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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 172,696 $ 285,892
Restricted cash 18,064 16,427
Short-term investments 632,959 495,234
Accounts receivable 57,110 90,407
Expendable parts, supplies and fuel, net of reserve of $14,691 and $12,597 34,431 36,070
Prepaid expenses and other current assets 52,393 67,575
TOTAL CURRENT ASSETS 967,653 991,605
Property and equipment (including $101,712 and $107,290 from VIEs, Note 6), net of accumulated depreciation of $1,178,315 and $1,067,194 2,947,536 3,069,949
Long-term investments 32,823 51,725
Deferred major maintenance, net of accumulated amortization of $170,226 and $165,333 148,506 173,892
Operating lease right-of-use assets, net 63,389 81,218
Deposits and other assets 49,494 61,464
TOTAL ASSETS: 4,209,401 4,429,853
CURRENT LIABILITIES    
Accounts payable 64,506 62,092
Accrued liabilities 186,019 181,275
Accrued pilot retention bonus 235,887 146,129
Current operating lease liabilities 10,936 20,714
Air traffic liability 363,328 370,915
Current loyalty program liability 39,711 41,510
Current maturities of long-term debt and finance lease obligations (including $13,307 and $12,787 from VIEs, Note 6), net of related costs of $4,245 and $8,287 118,075 454,769
TOTAL CURRENT LIABILITIES 1,018,462 1,277,404
LONG-TERM DEBT AND OTHER NONCURRENT LIABILITIES    
Long-term debt and finance lease obligations (including $81,642 and $94,950 from VIEs, Note 6), net of current maturities and related costs of $12,404 and $8,842 1,681,541 1,611,735
Deferred income taxes 305,416 315,593
Noncurrent operating lease liabilities 54,170 62,392
Noncurrent loyalty program liability 37,921 39,201
Other noncurrent liabilities 59,214 34,136
TOTAL LIABILITIES: 3,156,724 3,340,461
SHAREHOLDERS' EQUITY    
Common stock, par value $0.001, 100,000,000 shares authorized; 25,559,128 and 25,580,445 shares issued; 18,377,737 and 18,407,799 shares outstanding at December 31 2025 and 2024, respectively 26 26
Treasury shares, at cost, 7,181,391 and 7,172,646 shares at December 31, 2025 and 2024, respectively (682,511) (678,431)
Additional paid-in capital 771,967 760,600
Accumulated other comprehensive income, net 4,644 3,949
Retained earnings 958,551 1,003,248
TOTAL EQUITY: 1,052,677 1,089,392
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY: $ 4,209,401 $ 4,429,853