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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES $ 409,872 $ 377,794 $ 785,960 $ 767,071
OPERATING EXPENSES        
Salaries, wages and benefits 141,524 119,503 283,540 245,034
Fuel 36,592 36,787 67,034 80,586
Maintenance, materials and repairs 45,913 43,704 87,920 85,381
Depreciation and amortization 75,633 68,291 146,684 137,633
Travel 18,501 17,315 36,905 38,972
Contracted ground and aviation services 18,794 13,546 33,597 27,895
Rent 5,726 5,198 11,594 8,684
Landing and ramp 3,026 2,772 6,135 5,517
Insurance 3,068 2,508 6,204 4,176
Other operating expenses 14,750 15,738 31,173 30,954
government grants continuing operations (38,274) (9,821) (66,304) (9,821)
Operating Expenses 325,253 354,616 644,482 694,086
OPERATING INCOME 84,619 23,178 141,478 72,985
OTHER INCOME (EXPENSE)        
Interest income 9 12 28 124
Non-service component of retiree benefit costs 4,456 2,898 8,913 5,796
Write off of Deferred Debt Issuance Cost (6,505) 0 (6,505) 0
Non-service component of retiree benefit gains (15,021) (16,045) (29,543) (32,368)
Net gain (loss) on financial instruments 35,703 (109,723) 45,175 (2,679)
Other Nonoperating Income (Expense) 19,607 (129,371) 17,850 (38,404)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 104,226 (106,193) 159,328 34,581
INCOME TAX BENEFIT (EXPENSE)   1,031 (37,169) (6,010)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 79,869 (105,162) 122,159 28,571
EARNINGS (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES 65 236 65 4,008
NET EARNINGS (LOSS) $ 79,934 $ (104,926) $ 122,224 $ 32,579
BASIC EARNINGS PER SHARE        
Basic earnings per share from continuing operations (in dollars per share) $ 1.17 $ (1.78) $ 1.91 $ 0.48
Discontinued operations (in dollars per share) 0 0.01 0 0.07
TOTAL BASIC EARNINGS PER SHARE (in dollars per share) 1.17 (1.77) 1.91 0.55
DILUTED EARNINGS PER SHARE        
Diluted earnings per share from continuing operations (in dollars per share) 0.74 (1.78) 1.23 0.14
Discontinued operations (in dollars per share) 0 0.01 0 0.05
TOTAL DILUTED NET EARNINGS PER SHARE (in dollars per share) $ 0.74 $ (1.77) $ 1.23 $ 0.19
WEIGHTED AVERAGE SHARES        
Basic (in shares) 68,206 59,130 63,851 59,085
Diluted (in shares) 72,964 59,130 73,849 68,104
Asset Impairment Charges $ 0 $ 39,075 $ 0 $ 39,075
Significant Reconciling Items [Member]        
OTHER INCOME (EXPENSE)        
Non-service component of retiree benefit gains (870) (681) (1,624) (1,336)
Loss from non-consolidated affiliates $ 965 $ (6,513) $ (218) $ (9,277)