Republic Airways (RJET) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Entity Registrant Name	REPUBLIC AIRWAYS HOLDINGS INC
Entity Central Index Key	1,159,154
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		50,898,905

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 232.8	$ 223.9
Restricted cash	4.9	21.7
Receivables—net of allowance for doubtful accounts of $2.2 and $2.6, respectively	46.1	20.7
Inventories	62.6	60.9
Prepaid expenses and other current assets	18.8	15.6
Deferred income taxes	16.4	16.4
Total current assets	381.6	359.2
Aircraft and other equipment, net	2,948.8	2,860.9
Maintenance deposits	46.4	53.2
Intangible and other assets, net	216.8	220.7
Total assets	3,593.6	3,494
Current Liabilities:
Current portion of long-term debt	311.6	309
Accounts payable	26.8	19.3
Accrued liabilities	139.6	142.9
Total current liabilities	478	471.2
Long-term debt—less current portion	2,084.3	2,030.2
Deferred credits and other non-current liabilities	92.2	88.1
Deferred income taxes	299.1	284
Total liabilities	$ 2,953.6	$ 2,873.5
Commitments and contingencies
Stockholders' Equity:
Preferred stock, $.001 par value; 5,000,000 shares authorized; no shares issued or outstanding	$ 0	$ 0
Common stock, $.001 par value; one vote per share; 150,000,000 shares authorized; 60,473,286 and 59,821,243 shares issued and 50,898,905 and 50,024,780 shares outstanding, respectively	0	0
Additional Paid-in Capital	433.1	427.4
Treasury stock, 9,546,147 shares at cost	(183.9)	(183.9)
Accumulated other comprehensive loss	(2)	(2.2)
Accumulated Earnings	392.8	379.2
Total stockholders' equity	640	620.5
Total liabilities and stockholders' equity	$ 3,593.6	$ 3,494

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Allowance for Doubtful Accounts Receivable, Current	$ 2.2	$ 2.6
Stockholders' Equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	60,473,386	59,821,243
Common stock, shares outstanding	50,898,905	50,024,780
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Treasury Stock	9,546,147	9,546,147

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
OPERATING REVENUES:
Fixed-Fee Service	$ 334	$ 343.7	$ 1,002.1	$ 1,009.2
Other Revenue	6.5	6	17	21
Total operating revenues	340.5	349.7	1,019.1	1,030.2
OPERATING EXPENSES:
Wages and benefits	92.3	93.8	281.5	274.8
Aircraft fuel	1.6	5.1	9.2	18
Landings Fees and Airport Rents	6.6	7	18.7	20.8
Aircraft and Engine Rent	32.2	31.9	94.5	94.3
Maintenance and Repair	71.5	65.9	202.8	191.9
Insurance and taxes	4.8	5	14.6	15.9
Depreciation and amortization	46.7	43.7	139.4	127.2
Impairment and other charges	0	0	0	19.9
Other	46.7	36.5	141.2	109.4
Total operating expenses	302.4	288.9	901.9	872.2
OPERATING INCOME	38.1	60.8	117.2	158
OTHER INCOME (EXPENSE):
Interest expense	(29.8)	(30.4)	(89.9)	(90)
Fair Value Gain - restructuring asset	0	0	0	18.4
Other, net	0	0.1	1.3	0.2
Total other expense	(29.8)	(30.3)	(88.6)	(71.4)
INCOME BEFORE INCOME TAXES	8.3	30.5	28.6	86.6
INCOME TAX EXPENSE	5.4	12	15	34
NET INCOME	$ 2.9	$ 18.5	$ 13.6	$ 52.6
NET INCOME PER COMMON SHARE - BASIC	$ 0.06	$ 0.37	$ 0.27	$ 1.06
NET INCOME PER COMMON SHARE - DILUTED	$ 0.06	$ 0.35	$ 0.27	$ 1.01

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
NET INCOME	$ 2.9	$ 18.5	$ 13.6	$ 52.6
Other Comprehensive Income, net, Reclassification adjustment for loss realized on derivatives, net of tax	0.1	0.1	0.2	0.2
Total comprehensive income, net	$ 3	$ 18.6	$ 13.8	$ 52.8

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Net Cash From Operating Activities	$ 142	$ 259.4
INVESTING ACTIVITIES:
Purchase of aircraft and other equipment	(294.4)	(445.6)
Proceeds from sale of aircraft and other assets	89.9	8.6
Aircraft Deposits	(6.5)	(20)
Change in Restricted Cash	16.8	(1.8)
Net Cash Used In Investing Activities	(194.2)	(458.8)
FINANCING ACTIVITIES:
Payments on Debt	(225.3)	(213.2)
Proceeds from debt issuance and refinancing	379.3	397.1
Payments of Debt Extinguishment Costs	(91.6)	0
Proceeds from exercise of stock options	2.7	1.3
Payments for Repurchase of Common Stock	0	(2.1)
Other, net	(4)	(2.7)
Net Cash From Financing Activities	61.1	180.4
NET CHANGES IN CASH AND CASH EQUIVALENTS	8.9	(19)
Cash and Cash Equivalents, at Carrying Value - Beginning of period	223.9	276.7
Cash and Cash Equivalents, at Carrying Value - End of period	232.8	257.7
CASH PAID FOR INTEREST AND INCOME TAXES [Abstract]
Interest paid	78.8	81.6
Income taxes paid	0.6	2
Noncash Investing and Financing Items [Abstract]
other equipment acquired utilizing manufacturer credits	8.1	17.4
Manufacturer credit applied to the purchase of aircraft	$ 18.1	$ 21.2

