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Debt and Other Obligations (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
Long-term debt is comprised of the following:
As of
December 31, 2023December 31, 2022December 31, 2023December 31, 2022
(in millions)(weighted-average interest rates)
8.00% senior secured notes due in 2025
$1,110.0 $1,110.0 8.00 %8.00 %
Fixed-rate term loans due through 2039 (1)
1,093.3 1,094.7 5.83 %3.52 %
Unsecured term loans due through 2031136.3 136.3 1.00 %1.00 %
Fixed-rate class A 2015-1 EETC due through 2028
256.6 278.6 4.10 %4.10 %
Fixed-rate class B 2015-1 EETC due through 2024
40.0 48.0 4.45 %4.45 %
Fixed-rate class C 2015-1 EETC due through 2023
— 63.8 4.93 %4.93 %
Fixed-rate class AA 2017-1 EETC due through 2030
172.2 186.3 3.38 %3.38 %
Fixed-rate class A 2017-1 EETC due through 2030
57.4 62.1 3.65 %3.65 %
Fixed-rate class B 2017-1 EETC due through 2026
48.2 51.7 3.80 %3.80 %
Fixed-rate class C 2017-1 EETC due through 2023
— 85.5 5.11 %5.11 %
Convertible notes due in 202525.1 25.4 4.75 %4.75 %
Convertible notes due in 2026500.0 500.0 1.00 %1.00 %
Long-term debt$3,439.1 $3,642.4 
Less current maturities315.3 346.4 
Less unamortized discount, net
69.0 95.8 
Total$3,054.8 $3,200.2 
(1) Includes obligations related to 15 aircraft recorded as failed sale-leaseback transactions. Refer to Note 14, Leases for additional information.
Schedule of Maturities of Long-term Debt
At December 31, 2023, long-term debt principal payments for the next five years and thereafter are as follows:
December 31, 2023
(in millions)
2024$305.2 
20251,263.7 
2026670.0 
2027150.3 
2028252.5 
2029 and beyond797.4 
Total debt principal payments$3,439.1 
Schedule of Interest Expense on Long-term Debt and Capital Leases
Interest expense related to long-term debt and finance leases consists of the following:
 Twelve Months Ended December 31,
202320222021
(in thousands)
8.00% senior secured notes (1)
$93,010 $47,954 $51,897 
Fixed-rate term loans37,213 41,446 42,765 
Unsecured term loans1,363 1,363 1,168 
Class A 2015-1 EETC10,962 11,874 12,781 
Class B 2015-1 EETC1,954 2,312 2,669 
Class C 2015-1 EETC777 3,424 3,988 
Class AA 2017-1 EETC5,990 6,464 6,938 
Class A 2017-1 EETC2,159 2,330 2,501 
Class B 2017-1 EETC1,881 2,016 2,189 
Class C 2017-1 EETC522 4,367 4,367 
Convertible notes (2)
(3,778)(68)6,997 
Revolving credit facilities— — 1,733 
Finance leases30 57 93 
Commitment and other fees1,655 2,162 2,243 
Amortization of deferred financing costs15,453 14,204 13,282 
Total$169,191 $139,905 $155,611 
(1) Includes $4.2 million, $1.4 million and $1.3 million of accretion and $88.8 million, $46.5 million and $50.6 million of interest expense for the twelve months ended December 31, 2023, 2022, and 2021 respectively.
(2) Includes $14.3 million and $20.3 million of amortization of the discount for the convertible notes due 2026 as well as interest expense for the convertible notes due 2025 and 2026, offset by $18.1 million and $20.3 million of favorable mark to market adjustments for the convertible notes due 2026 for the twelve months ended December 31, 2023 and December 31, 2022. Includes $7.0 million of interest expense for the convertible notes due 2025 and convertible notes due 2026 for the twelve months ended December 31, 2021.