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LONG-TERM DEBT (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-term debt obligations on the condensed consolidated balance sheets (in millions):
| March 31, 2024 |  | December 31, 2023
Fixed-rate notes payable due through 2029 | $ | 73 |  |  | $ | 80 |
Fixed-rate PSP notes payable due through 2031 | 600 |  |  | 600 |
Fixed-rate EETC payable due through 2025 & 2027 | 779 |  |  | 835 |
Variable-rate notes payable due through 2036 | 1,128 |  |  | 971 |
Less debt issuance costs | (15) |  |  | (15) |
Total debt | 2,565 |  |  | 2,471 |
Less current portion(a) | 301 |  |  | 289 |
Long-term debt, less current portion | $ | 2,264 |  |  | $ | 2,182 |
Weighted-average fixed-interest rate | 3.3 | % |  | 3.4 | %
Weighted-average variable-interest rate | 6.8 | % |  | 6.8 | %
(a) Excludes finance lease liabilities recognized within Current portion of long-term debt and finance leases in the condensed consolidated balance sheets as of December 31, 2023.
Schedule of Maturities of Long-term Debt | At March 31, 2024, long-term debt principal payments for the next five years and thereafter are as follows (in millions):
| Total
Remainder of 2024 | $ | 201 |
2025 | 365 |
2026 | 322 |
2027 | 646 |
2028 | 131 |
Thereafter | 915 |
Total Principal Payments | $ | 2,580 |

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