Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

Passenger revenue is the most significant category in the Company's reported operating revenues, as outlined below:


	Three Months Ended March 31,
(in thousands)	2026		2025
Scheduled service	$	338,299	$	283,368
Ancillary air-related charges	312,650		315,279
Loyalty redemptions	20,850		18,103
Total passenger revenue	$	671,799	$	616,750

The sale of Sunseeker Resort was completed on September 4, 2025. As such, only the revenues during the three months ended March 31, 2025 are presented in the table below:


(in thousands)	Three Months Ended March 31, 2025
Rooms	$	15,431
Food and beverage	9,962
Other	5,295
Total resort revenue	$	30,688

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The following table presents the activity of the co-branded credit card and the loyalty program as of the dates indicated:


	Three Months Ended March 31,
(in thousands)	2026		2025
Balance at January 1	$	77,632	$	80,711
Points awarded (deferral of revenue)	19,729		17,798
Points redeemed (recognition of revenue)(1)	(20,860)		(18,121)
Balance at March 31(2)	$	76,501	$	80,388

(1) Points are combined in one homogeneous pool and are not separately identifiable. Revenue from points redeemed includes both points that were part of the loyalty program liability at the beginning of the period, as well as points that were issued during the period.

(2) The current portion of the loyalty program liability represents the estimate of revenue to be recognized in the next 12 months based on historical trends, with the remaining balance reflected in noncurrent liabilities expected to be recognized into revenue in periods thereafter.