Long-Term Debt

9 Months Ended

Sep. 30, 2019

Long-Term Debt

Long-Term Debt

Note 8 — Long-Term Debt

Long-term debt consisted of the following as of September 30, 2019 and December 31, 2018 (in thousands):

	September 30, 2019		December 31, 2018
Current portion of long-term debt	$	366,248	$	354,072
Current portion of unamortized debt issue cost, net		(3,666)		(3,866)
Current portion of long-term debt, net of debt issue costs	$	362,582	$	350,206
Long-term debt, net of current maturities	$	2,642,340	$	2,831,366
Long-term portion of unamortized debt issue cost, net		(20,104)		(21,598)
Long-term debt, net of current maturities and debt issue costs	$	2,622,236	$	2,809,768
Total long-term debt (including current portion)	$	3,008,588	$	3,185,438
Total unamortized debt issue cost, net		(23,770)		(25,464)
Total long-term debt, net of debt issue costs	$	2,984,818	$	3,159,974

During the nine months ended September 30, 2019, the Company took delivery of five E175 aircraft that the Company financed through $99.9 million of long-term debt. The debt associated with the five E175 aircraft has a 12-year term, is due in quarterly installments with fixed annual interest rates ranging from 3.8% to 4.1% and is secured by the E175 aircraft. Additionally, the Company purchased two previously leased aircraft during the first quarter of 2019, for which the Company assumed $14.5 million of long-term debt. The debt associated with the two previously leased aircraft has a term of 18 months with monthly interest only payments with a fixed annual interest rate of 2.0% and is secured by the previously leased aircraft.

As of September 30, 2019, and December 31, 2018, the Company had $72.8 million and $78.7 million, respectively, in letters of credit and surety bonds outstanding with various banks and surety institutions.