Organization and Business

Organization and Business	9 Months Ended
	Sep. 30, 2015
Organization and Business [Abstract]
Nature of Operations [Text Block]	Organization and Business We are a Delaware holding company organized in 1996 that offers scheduled passenger services through our wholly-owned operating air carrier subsidiaries: Shuttle America Corporation ("Shuttle") and Republic Airline Inc. ("Republic"). Unless the context indicates otherwise, the terms the "Company," "we," "us," or "our" refer to Republic Airways Holdings Inc. and our subsidiaries. Certificate Consolidation During 2015, Republic completed its consolidation of all Chautauqua Airlines operations onto the Shuttle America operating certificate. All operating aircraft and related employees are now transferred to Shuttle America's operation. In the opinion of management, these financial statements reflect all adjustments that are necessary to present fairly the results of operations for the interim periods presented. All adjustments are of a normal, recurring nature unless otherwise disclosed. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 , filed February 27, 2015.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Summary Of Significant Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies Rental Income – Under the Company’s fixed-fee code-share and fixed-fee charter agreements, the Company is reimbursed an amount per aircraft designed to compensate the Company for certain aircraft ownership costs. The Company has concluded that a component of its fixed-fee service revenue under the agreements discussed above is rental income, inasmuch as the agreements identify the “right of use” of a specific type and number of aircraft over a stated period of time. The amounts deemed to be rental income during the three months ended September 30, 2015 and 2014 , were $110.1 million and $108.9 million , respectively. The amounts deemed to be rental income during the nine months ended September 30, 2015 and 2014 were $334.4 million and $322.0 million , respectively, and have been included in fixed-fee service revenues in the Company’s condensed consolidated statements of operations. Other Revenue – Other revenue primarily consists of revenue related to lease revenue for aircraft leased under operating leases. Restricted Cash – Restricted cash primarily consists of balances in escrow for our long-term charter agreement, restricted amounts for satisfying debt and lease payments due within the next year and certificates of deposit that secure certain letters of credit issued for workers' compensation claim reserves and certain airport authorities. Restricted cash is carried at cost, which management believes approximates fair value. Stockholders’ Equity – For the period from December 31, 2014 through September 30, 2015 , additional paid-in capital increased to $433.1 million from $427.4 million due to $3.0 million of stock compensation expense and $2.7 million of net proceeds for options exercised, accumulated other comprehensive loss decreased to $2.0 million from $2.2 million due to the reclassification adjustment for loss realized on derivatives, and accumulated earnings increased to $392.8 million from $379.2 million based on current year-to-date net income. Net Income Per Common Share – The following table is based on the weighted average number of common shares outstanding during the period. The following is a reconciliation of the weighted average common shares for the basic and diluted per share computations (in millions, except per share information): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic and diluted income per share: Net income 2.9 18.5 13.6 52.6 Reduction in interest expense from convertible notes (net of tax) — 0.3 — 0.8 Net income after assumed conversion $ 2.9 $ 18.8 $ 13.6 $ 53.4 Weighted-average common shares outstanding for basic net income per common share 50.9 49.9 50.6 49.8 Effect of dilutive employee stock options and restricted stock — 0.3 0.2 0.4 Effect of dilutive convertible notes — 2.8 — 2.8 Adjusted weighted-average common shares outstanding and assumed conversions for diluted net income per common share 50.9 53.0 50.8 53.0 Net income per share - Basic $ 0.06 $ 0.37 $ 0.27 $ 1.06 Net income per share - Diluted $ 0.06 $ 0.35 $ 0.27 $ 1.01 The Company excluded 2.3 million and 3.3 million employee stock options from the calculation of diluted net income per share due to their anti-dilutive impact for the three months ended September 30, 2015 and 2014 , respectively. The Company excluded 2.2 million and 3.4 million employee stock options from the calculation of diluted net income per share due to their anti-dilutive impact for the nine months ended September 30, 2015 and 2014 , respectively. As of September 30, 2014 , the Company had a convertible note with an original face value of $25.0 million and a book value of $26.4 million , net of a $1.6 million discount. This note was convertible in whole or in part, at the option of the holder, for up to 2.8 million shares of the Company’s common stock. The convertible note was redeemed during the fourth quarter of 2014 . The convertible note payable was dilutive for the three and nine months ended September 30, 2014 . Fair Value Measurements – Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures, requires disclosures about how fair value is determined for assets and liabilities and sets forth a hierarchy for which these assets and liabilities must be grouped. The Topic establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 unobservable inputs for the asset or liability. The following table sets forth information regarding the Company's assets measured at fair value on a recurring basis (in millions): Fair Value of Assets on a Recurring Basis September 30, 2015 Level 1 Level 2 Level 3 Chautauqua restructuring asset $ 66.8 $ — $ — $ 66.8 Fair Value of Assets on a Recurring Basis December 31, 2014 Level 1 Level 2 Level 3 Chautauqua restructuring asset $ 81.2 $ — $ — $ 81.2 Chautauqua restructuring asset – In October 2012, the Company restructured certain aircraft ownership obligations related to its 50 -seat regional jet platform, Chautauqua. In connection with the restructuring, the Company issued a convertible note payable with a face value of $25.0 million , provided call rights on 28 of its owned aircraft and agreed to parent company guarantees related to future minimum lease payments, among other commitments. The Company elected the fair value option under ASC 825-10, " Financial Instruments " for the agreement related to its 28 owned aircraft because management believes the fair value option provides the most accurate representation of the economic benefit of this agreement to Chautauqua in the Company's financial statements. Under the fair value option, the Company recorded an $86.4 million asset representing the combined fair value of expected future cash inflows under the agreement, net of the value of the Company's obligations attributable to the call rights on the 28 aircraft. The recurring fair value measurement of this agreement has been calculated using an income approach, which requires the use of subjective assumptions that are considered level 3 inputs. Fair values have been estimated by discounting the cash flows expected to be received over the term of the agreement, using a discount rate based on observable