Leases, Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2021

Leases, Commitments and Contingencies

Summary of related terms and discount rates

	As of September 30, 2021
Weighted-average remaining lease term for operating leases	6.3 years
Weighted-average discount rate for operating leases	6.0%

Summary of lease costs

The Company’s lease costs for the three and nine months ended September 30, 2021, and 2020 included the following components (in thousands):

	For the three months ended September 30,				For the nine months ended September 30,
	2021		2020		2021		2020
Operating lease cost	$	23,370	$	23,538	$	67,582	$	72,696
Variable and short-term lease cost		976		950		3,256		3,501
Sublease income		(1,888)		(1,587)		(4,717)		(4,718)
Total lease cost	$	22,458	$	22,901	$	66,121	$	71,479

Schedule of future minimum rental payments for operating leases

The following table summarizes future minimum rental payments primarily related to leased aircraft required under operating leases that had initial or remaining non-cancelable lease terms as of September 30, 2021 (in thousands):

October 2021 through December 2021	$	22,346
2022		80,467
2023		74,119
2024		30,426
2025		17,824
Thereafter		84,253
	$	309,435

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 2021		2022		2023		2024		2025		Thereafter
Operating lease payments for aircraft and facility obligations	$	309,435	$	22,346	$	80,467	$	74,119	$	30,426	$	17,824	$	84,253
Firm aircraft and spare engine commitments		1,062,834		327,446		708,909		26,480		—		—		—
Interest commitments (1)		480,115		28,177		106,024		90,452		74,768		59,766		120,928
Principal maturities on long-term debt		2,996,573		92,341		378,855		386,035		380,475		395,673		1,363,194
Total commitments and obligations	$	4,848,958	$	470,310	$	1,274,255	$	577,086	$	485,669	$	473,263	$	1,568,375

(1) At September 30, 2021, the Company’s long-term debt had fixed interest rates.