DEBT (Tables)

3 Months Ended

Jun. 30, 2015

Debt as of June 30 and March 31, 2015 consisted of the following (in thousands):



	June 30, 2015			March 31, 2015
6¼% Senior Notes due 2022	$	401,535		$	401,535
Term Loan	346,084			222,179
3% Convertible Senior Notes due 2038, including zero and $0.9 million of unamortized discount, respectively	1,869			114,109
Revolving Credit Facility	155,000			83,800
Airnorth debt	21,929			23,119
Eastern Airways debt	18,784			19,680
Total debt	945,201			864,422
Less short-term borrowings and current maturities of long-term debt	(26,954		)	(18,730		)
Total long-term debt	$	918,247		$	845,692

The balances of the debt and equity components of the 3% Convertible Senior Notes as of each period presented are as follows (in thousands):



	June 30, 2015		March 31, 2015
Equity component – net carrying value	$	14,905	$	14,905
Debt component:
Face amount due at maturity	$	1,869	$	115,000
Unamortized discount	—		(891		)
Debt component – net carrying value	$	1,869	$	114,109

Interest expense related to our 3% Convertible Senior Notes for the three months ended June 30, 2015 and 2014 was as follows (in thousands):



	Three Months Ended June 30,
	2015		2014
Contractual coupon interest	$	718	$	863
Amortization of debt discount	891		1,019
Total interest expense	$	1,609	$	1,882