yields on instruments bearing comparable risks and credit worthiness of the counterparty. Critical assumptions used in the fair value measurement primarily include the amount and timing of cash inflows, the discount rate and the probability of whether the call option on the restructured aircraft will be exercised by the counterparty. A change in these assumptions could result in a significantly higher or lower fair value measurement, which would result in a gain or loss during the period in which the assumption changes. A 100 basis point change in the discount rate used would have changed the fair value of the restructuring asset by approximately $1.6 million as of September 30, 2015 . Similarly, a change in the assumed probability of whether the call option on the restructured aircraft will be exercised could result in either a gain or loss of up to $3.2 million per aircraft during the period in which that assumption changed. In March 2013 the agreement was amended, which resulted in a $12.0 million increase in the restructuring asset under the fair value option. The $12.0 million increase represents the fair value of expected future cash inflows under the amendment. In addition, this amendment resulted in a $12.0 million deferred credit that amortized as a reduction to the basis of future aircraft deliveries through the first quarter of 2015. On February 11, 2014, the Company announced the early termination of its 44 to 50 seat fixed-fee agreements with United Airlines and American Airlines, which were scheduled to terminate in 2014. These agreements began to wind-down in March 2014 and resulted in the grounding of 27 small jet aircraft. The Company notified the counterparty that 15 of the 27 aircraft to be grounded are subject to this agreement and callable by the counterparty. The Company was notified by the counterparty during the first quarter of 2014 that it did not intend to exercise its call option on these aircraft. The Company recorded a fair value gain of $18.4 million for the nine months ended September 30, 2014 , which represents the fair value of the increase in cash flows expected to be received over the remaining term of the agreement, due to the counterparty's obligation to increase its payment to the Company for aircraft that cease to have applicable capacity purchase agreement ("CPA") reimbursement rates. As of September 30, 2015 , the Company would owe approximately $51.5 million under certain circumstances of non-performance or voluntary repayment, however; the Company estimated the probability of non-performance or repayment as remote. The following is a reconciliation of the beginning and ending balances for the periods indicated of recurring fair value measurements using Level 3 inputs (in millions): Three Months Ended Chautauqua Restructuring Asset September 30, 2015 September 30, 2014 Beginning Balance $ 70.8 $ 89.8 Cash received or other (4.0 ) (1.9 ) Ending Balance $ 66.8 $ 87.9 Nine Months Ended Chautauqua Restructuring Asset September 30, 2015 September 30, 2014 Beginning Balance $ 81.2 $ 79.6 Fair value gain — 18.4 Cash received or other (14.4 ) (10.1 ) Ending Balance $ 66.8 $ 87.9 Aircraft and Other Assets Impairment – Nonrecurring – In March 2014, we recorded a $19.9 million impairment charge related to our decision to permanently park our owned E140 fleet in March 2014, impairing these aircraft to zero . ($ in millions) Nonrecurring Fair Value Measurements Using Description Nine months ended September 30, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Long-lived assets abandoned - E140 $ — $ — $ (19.9 ) Fair Value of Debt – Market risk associated with our fixed and variable rate long-term debt primarily relates to the potential change in fair value and impact to future earnings, respectively, from a change in interest rates. In the table below, the aggregate fair value of debt was based primarily on recently completed market transactions and estimates based on interest rates, maturities, credit risk, and underlying collateral and is classified primarily as level 3 within the fair value hierarchy. ($ in millions) September 30, December 31, 2015 2014 Net carrying amount $ 2,395.9 $ 2,339.2 Estimated fair value 2,177.3 2,215.0 New Accounting Pronouncements – In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606) . The objective of the update is to require the recognition of revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the transfer of promised goods or services to customers. It is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. On April 1, 2015, the FASB voted to propose a one-year deferral of the effective date. On July 9, 2015, the FASB voted to approve this deferral, permitting public organizations to apply the new revenue standard to annual reporting periods beginning after December 15, 2017. Public organizations may adopt the new revenue standard early, but not before the original public organization effective date. The Company is evaluating the impact to the consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The objective of this update is to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to the users of financial statements. It is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The Company is evaluating the impact to the consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share- Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after Requisite Service Period . The update requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to rewards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. It is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, and the impact to the consolidated financial statements is not expected to be material.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt During the nine months ended September 30, 2015 , the Company took delivery of 12 aircraft and borrowed $277.8 million secured by the aircraft. In addition, the Company sold three E190 aircraft and four Q400 aircraft for proceeds of $45.1 million and $40.4 million , respectively. The proceeds from the sale of these aircraft were used to extinguish the debt associated with these aircraft of $39.5 million and $40.4 million , respectively. On April 7 and April 24, 2015, Republic entered into Credit and Guaranty Agreements. The revolving credit facility provides that Republic may from time to time prior to certain times, borrow, repay, and reborrow loans and have letters of credit issued up to an aggregate amount of $65 million under revolving facilities, and have letters of credit issued up to an aggregate amount of $10 million under the letter of credit facility. Effective June 11, 2015, Republic, amended the April 7, Credit Facility to increase the Revolving Facility by $20 million to a total aggregate commitment of $85 million . The proceeds are available until April 7 and April 24, 2018 and will be used for refinancing certain aircraft and other general corporate purposes. The Company has drawn $74.0 million on the revolving credit facility, as of September 30, 2015. Borrowings under these agreements bear interest at a variable rate equal to the London interbank offering rate, known as LIBOR, plus a margin of 2.75% per annum, or another rate based on certain market interest rates, plus a margin of 1.75% per annum. We were in compliance with the covenants in our financing agreements at September 30, 2015.

