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Long-Term Debt and Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Our outstanding Notes are as follows (in thousands):

	December 31,				December 31,
	2024				2023
Interim funding for equipment received and expected to be converted to an equipment note in subsequent year; interest paid at a variable rate	$	-			$	3,265
Secured Equipment Notes due on various dates in 2029 commencing on various dates in 2024; interest is paid monthly at a fixed annual rate between 5.11% and 6.24% (1)		21,400				-
Secured Equipment Notes due on various dates in 2028 commencing on various dates in 2023; interest is paid monthly at a fixed annual rate between 5.21% and 6.32%		85,050				105,744
Secured Equipment Notes due on various dates in 2027 commencing on various dates in 2022 and 2023; interest is paid monthly at a fixed annual rate between 2.07% and 6.45%		108,411				147,192
Secured Equipment Notes due on various dates in 2026 commencing on various dates in 2021; interest is paid monthly at a fixed annual rate between 1.48% and 2.41%		36,942				55,797
Secured Equipment Notes due on various dates in 2025 commencing on various dates in 2020; interest is paid monthly at a fixed annual rate between 1.51% and 1.80%		12,559				30,930
Secured Equipment Notes due on various dates in 2024 commencing on various dates in 2017, 2019 and 2020; interest is paid monthly at a fixed annual rate between 2.50% and 3.59%		-				7,754
Total debt		264,362				350,682
Less current portion of long-term debt		(100,001	)			(105,108	)
Total long-term debt	$	164,361			$	245,574

(1) Includes an immaterial amount of notes held at EASO with interest rates up to 13.95%.

Summary of Aggregate Principal Payments

Aggregate principal payments, in thousands, due subsequent to December 31, 2024, are as follows:

Year 1	$	100,001
Year 2		84,812
Year 3		55,612
Year 4		22,453
Year 5		1,484
	$	264,362

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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