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LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Long-term debt obligations on the unaudited Condensed Consolidated Balance Sheets (in millions):
| June 30, 2024 |  | December 31, 2023
Fixed-rate notes payable due through 2029 | $ | 68 |  |  | $ | 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 | 1,239 |  |  | 971 |
Less debt issuance costs | (14) |  |  | (15) |
Total debt | 2,672 |  |  | 2,471 |
Less current portion(a) | (359) |  |  | (289) |
Long-term debt, less current portion | $ | 2,313 |  |  | $ | 2,182 |
Weighted-average fixed-interest rate | 3.3 | % |  | 3.4 | %
Weighted-average variable-interest rate | 6.9 | % |  | 6.8 | %
(a) Excludes finance lease liabilities recognized within Current portion of long-term debt and finance leases in the unaudited Condensed Consolidated Balance Sheets as of December 31, 2023.
Schedule of Maturities of Long-term Debt | At June 30, 2024, long-term debt principal payments for the next five years and thereafter are as follows (in millions):
| Total
Remainder of 2024 | $ | 164 |
2025 | 385 |
2026 | 342 |
2027 | 666 |
2028 | 176 |
Thereafter | 953 |
Total Principal Payments | $ | 2,686 |

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