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Special Charges
 6 Months Ended
Jun. 30, 2025
Unusual or Infrequent Items, or Both [Abstract]  
Special Charges Special Charges
Sunseeker Resort

In second quarter 2025, the Company recorded special charges of $102.2 million related to the pending sale of Sunseeker Resort at Charlotte Harbor (the "Resort" or "Sunseeker Resort") and the associated Aileron Golf Course, consisting of a write-down charge of $100.4 million and $1.8 million for accrual of retention pay for certain key employees. For more detailed discussion regarding the sale, see Note 11.

Sunseeker Resort was damaged by weather events occurring between 2022 and 2024. The Company considers these events unusual and has accounted for their costs and related insurance recoveries as special charges. Estimated losses are recorded as special charges at the time of the event and offset by insurance recoveries once approved for payment.

Airline

The Company has identified airframes for early retirement to coincide with 737 MAX aircraft deliveries as scheduled under an amendment to the Company's agreement with The Boeing Company signed in September 2023. To date, the Company has retired a total of 13 airframes under this plan. The remaining airframes are to be retired between August 2025 and December 2026. The accelerated depreciation on these airframes resulting from a change in the estimated useful life is recorded as a special charge in the three and six months ended June 30, 2025 and 2024.

In April 2024, the Company and the Transport Workers Union of America, representing the Company's flight attendants, ratified a new five-year collective bargaining agreement. The ratification bonus related to the new collective bargaining agreement is included within special charges in 2024.

In second quarter 2025, the Company recorded $12.1 million of special charges related to corporate restructuring efforts taken in response to softness in air travel demand due to heightened macroeconomic uncertainty. These efforts included voluntary separation packages offered to corporate and operational personnel, termination of certain marketing agreements and abandonment of certain IT assets no longer being used.
Special Charges

The table below summarizes special charges recorded during the three and six months ended June 30, 2025, and 2024.
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Accelerated depreciation on airframes identified for early retirement$2,501 $9,251 $3,892 $24,166 
Flight attendant ratification bonus— 10,821 — 10,821 
Organizational restructuring12,095 — 12,095 — 
Airline special charges14,596 20,072 15,987 34,987 
Sunseeker special charges, net of insurance recoveries(1)
103,328 $(1,958)100,382 $(3,775)
Total special charges$117,924 $18,114 116,369 $31,212 
(1) Includes $3.7 million and $0.7 million of business interruption insurance proceeds received during the three months ended March 31, 2025 and 2024, respectively. There were no business interruption insurance proceeds received during the three months ended June 30, 2025 and 2024.