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Leases (Tables) | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Schedule of Lease Cost | The components of lease costs recognized on the statements of income were as follows:
|  | Year Ended December 31,
(in thousands) | Classification on the Statements of Income | 2025 |  | 2024 |  | 2023
Finance lease costs: |  |  |  |  |  |
Amortization of assets | Depreciation and amortization | $ | 24,013 |  |  | $ | 23,855 |  |  | $ | 27,170 |
Interest on lease liabilities | Interest expense | 24,505 |  |  | 25,994 |  |  | 27,502 |
Operating lease cost | Aircraft lease rentals; Station operations; Maintenance and repairs; Other operating expense | 25,250 |  |  | 26,178 |  |  | 25,246 |
Variable lease cost(1) | Aircraft lease rentals; Station operations; Maintenance and repairs; Other operating expense | 13,509 |  |  | 492 |  |  | 1,563 |
Total lease cost |  | $ | 87,277 |  |  | $ | 76,519 |  |  | $ | 81,481 |
(1) In 2025, includes estimated lease return costs which we began to accrue in second quarter 2025 for certain aircraft on operating leases related to redeliveries in 2025 and future years.
Schedule of Lease-related Asset and Liabilities | The table below presents the lease-related assets and liabilities recorded on the balance sheet.
|  | As of December 31,
(in thousands) | Classification on the Balance Sheet | 2025 |  | 2024
Assets |  |  |  |
Operating lease assets | Operating lease right-of-use assets, net | $ | 63,389 |  |  | $ | 81,218 |
Finance lease assets | Property and equipment, net of accumulated depreciation | 403,783 |  |  | 427,664 |
Total lease assets |  | $ | 467,172 |  |  | $ | 508,882 |
Liabilities |  |  |  |
Current |  |  |  |
Operating | Current operating lease liabilities | $ | 10,936 |  |  | $ | 20,714 |
Finance | Current maturities of long-term debt and finance lease obligations | 28,106 |  |  | 26,836 |
Noncurrent |  |  |  |
Operating | Noncurrent operating lease liabilities | 54,170 |  |  | 62,392 |
Finance | Long-term debt and finance lease obligations | 374,954 |  |  | 403,060 |
Total lease liabilities |  | $ | 468,166 |  |  | $ | 513,002 |
Weighted-average remaining lease term |  |  |  |
Operating leases |  | 7.6 years |  | 7.2 years
Finance leases |  | 5.1 years |  | 6.1 years
Weighted-average discount rate |  |  |  |
Operating leases |  | 5.7 | % |  | 5.6 | %
Finance leases |  | 5.9 | % |  | 5.9 | %
Schedule of Cash Flow, Supplemental Disclosures | The table below presents supplemental cash flow information related to leases during the years ended December 31, 2025, 2024 and 2023.
| Year Ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |
Operating cash flows for operating leases | $ | 24,545 |  |  | $ | 26,679 |  |  | $ | 25,774 |
Operating cash flows for finance leases | 24,572 |  |  | 26,056 |  |  | 27,672 |
Financing cash flows for finance leases | 26,836 |  |  | 25,352 |  |  | 39,044 |
Income Taxes Paid (Refunded)
| Year ended December 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Federal | $ | (15,000) |  |  | $ | 8,700 |  |  | $ | 3 |
State | (264) |  |  | (274) |  |  | 596 |
Foreign | — |  |  | 312 |  |  | 413 |
Total | $ | (15,264) |  |  | $ | 8,738 |  |  | $ | 1,012 |
Schedule of Future Minimum Payments of Lease Liabilities | The table below indicates the future minimum payments of lease liabilities as of December 31, 2025.
(in thousands) | Operating Leases |  | Finance Leases
2026 | $ | 14,143 |  |  | $ | 51,108 |
2027 | 12,048 |  |  | 51,108 |
2028 | 10,382 |  |  | 65,908 |
2029 | 10,447 |  |  | 104,396 |
2030 | 9,952 |  |  | 105,233 |
Thereafter | 25,176 |  |  | 126,539 |
Total lease payments | 82,148 |  |  | 504,292 |
Less imputed interest | (17,042) |  |  | (101,232) |
Total lease obligations | 65,106 |  |  | 403,060 |
Less current obligations | (10,936) |  |  | (28,106) |
Long-term lease obligations | $ | 54,170 |  |  | $ | 374,954 |

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