DEBT (Tables)

6 Months Ended

Sep. 30, 2015

Debt as of September 30 and March 31, 2015 consisted of the following (in thousands):



	September 30, 2015			March 31, 2015
6¼% Senior Notes due 2022	$	401,535		$	401,535
Term Loan	342,611			222,179
Revolving Credit Facility	223,800			83,800
Airnorth debt	20,839			23,119
Eastern Airways debt	14,595			19,680
3% Convertible Senior Notes due 2038, including zero and $0.9 million of unamortized discount, respectively	—			114,109
Total debt	1,003,380			864,422
Less short-term borrowings and current maturities of long-term debt	(30,041		)	(18,730		)
Total long-term debt	$	973,339		$	845,692

Schedule of convertible debt

The balances of the debt and equity components of the 3% Convertible Senior Notes as of each period are as follows (in thousands):



	September 30, 2015		March 31, 2015
Equity component – net carrying value	$	14,905	$	14,905
Debt component:
Face amount due at maturity	$	—	$	115,000
Unamortized discount	—		(891		)
Debt component – net carrying value	$	—	$	114,109

Schedule of convertible debt interest expense

Interest expense related to our 3% Convertible Senior Notes for the three and six months ended September 30, 2015 and 2014 was as follows (in thousands):



	Three Months Ended September 30,				Six Months Ended September 30,
	2015		2014		2015		2014
Contractual coupon interest	$	7	$	863	$	725	$	1,726
Amortization of debt discount	—		1,048		891		2,067
Total interest expense	$	7	$	1,911	$	1,616	$	3,793