Flying Agreements Revenue and Lease, Airport Services and Other Revenues (Tables)

3 Months Ended

Mar. 31, 2023

Agreements with other airlines

Schedule of revenue by type

The following table represents the Company’s flying agreements revenue by type for the three months ended March 31, 2023 and 2022 (in thousands):

	For the three months ended March 31,
	2023		2022
Capacity purchase agreements flight operations revenue (non-lease component)	$	468,916	$	504,808
Capacity purchase agreements fixed aircraft lease revenue		74,480		124,085
Capacity purchase agreements variable aircraft lease revenue		43,105		—
Prorate agreements revenue		77,337		79,170
Flying agreements revenue	$	663,838	$	708,063

Schedule of aircraft and agreements with major airline partners

United Express Agreements
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
United Express Agreements (capacity purchase agreement)	• E175 • CRJ 700 • CRJ 200	90 19 70	• Individual aircraft have scheduled removal dates from 2024 to 2029
United Express Prorate Agreement (prorate agreement)	• CRJ 200	25*	• Terminable with 120-days’ notice
Total under United Express Agreements		204

Delta Connection Agreements
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
Delta Connection Agreement (capacity purchase agreement)	• E175 • CRJ 900 • CRJ 700	84 35 5	• Individual aircraft have scheduled removal dates from 2023 to 2033
Delta Connection Prorate Agreement (prorate agreement)	• CRJ 900 • CRJ 200	1* 21*	• Terminable with 30-days’ notice
Total under Delta Connection Agreements		146

American Capacity Purchase Agreement
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
American Agreement (capacity purchase agreement)	• E175 • CRJ 700	20 79	• Individual aircraft have scheduled removal dates from 2024 to 2032
Total under American Agreement		99

Alaska Capacity Purchase Agreement
Agreement	Aircraft type	Number of Aircraft	Term / Termination Dates
Alaska Agreement (capacity purchase agreement)	• E175	42	• Individual aircraft have scheduled removal dates from 2030 to 2034

Schedule of future minimum rental payments for operating leases

April 2023 through December 2023	$	14,586
2024		22,180
2025		16,517
2026		13,436
2027		12,293
Thereafter		54,321
Total future minimum operating lease payments	$	133,333

Schedule of allowance for credit losses

The following table summarizes the changes in allowance for credit losses:

	Allowance for Credit Losses
Balance at December 31, 2022	$	37,385
Adjustments to credit loss reserves		(631)
Write-offs charged against allowance		(3,570)
Balance at March 31, 2023	$	33,184

Airport customer service and other

Agreements with other airlines

Schedule of revenue by type

The following table represents the Company’s lease, airport services and other revenues for the three months ended March 31, 2023 and 2022 (in thousands):

	For the three months ended March 31,
	2023		2022
Operating lease revenue	$	16,560	$	16,555
Airport customer service and other revenue		11,433		10,534
Lease, airport services and other	$	27,993	$	27,089

Aircraft

Agreements with other airlines

Schedule of details of agreements with other airlines

	For the three months ended March 31,
	2023		2022
Operating lease revenue	$	16,560	$	16,555
Airport customer service and other revenue		11,433		10,534
Lease, airport services and other	$	27,993	$	27,089

The following table summarizes future minimum rental income under operating leases primarily related to leased aircraft and engines that had remaining non-cancelable lease terms as of March 31, 2023 (in thousands):

April 2023 through December 2023	$	34,183
2024		45,441
2025		40,470
2026		34,904
2027		34,882
Thereafter		86,244
Total future minimum rental income under operating leases	$	276,124