Long-term Debt

3 Months Ended

Mar. 31, 2022

Long-term Debt

Long-term Debt

(8) Long-term Debt

Long-term debt consisted of the following as of March 31, 2022, and December 31, 2021 (in thousands):

		March 31, 2022		December 31, 2021
Current portion of long-term debt	$	413,703	$	395,371
Current portion of unamortized debt issue cost, net		(3,579)		(3,573)
Current portion of long-term debt, net of debt issue costs	$	410,124	$	391,798
Long-term debt, net of current maturities	$	2,818,727	$	2,745,567
Long-term portion of unamortized debt issue cost, net		(27,453)		(28,147)
Long-term debt, net of current maturities and debt issue costs	$	2,791,274	$	2,717,420
Total long-term debt (including current portion)	$	3,232,430	$	3,140,938
Total unamortized debt issue cost, net		(31,032)		(31,720)
Total long-term debt, net of debt issue costs	$	3,201,398	$	3,109,218

During the three months ended March 31, 2022, the Company took delivery of four new E175 aircraft that the Company financed through $82.8 million of long-term debt. The debt associated with the E175 aircraft has 5-year to 10-year terms, is due in monthly installments, and is secured by the E175 aircraft.

During the three months ended March 31, 2022, the Company executed a promissory note for $102.9 million. The promissory note has a three-year term, is due in monthly installments with a fixed annual interest rate of 3.6% and is secured by spare engines.

As of both March 31, 2022, and December 31, 2021, the Company had $61.4 million in letters of credit and surety bonds outstanding with various banks and surety institutions.

As of March 31, 2022, SkyWest Airlines had a $100 million line of credit with an expiration date of March 25, 2025. The line of credit includes minimum liquidity and profitability covenants and is secured by certain assets. As of March 31, 2022, SkyWest Airlines had no amount outstanding under the facility. However, at March 31, 2022, SkyWest Airlines had $31.4 million in letters of credit issued under the facility, which reduced the amount available under the facility to $68.6 million.