Commitments & Contingincies

Commitments & Contingincies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies Commitments As of September 30, 2015 , the Company has firm orders to purchase 40 CS300 aircraft that have scheduled delivery dates beginning in early 2015 and continuing through 2017. In January 2014, Bombardier announced that the aircraft would not be expected into service until early 2016. The Company has stopped making pre-delivery deposit payments on these aircraft. The Company also has a commitment for 55 Embraer E175 aircraft (of which six have been delivered as of September 30, 2015 ) under the United brand that have scheduled delivery dates currently and through the third quarter of 2017. In addition, the Company has a commitment for six Embraer E175 aircraft under the US Airways/American brand that have scheduled delivery dates between the fourth quarter of 2015 and the first quarter of 2016. The Company also has a commitment to acquire 11 spare aircraft engines (of which five have been delivered as of September 30, 2015 ). In the first quarter of 2015, the Company signed additional agreements for 10 spare aircraft engines (of which none have been delivered as of September 30, 2015 ). The Company expects to take delivery of all engines as follows: four engines in 2015, seven engines in 2016, and five engines in 2017. The following table displays the Company's future contractual obligations for aircraft and other equipment under firm order (in millions): Payments Due by Period Beyond 2015 2016 2017 2018 2019 2020 Total Debt or lease financed aircraft under purchase obligations (1) $ 307.8 $ 2,702.9 $ 1,211.5 $ — $ — $ — $ 4,222.2 Engines under firm orders 26.5 47.2 34.7 — — — 108.4 Total contractual obligations for aircraft and engines $ 334.3 $ 2,750.1 $ 1,246.2 $ — $ — $ — $ 4,330.6 (1) Represents delivery of CS300s based on estimated availability date of early 2016. The information in the table above reflects a purchase price of the aircraft at projected delivery dates. The Company had aircraft return costs of $2.0 million and $11.2 million for the three and nine months ended September 30, 2015, respectively. These costs were associated with the transition of Q400 and E190 aircraft, which is included in other operating expense. Contingencies We are subject to certain legal and administrative actions which we consider routine to our business activities. Management believes that the ultimate outcome of any pending legal matters will not have a material adverse effect on our financial position, liquidity or results of operations. As of September 30, 2015 , approximately 70% of the Company's workforce is employed under union contracts. The union contract for our pilots is currently amendable. Although we have never had a work interruption or stoppage, we are subject to risks of work interruption or stoppage and/or may incur additional administrative expenses associated with union representation of our employees. If we are unable to reach agreement with any of our unionized work groups on the amended terms of their collective bargaining agreements, we may be subject to work interruptions and/or stoppages. Any sustained work stoppages could adversely affect our ability to fulfill our obligations under our fixed-fee agreements and could have a material adverse effect on our financial condition and results of operations. On October 27, 2015, the IBT Local 357 voted by a margin of 76% to ratify a new three -year contract, with approximately 90% of the eligible pilots voting. The three -year agreement became effective on its date of signing, October 29, 2015. The agreement costs approximately $50.0 million per year on average over the three -year duration of the agreement, including both the ratification bonus and the anniversary bonus. The ratification bonus of approximately $17.0 million will be paid during the fourth quarter of 2015; and the anniversary bonus, currently estimated at approximately $14.0 million is expected to be paid during the fourth quarter of 2016. Primarily as a result of pilot supply constraints caused by industry regulatory changes and the pilot labor dispute between the Company and Local 357, the Company's ability to meet its operational and financial targets in 2015 has been adversely affected. In order to address the effects of its pilot shortage, the Company is working with its CPA partners to reduce levels of flying during the second half of 2015 and beyond. In connection with this effort the Company is seeking to restructure its operational and contractual commitments. There can be no assurance that these efforts to reach consensual agreements with its stakeholders will be successful or that such agreements will fully restore the Companies operational and financial performance. On October 5, 2015, Delta Air Lines, Inc. (Delta) filed suit against the Company alleging that the Company was in breach of its contractual obligations under both Delta Connection Agreements. Delta alleges, among other things, that Shuttle America breached the Agreements by failing to operate all of Delta's flights, and claims damages. We believe the allegations are unfounded and without merit and intend to pursue our rights, remedies and defenses in the litigation. Delta has withheld in excess of $10.0 million of contractual payments through September 30, 2015, which has resulted in past due receivables on the Company's balance sheet. The Company disputes Delta's right to withhold payments and intends to seek their recovery. The Company has deferred recognition of this revenue until this dispute can be resolved. On October 22, 2015, Bombardier Commercial Aircraft (“Bombardier”) delivered a notice to the Company purporting to terminate, effective, October 31, 2015, the Smart Parts Q400 Agreement between the Company and Bombardier and the Q400 Onsite Inventory Agreement between the Company and an affiliate of Bombardier. The Company disputes Bombardier’s right to terminate and has filed an action against Bombardier in United States District Court for the Southern District of New York and its affiliate seeking a declaratory judgment that Bombardier’s termination is invalid and a permanent injunction enjoining Bombardier from terminating the agreements based on its October 22, 2015 notice. The Company also moved for a temporary restraining order and preliminary injunction enjoining Bombardier from terminating the agreements pending resolution of such action. On October 28, 2015, the Court in the action entered an order based on Bombardier’s stipulation which prohibits Bombardier from terminating the agreements and from removing any of the parts covered by the agreements pending the Court’s decision on the Company’s preliminary injunction motion. A hearing on the Company’s preliminary injunction motion is currently scheduled for November 17, 2015. The termination of this agreement would have adverse affects on the Company's ability to perform under the United Airlines, Inc. Q400 capacity purchase agreement.

