Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes the Company's long-term debt and finance lease obligations, net of related costs, as of the dates indicated:


(in thousands)	June 30, 2026		December 31, 2025
Fixed-rate debt and finance lease obligations due through 2032	$	1,860,678	$	1,062,935
Variable-rate debt due through 2038	918,776		736,681
Total long-term debt and finance lease obligations, net of related costs	2,779,454		1,799,616
Less current maturities, net of related costs	318,676		118,075
Long-term debt and finance lease obligations, net of current maturities and related costs	$	2,460,778	$	1,681,541

Weighted average fixed-interest rate on debt	5.7%		6.7%
Weighted average variable-interest rate on debt	5.8%		5.9%


				Interest Rate(s) Per Annum at			Balance as of
(dollars in thousands)	Maturity dates			June 30, 2026			June 30, 2026		December 31, 2025
Senior secured notes	2027	-	2031	7.13%	—	7.25%	$	675,476	$	403,009
Consolidated variable interest entities	2028	-	2031	2.92%	-	5.19%	108,731		95,111
Revolving credit facilities	2028	-	2030	N/A			—		—
Debt secured by aircraft, engines, other equipment and real estate	2028	-	2038	1.87%	-	7.78%	1,186,936		915,084
Finance leases	2026	-	2032	4.44%	-	7.02%	648,611		403,060
Enhanced equipment trust certificates	2027	-	2031	4.13%	-	7.10%	189,164		—


Total debt and finance lease obligations							$	2,808,918	$	1,816,264
Related costs							(29,464)		(16,648)
Total debt and finance lease obligations, net of related costs							$	2,779,454	$	1,799,616

Maturities of long term debt as of June 30, 2026, for the next five years and thereafter, in the aggregate, are:


(in thousands)	As of June 30, 2026
Remaining in 2026	$	196,647
2027	284,173
2028	283,169
2029	361,867
2030	266,920
2031	829,283
Thereafter	557,395
Total debt and finance lease obligations, net of related costs	$	2,779,454