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Long-Term Debt
 6 Months Ended
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, 2023December 31, 2022
Fixed-rate debt and finance lease obligations due through 2032$1,797,006 $1,720,998 
Variable-rate debt due through 2029360,995 375,980 
Total debt and finance lease obligations2,158,001 2,096,978 
Less current maturities270,216 152,900 
Long-term debt and finance lease obligations, net of current maturities$1,887,785 $1,944,078 
Weighted average fixed-interest rate on debt6.5%6.5%
Weighted average variable-interest rate on debt7.2%6.1%

Interest Rate(s) Per Annum atAs of
(in thousands)Maturity DatesJune 30, 2023June 30, 2023December 31, 2022
Senior secured notes2024—20277.25 %—8.50%$700,000 $700,000 
Consolidated variable interest entities2024—20292.92 %—4.09%101,091 79,453 
Revolving credit facilities2024—20277.74%118,791 30,327 
Debt secured by aircraft, engines, other equipment and real estate2025—20291.87 %—8.02%441,925 466,335 
Finance leases2028—20324.44 %—7.00%467,394 494,328 
Construction loan agreement20285.75%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 
2024397,439 
2025180,237 
2026174,031 
2027728,415 
2028288,190 
Thereafter329,927 
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.