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ACQUISITION OF HAWAIIAN HOLDINGS, INC. (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination, Recognized Asset Acquired and Liability Assumed | Provisional fair values of the assets acquired and the liabilities assumed as of the acquisition date, September 18, 2024, as of March 31, 2025 and December 31, 2024 were as follows:
(in millions) | March 31, 2025 and December 31, 2024 |  |
Cash and cash equivalents | $ | 286 |  |  |
Restricted cash | 27 |  |  |
Marketable securities | 674 |  |  |
Receivables | 110 |  |  |
Inventories and supplies | 75 |  |  |
Prepaid expenses and other | 77 |  |  |
Property and equipment | 1,947 |  |  |
Operating lease assets | 228 |  |  |
Intangible assets | 799 |  |  |
Goodwill | 781 |  |  |
Other noncurrent assets | 97 |  |  |
Total assets | 5,101 |  |  |
Accounts payable | 57 |  |  |
Air traffic liability | 513 |  |  |
Other accrued liabilities | 331 |  |  |
Deferred revenue - current | 229 |  |  |
Current portion of operating lease liabilities | 65 |  |  |
Current portion of long-term debt and finance leases | 144 |  |  |
Long-Term Debt, net of current portion | 1,932 |  |  |
Long-term operating lease liabilities, net of current portion | 234 |  |  |
Deferred income taxes | 90 |  |  |
Deferred revenue - noncurrent | 308 |  |  |
Obligations for pension and post-retirement medical benefits | 153 |  |  |
Other liabilities | 68 |  |  |
Total liabilities | 4,124 |  |  |
Total purchase price | $ | 977 |  |  |
Business Combination, Pro Forma Information | The pro forma information includes adjustments for merger-related costs of $267 million assumed to have been incurred on January 1, 2023.
| Three Months Ended March 31, |  |
(in millions) | 2025 Pro Forma |  | 2024 Pro Forma |  |  |  |
Revenue | $ | 3,137 |  |  | $ | 2,877 |  |  |  |  |
Net loss | (138) |  |  | (267) |  |  |  |  |

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