Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2021

Long-term Debt

Schedule of long-term debt

Long-term debt consisted of the following as of December 31, 2021 and 2020 (in thousands):

	December 31,		December 31,
	2021		2020
Notes payable to banks, due in quarterly installments, plus interest at 2.33% to 5.08% through 2033, secured by aircraft	$	2,535,827	$	2,618,777
Notes payable to banks, due in monthly or semi-annual installments, plus interest at 2.68% to 5.03% through 2031, secured by aircraft		404,471		424,407
Notes payable to US Government, interest due quarterly at 1.00% through 2025 and based on SOFR plus spread from 2025 through 2031, unsecured		200,640		105,210
Notes payable to US Government, interest due quarterly based on LIBOR plus interest spread currently at 3.22% through 2025, secured by parts and engines		—		60,000
Notes payable to bank, due in monthly installments interest based on LIBOR plus interest spread at 2.65% through 2021		—		13,795
Notes payable to banks, due in semi-annual installments plus interest at 6.24% to 6.51% through 2021, secured by aircraft		—		7,608
Notes payable to a financing company, due in semi-annual installments, with a fixed interest rate of 3.25% through 2021, secured by aircraft		—		6,205
Long-term debt	$	3,140,938	$	3,236,002
Current portion of long-term debt		(395,371)		(406,005)
Less long-term portion of unamortized debt issue cost, net		(28,147)		(28,459)
Long-term debt, net of current maturities and debt issue costs	$	2,717,420	$	2,801,538
Current portion of long-term debt		395,371		406,005
Less current portion of unamortized debt issue cost, net		(3,573)		(3,847)
Current portion of long-term debt, net of debt issue costs	$	391,798	$	402,158

Schedule of maturities of long-term debt

The aggregate amounts of principal maturities of long-term debt as of December 31, 2021 were as follows (in thousands):

2022	$	395,371
2023		403,091
2024		398,084
2025		413,846
2026		423,227
Thereafter		1,107,319
	$	3,140,938