Long-Term Debt

3 Months Ended

Mar. 31, 2020

Long-Term Debt

Long-Term Debt

Note 9 — Long-Term Debt

Long-term debt consisted of the following as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020		December 31, 2019
Current portion of long-term debt	$	368,558	$	367,954
Current portion of unamortized debt issue cost, net		(3,979)		(3,828)
Current portion of long-term debt, net of debt issue costs	$	364,579	$	364,126
Long-term debt, net of current maturities	$	2,558,704	$	2,649,569
Long-term portion of unamortized debt issue cost, net		(21,091)		(20,580)
Long-term debt, net of current maturities and debt issue costs	$	2,537,613	$	2,628,989
Total long-term debt (including current portion)	$	2,927,262	$	3,017,523
Total unamortized debt issue cost, net		(25,070)		(24,408)
Total long-term debt, net of debt issue costs	$	2,902,192	$	2,993,115

During the three months ended March 31, 2020, the Company did not issue any long-term debt.

As of March 31, 2020, and December 31, 2019, the Company had $61.8 million and $61.7 million, respectively, in letters of credit and surety bonds outstanding with various banks and surety institutions.

As of March 31, 2020, SkyWest Airlines had a $75 million line of credit. The line of credit includes minimum liquidity and profitability covenants and is secured by certain assets. As of March 31, 2020, the Company was in compliance with the line of credit covenants. As of March 31, 2020, SkyWest Airlines had no amount outstanding under the facility. However, at March 31, 2020 SkyWest Airlines had $8.8 million in letters of credit issued under the facility, which reduced the amount available under the facility to $66.2 million. Subsequent to March 31, 2020, the Company obtained a waiver under the line of credit to allow the Company to receive funding under the CARES Act. See Note 15 for more information on the funding received under the CARES Act.