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Segments (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

			Three Months Ended June 30, 2025
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	668,750					$	20,634					$	689,384
OPERATING EXPENSES:
Salaries and benefits			203,485						10,617						214,102
Aircraft fuel			165,752						—						165,752
Station operations			75,248						—						75,248
Depreciation and amortization			64,961						3,558						68,519
Maintenance and repairs			36,379						—						36,379
Sales and marketing			25,119						1,718						26,837
Aircraft lease rentals			11,023						—						11,023
Other operating expense(1)			29,031						12,058						41,089
Special charges, net of recoveries			14,595						103,329						117,924
Total operating expenses			625,593						131,280						756,873
OPERATING INCOME (LOSS)			43,157						(110,646)						(67,489)
OTHER (INCOME) EXPENSES:
Interest income			(10,359)						—						(10,359)
Interest expense			28,121						7,635						35,756
Capitalized interest			(4,562)						—						(4,562)
Other non-operating expense			240						—						240
INCOME (LOSS) BEFORE INCOME TAXES			$	29,717					$	(118,281)					$	(88,564)
Capital expenditures			$	137,717					$	1,036					$	138,753

			Three Months Ended June 30, 2024
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	649,472					$	16,811					$	666,283
OPERATING EXPENSES:
Salaries and benefits			197,417						12,525						209,942
Aircraft fuel			170,060						—						170,060
Station operations			69,798						—						69,798
Depreciation and amortization			59,345						6,016						65,361
Maintenance and repairs			30,730						—						30,730
Sales and marketing			25,918						1,580						27,498
Aircraft lease rentals			5,749						—						5,749
Other operating expense(1)			23,426						10,708						34,134
Special charges, net of recoveries			20,073						(1,959)						18,114
Total operating expenses			602,516						28,870						631,386
OPERATING INCOME (LOSS)			46,956						(12,059)						34,897
OTHER (INCOME) EXPENSES:
Interest income			(11,130)						—						(11,130)
Interest expense			34,121						5,423						39,544
Capitalized interest			(11,609)						—						(11,609)
Other non-operating expense			67						—						67
INCOME (LOSS) BEFORE INCOME TAXES			$	35,507					$	(17,482)					$	18,025
Capital expenditures			$	39,044					$	4,039					$	43,083

			Six Months Ended June 30, 2025
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	1,337,136					$	51,322					$	1,388,458
OPERATING EXPENSES:
Salaries and benefits			423,859						21,682						445,541
Aircraft fuel			332,085						—						332,085
Station operations			148,753						—						148,753
Depreciation and amortization			124,672						7,158						131,830
Maintenance and repairs			71,233						—						71,233
Sales and marketing			48,489						3,444						51,933
Aircraft lease rentals			16,942						—						16,942
Other operating expense(1)			51,107						25,152						76,259
Special charges, net of recoveries			15,987						100,382						116,369
Total operating expenses			1,233,127						157,818						1,390,945
OPERATING INCOME (LOSS)			104,009						(106,496)						(2,487)
OTHER (INCOME) EXPENSES:
Interest income			(22,294)						—						(22,294)
Interest expense			57,070						19,470						76,540
Capitalized interest			(11,050)						—						(11,050)
Other non-operating expense			941						—						941
INCOME (LOSS) BEFORE INCOME TAXES			$	79,342					$	(125,966)					$	(46,624)
Capital expenditures			$	220,853					$	1,442					$	222,295

			Six Months Ended June 30, 2024
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	1,281,990					$	40,698					$	1,322,688
OPERATING EXPENSES:
Salaries and benefits			396,926						26,343						423,269
Aircraft fuel			340,147						—						340,147
Station operations			136,266						—						136,266
Depreciation and amortization			117,212						11,993						129,205
Maintenance and repairs			61,008						—						61,008
Sales and marketing			54,796						3,602						58,398
Aircraft lease rentals			11,734						—						11,734
Other operating expense(1)			57,742						23,363						81,105
Special charges, net of recoveries			34,987						(3,775)						31,212
Total operating expenses			1,210,818						61,526						1,272,344
OPERATING INCOME (LOSS)			71,172						(20,828)						50,344
OTHER (INCOME) EXPENSES:
Interest income			(23,371)						—						(23,371)
Interest expense			68,858						10,846						79,704
Capitalized interest			(22,468)						(326)						(22,794)
Other non-operating expense			117						—						117
INCOME (LOSS) BEFORE INCOME TAXES			$	48,036					$	(31,348)					$	16,688
Capital expenditures			$	161,219					$	18,043					$	179,262

(1)     Other operating expenses in the Airline segment consist of insurance, crew training and travel, legal expense, gains and losses on the sale of flight equipment, and other general and administrative expenses. Other operating expenses in the Sunseeker segment consist of food and beverage cost of goods sold, contract labor, property tax, insurance, and other general and administrative expense.

Total assets were as follows as of the dates indicated:

(in thousands)			As of June 30, 2025						As of December 31, 2024
Airline			$	4,191,346					$	4,116,289
Sunseeker Resort			197,795						313,564
Consolidated			$	4,389,141					$	4,429,853

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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