Leases (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023. 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 2023	$	318	$	268,444	$	5,414	$	530	$	274,706
2024	201		346,156		5,460		178		351,995
2025	179		331,268		4,011		—		335,458
2026	101		304,955		3,934		—		308,990
2027	27		289,246		3,104		—		292,377
2028 and thereafter	—		2,718,143		141,297		—		2,859,440
Total minimum lease payments	$	826	$	4,258,212	$	163,220	$	708	$	4,422,966
Less amount representing interest	49		1,488,499		133,569		22		1,622,139
Present value of minimum lease payments	$	777	$	2,769,713	$	29,651	$	686	$	2,800,827
Less current portion	367		189,083		5,272		684		195,406
Long-term portion	$	410	$	2,580,630	$	24,379	$	2	$	2,605,421

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 March 31, 2023. 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 2023	$	318	$	268,444	$	5,414	$	530	$	274,706
2024	201		346,156		5,460		178		351,995
2025	179		331,268		4,011		—		335,458
2026	101		304,955		3,934		—		308,990
2027	27		289,246		3,104		—		292,377
2028 and thereafter	—		2,718,143		141,297		—		2,859,440
Total minimum lease payments	$	826	$	4,258,212	$	163,220	$	708	$	4,422,966
Less amount representing interest	49		1,488,499		133,569		22		1,622,139
Present value of minimum lease payments	$	777	$	2,769,713	$	29,651	$	686	$	2,800,827
Less current portion	367		189,083		5,272		684		195,406
Long-term portion	$	410	$	2,580,630	$	24,379	$	2	$	2,605,421

Schedule of Lease Cost

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

	Three Months Ended March 31,
	2023		2022
	(in thousands)
Finance lease cost
Amortization of leased assets	$	158	$	188
Interest of lease liabilities	10		18
Operating lease cost
Operating lease cost (1)	84,215		63,251
Short-term lease cost (1)	10,905		10,257
Variable lease cost (1)	52,655		48,694
Total lease cost	$	147,943	$	122,408

(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:

	March 31, 2023		March 31, 2022
Weighted-average remaining lease term
Operating leases	14.7 years		14.0 years
Finance leases	2.6 years		2.3 years
Weighted-average discount rate
Operating leases	6.39	%	5.62	%
Finance leases	4.46	%	4.71	%