Leases, Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Leases, Commitments and Contingencies

Summary of related terms and discount rates

	As of March 31, 2021
Weighted-average remaining lease term for operating leases	6.4 years
Weighted-average discount rate for operating leases		6.1%

Summary of lease costs

The Company’s lease costs for the three months ended March 31, 2021 and 2020 included the following components (in thousands):

	For the three months ended March 31,
	2021		2020
Operating lease cost	$	22,127	$	25,018
Variable and short-term lease cost		1,224		1,344
Sublease income		(1,335)		(1,571)
Total lease cost	$	22,016	$	24,791

Schedule of future minimum rental payments for operating leases

April 2021 through December 2021	$	70,255
2022		79,112
2023		72,153
2024		29,274
2025		16,725
Thereafter		83,239
	$	350,758

Summary of commitments and obligations

The following table summarizes the Company’s commitments and obligations as noted for each of the next five years and thereafter (in thousands):

	Total		Apr - Dec 2021		2022		2023		2024		2025		Thereafter
Operating lease payments for aircraft and facility obligations	$	350,758	$	70,255	$	79,112	$	72,153	$	29,274	$	16,725	$	83,239
Firm aircraft and spare engine commitments		555,458		499,306		56,152		—		—		—		—
Interest commitments (1)		522,585		90,454		106,979		89,228		73,056		57,835		105,033
Principal maturities on long-term debt		3,140,774		271,082		407,226		417,720		371,994		446,924		1,225,828
Total commitments and obligations	$	4,569,575	$	931,097	$	649,469	$	579,101	$	474,324	$	521,484	$	1,414,100

(1) At March 31, 2021, 98.1% of the Company’s total long-term debt had fixed interest rates.