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Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2018
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of number of aircraft held by entity |
|  | CRJ200 |  | CRJ700 |  | CRJ900 |  | ERJ145 |  | E175 |  | Total |
United |  | 106 |  | 19 |  | — |  | 100 |  | 65 |  | 290 |
Delta |  | 87 |  | 22 |  | 41 |  | — |  | 49 |  | 199 |
American |  | 7 |  | 68 |  | — |  | — |  | — |  | 75 |
Alaska |  | — |  | — |  | — |  | — |  | 32 |  | 32 |
Aircraft in scheduled service |  | 200 |  | 109 |  | 41 |  | 100 |  | 146 |  | 596 |
Subleased to an un-affiliated entity |  | 4 |  | — |  | — |  | — |  | — |  | 4 |
Other* |  | 4 |  | 19 |  | — |  | 5 |  | — |  | 28 |
Total Fleet |  | 208 |  | 128 |  | 41 |  | 105 |  | 146 |  | 628 |
* As of December 31, 2018, these aircraft have been removed from service and are in the process of being returned under the applicable leasing arrangement or are aircraft transitioning between code-share agreements with the Company’s major airline partners.
Schedule of marketable securities | The Company’s position in marketable securities as of December 31, 2018 and 2017 was as follows (in thousands):
|  |  |  |  | Gross unrealized |  | Gross unrealized |  |  |  |
At December 31, 2018 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents |  | $ | 328,384 |  | $ | — |  | $ | — |  | $ | 328,384 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Bond and bond funds |  | $ | 229,825 |  | $ | — |  | $ | (42) |  | $ | 229,783 |
Commercial Paper |  |  | 131,163 |  |  | — |  |  | (1) |  |  | 131,162 |
Total marketable securities |  | $ | 360,988 |  | $ | — |  | $ | (43) |  | $ | 360,945 |
Total assets measured at fair value |  | $ | 689,372 |  | $ | — |  | $ | (43) |  | $ | 689,329 |
|  |  |  |  | Gross unrealized |  |  | Gross unrealized |  |  |  |
At December 31, 2017 |  | Amortized Cost |  | holding gains |  | holding losses |  | Fair market value |
Total cash and cash equivalents |  | $ | 181,792 |  | $ | — |  | $ | — |  | $ | 181,792 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Bond and bond funds |  | $ | 344,479 |  | $ | — |  | $ | (228) |  | $ | 344,251 |
Commercial Paper |  |  | 159,252 |  |  | — |  |  | — |  |  | 159,252 |
Total marketable securities |  | $ | 503,731 |  | $ | — |  | $ | (228) |  | $ | 503,503 |
Total assets measured at fair value |  | $ | 685,523 |  | $ | — |  | $ | (228) |  | $ | 685,295 |
Schedule of property and equipment |
Assets |  | Depreciable Life |  | Current Residual Value |
Aircraft, rotable spares, and spare engines |  | up to 22 years |  | up to 20 | % |
Ground equipment |  | up to 10 years |  | 0 | % |
Office equipment |  | up to 7 years |  | 0 | % |
Leasehold improvements |  | Shorter of 15 years or lease term |  | 0 | % |
Buildings |  | 20 - 39.5 years |  | 0 | % |
Schedule of flying agreement revenue data | The following table represents the Company’s flying agreements revenue by type for the year ended December 31, 2018 and 2017 (in thousands):
|  | For the year ended December 31,
|  | 2018 |  | 2017 |  | 2016
Capacity purchase agreements revenue: flight operations |  | $ | 1,856,253 |  | $ | 1,805,510 |  | $ | 1,792,868
Capacity purchase agreements revenue: aircraft lease |  |  | 814,518 |  |  | 834,366 |  |  | 763,406
Prorate agreements revenue |  |  | 498,749 |  |  | 438,421 |  |  | 454,464
Flying agreements revenue |  | $ | 3,169,520 |  | $ | 3,078,297 |  | $ | 3,010,738
Schedule of net income per common share |
|  | Year Ended December 31,
|  | 2018 |  | 2017 |  | 2016 |
Numerator: |  |  |  |  |  |  |  |  |  |
Net Income (Loss) |  | $ | 280,372 |  | $ | 428,907 |  | $ | (161,586) |
Denominator: |  |  |  |  |  |  |  |  |  |
Basic earnings per share weighted average shares |  |  | 51,914 |  |  | 51,804 |  |  | 51,505 |
Dilution due to stock options and restricted stock units |  |  | 957 |  |  | 1,296 |  |  | — |
Diluted earnings per share weighted average shares |  |  | 52,871 |  |  | 53,100 |  |  | 51,505 |
Basic earnings (loss) per share |  | $ | 5.40 |  | $ | 8.28 |  | $ | (3.14) |
Diluted earnings (loss) per share |  | $ | 5.30 |  | $ | 8.08 |  | $ | (3.14) |
ASU 2014-09 |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of impact on financial statements, adoption of Topic 606 | The Company recast certain prior period amounts to conform with the adoption of Topic 606, as shown in the tables below (in thousands):
|  | Year ended December 31, 2017
Income Statement: |  | Previously Reported |  | Adjustments |  | As Adjusted
OPERATING REVENUES: |  |  |  |  |  |  |  |  |
Flying agreements (1) |  | $ | 3,126,708 |  | $ | (48,411) |  | $ | 3,078,297
Airport customer service and other (2) |  |  | 77,560 |  |  | (33,265) |  |  | 44,295
Total operating revenues |  | $ | 3,204,268 |  | $ | (81,676) |  | $ | 3,122,592
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |
Salaries, wages and benefits |  | $ | 1,196,227 |  | $ | (4,160) |  | $ | 1,192,067
Aircraft fuel |  |  | 162,653 |  |  | (77,517) |  |  | 85,136
Airport-related expenses (3) |  |  | 69,848 |  |  | 48,526 |  |  | 118,374
Other operating expenses |  |  | 299,303 |  |  | (48,525) |  |  | 250,778
Total operating expenses |  |  | 2,816,069 |  |  | (81,676) |  |  | 2,734,393
OPERATING INCOME |  | $ | 388,199 |  | $ | — |  | $ | 388,199
| 1. |  | In previously reported periods, this line item was presented as passenger revenue.