Significant Accounting Polici11

Significant Accounting Policies Significant Accounting (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
fixed fee service revenues [Policy Text Block]	Rental Income – Under the Company’s fixed-fee code-share and fixed-fee charter agreements, the Company is reimbursed an amount per aircraft designed to compensate the Company for certain aircraft ownership costs. The Company has concluded that a component of its fixed-fee service revenue under the agreements discussed above is rental income, inasmuch as the agreements identify the “right of use” of a specific type and number of aircraft over a stated period of time. The amounts deemed to be rental income during the three months ended September 30, 2015 and 2014 , were $110.1 million and $108.9 million , respectively. The amounts deemed to be rental income during the nine months ended September 30, 2015 and 2014 were $334.4 million and $322.0 million , respectively, and have been included in fixed-fee service revenues in the Company’s condensed consolidated statements of operations.
other revenue policy text block [Policy Text Block]	Other Revenue – Other revenue primarily consists of revenue related to lease revenue for aircraft leased under operating leases.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash – Restricted cash primarily consists of balances in escrow for our long-term charter agreement, restricted amounts for satisfying debt and lease payments due within the next year and certificates of deposit that secure certain letters of credit issued for workers' compensation claim reserves and certain airport authorities. Restricted cash is carried at cost, which management believes approximates fair value.
Earnings Per Share, Policy [Policy Text Block]	Net Income Per Common Share – The following table is based on the weighted average number of common shares outstanding during the period. The following is a reconciliation of the weighted average common shares for the basic and diluted per share computations (in millions, except per share information): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic and diluted income per share: Net income 2.9 18.5 13.6 52.6 Reduction in interest expense from convertible notes (net of tax) — 0.3 — 0.8 Net income after assumed conversion $ 2.9 $ 18.8 $ 13.6 $ 53.4 Weighted-average common shares outstanding for basic net income per common share 50.9 49.9 50.6 49.8 Effect of dilutive employee stock options and restricted stock — 0.3 0.2 0.4 Effect of dilutive convertible notes — 2.8 — 2.8 Adjusted weighted-average common shares outstanding and assumed conversions for diluted net income per common share 50.9 53.0 50.8 53.0 Net income per share - Basic $ 0.06 $ 0.37 $ 0.27 $ 1.06 Net income per share - Diluted $ 0.06 $ 0.35 $ 0.27 $ 1.01 The Company excluded 2.3 million and 3.3 million employee stock options from the calculation of diluted net income per share due to their anti-dilutive impact for the three months ended September 30, 2015 and 2014 , respectively. The Company excluded 2.2 million and 3.4 million employee stock options from the calculation of diluted net income per share due to their anti-dilutive impact for the nine months ended September 30, 2015 and 2014 , respectively. As of September 30, 2014 , the Company had a convertible note with an original face value of $25.0 million and a book value of $26.4 million , net of a $1.6 million discount. This note was convertible in whole or in part, at the option of the holder, for up to 2.8 million shares of the Company’s common stock. The convertible note was redeemed during the fourth quarter of 2014 . The convertible note payable was dilutive for the three and nine months ended September 30, 2014 .
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements – Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures, requires disclosures about how fair value is determined for assets and liabilities and sets forth a hierarchy for which these assets and liabilities must be grouped. The Topic establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 unobservable inputs for the asset or liability. The following table sets forth information regarding the Company's assets measured at fair value on a recurring basis (in millions): Fair Value of Assets on a Recurring Basis September 30, 2015 Level 1 Level 2 Level 3 Chautauqua restructuring asset $ 66.8 $ — $ — $ 66.8 Fair Value of Assets on a Recurring Basis December 31, 2014 Level 1 Level 2 Level 3 Chautauqua restructuring asset $ 81.2 $ — $ — $ 81.2 Chautauqua restructuring asset – In October 2012, the Company restructured certain aircraft ownership obligations related to its 50 -seat regional jet platform, Chautauqua. In connection with the restructuring, the Company issued a convertible note payable with a face value of $25.0 million , provided call rights on 28 of its owned aircraft and agreed to parent company guarantees related to future minimum lease payments, among other commitments. The Company elected the fair value option under ASC 825-10, " Financial Instruments " for the agreement related to its 28 owned aircraft because management believes the fair value option provides the most accurate representation of the economic benefit of this agreement to Chautauqua in the Company's financial statements. Under the fair value option, the Company recorded an $86.4 million asset representing the combined fair value of expected future cash inflows under the agreement, net of the value of the Company's obligations attributable to the call rights on the 28 aircraft. The recurring fair value measurement of this agreement has been calculated using an income approach, which requires the use of subjective assumptions that are considered level 3 inputs. Fair values have been estimated by discounting the cash flows expected to be received over the term of the agreement, using a discount rate based on observable yields on instruments bearing comparable