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Long-Term Debt | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt The following table summarizes the Company's long-term debt and finance lease obligations, net of related costs, as of the dates indicated:
(in thousands) | June 30, 2023 |  | December 31, 2022
Fixed-rate debt and finance lease obligations due through 2032 | $ | 1,797,006 |  |  | $ | 1,720,998 |
Variable-rate debt due through 2029 | 360,995 |  |  | 375,980 |
Total debt and finance lease obligations | 2,158,001 |  |  | 2,096,978 |
Less current maturities | 270,216 |  |  | 152,900 |
Long-term debt and finance lease obligations, net of current maturities | $ | 1,887,785 |  |  | $ | 1,944,078 |
Weighted average fixed-interest rate on debt | 6.5% |  | 6.5%
Weighted average variable-interest rate on debt | 7.2% |  | 6.1%
|  |  |  |  | Interest Rate(s) Per Annum at |  | As of
(in thousands) | Maturity Dates |  | June 30, 2023 |  | June 30, 2023 |  | December 31, 2022
Senior secured notes | 2024 | — | 2027 |  | 7.25 | % | — | 8.50% |  | $ | 700,000 |  |  | $ | 700,000 |
Consolidated variable interest entities | 2024 | — | 2029 |  | 2.92 | % | — | 4.09% |  | 101,091 |  |  | 79,453 |
Revolving credit facilities | 2024 | — | 2027 |  | 7.74% |  | 118,791 |  |  | 30,327 |
Debt secured by aircraft, engines, other equipment and real estate | 2025 | — | 2029 |  | 1.87 | % | — | 8.02% |  | 441,925 |  |  | 466,335 |
Finance leases | 2028 | — | 2032 |  | 4.44 | % | — | 7.00% |  | 467,394 |  |  | 494,328 |
Construction loan agreement | 2028 |  | 5.75% |  | 350,000 |  |  | 350,000 |
Total debt |  |  |  |  | $ | 2,179,201 |  |  | $ | 2,120,443 |
Related costs |  |  |  |  |  |  |  |  | (21,200) |  |  | (23,465) |
Total debt net of related costs |  |  |  |  |  |  |  |  | $ | 2,158,001 |  |  | $ | 2,096,978 |
Maturities of long term debt as of June 30, 2023, for the next five years and thereafter, in the aggregate, are:
(in thousands) | As of June 30, 2023
Remaining in 2023 | $ | 59,762 |
2024 | 397,439 |
2025 | 180,237 |
2026 | 174,031 |
2027 | 728,415 |
2028 | 288,190 |
Thereafter | 329,927 |
Total debt and finance lease obligations, net of related costs | $ | 2,158,001 |
Revolving Credit Facility In February 2023, the Company, through a wholly owned subsidiary, entered into a credit agreement with Credit Agricole Corporate and Investment Bank, under which the Company is entitled to borrow up to $100.0 million. This revolving credit facility replaced a revolving credit facility with the same lender which was to expire in March 2023. The revolving credit facility has a maturity date of March 31, 2026 and the borrowing ability is based on the value of aircraft and engines placed into the collateral pool. The notes under the facility bear interest at a floating rate based on SOFR. As of June 30, 2023, the facility remains undrawn. During the six months ended June 30, 2023, the Company received $88.5 million in advances on a pre-delivery payment (PDP) credit facility secured by the Company's Boeing aircraft purchase rights. The notes under the facility bear interest at a floating interest rate based on SOFR and mature on December 31, 2024. Consolidated Variable Interest Entities In February 2023, the Company, through a wholly owned subsidiary, entered into agreements with a trust to borrow $27.0 million secured by one Airbus A320 series aircraft. The trust was funded on inception. The borrowing bears interest at a rate of 2.92 percent and is payable in monthly installments through February 2029, at which time the Company will have a purchase option at a fixed amount. Other Secured Debt In May 2023, the Company borrowed $92.7 million under a loan agreement secured by six Airbus A320 series aircraft. The notes bear interest at a fixed rate, payable in quarterly installments maturing in May 2028. Debt Extinguishment In June 2023, the Company made a $61.0 million prepayment to extinguish an aircraft-secured debt facility. The facility bore interest at a floating rate and had a maturity date of June 2024.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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