LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt obligations on the unaudited Condensed Consolidated Balance Sheets (in millions):

	June 30, 2024			December 31, 2023
Fixed-rate notes payable due through 2029	$	68		$	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	1,239			971
Less debt issuance costs	(14)			(15)
Total debt	2,672			2,471
Less current portion(a)	(359)			(289)
Long-term debt, less current portion	$	2,313		$	2,182
Weighted-average fixed-interest rate	3.3		%	3.4		%
Weighted-average variable-interest rate	6.9		%	6.8		%

(a) Excludes finance lease liabilities recognized within Current portion of long-term debt and finance leases in the unaudited Condensed Consolidated Balance Sheets as of December 31, 2023.

Schedule of Maturities of Long-term Debt

At June 30, 2024, long-term debt principal payments for the next five years and thereafter are as follows (in millions):

	Total
Remainder of 2024	$	164
2025	385
2026	342
2027	666
2028	176
Thereafter	953
Total Principal Payments	$	2,686