Flying Agreements Revenue and Lease, Airport Services and Other Revenues (Tables)

9 Months Ended

Sep. 30, 2023

Agreements with other airlines

Schedule of revenue by type

The following table represents the Company’s flying agreements revenue by type for the three and nine months ended September 30, 2023 and 2022 (in thousands):

	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Capacity purchase agreements flight operations revenue (non-lease component)	$	511,929	$	534,781	$	1,479,987	$	1,589,128
Capacity purchase agreements fixed aircraft lease revenue		73,794		133,989		222,316		387,576
Capacity purchase agreements variable aircraft lease revenue		46,495		—		134,584		—
Prorate agreements revenue		109,680		94,744		269,243		268,647
Flying agreements revenue	$	741,898	$	763,514	$	2,106,130	$	2,245,351

Schedule of aircraft and agreements with major airline partners

United Express Agreements
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
United Express Agreements (capacity purchase agreement)	• E175 • CRJ 700 • CRJ 200	90 19 70	• Individual aircraft have scheduled removal dates from 2024 to 2029
United Express Prorate Agreement (prorate agreement)	• CRJ 200	19*	• Terminable with 120-days’ notice
Total under United Express Agreements		198

Delta Connection Agreements
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
Delta Connection Agreement (capacity purchase agreement)	• E175 • CRJ 900 • CRJ 700	83 35 5	• Individual aircraft have scheduled removal dates from 2024 to 2033
Delta Connection Prorate Agreement (prorate agreement)	• CRJ 900 • CRJ 700 • CRJ 200	2* 4* 15*	•Terminable with 30-days’ notice
Total under Delta Connection Agreements		144

American Capacity Purchase Agreement
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
American Agreement (capacity purchase agreement)	• E175 • CRJ 700	20 89	• Individual aircraft have scheduled removal dates from 2024 to 2032
Total under American Agreement		109

Alaska Capacity Purchase Agreement
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
Alaska Agreement (capacity purchase agreement)	• E175	42	• Individual aircraft have scheduled removal dates from 2030 to 2034

Schedule of future minimum rental payments for operating leases

October 2023 through December 2023	$	5,044
2024		19,553
2025		16,240
2026		13,511
2027		12,316
Thereafter		54,367
Total future minimum operating lease payments	$	121,031

Schedule of allowance for credit losses

The following table summarizes the changes in allowance for credit losses:

	Allowance for Credit Losses
Balance at December 31, 2022	$	37,385
Adjustments to credit loss reserves		(1,789)
Write-offs charged against allowance		(3,570)
Balance at September 30, 2023	$	32,026

Airport customer service and other

Agreements with other airlines

Schedule of revenue by type

	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Operating lease revenue	$	16,091	$	15,928	$	49,442	$	48,933
Airport customer service and other revenue		8,182		10,001		28,073		29,396
Lease, airport services and other	$	24,273	$	25,929	$	77,515	$	78,329

Aircraft

Agreements with other airlines

Schedule of future minimum rental payments for operating leases

	For the three months ended September 30,				For the nine months ended September 30,
	2023		2022		2023		2022
Operating lease revenue	$	16,091	$	15,928	$	49,442	$	48,933
Airport customer service and other revenue		8,182		10,001		28,073		29,396
Lease, airport services and other	$	24,273	$	25,929	$	77,515	$	78,329