Leases, Commitments, Guarantees and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

Leases, Commitments, Guarantees and Contingencies

Summary of related terms and discount rates

	As of June 30, 2022
Weighted-average remaining lease term for operating leases	6.3 years
Weighted-average discount rate for operating leases	6.0%

Summary of lease costs

The Company’s lease costs for the three and six months ended June 30, 2022 and 2021 included the following components (in thousands):

	For the three months ended June 30,				For the six months ended June 30,
	2022		2021		2022		2021
Operating lease cost	$	21,822	$	22,085	$	43,663	$	44,211
Variable and short-term lease cost		805		1,056		1,822		2,280
Sublease income		(1,845)		(1,493)		(3,648)		(2,829)
Total lease cost	$	20,782	$	21,648	$	41,837	$	43,662

Schedule of future minimum rental payments for operating leases

The following table summarizes future minimum rental payments primarily related to leased aircraft required under operating leases that had initial or remaining non-cancelable lease terms as of June 30, 2022 (in thousands):

July 2022 through December 2022	$	45,893
2023		76,189
2024		32,796
2025		17,570
2026		15,491
Thereafter		72,850
	$	260,789

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		Jul - Dec 2022		2023		2024		2025		2026		Thereafter
Operating lease payments for aircraft and facility obligations	$	260,789	$	45,893	$	76,189	$	32,796	$	17,570	$	15,491	$	72,850
Firm aircraft and spare engine commitments		471,924		425,905		46,019		—		—		—		—
Interest commitments (1)		496,915		62,331		111,522		93,886		75,297		57,720		96,159
Principal maturities on long-term debt		3,320,191		219,437		436,307		432,701		500,677		455,898		1,275,171
Total commitments and obligations	$	4,549,819	$	753,566	$	670,037	$	559,383	$	593,544	$	529,109	$	1,444,180

(1) At June 30, 2022, the Company’s long-term debt had fixed interest rates.