| 2. |  | In previously reported periods, this line item was presented as ground handling and other.
| 3. |  | In previously reported periods, this line item was presented as ground handling services.
|  | Year ended December 31, 2016
Income Statement: |  | Previously Reported |  | Adjustments |  | As Adjusted
OPERATING REVENUES: |  |  |  |  |  |  |  |  |
Flying agreements (1) |  | $ | 3,051,414 |  | $ | (40,676) |  | $ | 3,010,738
Airport customer service and other (2) |  |  | 69,792 |  |  | (16,828) |  |  | 52,964
Total operating revenues |  | $ | 3,121,206 |  | $ | (57,504) |  | $ | 3,063,702
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |
Salaries, wages and benefits |  | $ | 1,211,380 |  | $ | (5,921) |  | $ | 1,205,459
Aircraft fuel |  |  | 122,284 |  |  | (51,583) |  |  | 70,701
Airport-related expenses (3) |  |  | 72,659 |  |  | 49,482 |  |  | 122,141
Other operating expenses |  |  | 305,041 |  |  | (49,482) |  |  | 255,559
Total operating expenses |  |  | 3,293,890 |  |  | (57,504) |  |  | 3,236,386
OPERATING INCOME |  | $ | (172,684) |  | $ | — |  | $ | (172,684)
| 1. |  | In previously reported periods, this line item was presented as passenger revenue.
| 2. |  | In previously reported periods, this line item was presented as ground handling and other.
| 3. |  | In previously reported periods, this line item was presented as ground handling services.
Balance Sheet: |  | Previously Reported December 31, 2017 |  | Adjustments |  | Current Presentation December 31, 2017
ASSETS: |  |  |  |  |  |  |
Other long-term assets |  | $ | 49,220 |  | $ | 16,121 |  | $ | 65,341
LIABILITIES: |  |  |  |  |  |  |
Other long-term liabilities |  | $ | 42,541 |  | $ | 16,121 |  | $ | 58,662
Delta Connection Agreement |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines | Delta Connection Agreements
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
Delta Connection Agreement (fixed-fee arrangement) |  | CRJ 200 CRJ 700 CRJ 900 E175 |  | 58 22 41 49 |  | Individual aircraft have scheduled removal dates from 2019 to 2029 The average remaining term of the aircraft under contract is 4.1 years |
Delta Connection Prorate Agreement (revenue-sharing arrangement) |  | CRJ 200 |  | 29 |  | Terminable with 30-day notice |
United Express Agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines |
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
United Express Agreements (fixed-fee arrangement) |  | CRJ 200 CRJ 700 E175 |  | 65 19 65 |  | Individual aircraft have scheduled removal dates under the agreement between 2019 and 2029 The average remaining term of the aircraft under contract is 7.0 years |
United Express Prorate Agreement (revenue-sharing arrangement) |  | CRJ 200 |  | 25 |  | Terminable with 120-day notice |
American Agreements |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines |
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
American Agreement (fixed-fee arrangement) |  |  CRJ 700 |  | 58 |  |  Individual aircraft have scheduled removal dates from 2019 to 2023 |
American Prorate Agreement (revenue-sharing arrangement) |  |  CRJ 200 |  | 7 |  |  Terminable with 120-day notice |
Alaska Capacity Purchase Agreement |
Nature of Operations and Summary of Significant Accounting Policies [Line Items] |
Schedule of details of aircraft and agreements with other airlines | Alaska Capacity Purchase Agreement
Agreement |  | Aircraft type |  | Number of Aircraft |  | Term / Termination Dates |
Alaska Agreement (fixed-fee arrangement) |  | E175 |  | 32 |  |  Individual aircraft have scheduled removal dates from 2027 to 2030 |

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