Long-Term Debt

3 Months Ended

Mar. 31, 2021

The following table summarizes the Company's Long-term debt and finance lease obligations as of the dates indicated:


(in thousands)	March 31, 2021			December 31, 2020
Fixed-rate debt and finance lease obligations due through 2029	$	619,874		$	525,240
Variable-rate debt due through 2029	996,178			1,133,771
Total long-term debt and finance lease obligations, net of related costs	1,616,052			1,659,011
Less current maturities, net of related costs	156,482			217,234
Long-term debt and finance lease obligations, net of current maturities and related costs	$	1,459,570		$	1,441,777

Weighted average fixed-interest rate on debt	5.8		%	5.7		%
Weighted average variable-interest rate on debt	2.5		%	2.4		%

Maturities of long-term debt and finance lease obligations for the remainder of 2021 and for the next four years and thereafter, in the aggregate, are: remaining in 2021 - $120.4 million; 2022 - $131.9 million; 2023 - $131.7 million; 2024 - $801.6 million; 2025 - $84.6 million; and $345.8 million thereafter.

Senior Secured Revolving Credit Facility

The senior secured revolving credit facility under which the Company was able to borrow up to $81.0 million matured on March 31, 2021. Principal payments were made during the quarter totaling $7.4 million and the final outstanding balance of $46.5 million was paid at maturity.

In March 2021, the Company entered into a new revolving credit facility under which it is entitled to borrow up to $50.0 million. The facility has a term of 24 months and the borrowing ability is based on the value of the Airbus A320 series aircraft placed into the collateral pool. The notes for amounts borrowed under the facility bear interest at a floating rate based on LIBOR and are due in March 2023. As of March 31, 2021, no aircraft collateral had been added to the collateral pool and the facility was undrawn.