XML 38 R28.htm IDEA: XBRL DOCUMENT v3.22.2.2
Debt and Other Obligations (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt is comprised of the following:

As ofAs of
September 30, 2022December 31, 2021September 30, 2022December 31, 2021
(in millions)(weighted-average interest rates)
8.00% senior secured notes due 2025
$510.0 $510.0 8.00 %8.00 %
Fixed-rate loans due through 2039 (1)
1,127.3 1,223.5 3.52 %3.52 %
Unsecured term loans due in 2031136.3 136.3 1.00 %1.00 %
Fixed-rate class A 2015-1 EETC due through 2028289.6 300.6 4.10 %4.10 %
Fixed-rate class B 2015-1 EETC due through 202452.0 56.0 4.45 %4.45 %
Fixed-rate class C 2015-1 EETC due through 202369.5 75.2 4.93 %4.93 %
Fixed-rate class AA 2017-1 EETC due through 2030
186.3 200.3 3.38 %3.38 %
Fixed-rate class A 2017-1 EETC due through 2030
62.1 66.8 3.65 %3.65 %
Fixed-rate class B 2017-1 EETC due through 2026
51.7 55.8 3.80 %3.80 %
Fixed-rate class C 2017-1 EETC due through 2023
85.5 85.5 5.11 %5.11 %
Convertible notes due 202525.4 28.2 4.75 %4.75 %
Convertible notes due 2026500.0 500.0 1.00 %1.00 %
Long-term debt$3,095.7 $3,238.2 
Less current maturities353.4 208.2 
Less unamortized discounts, net
84.7 54.9 
Total$2,657.6 $2,975.1 
(1) Includes obligations related to one aircraft recorded as a failed sale leaseback. Refer to Note 9, Leases for additional information.
Schedule of Maturities of Long-term Debt
At September 30, 2022, long-term debt principal payments for the next five years and thereafter were as follows:

September 30, 2022
(in millions)
remainder of 2022$53.4 
2023336.6 
2024222.1 
2025723.8 
2026731.1 
2027 and beyond1,028.7 
Total debt principal payments$3,095.7 
Schedule of Interest Expense, Long-term Debt Interest expense related to long-term debt and finance leases consists of the following:
 Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(in thousands)
8.00% senior secured notes (1)
$10,461 $10,461 31,382 $41,436 
Fixed-rate term loans10,273 10,522 31,442 32,171 
Unsecured term loans344 344 1,020 824 
Class A 2015-1 EETC2,985 3,212 8,986 9,665 
Class B 2015-1 EETC581 671 1,772 2,039 
Class C 2015-1 EETC856 997 2,629 3,051 
Class AA 2017-1 EETC1,615 1,734 4,893 5,248 
Class A 2017-1 EETC582 625 1,764 1,892 
Class B 2017-1 EETC503 546 1,525 1,659 
Class C 2017-1 EETC1,104 1,104 3,275 3,275 
Convertible notes (2)
(9,641)1,585 (9,442)5,412 
Revolving credit facilities— — — 1,733 
Finance leases13 23 47 72 
Commitment and other fees830 612 1,785 1,644 
Amortization of deferred financing costs3,202 3,273 10,634 10,056 
Total$23,708 $35,709 $91,712 $120,177 
(1) Includes $0.3 million and $0.8 million of accretion and $10.2 million and $30.6 million of interest expense for the three and nine months ended September 30, 2022, respectively. Includes $0.3 million and $1.0 million of accretion and $10.2 million and $40.4 million of interest expense for the three and nine months ended September 30, 2021, respectively.
(2) Includes $3.8 million and $10.2 million of amortization of the discount for the convertible notes due 2026, $1.6 million and $4.7 million of interest expense for the convertible notes due 2025 and 2026 offset by $15.0 million and $24.3 million of favorable mark to market adjustments for the convertible notes due 2026 for the three and nine months ended September 30, 2022, respectively. Includes $1.6 million and $5.4 million of interest expense for the convertible notes due 2025 and 2026 for the three and nine months ended September 30, 2021, respectively.