LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

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

	March 31, 2024			December 31, 2023
Fixed-rate notes payable due through 2029	$	73		$	80
Fixed-rate PSP notes payable due through 2031	600			600
Fixed-rate EETC payable due through 2025 & 2027	779			835
Variable-rate notes payable due through 2036	1,128			971
Less debt issuance costs	(15)			(15)
Total debt	2,565			2,471
Less current portion(a)	301			289
Long-term debt, less current portion	$	2,264		$	2,182
Weighted-average fixed-interest rate	3.3		%	3.4		%
Weighted-average variable-interest rate	6.8		%	6.8		%

(a) Excludes finance lease liabilities recognized within Current portion of long-term debt and finance leases in the condensed consolidated balance sheets as of December 31, 2023.

Schedule of Maturities of Long-term Debt

At March 31, 2024, long-term debt principal payments for the next five years and thereafter are as follows (in millions):

	Total
Remainder of 2024	$	201
2025	365
2026	322
2027	646
2028	131
Thereafter	915
Total Principal Payments	$	2,580