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Long-Term Debt
9 Months Ended
Sep. 30, 2017
Long-Term Debt  
Long-Term Debt

Note 8 — Long-Term Debt

 

Long-term debt consisted of the following as of September 30, 2017 and December 31, 2016 (in thousands):

 

 

 

 

 

 

 

 

 

September 30, 2017

 

 

December 31, 2016

Current portion of long-term debt

$

307,032

 

$

308,945

Current portion of unamortized debt issue cost, net

 

(3,609)

 

 

(3,485)

Current portion of long-term debt, net of debt issue costs

$

303,423

 

$

305,460

 

 

 

 

 

 

Long-term debt, net of current maturities

$

2,402,996

 

$

2,261,959

Long-term portion of unamortized debt issue cost, net

 

(22,204)

 

 

(21,908)

Long-term debt, net of current maturities and debt issue costs

$

2,380,792

 

$

2,240,051

 

 

 

 

 

 

Total long-term debt (including current portion)

$

2,710,028

 

$

2,570,904

Total unamortized debt issue cost, net

 

(25,813)

 

 

(25,393)

Total long-term debt, net of debt issue costs

$

2,684,215

 

$

2,545,511

 

 

During the nine months ended September 30, 2017, the Company took delivery of 18 E175 aircraft, which the Company financed through $384.8 million of long-term debt.  The debt associated with the E175 aircraft delivered during the nine months ended September 30, 2017 has a twelve-year term, is due in quarterly installments with a fixed annual interest rate ranging from 4.3% to 4.7% and is secured by the E175 aircraft.

 

As of September 30, 2017 and December 31, 2016, the Company had $85.2 million in letters of credit and surety bonds outstanding with various banks and surety institutions.