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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES $ 509,668 $ 409,872 $ 995,528 $ 785,960
OPERATING EXPENSES        
Salaries, wages and benefits 162,797 141,524 324,559 283,540
Fuel 73,102 36,592 133,460 67,034
Maintenance, materials and repairs 39,407 45,913 75,116 87,920
Depreciation and amortization 81,372 75,633 163,443 146,684
Travel 28,480 18,501 52,679 36,905
Contracted ground and aviation services 20,153 18,794 38,484 33,597
Rent 7,068 5,726 13,731 11,594
Landing and ramp 4,085 3,026 8,663 6,135
Insurance 2,326 3,068 4,878 6,204
Other operating expenses 20,361 14,750 40,204 31,173
government grants continuing operations 0 (38,274) 0 66,304
Operating Expenses 439,151 325,253 855,217 644,482
OPERATING INCOME 70,517 84,619 140,311 141,478
OTHER INCOME (EXPENSE)        
Interest income 15 9 24 28
Non-service component of retiree benefit costs 5,388 4,456 10,776 8,913
Write off of Deferred Debt Issuance Cost 0 (6,505) 0 (6,505)
Non-service component of retiree benefit (costs) gains (9,461) (15,021) (20,860) (29,543)
Net gain on financial instruments 6,011 35,703 8,707 45,175
Other Nonoperating Income (Expense) (1,267) 19,607 (5,976) 17,850
EARNINGS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 69,250 104,226 134,335 159,328
INCOME TAX EXPENSE   (24,357) (30,329) (37,169)
EARNINGS FROM CONTINUING OPERATIONS 54,210 79,869 104,006 122,159
EARNINGS (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAXES 882   882 65
NET EARNINGS $ 55,092 $ 79,934 $ 104,888 $ 122,224
BASIC EARNINGS PER SHARE        
Basic earnings per share from continuing operations (in dollars per share) $ 0.73 $ 1.17 $ 1.41 $ 1.91
Discontinued operations (in dollars per share) 0.01 0 0.01 0
TOTAL BASIC EARNINGS PER SHARE (in dollars per share) 0.74 1.17 1.42 1.91
DILUTED EARNINGS PER SHARE        
Diluted earnings per share from continuing operations (in dollars per share) 0.61 0.74 1.18 1.23
Discontinued operations (in dollars per share) 0.01 0 0.01 0
TOTAL DILUTED NET EARNINGS PER SHARE (in dollars per share) $ 0.62 $ 0.74 $ 1.19 $ 1.23
WEIGHTED AVERAGE SHARES        
Basic (in shares) 73,980 68,206 73,934 63,851
Diluted (in shares) 89,449 72,964 89,098 73,849
Significant Reconciling Items [Member]        
OTHER INCOME (EXPENSE)        
Non-service component of retiree benefit (costs) gains $ (574) $ (870) $ (881) $ (1,624)
Loss from non-consolidated affiliates $ (3,220) $ 965 $ (4,623) $ (218)