Summary of Financial Statement Preparation and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Depreciable Lives

Depreciable lives are summarized as follows:

Boeing 777, 767 and 757 aircraft, Airbus A321 aircraft and flight equipment	7 to 18 years
Ground equipment	2 to 10 years
Leasehold improvements, facilities and office equipment	3 to 25 years

Property and equipment, to be held and used, is summarized as follows (in thousands):

	December 31, 2023		December 31, 2022
Flight equipment	$	3,865,049	$	3,506,134
Ground equipment	72,463		70,092
Leasehold improvements, facilities and office equipment	42,120		40,183
Aircraft modifications and projects in progress	638,631		445,633
	4,618,263		4,062,042
Accumulated depreciation	(1,797,494)		(1,659,634)
Property and equipment, net	$	2,820,769	$	2,402,408

Accounting Standards Update and Change in Accounting Principle

The Company adopted ASU 2020-06 on January 1, 2022 using the modified retrospective approach which resulted in the following adjustments:

(in thousands)	December 31, 2021		Adoption of ASU 2020-06		January 1, 2022
Balance Sheet line item:
Principal value	$	(258,750)	$	—	$	(258,750)
Unamortized issuance cost	$	2,889	$	—	$	2,889
Unamortized discount	$	24,215	$	(24,215)	$	—
Convertible Debt	$	(231,646)	$	(24,215)	$	(255,861)
Net deferred tax liability	$	(217,291)	$	5,527	$	(211,764)
Additional paid-in capital	$	(1,074,286)	$	39,559	$	(1,034,727)
Retained earnings	$	(309,430)	$	(20,871)	$	(330,301)