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Subsequent events

12 Months Ended

Dec. 31, 2020

29.	Subsequent events

Stock Grants

During the first quarter of 2021, the Compensation Committee of the Company’s Board of Directors approved two awards. Awards under these plans will grant approximately 136,654 shares of

non-vested

stock, which will vest over a period of three to five years. The Company estimates the fair value of these awards to be approximately $11.5 million and the 2021 compensation cost for these plans will be $5.7 million.

Compensation Boeing

During the first quarter of 2021, the Company reached an agreement with Boeing regarding compensation related to the Boeing 737 MAX grounding. As part of the agreement, the Company will receive compensation in the form of certain credits concurrent with future aircraft deliveries and other considerations, including a revised delivery stream.

The updated aircraft contractual obligations net of discounts and

pre-delivery

payments, including estimated amounts for contractual price escalation as March,31 2021, are as follows:


Year ending December 31, 2021		49,800
2022		187,882
2023		383,231
2024		421,271
2025		487,348
Thereafter		1,893,442

	$3,422,974

During the first quarter of 2021, six Boeing 737 MAX aircraft were delivered.