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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES $ 465,955 $ 404,146 $ 1,251,915 $ 1,171,217
OPERATING EXPENSES        
Salaries, wages and benefits 148,074 128,608 431,614 373,642
Fuel 50,176 36,202 117,210 116,788
Maintenance, materials and repairs 43,751 48,767 131,671 134,148
Depreciation and amortization 77,751 67,974 224,435 205,607
Travel 24,928 20,254 61,833 59,226
Contracted ground and aviation services 21,620 19,840 55,217 47,735
Rent 5,807 5,137 17,401 13,821
Landing and ramp 4,027 3,378 10,162 8,895
Insurance 3,178 3,119 9,382 7,295
Other operating expenses 17,205 18,623 48,378 49,577
government grants continuing operations (30,322) (21,726) (96,626) (31,547)
Operating Expenses 366,195 330,176 1,010,677 1,024,262
OPERATING INCOME 99,760 73,970 241,238 146,955
OTHER INCOME (EXPENSE)        
Interest income 8 93 36 217
Non-service component of retiree benefit costs 4,457 2,897 13,370 8,693
Write off of Deferred Debt Issuance Cost 0 0 (6,505) 0
Non-service component of retiree benefit gains (14,459) (15,440) (44,002) (47,808)
Net gain (loss) on financial instruments (7,378) (53,393) 37,797 (56,072)
Other Nonoperating Income (Expense) (18,519) (68,328) (669) (106,732)
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 81,241 5,642 240,569 40,223
INCOME TAX EXPENSE   (11,387) (56,047) (17,397)
EARNINGS (LOSS) FROM CONTINUING OPERATIONS 62,363 (5,745) 184,522 22,826
EARNINGS (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES 2,309 154 2,374 4,162
NET EARNINGS (LOSS) $ 64,672 $ (5,591) $ 186,896 $ 26,988
BASIC EARNINGS PER SHARE        
Basic earnings per share from continuing operations (in dollars per share) $ 0.85 $ (0.10) $ 2.75 $ 0.39
Discontinued operations (in dollars per share) 0.03 0.01 0.03 0.07
TOTAL BASIC EARNINGS PER SHARE (in dollars per share) 0.88 (0.09) 2.78 0.46
DILUTED EARNINGS PER SHARE        
Diluted earnings per share from continuing operations (in dollars per share) 0.81 (0.10) 2.14 0.38
Discontinued operations (in dollars per share) 0.03 0.01 0.03 0.07
TOTAL DILUTED NET EARNINGS PER SHARE (in dollars per share) $ 0.84 $ (0.09) $ 2.17 $ 0.45
WEIGHTED AVERAGE SHARES        
Basic (in shares) 73,721 59,146 67,177 59,106
Diluted (in shares) 76,743 59,146 75,277 59,863
Asset Impairment Charges $ 0 $ 0 $ 0 $ 39,075
Significant Reconciling Items [Member]        
OTHER INCOME (EXPENSE)        
Non-service component of retiree benefit gains (371) (797) (1,995) (2,133)
Loss from non-consolidated affiliates $ (1,147) $ (2,485) $ (1,365) $ (11,762)