risks and credit worthiness of the counterparty. Critical assumptions used in the fair value measurement primarily include the amount and timing of cash inflows, the discount rate and the probability of whether the call option on the restructured aircraft will be exercised by the counterparty. A change in these assumptions could result in a significantly higher or lower fair value measurement, which would result in a gain or loss during the period in which the assumption changes. A 100 basis point change in the discount rate used would have changed the fair value of the restructuring asset by approximately $1.6 million as of September 30, 2015 . Similarly, a change in the assumed probability of whether the call option on the restructured aircraft will be exercised could result in either a gain or loss of up to $3.2 million per aircraft during the period in which that assumption changed. In March 2013 the agreement was amended, which resulted in a $12.0 million increase in the restructuring asset under the fair value option. The $12.0 million increase represents the fair value of expected future cash inflows under the amendment. In addition, this amendment resulted in a $12.0 million deferred credit that amortized as a reduction to the basis of future aircraft deliveries through the first quarter of 2015. On February 11, 2014, the Company announced the early termination of its 44 to 50 seat fixed-fee agreements with United Airlines and American Airlines, which were scheduled to terminate in 2014. These agreements began to wind-down in March 2014 and resulted in the grounding of 27 small jet aircraft. The Company notified the counterparty that 15 of the 27 aircraft to be grounded are subject to this agreement and callable by the counterparty. The Company was notified by the counterparty during the first quarter of 2014 that it did not intend to exercise its call option on these aircraft. The Company recorded a fair value gain of $18.4 million for the nine months ended September 30, 2014 , which represents the fair value of the increase in cash flows expected to be received over the remaining term of the agreement, due to the counterparty's obligation to increase its payment to the Company for aircraft that cease to have applicable capacity purchase agreement ("CPA") reimbursement rates. As of September 30, 2015 , the Company would owe approximately $51.5 million under certain circumstances of non-performance or voluntary repayment, however; the Company estimated the probability of non-performance or repayment as remote. The following is a reconciliation of the beginning and ending balances for the periods indicated of recurring fair value measurements using Level 3 inputs (in millions): Three Months Ended Chautauqua Restructuring Asset September 30, 2015 September 30, 2014 Beginning Balance $ 70.8 $ 89.8 Cash received or other (4.0 ) (1.9 ) Ending Balance $ 66.8 $ 87.9 Nine Months Ended Chautauqua Restructuring Asset September 30, 2015 September 30, 2014 Beginning Balance $ 81.2 $ 79.6 Fair value gain — 18.4 Cash received or other (14.4 ) (10.1 ) Ending Balance $ 66.8 $ 87.9 Aircraft and Other Assets Impairment – Nonrecurring – In March 2014, we recorded a $19.9 million impairment charge related to our decision to permanently park our owned E140 fleet in March 2014, impairing these aircraft to zero . ($ in millions) Nonrecurring Fair Value Measurements Using Description Nine months ended September 30, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Long-lived assets abandoned - E140 $ — $ — $ (19.9 ) Fair Value of Debt – Market risk associated with our fixed and variable rate long-term debt primarily relates to the potential change in fair value and impact to future earnings, respectively, from a change in interest rates. In the table below, the aggregate fair value of debt was based primarily on recently completed market transactions and estimates based on interest rates, maturities, credit risk, and underlying collateral and is classified primarily as level 3 within the fair value hierarchy. ($ in millions) September 30, December 31, 2015 2014 Net carrying amount $ 2,395.9 $ 2,339.2 Estimated fair value 2,177.3 2,215.0
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements – In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606) . The objective of the update is to require the recognition of revenue in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the transfer of promised goods or services to customers. It is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. On April 1, 2015, the FASB voted to propose a one-year deferral of the effective date. On July 9, 2015, the FASB voted to approve this deferral, permitting public organizations to apply the new revenue standard to annual reporting periods beginning after December 15, 2017. Public organizations may adopt the new revenue standard early, but not before the original public organization effective date. The Company is evaluating the impact to the consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The objective of this update is to identify, evaluate, and improve areas of generally accepted accounting principles (GAAP) for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to the users of financial statements. It is effective for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years. The Company is evaluating the impact to the consolidated financial statements. In June 2014, the FASB issued ASU 2014-12, Compensation - Stock Compensation (Topic 718): Accounting for Share- Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after Requisite Service Period . The update requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718 as it relates to rewards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. It is effective for annual periods and interim periods within those annual periods beginning after December 15, 2015, and the impact to the consolidated financial statements is not expected to be material.

