XML 59 R44.htm IDEA: XBRL DOCUMENT v3.25.1
Fresh Start Accounting - Narrative (Details)
$ in Thousands
3 Months Ended
Mar. 13, 2025
USD ($)
debtInstrument
shares
Mar. 12, 2025
USD ($)
shares
Mar. 31, 2025
USD ($)
airportTake-offAndLandingRight
aircraft
Mar. 31, 2024
USD ($)
Mar. 18, 2025
Dec. 31, 2024
USD ($)
Reorganization, Chapter 11 [Line Items]            
Reorganization, percent of successor common shares received by predecessor shareholders less than     50.00%      
Assets $ 8,719,994 $ 8,720,000 $ 8,910,118     $ 9,595,178
Reorganization value 8,720,000 $ 9,819,000        
Selected enterprise value within bankruptcy court range $ 6,450,000          
Number of Exit Secured Notes | debtInstrument 35          
Number of publicly-traded Enhances Equipment Trust Certificates ("EETCs") | debtInstrument 4          
Number of fixed aircraft loans | debtInstrument 22          
Number of Payroll Support Program Agreements | debtInstrument 8          
Number of aircraft to be purchased | aircraft     22      
Repayments of long-term debt     $ 31,800 $ 46,800    
Warrant outstanding (in shares) | shares 24,255,256 24,255,256        
Intangible assets $ 83,482   83,482     550
Deferred income taxes $ 69,408   $ 69,305     $ 51,927
Warrants, Tranche 1            
Reorganization, Chapter 11 [Line Items]            
Warrant outstanding (in shares) | shares   3,617,385        
Warrants, Tranche 2            
Reorganization, Chapter 11 [Line Items]            
Warrant outstanding (in shares) | shares   20,637,871        
Private Placement            
Reorganization, Chapter 11 [Line Items]            
Sale of stock, number of shares issued in transaction (in shares) | shares 16,067,305          
Warrant outstanding (in shares) | shares 13,380,504          
Reorganization Items            
Reorganization, Chapter 11 [Line Items]            
Assets   $ (286,711)        
Payment of professional fees at Emergence   8,191        
Debtor reorganization items, success fees   2,600        
Repayments of long-term debt   309,000        
Capitalized heavy maintenance costs, write-off   120,900        
Impact of deferred gain on sale leaseback write off   24,500        
Deferred income taxes   $ 16,900        
Reorganization Items | Air Carrier Slots            
Reorganization, Chapter 11 [Line Items]            
Intangible assets $ 83,500          
Exit Secured Notes | Secured Debt            
Reorganization, Chapter 11 [Line Items]            
Principal amount 840,000          
Stated interest rate percentage         92.50%  
LaGuardia Airport | Valuation, Market Approach Or Income Approach            
Reorganization, Chapter 11 [Line Items]            
Number of airport take-off and landing sights ("Slots") | airportTake-offAndLandingRight     22      
G.A. Telesis            
Reorganization, Chapter 11 [Line Items]            
Number of aircraft to be sold | aircraft     21      
Minimum            
Reorganization, Chapter 11 [Line Items]            
Selected enterprise value within bankruptcy court range $ 6,100,000          
Debt instrument, fair value, aircraft loan (as a percent) 95.61%          
Minimum | Exit Secured Notes | Secured Debt            
Reorganization, Chapter 11 [Line Items]            
Stated interest rate percentage 11.00%          
Minimum | Enhanced Equipment Trust Certificate | Secured Debt            
Reorganization, Chapter 11 [Line Items]            
Stated interest rate percentage 87.32%          
Maximum            
Reorganization, Chapter 11 [Line Items]            
Selected enterprise value within bankruptcy court range $ 6,800,000          
Debt instrument, fair value, aircraft loan (as a percent) 99.84%          
Maximum | Exit Secured Notes | Secured Debt            
Reorganization, Chapter 11 [Line Items]            
Stated interest rate percentage 12.00%          
Maximum | Enhanced Equipment Trust Certificate | Secured Debt            
Reorganization, Chapter 11 [Line Items]            
Stated interest rate percentage 92.85%