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Long-Term Debt | 9 Months Ended
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Sep. 30, 2024
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) | September 30, 2024 |  | December 31, 2023
Fixed-rate debt and finance lease obligations due through 2032 | $ | 1,763,074 |  |  | $ | 1,834,754 |
Variable-rate debt due through 2036 | 425,058 |  |  | 424,900 |
Total long-term debt and finance lease obligations, net of related costs | 2,188,132 |  |  | 2,259,654 |
Less current maturities, net of related costs | 420,882 |  |  | 439,937 |
Long-term debt and finance lease obligations, net of current maturities and related costs | $ | 1,767,250 |  |  | $ | 1,819,717 |
Weighted average fixed-interest rate on debt | 6.4% |  | 6.3%
Weighted average variable-interest rate on debt | 7.7% |  | 7.9%
|  |  |  |  | Interest Rate(s) Per Annum at |  | Balance as of
(dollars in thousands) | Maturity Dates |  | September 30, 2024 |  | September 30, 2024 |  | December 31, 2023
Senior secured notes | 2027 |  | 7.25% |  | $ | 550,000 |  |  | $ | 550,000 |
Consolidated variable interest entities | 2024 | - | 2029 |  | 2.92% | - | 5.19% |  | 118,881 |  |  | 130,650 |
Revolving credit facilities | 2024 | - | 2027 |  | 7.72% |  | 124,395 |  |  | 200,000 |
Debt secured by aircraft, engines, other equipment and real estate | 2025 | - | 2036 |  | 1.87% | - | 8.91% |  | 625,889 |  |  | 596,271 |
Finance leases | 2028 | - | 2032 |  | 4.44% | - | 7.01% |  | 436,370 |  |  | 455,248 |
Sunseeker construction loan | 2028 |  | 5.75% |  | 350,000 |  |  | 350,000 |
Total debt |  |  |  |  | $ | 2,205,535 |  |  | $ | 2,282,169 |
Related costs |  |  |  |  |  |  |  |  | (17,403) |  |  | (22,515) |
Total debt net of related costs |  |  |  |  |  |  |  |  | $ | 2,188,132 |  |  | $ | 2,259,654 |
Maturities of long term debt as of September 30, 2024, for the next five years and thereafter, in the aggregate, are:
(in thousands) | As of September 30, 2024
Remaining in 2024 | $ | 163,014 |
2025 | 319,157 |
2026 | 182,844 |
2027 | 716,227 |
2028 | 335,625 |
2029 | 150,803 |
Thereafter | 320,462 |
Total debt and finance lease obligations, net of related costs | $ | 2,188,132 |
Debt Secured by Aircraft During the nine months ended September 30, 2024, the Company received $18.8 million in advances and made $75.6 million in repayments on pre-delivery payment (PDP) credit facilities secured by certain aircraft purchase rights. The notes under the facilities bear interest at floating interest rates based on SOFR and are payable at maturity or upon delivery of the collateralized aircraft, whichever comes first. During the three months ended September 30, 2024, the Company borrowed $75.2 million through two new debt facilities secured by two aircraft. These notes bear interest at floating interest rates based on SOFR, are payable in quarterly installments, and mature in September 2029 and September 2036. Other Secured Debt In March 2024, the Company entered into credit agreements for up to $218.5 million which will be collateralized by new aircraft upon delivery. The loans will bear interest at a variable rate based on 3-month SOFR and are payable in quarterly installments for a term of 12 years. No drawings have been made on these financing commitments to date.

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