XML 40 R26.htm IDEA: XBRL DOCUMENT v3.24.0.1
Long-term Debt (Tables)
12 Months Ended
Dec. 31, 2023
Long-term Debt  
Schedule of long-term debt

Long-term debt consisted of the following as of December 31, 2023 and 2022 (in thousands):

​

​

​

​

​

​

​

​

​

    

December 31,

    

December 31,

  

​

​

2023

​

2022

 

Notes payable to banks, due in quarterly installments, plus interest at 2.33% to 5.95% through 2035, secured by aircraft

​

$

2,302,578

​

$

2,604,058

​

Notes payable to banks, due in monthly or semi-annual installments, plus interest at 2.68% to 5.94% through 2032, secured by aircraft and engines

​

 

527,092

​

 

604,613

​

Notes payable to U.S. Government, interest due quarterly at 1.00% through 2025 and based on SOFR plus 2.0% from 2025 through 2031, unsecured

​

 

200,640

​

 

200,640

​

Long-term debt

​

$

3,030,310

​

$

3,409,311

​

Current portion of long-term debt

​

 

(447,534)

​

 

(442,360)

​

Less long-term portion of unamortized debt issue cost, net

​

​

(20,593)

​

​

(25,179)

​

Long-term debt, net of current maturities and debt issue costs

​

$

2,562,183

​

$

2,941,772

​

​

​

​

​

​

​

​

​

Current portion of long-term debt

​

$

447,534

​

$

442,360

​

Less current portion of unamortized debt issue cost, net

​

​

(3,665)

​

​

(3,858)

​

Current portion of long-term debt, net of debt issue costs

​

$

443,869

​

$

438,502

​

Schedule of maturities of long-term debt

The aggregate amounts of principal maturities of long-term debt as of December 31, 2023 were as follows (in thousands):

​

​

​

​

​

2024

    

$

447,534

 

2025

​

 

532,314

​

2026

​

 

510,625

​

2027

​

 

464,280

​

2028

​

 

292,812

​

Thereafter

​

 

782,745

​

​

​

$

3,030,310

​

Carrying value and fair value of long-term debt

​

​

​

​

​

​

​

​

​

December 31, 2023

​

December 31, 2022

Carrying value

​

$

3,030,310

​

$

3,409,311

Fair value

​

$

2,918,012

​

$

3,264,704

​