Leases, Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Leases, Commitments and Contingencies

Summary of related terms and discount rates

	As of September 30, 2020
Weighted-average remaining lease term for operating leases	6.6 years
Weighted-average discount rate for operating leases		6.1%

Summary of lease costs

	For the three months ended September 30,				For the nine months ended September 30,
	2020		2019		2020		2019
Operating lease cost	$	23,538	$	25,173	$	72,696	$	80,041
Variable and short-term lease cost		950		1,343		3,501		4,164
Sublease income		(1,587)		(357)		(4,718)		(357)
Total lease cost	$	22,901	$	26,159	$	71,479	$	83,848

Schedule of future minimum rental payments for operating leases

October 2020 through December 2020	$	22,393
2021		85,599
2022		76,923
2023		69,419
2024		28,091
Thereafter		98,448
	$	380,873

Summary of commitments and obligations

The following table summarizes the Company’s commitments and obligations as noted for each of the next five years and thereafter (in thousands):

	Total		Oct - Dec 2020		2021		2022		2023		2024		Thereafter
Operating lease payments for aircraft and facility obligations	$	380,873	$	22,393	$	85,599	$	76,923	$	69,419	$	28,091	$	98,448
Firm aircraft and spare engine commitments		655,906		114,223		139,003		402,680		—		—		—
Interest commitments (1)		541,062		28,777		114,652		99,811		82,790		67,376		147,656
Principal maturities on long-term debt		3,101,657		69,405		387,309		388,152		397,913		351,431		1,507,447
Total commitments and obligations	$	4,679,498	$	234,798	$	726,563	$	967,566	$	550,122	$	446,898	$	1,753,551

(1) At September 30, 2020, the Company had variable rate notes representing only 2.4% of its total long-term debt.