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Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2020

Long-term Debt

Schedule of long-term debt

Long-term debt consisted of the following as of December 31, 2020 and 2019 (in thousands):

​	​	​	​	​	​	​	​
​		December 31,			December 31,
​	​	2020		​	2019
Notes payable to a financing company, due in semi-annual installments, with a fixed interest rate of 3.25% through 2021, secured by aircraft	​	$	6,205	​	$	18,412	​
Notes payable to banks, due in semi-annual installments plus interest at 6.24% to 6.51% through 2021, secured by aircraft	​		7,608	​		22,557	​
Notes payable to banks, due in monthly or semi-annual installments, plus interest at 2.68% to 6.86% through 2029, secured by aircraft	​		424,407	​		438,878	​
Notes payable to banks, due in quarterly installments, plus interest at 2.33% to 5.08% through 2032, secured by aircraft	​	​	2,618,777	​	​	2,537,676	​
Notes payable to bank, due in monthly installments interest based on LIBOR plus interest spread at 2.65% through 2021	​	​	13,795	​	​	—	​
Notes payable to US Government, interest due quarterly based on LIBOR plus interest spread currently at 3.22% through 2025, secured by parts and engines	​	​	60,000	​	​	—	​
Notes payable to US Government, interest due quarterly at 1.00% through 2025 and based on SOFR plus spread from 2025 through 2030, unsecured	​		105,210	​		—	​
Long-term debt	​	$	3,236,002	​	$	3,017,523	​
Current portion of long-term debt	​		(406,005)	​		(367,954)	​
Less long-term portion of unamortized debt issue cost, net	​	​	(28,459)	​	​	(20,580)	​
Long-term debt, net of current maturities and debt issue costs	​	$	2,801,538	​	$	2,628,989	​
​	​	​	​	​	​	​	​
Current portion of long-term debt	​		406,005	​		367,954	​
Less current portion of unamortized debt issue cost, net	​	​	(3,847)	​	​	(3,828)	​
Current portion of long-term debt, net of debt issue costs	​	$	402,158	​	$	364,126	​

Schedule of maturities of long-term debt

The aggregate amounts of principal maturities of long-term debt as of December 31, 2020 were as follows (in thousands):

​	​	​	​	​
2021		$	406,005
2022	​		407,554	​
2023	​		418,048	​
2024	​		372,322	​
2025	​		447,251	​
Thereafter	​		1,184,822	​
​	​	$	3,236,002	​

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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