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Segments (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

			Three Months Ended September 30, 2025
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	552,574					$	9,358					$	561,932
OPERATING EXPENSES:
Salaries and benefits			190,491						5,903						196,394
Aircraft fuel			151,254						—						151,254
Station operations			71,390						—						71,390
Depreciation and amortization			58,952						—						58,952
Maintenance and repairs			39,908						—						39,908
Sales and marketing			22,093						947						23,040
Aircraft lease rentals			11,096						—						11,096
Other operating expense(1)			24,684						8,931						33,615
Special charges, net of recoveries			2,907						566						3,473
Total operating expenses			572,775						16,347						589,122
OPERATING LOSS			(20,201)						(6,989)						(27,190)
OTHER (INCOME) EXPENSES:
Interest income			(10,108)						—						(10,108)
Interest expense			34,120						3,996						38,116
Capitalized interest			(3,166)						—						(3,166)
Other non-operating expense			122						—						122
LOSS BEFORE INCOME TAXES			$	(41,169)					$	(10,985)					$	(52,154)
Capital expenditures			$	129,278					$	—					$	129,278

			Three Months Ended September 30, 2024
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	549,127					$	13,069					$	562,196
OPERATING EXPENSES:
Salaries and benefits			183,849						11,477						195,326
Aircraft fuel			148,241						—						148,241
Station operations			70,632						—						70,632
Depreciation and amortization			56,025						7,893						63,918
Maintenance and repairs			30,278						—						30,278
Sales and marketing			23,370						1,499						24,869
Aircraft lease rentals			5,920						—						5,920
Other operating expense(1)			30,187						10,376						40,563
Special charges, net of recoveries			7,651						1,139						8,790
Total operating expenses			556,153						32,384						588,537
OPERATING LOSS			(7,026)						(19,315)						(26,341)
OTHER (INCOME) EXPENSES:
Interest income			(10,071)						—						(10,071)
Interest expense			33,582						5,483						39,065
Capitalized interest			(11,923)						—						(11,923)
Other non-operating expense			30						—						30
LOSS BEFORE INCOME TAXES			$	(18,644)					$	(24,798)					$	(43,442)
Capital expenditures			$	40,731					$	1,063					$	41,794

			Nine Months Ended September 30, 2025
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	1,889,710					$	60,680					$	1,950,390
OPERATING EXPENSES:
Salaries and benefits			614,350						27,585						641,935
Aircraft fuel			483,339						—						483,339
Station operations			220,143						—						220,143
Depreciation and amortization			183,623						7,159						190,782
Maintenance and repairs			111,141						—						111,141
Sales and marketing			70,583						4,390						74,973
Aircraft lease rentals			28,038						—						28,038
Other operating expense(1)			75,790						34,083						109,873
Special charges, net of recoveries			18,894						100,948						119,842
Total operating expenses			1,805,901						174,165						1,980,066
OPERATING INCOME (LOSS)			83,809						(113,485)						(29,676)
OTHER (INCOME) EXPENSES:
Interest income			(32,402)						—						(32,402)
Interest expense			91,190						23,466						114,656
Capitalized interest			(14,216)						—						(14,216)
Other non-operating expense			1,064						—						1,064
INCOME (LOSS) BEFORE INCOME TAXES			$	38,173					$	(136,951)					$	(98,778)
Capital expenditures			$	350,131					$	1,442					$	351,573

			Nine Months Ended September 30, 2024
(in thousands)			Airline						Sunseeker						Consolidated
REVENUES FROM EXTERNAL CUSTOMERS			$	1,831,116					$	53,768					$	1,884,884
OPERATING EXPENSES:
Salaries and benefits			580,775						37,820						618,595
Aircraft fuel			488,388						—						488,388
Station operations			206,898						—						206,898
Depreciation and amortization			173,237						19,885						193,122
Maintenance and repairs			91,286						—						91,286
Sales and marketing			78,166						5,100						83,266
Aircraft lease rentals			17,653						—						17,653
Other operating expense(1)			87,930						33,741						121,671
Special charges, net of recoveries			42,639						(2,637)						40,002
Total operating expenses			1,766,972						93,909						1,860,881
OPERATING INCOME (LOSS)			64,144						(40,141)						24,003
OTHER (INCOME) EXPENSES:
Interest income			(33,441)						—						(33,441)
Interest expense			102,441						16,328						118,769
Capitalized interest			(34,392)						(326)						(34,718)
Other non-operating expense			146						—						146
INCOME (LOSS) BEFORE INCOME TAXES			$	29,390					$	(56,143)					$	(26,753)
Capital expenditures			$	201,950					$	19,105					$	221,055

(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 expenses.

Total assets were as follows as of the dates indicated:

(in thousands)			As of September 30, 2025						As of December 31, 2024
Airline			$	4,392,245					$	4,116,289
Sunseeker Resort			—						313,564
Consolidated			$	4,392,245					$	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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X

- References

No definition available.

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