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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
OPERATING REVENUES:        
Total operating revenues $ 867,118 $ 725,643 $ 1,670,732 $ 1,417,474
OPERATING EXPENSES:        
Salaries, wages and benefits 355,005 322,441 706,004 657,642
Aircraft maintenance, materials and repairs 183,267 162,491 328,682 304,717
Depreciation and amortization 96,814 97,169 192,684 191,318
Aircraft fuel 21,328 18,279 42,492 39,243
Airport-related expenses 17,535 16,955 38,423 35,250
Aircraft rentals 1,310 2,428 2,586 21,956
Other operating expenses 72,219 74,020 140,715 140,192
Total operating expenses 747,478 693,783 1,451,586 1,390,318
OPERATING INCOME 119,640 31,860 219,146 27,156
OTHER INCOME (EXPENSE):        
Interest income 12,040 10,494 23,666 20,527
Interest expense (28,966) (33,718) (58,795) (67,338)
Other income (loss), net (548) 9,001 (1,676) 11,175
Total other expense, net (17,474) (14,223) (36,805) (35,636)
INCOME (LOSS) BEFORE INCOME TAXES 102,166 17,637 182,341 (8,480)
PROVISION (BENEFIT) FOR INCOME TAXES 26,588 2,218 46,465 (1,828)
NET INCOME (LOSS) $ 75,578 $ 15,419 $ 135,876 $ (6,652)
BASIC EARNINGS (LOSS) PER SHARE (in dollars per share) $ 1.88 $ 0.35 $ 3.38 $ (0.14)
DILUTED EARNINGS (LOSS) PER SHARE (in dollars per share) $ 1.82 $ 0.35 $ 3.28 $ (0.14)
Weighted average common shares:        
Basic (in shares) 40,179 43,837 40,239 46,614
Diluted (in shares) 41,431 44,219 41,462 46,614
COMPREHENSIVE INCOME (LOSS):        
Net income (loss) $ 75,578 $ 15,419 $ 135,876 $ (6,652)
Net unrealized appreciation (depreciation) on marketable securities, net of taxes (660) 1,514 (833) 2,994
TOTAL COMPREHENSIVE INCOME (LOSS) 74,918 16,933 135,043 (3,658)
Flying agreements        
OPERATING REVENUES:        
Total operating revenues 838,170 700,394 1,616,459 1,364,232
Lease, airport services and other        
OPERATING REVENUES:        
Total operating revenues $ 28,948 $ 25,249 $ 54,273 $ 53,242