Operating Revenues (Tables)

3 Months Ended

Mar. 31, 2025

Agreements with other airlines

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 agreements)	• E175 • CRJ700/CRJ550 • CRJ200	114 27 50	Individual aircraft have scheduled removal dates under the agreements between 2025 and 2033
United Express Prorate Agreement	• CRJ200	27*	Terminable with 120-day notice
Total under United Express Agreements		218

Delta Connection Agreements
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
Delta Connection Agreement (capacity purchase agreement)	• E175 • CRJ900 • CRJ700	86 35 5	Individual aircraft have scheduled removal dates under the agreement between 2026 and 2034
Delta Connection Prorate Agreement	• CRJ700/CRJ550	14*	Terminable with 30-day notice
Total under Delta Connection Agreements		140

American Capacity Purchase Agreement
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
American Agreement (capacity purchase agreement)	• E175 • CRJ700	20 68	Individual aircraft have scheduled removal dates under the agreement between 2027 and 2032
Total under American Agreement		88

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 under the agreement between 2030 and 2034

* The Company’s prorate agreements are based on specific routes, not a specific aircraft count. The number of aircraft listed above for each prorate agreement approximates the number of aircraft the Company uses to serve the prorate routes.

Schedule of future minimum rental payments for operating leases

	For the three months ended March 31,
	2025		2024
Operating lease fixed revenue	$	16,065	$	11,599
Operating lease variable revenue		7,009		5,069
Airport customer service and other revenue		9,387		8,657
Lease, airport services and other	$	32,461	$	25,325

Schedule of allowance for credit losses

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

	Allowance for Credit Losses
Balance at December 31, 2024	$	15,071
Adjustments to credit loss reserves		684
Write-offs charged against allowance		(63)
Balance at March 31, 2025	$	15,692

Airport customer service and other

Agreements with other airlines

Schedule of revenue by type

	For the three months ended March 31,
	2025		2024
Operating lease fixed revenue	$	16,065	$	11,599
Operating lease variable revenue		7,009		5,069
Airport customer service and other revenue		9,387		8,657
Lease, airport services and other	$	32,461	$	25,325

Flying agreements

Agreements with other airlines

Schedule of revenue by type

The following table represents the Company’s flying agreements revenue by type for the three months ended March 31, 2025 and 2024 (in thousands):

	For the three months ended March 31,
	2025		2024
Capacity purchase agreements flight operations revenue (non-lease component)	$	639,153	$	544,160
Capacity purchase agreements fixed aircraft lease revenue		110,988		75,159
Capacity purchase agreements variable aircraft lease revenue		35,039		57,886
Prorate agreements and SWC revenue		130,814		101,084
Flying agreements revenue	$	915,994	$	778,289