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Long-term Debt | 12 Months Ended
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Dec. 31, 2012
Long-term Debt |
Long-term Debt | (3) Long-term Debt Long-term debt consisted of the following as of December 31, 2012 and 2011 (in thousands):
|  | December 31, 2012 |  | December 31, 2011 |
--- | --- | --- | --- | --- | ---
Notes payable to banks, due in semi-annual installments, variable interest based on LIBOR, or with interest rates ranging from 1.34% to 2.55% through 2013 to 2020, secured by aircraft |  | $ | 273,515 |  | $ | 364,741 |
Notes payable to a financing company, due in semi-annual installments, variable interest based on LIBOR, or with interest rates ranging from 0.70% to 2.36% through 2013 to 2021, secured by aircraft |  |  | 434,716 |  |  | 477,241 |
Notes payable to banks, due in semi-annual installments plus interest at 6.06% to 7.18% through 2021, secured by aircraft |  |  | 168,937 |  |  | 193,197 |
Notes payable to a financing company, due in semi-annual installments plus interest at 5.78% to 6.23% through 2019, secured by aircraft |  |  | 39,548 |  |  | 53,803 |
Notes payable to banks, due in monthly installments plus interest of 3.15% to 8.18% through 2025, secured by aircraft |  |  | 665,867 |  |  | 706,463 |
Notes payable to banks, due in semi-annual installments, plus interest at 6.05% through 2020, secured by aircraft |  |  | 17,872 |  |  | 19,946 |
Notes payable to a bank, due in monthly installments interest based on LIBOR plus interest at 2.00% to 4.00% through 2016, secured by aircraft |  |  | 41,567 |  |  | — |
Long-term debt |  |  | 1,642,022 |  |  | 1,815,391 |
Less current maturities |  |  | (171,454 | ) |  | (208,398 | )
Long-term debt, net of current maturities |  |  | 1,470,568 |  |  | 1,606,993 |
As of December 31, 2012, the Company had $1.6 billion of long-term debt obligations related to the acquisition of CRJ200, CRJ700 and CRJ900 aircraft. The average effective interest rate on the debt related to the CRJ aircraft was approximately 4.5% at December 31, 2012. The aggregate amounts of principal maturities of long-term debt as of December 31, 2012 were as follows (in thousands):
2013 |  | $ | 171,454 |
2014 |  |  | 177,390 |
2015 |  |  | 184,510 |
2016 |  |  | 188,240 |
2017 |  |  | 161,735 |
Thereafter |  |  | 758,693 |
|  | $ | 1,642,022 |
As of December 31, 2012 and 2011, SkyWest Airlines had a $25 million line of credit. As of December 31, 2012 and 2011, SkyWest Airlines had no amount outstanding under the facility. The facility expires on March 31, 2013 and has a fixed interest rate of 4.0%. As of December 31, 2012, the Company had $75.1 million in letters of credit and surety bonds outstanding with various banks and surety institutions. As of December 31, 2012, the Company was in compliance with all debt covenants.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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