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Debt Obligations
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Debt Obligations Debt Obligations
Debt obligations consisted of the following:
June 30,
2023		December 31,
2022
(in thousands)
Credit facility at a floating rate of interest of one-month London Interbank Offered Rate (“LIBOR”) plus 1.75% at June 30, 2023, secured by engines. The facility has a committed amount of $1.0 billion at June 30, 2023, which revolves until the maturity date of June 2024
$758,000 $727,000 
WEST VI Series A 2021 term notes payable at a fixed rate of interest of 3.10%, maturing in May 2046, secured by engines and one airframe
257,726 262,779 
WEST VI Series B 2021 term notes payable at a fixed rate of interest of 5.44%, maturing in May 2046, secured by engines and one airframe
35,800 36,502 
WEST VI Series C 2021 term notes payable at a fixed rate of interest of 7.39%, maturing in May 2046, secured by engines and one airframe
13,537 14,738 
WEST V Series A 2020 term notes payable at a fixed rate of interest of 3.23%, maturing in March 2045, secured by engines
248,375 255,136 
WEST V Series B 2020 term notes payable at a fixed rate of interest of 4.21%, maturing in March 2045, secured by engines
34,600 35,542 
WEST V Series C 2020 term notes payable at a fixed rate of interest of 6.66%, maturing in March 2045, secured by engines
12,036 13,314 
WEST IV Series A 2018 term notes payable at a fixed rate of interest of 4.75%, maturing in September 2043, secured by engines
226,932 238,072 
WEST IV Series B 2018 term notes payable at a fixed rate of interest of 5.44%, maturing in September 2043, secured by engines
31,216 36,386 
WEST III Series A 2017 term notes payable at a fixed rate of interest of 4.69%, maturing in August 2042, secured by engines
188,951 209,061 
WEST III Series B 2017 term notes payable at a fixed rate of interest of 6.36%, maturing in August 2042, secured by engines
30,255 30,255 
Note payable at a fixed rate of interest of 3.18%, maturing in July 2024, secured by an aircraft
2,278 3,304 
1,839,706 1,862,089 
Less: unamortized debt issuance costs(12,685)(14,811)
Total debt obligations$1,827,021 $1,847,278 
The Company plans to extend the maturity date of its credit facility through an amendment to the credit agreement prior to June 2024. One-month LIBOR was 5.22% and 4.39% as of June 30, 2023 and December 31, 2022, respectively.

Principal outstanding at June 30, 2023, is expected to be repayable as follows:
Year(in thousands)
2023$38,474 
2024818,278 
202559,043 
2026266,375 
2027182,435 
Thereafter475,101 
Total$1,839,706 
Virtually all of the above debt requires ongoing compliance with certain financial covenants, including debt/equity ratios, minimum tangible net worth and minimum interest coverage ratios, and other eligibility criteria including customer and geographic concentration restrictions. The Company also has certain negative financial covenants such as liens, advances, change in business, sales of assets, dividends and stock repurchases. These covenants are tested either monthly, quarterly or annually, and the Company was in full compliance with all financial covenant requirements at June 30, 2023.