Note 6 — Commitments and Contingencies

As of March 31, 2018, the Company leased aircraft, airport facilities, office space, and other property and equipment under non-cancelable operating leases which are generally on a long-term, triple net lease basis pursuant to which the Company pays taxes, maintenance, insurance and certain other operating expenses applicable to the leased property. The Company expects that, in the normal course of business, such operating leases that expire will be renewed or replaced by other leases, or the property may be purchased rather than leased. The following table summarizes future minimum rental payments primarily related to aircraft required under operating leases that had initial or remaining non-cancelable lease terms as of March 31, 2018 (in thousands):


March through December 2018	$	85,825
2019		85,563
2020		101,523
2021		93,118
2022		75,178
Thereafter		159,347
	$	600,554

As of March 31, 2018, the Company had a firm purchase commitment for 37 E175/E175 SC aircraft from Embraer, S.A. with scheduled delivery dates through the end of 2018 or early 2019 with the exception of three E175 aircraft that have been deferred until 2021.

The following table summarizes the Company’s commitments and obligations as noted for each of the next five years and thereafter (in thousands):


	Total		Mar - 2018		2019		2020		2021		2022		Thereafter
Operating lease payments for aircraft and facility obligations	$	600,554	$	85,825	$	85,563	$	101,523	$	93,118	$	75,178	$	159,347
Firm aircraft and spare engine commitments		979,269		861,041		21,200		10,600		86,428		—		—
Interest commitments(1)		538,046		81,995		98,247		84,169		71,193		59,263		143,179
Principal maturities on long-term debt		2,801,208		250,739		340,546		311,261		299,704		289,786		1,309,172
Total commitments and obligations	$	4,919,077	$	1,279,600	$	545,556	$	507,553	$	550,443	$	424,227	$	1,611,698

(1)

At March 31, 2018, the Company had variable rate notes representing 2.2% of its total long-term debt. Actual interest commitments will change based on the actual variable interest.