XML 48 R3.htm IDEA: XBRL DOCUMENT v3.22.2
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
OPERATING REVENUES:        
Passenger $ 592,604 $ 443,747 $ 1,056,566 $ 700,441
Third party products 27,787 23,001 50,267 36,622
Fixed fee contracts 8,920 5,134 22,305 12,827
Other 536 551 818 1,667
Total operating revenues 629,847 472,433 1,129,956 751,557
OPERATING EXPENSES:        
Aircraft fuel 257,288 109,456 421,425 192,305
Salaries and benefits 139,681 121,906 273,691 239,856
Station operations 66,909 57,210 132,652 100,303
Depreciation and amortization 49,183 44,522 95,526 87,696
Maintenance and repairs 31,123 22,597 58,943 45,968
Sales and marketing 27,297 17,632 49,647 29,241
Aircraft lease rental 5,451 5,117 11,584 9,837
Other 26,643 15,501 52,845 33,276
Payroll Support Programs grant recognition 0 (61,213) 0 (152,971)
Special charges 142 854 284 2,592
Total operating expenses 603,717 333,582 1,096,597 588,103
OPERATING INCOME 26,130 138,851 33,359 163,454
OTHER (INCOME) EXPENSES:        
Interest expense 24,497 16,720 44,288 33,508
Capitalized interest (2,082) 0 (3,298) 0
Interest income (2,218) (500) (2,991) (963)
Loss on debt extinguishment 0 71 0 71
Other, net 101 (11) 95 (404)
Total other expenses 20,298 16,280 38,094 32,212
INCOME (LOSS) BEFORE INCOME TAXES 5,832 122,571 (4,735) 131,242
INCOME TAX PROVISION (BENEFIT) 1,474 27,544 (1,212) 29,346
NET INCOME (LOSS) $ 4,358 $ 95,027 $ (3,523) $ 101,896
Earnings (loss) per share to common shareholders:        
Basic (in dollars per share) $ 0.24 $ 5.49 $ (0.20) $ 6.04
Diluted (in dollars per share) $ 0.24 $ 5.49 $ (0.20) $ 6.04
Shares used for computation:        
Basic (in shares) 17,987 17,064 17,970 16,618
Diluted (in shares) 18,006 17,073 17,970 16,632
Cash dividends declared per share: $ 0 $ 0 $ 0 $ 0