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Special Charges | 9 Months Ended
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Sep. 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. The sale of Sunseeker Resort was completed on September 4, 2025, and the Company recorded an additional $2.9 million of special charges related to costs and other adjustments associated with the sale. 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 were recorded as special charges at the time of the event and offset by insurance recoveries when approved for payment. The Company does not expect future recoveries, if any, will be significant. 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 15 airframes under this plan. The remaining airframes are to be retired between February 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 nine months ended September 30, 2025 and 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 Table The table below summarizes special charges recorded during the three and nine months ended September 30, 2025, and 2024.
|  |  |  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Accelerated depreciation on airframes identified for early retirement |  |  |  |  |  | $ | 2,907 |  |  | $ | 4,231 |  |  | $ | 6,799 |  |  | $ | 28,398 |
Flight attendant ratification bonus |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 10,821 |
Organizational restructuring |  |  |  |  |  | — |  |  | 3,420 |  |  | 12,095 |  |  | 3,420 |
Airline special charges |  |  |  |  |  | 2,907 |  |  | 7,651 |  |  | 18,894 |  |  | 42,639 |
Sunseeker weather events, net of (insurance recoveries) |  |  |  |  |  | (2,324) |  |  | 1,139 |  |  | (4,155) |  |  | (2,637) |
Charges related to the sale of Sunseeker Resort |  |  |  |  |  | 2,890 |  |  | — |  |  | 105,103 |  |  | — |
Sunseeker special charges |  |  |  |  |  | 566 |  |  | 1,139 |  |  | 100,948 |  |  | (2,637) |
Total special charges |  |  |  |  |  | $ | 3,473 |  |  | $ | 8,790 |  |  | $ | 119,842 |  |  | $ | 40,002 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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