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DEBT (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | Debt obligations on the unaudited condensed consolidated balance sheets:
(in millions) | March 31, 2025 |  | December 31, 2024
Fixed-rate notes payable due through 2029 | $ | 51 |  |  | $ | 56 |
Fixed-rate PSP notes payable due through 2031 | 689 |  |  | 688 |
Fixed-rate EETCs payable due through 2027 | 800 |  |  | 864 |
Fixed-rate Japanese Yen denominated notes payable due through 2031 | 61 |  |  | 88 |
Variable-rate notes payable due through 2037 | 1,253 |  |  | 1,283 |
Loyalty financing, variable-rate term loan facility due through 2031 | 748 |  |  | 750 |
Loyalty financing, fixed-rate notes due through 2031 | 1,250 |  |  | 1,250 |
Less debt issuance costs | (43) |  |  | (46) |
Total debt | 4,809 |  |  | 4,933 |
Less current portion | 519 |  |  | 442 |
Long-term debt, less current portion | $ | 4,290 |  |  | $ | 4,491 |
Weighted-average fixed-interest rate | 3.9 | % |  | 3.9 | %
Weighted-average variable-interest rate | 6.0 | % |  | 6.3 | %
Schedule of Maturities of Long-term Debt | At March 31, 2025, debt principal payments for the next five years and thereafter are as follows:
(in millions) | Total
Remainder of 2025 | $ | 307 |
2026 | 503 |
2027 | 701 |
2028 | 211 |
2029 | 777 |
Thereafter | 2,381 |
Total Principal Payments(a) | $ | 4,880 |
(a) The Company recognized the long-term debt assumed in the Hawaiian acquisition at fair value as of the acquisition date. As a result, the amount in the unaudited condensed consolidated balance sheets will not equal the total balance of remaining principal payments presented in this table.

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