LONG-TERM DEBT

Long-term debt obligations on the consolidated balance sheet (in millions):



	June 30, 2014			December 31, 2013
Fixed-rate notes payable due through 2024	$	660		$	703
Variable-rate notes payable due through 2025	199			168
Long-term debt	859			871
Less current portion	114			117
Total	$	745		$	754

Weighted-average fixed-interest rate	5.7		%	5.7		%
Weighted-average variable-interest rate	1.6		%	1.7		%

During the six months ended June 30, 2014, the Company made debt payments of $64 million. In addition, the company financed $51 million for the three Q400's that were delivered in Q4 2013.

At June 30, 2014, long-term debt principal payments for the next five years and thereafter are as follows (in millions):



	Total
Remainder of 2014	$	56
2015	117
2016	115
2017	121
2018	151
Thereafter	299
Total	$	859

Bank Lines of Credit

The Company has two $100 million credit facilities. Both facilities have variable interest rates based on LIBOR plus a specified margin. One of the $100 million facilities, which expires in August 2015, is secured by aircraft. The other $100 million facility, which expires in March 2017, is secured by certain accounts receivable, spare engines, spare parts and ground service equipment. The Company has no immediate plans to borrow using either of these facilities. These facilities have a requirement to maintain a minimum unrestricted cash and marketable securities balance of $500 million. The Company is in compliance with this covenant at June 30, 2014.