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Leases (Tables)
 12 Months Ended
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 Income202520242023
Finance lease costs:
Amortization of assetsDepreciation and amortization$24,013 $23,855 $27,170 
Interest on lease liabilitiesInterest expense24,505 25,994 27,502 
Operating lease costAircraft lease rentals; Station operations; Maintenance and repairs; Other operating expense25,250 26,178 25,246 
Variable lease cost(1)
Aircraft lease rentals; Station operations; Maintenance and repairs; Other operating expense13,509 492 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 Sheet20252024
Assets
Operating lease assetsOperating lease right-of-use assets, net$63,389 $81,218 
Finance lease assetsProperty and equipment, net of accumulated depreciation403,783 427,664 
Total lease assets$467,172 $508,882 
Liabilities
Current
OperatingCurrent operating lease liabilities$10,936 $20,714 
FinanceCurrent maturities of long-term debt and finance lease obligations28,106 26,836 
Noncurrent
OperatingNoncurrent operating lease liabilities54,170 62,392 
FinanceLong-term debt and finance lease obligations374,954 403,060 
Total lease liabilities$468,166 $513,002 
Weighted-average remaining lease term
Operating leases7.6 years7.2 years
Finance leases5.1 years6.1 years
Weighted-average discount rate
Operating leases5.7 %5.6 %
Finance leases5.9 %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)202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$24,545 $26,679 $25,774 
Operating cash flows for finance leases24,572 26,056 27,672 
Financing cash flows for finance leases26,836 25,352 39,044 
Income Taxes Paid (Refunded)
Year ended December 31,
(in thousands)202520242023
Federal$(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 LeasesFinance Leases
2026$14,143 $51,108 
202712,048 51,108 
202810,382 65,908 
202910,447 104,396 
20309,952 105,233 
Thereafter25,176 126,539 
Total lease payments82,148 504,292 
Less imputed interest(17,042)(101,232)
Total lease obligations65,106 403,060 
Less current obligations(10,936)(28,106)
Long-term lease obligations$54,170 $374,954