Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amounts and estimated fair values of the Company’s debt are as follows (in millions):

	June 30, 2025				December 31, 2024
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Secured debt:
Pre-delivery Credit Facilities	$	386	$	391	$	329	$	333
Building notes	12		12		12		12
Unsecured debt:
Affinity card advance purchase of miles	101		99		100		98
PSP Promissory Notes	66		63		66		62
Total debt	$	565	$	565	$	507	$	505

Schedule of Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The tables below present disclosures about the fair value of assets and liabilities measured at fair value on a recurring basis on the Company’s condensed consolidated balance sheets (in millions):

		Fair Value Measurements as of June 30, 2025
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Cash, cash equivalents and restricted cash	Cash and cash equivalents	$	563	$	563	$	—	$	—

		Fair Value Measurements as of December 31, 2024
Description	Balance Sheet Classification	Total		Level 1		Level 2		Level 3
Cash, cash equivalents and restricted cash	Cash and cash equivalents	$	740	$	740	$	—	$	—