Leases, Commitments, Guarantees and Contingencies (Tables)

6 Months Ended

Jun. 30, 2025

Leases, Commitments, Guarantees and Contingencies

Summary of related terms and discount rates

The table below presents lease related terms and discount rates as of June 30, 2025:

Weighted-average remaining lease term for operating leases	11.0 years
Weighted-average discount rate for operating leases	6.3%

Summary of lease costs

The Company’s lease costs for the three and six months ended June 30, 2025 and 2024 included the following components (in thousands):

	For the three months ended June 30,				For the six months ended June 30,
	2025		2024		2025		2024
Operating lease cost	$	8,946	$	6,658	$	17,196	$	13,917
Variable and short-term lease cost		639		543		1,128		1,576
Sublease income		(1,004)		(1,268)		(2,119)		(2,514)
Total lease cost	$	8,581	$	5,933	$	16,205	$	12,979

Summary of commitments and obligations

The following table summarizes the Company’s commitments and obligations for future minimum rental payments required under operating leases that had initial or remaining non-cancelable lease terms as of June 30, 2025, firm aircraft and spare engine commitments, interest commitments and principal maturities on long-term debt as noted for each of the next five years and thereafter (in thousands):

	Total		Jul - Dec 2025		2026		2027		2028		2029		Thereafter
Operating lease payments for aircraft and facility obligations	$	118,743	$	10,479	$	19,009	$	16,149	$	10,857	$	9,140	$	53,109
Firm aircraft and spare engine commitments		2,434,032		206,791		229,169		323,267		329,050		309,213		1,036,542
Interest commitments		378,901		52,465		89,342		66,074		49,244		36,917		84,859
Principal maturities on long-term debt		2,514,645		266,934		535,083		490,204		320,265		216,724		685,435
Total commitments and obligations	$	5,446,321	$	536,669	$	872,603	$	895,694	$	709,416	$	571,994	$	1,859,945