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Fresh Start Accounting- 2024 Bankruptcy - Schedule of Consolidated Successor Balance Sheet (Details) - USD ($)
$ / shares in Units, $ in Thousands
Sep. 30, 2025
Sep. 02, 2025
Jun. 30, 2025
Mar. 31, 2025
Mar. 13, 2025
Mar. 12, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Current assets:                      
Cash and cash equivalents $ 250,494       $ 388,607   $ 902,057        
Restricted cash         176,618            
Short-term investment securities         119,315            
Accounts receivable, net         201,681            
Prepaid expenses and other current assets 306,263       257,294   278,366        
Assets held for sale 3,119       447,271   463,020        
Total current assets 1,070,365       1,590,787   2,109,122        
Property and equipment:                      
Flight equipment 2,165,717       1,888,698   2,736,461        
Ground property and equipment 444,917       441,866   783,645        
Less accumulated depreciation (89,476)       0   (1,027,872)        
Total property and equipment, net 2,521,158       2,330,564   2,492,234        
Operating lease right-of-use assets 4,646,002       4,436,918   4,583,734        
Intangible assets 83,482       83,482   550        
Pre-delivery deposits on flight equipment 75,376       85,495   113,493        
Deferred heavy maintenance, net 110,568       125,705   241,094        
Other long-term assets 288,093       67,043   54,951        
Total assets 8,795,044       8,719,994 $ 8,720,000 9,595,178        
Current liabilities:                      
Accounts payable 149,270       46,676   32,385        
Air traffic liability 373,096       518,668   436,813        
Current maturities of long-term debt, net, and finance leases 119,226       165,689   436,532        
Current maturities of operating leases 4,201       242,230   257,796        
Other current liabilities 364,383       582,249   605,839        
Total current liabilities 1,010,176       1,555,512   1,769,365        
Long-term debt, net and finance leases, less current maturities 750,205       2,054,124   1,761,215        
Operating leases, less current maturities 18,426       4,208,781   4,335,106        
Deferred income taxes 65,988       69,408   51,927        
Deferred gains and other long-term liabilities 94,286       97,799   122,595        
Total liabilities not subject to compromise         7,985,623            
Liabilities subject to compromise 6,691,470           1,635,104        
Shareholders’ equity:                      
Predecessor common stock 3       2   11        
Predecessor Additional paid-in capital 738,733       734,368   1,173,692        
Predecessor Treasury stock at cost 0           (81,285)        
Retained Earnings (Accumulated Deficit) (574,243)           (1,172,740)        
Accumulated other comprehensive income (loss) 0           188        
Total shareholders’ equity (deficit) 164,493   $ 479,445 $ 723,413 734,370 $ 734,370 (80,134) $ 503,749 $ 809,662 $ 1,002,257 $ 1,134,342
Total liabilities and shareholders’ equity (deficit) $ 8,795,044       $ 8,719,994   $ 9,595,178        
Common stock, par value (in dollars per share)   $ 0.0001     $ 0.0001 $ 0.0001          
Predecessor                      
Current assets:                      
Cash and cash equivalents           $ 678,382          
Restricted cash           171,325          
Short-term investment securities           119,315          
Accounts receivable, net           201,681          
Prepaid expenses and other current assets           259,522          
Assets held for sale           447,271          
Total current assets           1,877,498          
Property and equipment:                      
Flight equipment           2,739,143          
Ground property and equipment           787,057          
Less accumulated depreciation           (1,062,116)          
Total property and equipment, net           2,464,084          
Operating lease right-of-use assets           4,631,428          
Intangible assets           550          
Pre-delivery deposits on flight equipment           85,495          
Deferred heavy maintenance, net           246,576          
Other long-term assets           67,043          
Total assets           9,372,673          
Current liabilities:                      
Accounts payable           52,242          
Air traffic liability           518,668          
Current maturities of long-term debt, net, and finance leases           471,698          
Current maturities of operating leases           259,713          
Other current liabilities           623,035          
Total current liabilities           1,925,357          
Long-term debt, net and finance leases, less current maturities           1,704,517          
Operating leases, less current maturities           4,380,845          
Deferred income taxes           52,556          
Deferred gains and other long-term liabilities           120,795          
Total liabilities not subject to compromise           8,184,070          
Liabilities subject to compromise           1,635,104          
Shareholders’ equity:                      
Predecessor common stock           11          
Predecessor Additional paid-in capital           1,174,925          
Predecessor Treasury stock at cost           (81,285)          
Retained Earnings (Accumulated Deficit)           (1,540,278)          
Accumulated other comprehensive income (loss)           127          
Total shareholders’ equity (deficit)           (446,501)          
Total liabilities and shareholders’ equity (deficit)           9,372,673          
Reorganization Items                      
Current assets:                      
Cash and cash equivalents           (289,775)          
Restricted cash           5,293          
Prepaid expenses and other current assets           (2,229)          
Total current assets           (286,711)          
Property and equipment:                      
Total assets           (286,711)          
Current liabilities:                      
Accounts payable           (5,566)          
Current maturities of long-term debt, net, and finance leases           (309,000)          
Other current liabilities           (39,250)          
Total current liabilities           (353,816)          
Long-term debt, net and finance leases, less current maturities           526,841          
Deferred income taxes           16,900          
Total liabilities not subject to compromise           173,025          
Liabilities subject to compromise           (1,635,104)          
Shareholders’ equity:                      
Predecessor common stock         $ 2 (11)          
Predecessor Additional paid-in capital         $ 734,368 (1,174,925)          
Predecessor Treasury stock at cost           81,285          
Retained Earnings (Accumulated Deficit)           1,534,648          
Total shareholders’ equity (deficit)           1,175,368          
Total liabilities and shareholders’ equity (deficit)           (286,711)          
Fresh Start Adjustment                      
Current assets:                      
Total current assets           0          
Property and equipment:                      
Flight equipment           (850,445)          
Ground property and equipment           (345,190)          
Less accumulated depreciation           1,062,116          
Total property and equipment, net           (133,520)          
Operating lease right-of-use assets           (194,510)          
Intangible assets           82,932          
Deferred heavy maintenance, net           (120,871)          
Total assets           (365,969)          
Current liabilities:                      
Current maturities of long-term debt, net, and finance leases           2,991          
Current maturities of operating leases           (17,483)          
Other current liabilities           (1,536)          
Total current liabilities           (16,029)          
Long-term debt, net and finance leases, less current maturities           (177,234)          
Operating leases, less current maturities           (172,065)          
Deferred income taxes           16,852          
Deferred gains and other long-term liabilities           (22,996)          
Total liabilities not subject to compromise           (371,472)          
Shareholders’ equity:                      
Retained Earnings (Accumulated Deficit)           5,630          
Accumulated other comprehensive income (loss)           (127)          
Total shareholders’ equity (deficit)           5,503          
Total liabilities and shareholders’ equity (deficit)           $ (365,969)