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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
OPERATING ACTIVITIES:      
Net income (loss) $ (44,697) $ (240,238) $ 117,596
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 249,185 258,251 223,130
(Gain) loss on aircraft and other equipment disposals (37,664) (34,936) 920
Special charges 127,636 348,985 27,189
Share-based compensation expense 10,867 22,568 29,749
Deferred income taxes (10,177) (69,009) 38,214
Other adjustments (639) (6,290) (11,284)
Changes in certain assets and liabilities:      
Accounts receivable 12,204 4,362 29,390
Tax receivable 13,053 (5,616) 3,932
Accrued pilot retention bonus (89,758) (91,498) (54,631)
Loyalty program liability (3,079) 9,899 14,313
Air traffic liability (7,587) 17,427 (25,971)
Deferred major maintenance (44,686) (73,331) (67,862)
Other assets/liabilities 35,594 14,886 (10,855)
Net cash provided by operating activities 389,768 338,456 423,092
INVESTING ACTIVITIES:      
Purchase of investment securities (949,220) (567,299) (890,880)
Proceeds from maturities of investment securities 844,050 763,841 976,804
Proceeds from sale of Sunseeker Resort 189,936 0 0
Proceeds from sale of property and equipment 76,804 86,156 26,526
Aircraft pre-delivery deposits (72,941) (35,053) (342,167)
Purchase of property and equipment, including capitalized interest (314,664) (300,154) (528,320)
Proceeds from loan receivable 0 50,000 0
Insurance proceeds from damage to property & equipment 4,890 6,646 35,730
Other investing activities 718 1,441 430
Net cash provided by (used in) investing activities (220,427) 5,578 (721,877)
FINANCING ACTIVITIES:      
Cash dividends paid to shareholders 0 (21,934) (22,144)
Proceeds from the issuance of debt and finance lease obligations 638,926 386,975 642,581
Repurchase of common stock (13,588) (6,030) (30,078)
Principal payments on debt and finance lease obligations (906,294) (585,511) (480,818)
Debt issuance costs (11,450) (2,260) (7,116)
Proceeds from Sunseeker construction financing account 2,000 18,320 102,330
Other financing activities 9,506 9,141 8,168
Net cash provided by (used in) financing activities (280,900) (201,299) 212,923
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (111,559) 142,735 (85,862)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 302,319 159,584 245,446
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 190,760 302,319 159,584
CASH PAYMENTS/(RECEIPTS) FOR:      
Interest paid, net of amount capitalized 121,663 107,381 111,912
Income tax paid (refunds) 15,264 (8,738) (1,012)
SUPPLEMENTAL DISCLOSURE OF NONCASH TRANSACTIONS      
Right-of-use (ROU) assets acquired 2,879 1,379 8,320
Purchases of property and equipment in accrued liabilities and other $ 42,403 $ (671) $ 71,672