Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 740	$ 609
Accounts receivable, net	73	93
Supplies, net	79	79
Other current assets	98	90
Total current assets	990	871
Property and equipment, net	376	309
Operating lease right-of-use assets	3,930	2,964
Pre-delivery deposits for flight equipment	404	407
Aircraft maintenance deposits	0	84
Intangible assets, net	27	28
Other assets	426	330
Total assets	6,153	4,993
Liabilities and stockholders’ equity
Accounts payable	115	134
Air traffic liability	294	253
Frequent flyer liability	18	10
Current maturities of long-term debt, net	261	251
Current maturities of operating leases	664	549
Other current liabilities	500	461
Total current liabilities	1,852	1,658
Long-term debt, net	241	219
Long-term operating leases	3,302	2,440
Long-term frequent flyer liability	31	35
Other long-term liabilities	123	134
Total liabilities	5,549	4,486
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.001 par value per share, with 225,440,496 and 222,998,790 shares issued and outstanding as of December 31, 2024 and 2023, respectively	0	0
Additional paid-in capital	414	403
Retained earnings	196	111
Accumulated other comprehensive income (loss)	(6)	(7)
Total stockholders’ equity	604	507
Total liabilities and stockholders’ equity	$ 6,153	$ 4,993