Leases, Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2022

Leases, Commitments and Contingencies

Summary of related terms and discount rates

	As of March 31, 2022
Weighted-average remaining lease term for operating leases	6.2 years
Weighted-average discount rate for operating leases	6.0%

Summary of lease costs

The Company’s lease costs for the three months ended March 31, 2022 and 2021 included the following components (in thousands):

	For the three months ended March 31,
	2022		2021
Operating lease cost	$	21,841	$	22,127
Variable and short-term lease cost		1,018		1,224
Sublease income		(1,803)		(1,335)
Total lease cost	$	21,056	$	22,016

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 March 31, 2022 (in thousands):

April 2022 through December 2022	$	66,742
2023		76,049
2024		32,144
2025		17,568
2026		15,491
Thereafter		72,827
	$	280,821

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		Apr - Dec 2022		2023		2024		2025		2026		Thereafter
Operating lease payments for aircraft and facility obligations	$	280,821	$	66,742	$	76,049	$	32,144	$	17,568	$	15,491	$	72,827
Firm aircraft and spare engine commitments		679,789		653,270		26,519		—		—		—		—
Interest commitments (1)		485,584		87,784		103,072		86,121		68,249		51,641		88,717
Principal maturities on long-term debt		3,232,430		315,901		422,380		418,088		485,348		429,621		1,161,092
Total commitments and obligations	$	4,678,624	$	1,123,697	$	628,020	$	536,353	$	571,165	$	496,753	$	1,322,636

(1) At March 31, 2022, the Company’s long-term debt had fixed interest rates.