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DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Summary of Long-Term Debt

(In millions)						Maturity Dates												Interest Rate(s) at December 31, 2024												At December 31,
																														2024						2023
Equipment Notes (a)						2025			—			2037						2.70		%	—			6.51		%				$	12,983					$	12,508
MileagePlus Senior Secured Notes									2027												6.50%									1,900						2,660
MileagePlus Term Loan Facility									n/a												n/a									—						2,100
2026 and 2029 Notes						2026			—			2029						4.38		%	—			4.63		%				4,000						4,000
2021 Term Loans									n/a												n/a									—						3,870
2024 Term Loans (b)									2031												6.63%									2,082						—
Unsecured
Notes									2025												4.88%									315						596
PSP Notes (c)						2030			—			2031									1.00%									3,181						3,181
Other unsecured debt						2027			—			2029						4.00		%	—			5.75		%				376						437
																														24,837						29,352
Less: unamortized debt discount, premiums and debt issuance costs																														(184)						(277)
Less: current portion of long-term debt																														(2,973)						(4,018)
Long-term debt, net																														$	21,680					$	25,057
(a)Financing includes variable rate debt based on the Secured Overnight Financing Rate ("SOFR") (or another index rate), generally subject to a floor, plus a specified margin of 0.64% to 2.00%. (b)Financing includes variable rate debt based on SOFR (or another index rate), subject to a floor, plus a specified margin of 2.00%. (c)The PSP Notes include $1.50 billion of indebtedness evidenced by a 10-year senior unsecured promissory note with Treasury provided under PSP, $0.9 billion of indebtedness evidenced by a 10-year senior unsecured promissory note issued to Treasury pursuant to PSP2 and $0.8 billion of indebtedness evidenced by a 10-year senior unsecured promissory note issued to Treasury pursuant to PSP3. These PSP Notes have a rate of 1.00% in years 1 through 5, and a rate of the SOFR plus 2.00% in years 6 through 10.

Contractual Principal Payments under Outstanding Long-Term Debt Agreements

The table below presents the Company's contractual principal payments (not including debt discount or debt issuance costs) as of December 31, 2024 under then-outstanding long-term debt agreements (in millions):

						2025						2026						2027						2028						2029						After 2029						Total
Contractual principal payments						$	2,973					$	4,793					$	2,326					$	1,791					$	2,892					$	10,062					$	24,837

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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