XML 15 R3.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
OPERATING REVENUES:        
Passenger $ 423,796 $ 181,916 $ 1,124,237 $ 677,347
Third party products 24,541 11,337 61,164 35,756
Fixed fee contracts 11,117 5,284 23,943 17,440
Other 15 2,447 1,682 12,969
Total operating revenues 459,469 200,984 1,211,026 743,512
OPERATING EXPENSES:        
Salary and benefits 125,799 95,829 365,655 303,264
Aircraft fuel 118,370 52,540 310,674 168,711
Station operations 70,943 39,954 171,246 108,359
Depreciation and amortization 46,399 45,291 134,095 132,285
Maintenance and repairs 30,451 14,038 76,419 48,866
Sales and marketing 22,047 7,967 51,288 35,331
Aircraft lease rental 5,670 3,015 15,507 5,404
Other 22,379 19,755 55,655 70,225
Payroll Support Programs grant recognition (49,210) (77,909) (202,181) (152,448)
Special charges 332 33,585 2,924 280,852
Total operating expenses 393,180 234,065 981,282 1,000,849
OPERATING INCOME (LOSS) 66,289 (33,081) 229,744 (257,337)
OTHER (INCOME) EXPENSES:        
Interest expense 16,595 11,943 50,103 44,149
Capitalized interest (401) 0 (401) (4,067)
Interest income (375) (868) (1,338) (4,596)
Loss on debt extinguishment 0 0 71 1,222
Special charges 0 0 0 26,632
Other, net 239 552 (164) 1,173
Total other expenses 16,058 11,627 48,271 64,513
INCOME (LOSS) BEFORE INCOME TAXES 50,231 (44,708) 181,473 (321,850)
INCOME TAX PROVISION (BENEFIT) 10,977 (15,565) 40,323 (166,595)
NET INCOME (LOSS) $ 39,254 $ (29,143) $ 141,150 $ (155,255)
Earnings (loss) per share to common shareholders:        
Basic $ 2.18 $ (1.82) $ 8.18 $ (9.75)
Diluted $ 2.18 $ (1.82) $ 8.18 $ (9.75)
Shares used for computation:        
Basic 17,766 16,006 17,005 15,953
Diluted       15,953
Diluted 17,767 16,006 17,015 15,953
Cash dividends declared per share: $ 0 $ 0 $ 0 $ 0.70