's finance and operating leases:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands)
Finance lease cost
Amortization of leased assets	$	188	$	194	$	563	$	539
Interest of lease liabilities	13		23		47		72
Operating lease cost
Operating lease cost (1)	66,241		56,991		194,922		161,764
Short-term lease cost (1)	10,451		7,638		30,259		21,729
Variable lease cost (1)	54,711		45,387		153,433		134,047
Total lease cost	$	131,604	$	110,233	$	379,224	$	318,151

(1) Expenses are classified within aircraft rent and landing fees and other rents on the Company's condensed consolidated statements of operations.

The table below presents lease terms and discount rates related to the Company's finance and operating leases:

	September 30, 2022		September 30, 2021
Weighted-average remaining lease term
Operating leases	14.5 years		13.9 years
Finance leases	2.1 years		2.7 years
Weighted-average discount rate
Operating leases	5.94	%	5.81	%
Finance leases	4.45	%	4.86	%