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Financial Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Volume of Fuel Hedging The Company is providing the following information about the Company’s volume of fuel hedged on an economic basis:
Maximum fuel hedged as of
March 31, 2025Derivative underlying commodity type as of
Period (by year)(gallons in millions) (a)March 31, 2025
Remainder of 2025775 Brent crude oil
2026945 Brent crude oil
2027277 Brent crude oil
(a) Due to the types of derivatives utilized by the Company and different price levels of those contracts, these volumes represent the maximum economic hedge in place and may vary significantly as market prices fluctuate and if the Company's published flight schedule or capacity plans change.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table presents the location of all assets and liabilities associated with the Company’s derivative instruments within the unaudited Condensed Consolidated Balance Sheet:
  Asset derivatives
 Balance SheetFair value atFair value at
(in millions)location3/31/202512/31/2024
Derivatives designated as hedges (a)   
Fuel derivative contracts (gross)Prepaid expenses and other current assets$21 $22 
Fuel derivative contracts (gross)Other assets71 108 
Total derivatives designated as hedges$92 $130 
(a) Represents the position of each trade before consideration of offsetting positions with each counterparty and does not include the impact of cash collateral deposits provided to or received from counterparties. See discussion of credit risk and collateral following in this Note.
Schedule of Offsetting Assets
In addition, the Company had the following amounts associated with fuel derivative instruments and hedging activities in its unaudited Condensed Consolidated Balance Sheet:

 Balance SheetMarch 31,December 31,
(in millions)location20252024
Cash collateral deposits held from counterparties for fuel contracts - currentOffset against Prepaid expenses and other current assets$— $4 
Cash collateral deposits held from counterparties for fuel contracts - noncurrentOffset against Other assets— 18 
Receivable from third parties for fuel contractsAccounts and other receivables— 1 
The Company had the following recognized financial assets and financial liabilities resulting from those transactions that meet the scope of the disclosure requirements as necessitated by applicable accounting guidance for balance sheet offsetting:
Offsetting of derivative assets
(in millions)
(i)(ii)(iii) = (i) + (ii)(i)(ii)(iii) = (i) + (ii)
March 31, 2025December 31, 2024
DescriptionBalance Sheet locationGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance SheetGross amounts of recognized assetsGross amounts offset in the Balance SheetNet amounts of assets presented in the Balance Sheet
Fuel derivative contractsPrepaid expenses and other current assets$21 $— $21 $22 $(4)$18 
Fuel derivative contractsOther assets$71 $— $71 (a)$108 $(18)$90 (a)
(a) The net amounts of derivative assets and liabilities are reconciled to the individual line item amounts presented in the unaudited Condensed Consolidated Balance Sheet in Note 8.
Schedule of Offsetting Liabilities
Offsetting of derivative liabilities
(in millions)
(i)(ii)(iii) = (i) + (ii)(i)(ii)(iii) = (i) + (ii)
March 31, 2025December 31, 2024
DescriptionBalance Sheet locationGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance SheetGross amounts of recognized liabilitiesGross amounts offset in the Balance SheetNet amounts of liabilities presented in the Balance Sheet
Fuel derivative contractsPrepaid expenses and other current assets$— $— $— $4 $(4)$— 
Fuel derivative contractsOther assets$— $— $— 
(a)
$18 $(18)$— 
(a)
(a) The net amounts of derivative assets and liabilities are reconciled to the individual line item amounts presented in the unaudited Condensed Consolidated Balance Sheet in Note 8.
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following tables present the impact of derivative instruments and their location within the unaudited Condensed Consolidated Statement of Comprehensive Loss for the three months ended March 31, 2025 and 2024:

Location and amount recognized in income on cash flow hedging relationships
Three months ended March 31, 2025Three months ended March 31, 2024
(in millions)Fuel and oilOther operating expensesFuel and oilOther operating expenses
Total$38 $1 $22 $2 
Loss on cash flow hedging relationships
Commodity contracts:
Amount of loss reclassified from AOCI into income38 — 22 — 
Other:
Amount of loss reclassified from AOCI into income— 1 — 2 
Derivatives designated and qualified in cash flow hedging relationships
 (Gain) loss recognized in AOCI on derivatives, net of tax
 Three months ended
 March 31,
(in millions)20252024
Fuel derivative contracts$29 $(1)
Schedule of Derivative Instruments, Gain (Loss)
Derivatives not designated as hedges
 (Gain) loss recognized in income on derivatives 
  
 Three months endedLocation of (gain) loss recognized in income on derivatives
 March 31,
(in millions)20252024
Fuel derivative contracts$— $1 Other (gains) losses, net
Schedule of Premiums Paid for Fuel Derivative Contracts The following table presents the impact of premiums paid for fuel derivative contracts and their location within the unaudited Condensed Consolidated Statement of Comprehensive Loss during the period the contract settles:
 Premium expense recognized in income on derivatives  
  
 Three months endedLocation of premium expense recognized in income on derivatives
 March 31,
(in millions)20252024
Fuel derivative contracts designated as hedges$37 $39 Fuel and oil
Schedule of Fair Values of Fuel Derivatives, Amounts Posted as Collateral, and Collateral Posting Threshold Amounts
The following table provides the fair values of fuel derivatives and applicable collateral posting threshold amounts as of March 31, 2025, at which such postings are triggered:

 Counterparty (CP) 
(in millions)ABCDEFG
H
I
Total
Fair value of fuel derivatives$22 $12 $13 $7 $9 $8 $8 $10 $3 $92 
Option to substitute LC for cashN/AN/A
 (a)
 (a)

 (a)
N/A
 (a)
N/A(a) 
If credit rating is investment
grade, fair value of fuel
derivative level at which:		     
Cash is provided to CP
>(100)
>(50)
>(75)
>(125)

>(40)
>(65)
>(100)
>(100)
(b) (d)  
Cash is received from CP
>0(b)
>150(b)
>250(b)
>125(b)
>100(b)
>70(b)
>100(b)
>100(b)
(b) (d)  
If credit rating is non-investment
grade, fair value of fuel derivative level at which:		     
Cash is received from CP
 (c)
 (c)
 (c)
 (c)
 (c)
 (c)
 (c)
(c)
(c) 
(a) The Company has the option to substitute letters of credit for 100 percent of cash collateral requirement.
(b) Thresholds may vary based on changes in credit ratings within investment grade.
(c) Cash collateral is provided at 100 percent of fair value of fuel derivative contracts.
(d) Cash collateral is not required based on the current credit rating.