Significant Accounting Polici12

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Summary Of Significant Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net Income Per Common Share – The following table is based on the weighted average number of common shares outstanding during the period. The following is a reconciliation of the weighted average common shares for the basic and diluted per share computations (in millions, except per share information): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Basic and diluted income per share: Net income 2.9 18.5 13.6 52.6 Reduction in interest expense from convertible notes (net of tax) — 0.3 — 0.8 Net income after assumed conversion $ 2.9 $ 18.8 $ 13.6 $ 53.4 Weighted-average common shares outstanding for basic net income per common share 50.9 49.9 50.6 49.8 Effect of dilutive employee stock options and restricted stock — 0.3 0.2 0.4 Effect of dilutive convertible notes — 2.8 — 2.8 Adjusted weighted-average common shares outstanding and assumed conversions for diluted net income per common share 50.9 53.0 50.8 53.0 Net income per share - Basic $ 0.06 $ 0.37 $ 0.27 $ 1.06 Net income per share - Diluted $ 0.06 $ 0.35 $ 0.27 $ 1.01
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The following table sets forth information regarding the Company's assets measured at fair value on a recurring basis (in millions): Fair Value of Assets on a Recurring Basis September 30, 2015 Level 1 Level 2 Level 3 Chautauqua restructuring asset $ 66.8 $ — $ — $ 66.8 Fair Value of Assets on a Recurring Basis December 31, 2014 Level 1 Level 2 Level 3 Chautauqua restructuring asset $ 81.2 $ — $ — $ 81.2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following is a reconciliation of the beginning and ending balances for the periods indicated of recurring fair value measurements using Level 3 inputs (in millions): Three Months Ended Chautauqua Restructuring Asset September 30, 2015 September 30, 2014 Beginning Balance $ 70.8 $ 89.8 Cash received or other (4.0 ) (1.9 ) Ending Balance $ 66.8 $ 87.9 Nine Months Ended Chautauqua Restructuring Asset September 30, 2015 September 30, 2014 Beginning Balance $ 81.2 $ 79.6 Fair value gain — 18.4 Cash received or other (14.4 ) (10.1 ) Ending Balance $ 66.8 $ 87.9
Fair Value Measurements, Nonrecurring [Table Text Block]	Aircraft and Other Assets Impairment – Nonrecurring – In March 2014, we recorded a $19.9 million impairment charge related to our decision to permanently park our owned E140 fleet in March 2014, impairing these aircraft to zero . ($ in millions) Nonrecurring Fair Value Measurements Using Description Nine months ended September 30, 2014 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Gains (Losses) Long-lived assets abandoned - E140 $ — $ — $ (19.9 )
Fair Value, by Balance Sheet Grouping [Table Text Block]	Fair Value of Debt – Market risk associated with our fixed and variable rate long-term debt primarily relates to the potential change in fair value and impact to future earnings, respectively, from a change in interest rates. In the table below, the aggregate fair value of debt was based primarily on recently completed market transactions and estimates based on interest rates, maturities, credit risk, and underlying collateral and is classified primarily as level 3 within the fair value hierarchy. ($ in millions) September 30, December 31, 2015 2014 Net carrying amount $ 2,395.9 $ 2,339.2 Estimated fair value 2,177.3 2,215.0

