Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2019

Long-Term Debt

Schedule of long-term debt

Long-term debt consisted of the following as of December 31, 2019 and 2018 (in thousands):

	December 31,		December 31,
	2019		2018
Notes payable to banks, due in semi-annual installments, variable interest based on LIBOR, or with an interest rate of 4.00% through 2019, secured by aircraft	$	—	$	6,429
Notes payable to a financing company, due in semi-annual installments, with a fixed interest rate of 3.25% through 2021, secured by aircraft		18,412		36,324
Notes payable to banks, due in semi-annual installments plus interest at 6.10% to 6.51% through 2021, secured by aircraft		22,557		41,592
Notes payable to banks, due in monthly installments, plus interest at 1.95% to 6.86% through 2029, secured by aircraft		438,878		476,369
Notes payable to banks, due in quarterly installments, plus interest at 3.39% to 5.08% through 2031, secured by aircraft		2,537,676		2,621,416
Notes payable to banks due in monthly installments, interest at 3.30% through 2019, secured by spare engines		—		3,308
Long-term debt	$	3,017,523	$	3,185,438
Current portion of long-term debt		(367,954)		(354,072)
Less long-term portion of unamortized debt issue cost, net		(20,580)		(21,598)
Long-term debt, net of current maturities and debt issue costs	$	2,628,989	$	2,809,768
Current portion of long-term debt		367,954		354,072
Less current portion of unamortized debt issue cost, net		(3,828)		(3,866)
Current portion of long-term debt, net of debt issue costs	$	364,126	$	350,206

Schedule of maturities of long-term debt

The aggregate amounts of principal maturities of long-term debt as of December 31, 2019 were as follows (in thousands):

2020	$	367,954
2021		352,005
2022		365,907
2023		374,906
2024		327,630
Thereafter		1,229,121
	$	3,017,523