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ACQUISITION OF HAWAIIAN HOLDINGS, INC. (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition The total purchase price is calculated as follows:
(in millions, except per share price)September 18, 2024
Number of shares of Hawaiian common stock issued and outstanding as of September 18, 2024
52 
Multiplied by cash consideration for each share of common stock per the merger agreement$18.00 
Cash consideration paid for common stock issued and outstanding as of September 18, 2024936 
Cash consideration paid for settlement of equity awards and change in control payments41 
Total purchase consideration
$977 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
Provisional fair values of the assets acquired and the liabilities assumed as of the acquisition date, September 18, 2024, as of December 31, 2024 and September 30, 2024 were as follows:
 (in millions)December 31, 2024September 30, 2024
Cash and cash equivalents$286 $286 
Restricted cash27 27 
Marketable securities674 674 
Receivables110 110 
Inventories and supplies75 75 
Prepaid expenses and other77 77 
Property and equipment1,947 1,925 
Operating lease assets228 239 
Intangible assets799 799 
Goodwill781 761 
Other noncurrent assets97 97 
Total assets5,101 5,070 
Accounts payable57 57 
Air traffic liability513 513 
Other accrued liabilities331 331 
Deferred revenue - current229 229 
Current portion of operating lease liabilities65 65 
Current portion of long-term debt and finance leases144 144 
Long-Term Debt, net of current portion1,932 1,932 
Long-term operating lease liabilities, net of current portion234 235 
Deferred income taxes90 58 
Deferred revenue - noncurrent308 308 
Obligations for pension and post-retirement medical benefits153 153 
Other liabilities68 68 
Total liabilities4,124 4,093 
Total purchase price$977 $977 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
Fair ValueWeighted Average Amortization Period
(in millions)(in years)
Customer Relationships$285 18
Co-brand Partnerships122 3
Total finite-lived intangible assets407 
Hawaiian Trademark390 N/A
Slots 2 N/A
   Total intangible assets$799 
Business Acquisition, Pro Forma Information
The pro forma information includes adjustments for merger-related costs of $227 million assumed to have been incurred on January 1, 2023.
Twelve Months Ended December 31,
(in millions)
20242023
Revenue$13,779 $13,142 
Net income (loss)
265 (235)