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Debt and Other Obligations (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Long-term debt is comprised of the following:

As ofAs of
September 30, 2024December 31, 2023September 30, 2024December 31, 2023
(in millions)(weighted-average interest rates)
8.00% senior secured notes due 2025
$1,110.0 $1,110.0 8.00 %8.00 %
Fixed-rate loans due through 2039 (1)
1,011.8 1,093.3 6.44 %5.83 %
Unsecured term loans due in 2031136.3 136.3 1.00 %1.00 %
Fixed-rate class A 2015-1 EETC due through 2028245.6 256.6 4.10 %4.10 %
Fixed-rate class B 2015-1 EETC due through 2024— 40.0 4.45 %4.45 %
Fixed-rate class AA 2017-1 EETC due through 2030
160.3 172.2 3.38 %3.38 %
Fixed-rate class A 2017-1 EETC due through 2030
53.4 57.4 3.65 %3.65 %
Fixed-rate class B 2017-1 EETC due through 2026
44.7 48.2 3.80 %3.80 %
Convertible notes due 202525.1 25.1 4.75 %4.75 %
Convertible notes due 2026500.0 500.0 1.00 %1.00 %
Long-term debt$3,287.2 $3,439.1 
Less current maturities1,253.2 315.3 
Less unamortized discounts, net
47.6 69.0 
Total$1,986.4 $3,054.8 
(1) Includes obligations related to 18 aircraft recorded as a failed sale leaseback. Refer to Note 10, Leases for additional information.
Schedule of Maturities of Long-term Debt
At September 30, 2024, long-term debt principal payments for the next five years and thereafter were as follows:

September 30, 2024
(in millions)
Remainder of 2024$33.5 
20251,267.5 
2026674.1 
2027154.7 
2028257.2 
2029 and beyond900.2 
Total debt principal payments$3,287.2 
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,
2024202320242023
(in thousands)
8.00% senior secured notes (1)
$23,252 $23,252 69,757 $69,757 
Fixed-rate term loans17,275 9,111 52,630 28,012 
Unsecured term loans343 344 1,028 1,020 
Class A 2015-1 EETC2,531 2,758 7,649 8,312 
Class B 2015-1 EETC— 492 446 1,506 
Class C 2015-1 EETC— — — 777 
Class AA 2017-1 EETC1,385 1,495 4,208 4,537 
Class A 2017-1 EETC503 539 1,517 1,636 
Class B 2017-1 EETC438 470 1,324 1,423 
Class C 2017-1 EETC— — — 522 
Convertible notes (2)
4,432 (1,468)12,795 (8,510)
Finance leases8 7 25 24 
Commitment and other fees412 415 1,247 1,243 
Amortization of deferred financing costs3,556 3,845 10,625 11,674 
Total$54,135 $41,260 $163,251 $121,933 
(1) Includes $1.1 million and $3.2 million of accretion and $22.2 million and $66.6 million of interest expense for the three and nine months ended September 30, 2024, respectively. Includes $1.1 million and $3.2 million of accretion and $22.2 million and $66.6 million of interest expense for the three and nine months ended September 30, 2023, respectively.
(2) Includes $4.4 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, for the three months ended September 30, 2024. Includes $13.3 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, partially offset by $0.5 million of favorable mark to market adjustments for the convertible notes due 2026, for the nine months ended September 30, 2024. Includes $4.4 million and $9.9 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 $5.9 million and $18.4 million of favorable mark to market adjustments for the convertible notes due 2026, for the three and nine months ended September 30, 2023, respectively.