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SUBSEQUENT EVENT
9 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENT

On October 31, 2016, the Company entered into a term loan agreement providing for loans to the Company aggregating up to $215 million, to be secured by mortgages on seven of the Company's 737-800 aircraft. The Company has borrowed the full $215 million and secured this loan with the requisite seven aircraft mortgages. The loan matures on October 31, 2026, and is being repaid via semi-annual installments of principal that begin April 30, 2018. The loan bears interest at the LIBOR (as defined in the term loan agreement) plus 1.10 percent, which equates to an initial rate of 2.359 percent, and interest is payable semi-annually in installments that begin April 30, 2017.