Commitments & Contingincies (Ta

Commitments & Contingincies (Tables)	9 Months Ended
	Sep. 30, 2015
Unrecorded Unconditional Purchase Obligation [Line Items]
Unrecorded Unconditional Purchase Obligations Disclosure [Table Text Block]	The following table displays the Company's future contractual obligations for aircraft and other equipment under firm order (in millions): Payments Due by Period Beyond 2015 2016 2017 2018 2019 2020 Total Debt or lease financed aircraft under purchase obligations (1) $ 307.8 $ 2,702.9 $ 1,211.5 $ — $ — $ — $ 4,222.2 Engines under firm orders 26.5 47.2 34.7 — — — 108.4 Total contractual obligations for aircraft and engines $ 334.3 $ 2,750.1 $ 1,246.2 $ — $ — $ — $ 4,330.6 (1) Represents delivery of CS300s based on estimated availability date of early 2016. The information in the table above reflects a purchase price of the aircraft at projected delivery dates.

Significant Accounting Polici14

Significant Accounting Policies (Details) Text - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Accounting Policies [Abstract]
Fixed-Fee Rental Income	$ 110.1	$ 108.9	$ 334.4	$ 322
Additional Paid-in Capital	433.1		433.1		$ 427.4
Share-based Compensation			3
Proceeds from exercise of stock options			2.7	$ 1.3
Accumulated other comprehensive loss	2		2		2.2
Accumulated Earnings	$ 392.8		$ 392.8		$ 379.2

Significant Accounting Polici15

Significant Accounting Policies (Details) EPS - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary Of Significant Accounting Policies [Abstract]
NET INCOME	$ 2.9	$ 18.5	$ 13.6	$ 52.6
Interest on Convertible Debt, Net of Tax	0	0.3	0	0.8
Net Income (Loss) Available to Common Stockholders, Diluted	$ 2.9	$ 18.8	$ 13.6	$ 53.4
Weighted average number of shares outstanding	50.9	49.9	50.6	49.8
Incremental Common Shares Attributable to Share-based Payment Arrangements	0	0.3	0.2	0.4
Stock Issued During Period, Shares, Conversion of Convertible Securities	0	2.8	0	2.8
Shares used to computed diluted earnings per share	50.9	53	50.8	53
NET INCOME PER COMMON SHARE - BASIC	$ 0.06	$ 0.37	$ 0.27	$ 1.06
NET INCOME PER COMMON SHARE - DILUTED	$ 0.06	$ 0.35	$ 0.27	$ 1.01
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2.3	3.3	2.2	3.4
Convertible Notes Payable - EMB Fair Value		$ 25		$ 25
convertible note payable - EMB book value		26.4		26.4
convertible note discount		$ 1.6		$ 1.6
EMB - Convertible Debt - shares		2.8		2.8

Significant Accounting Polici16

Significant Accounting Policies (Details) Fair Value $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2015USD ($)AircraftSeats	Sep. 30, 2014USD ($)	Mar. 31, 2013USD ($)	Sep. 30, 2015USD ($)AircraftSeats	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Derivative Asset, Fair Value, Gross Asset	$ 66.8			$ 66.8		$ 81.2
Chautauqua Seats on Aircraft | Seats	50			50
CHQ restructuring call rights provided on owned aircraft | Aircraft	28			28
Debt Instrument, Interest Rate, Stated Percentage	1.00%			1.00%
change in fair value of the restructuring asset per a 100 basis point change in discount rate	$ 1.6			$ 1.6
possible gain or loss if there is a change in assumed probability of call option on restructured aircrat	$ 3.2			$ 3.2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3			$ 12
Seats on E140 aircraft under CPA with American | Seats	44			44
Seats on E145 aircraft under CPA that were operating for United | Seats	50			50
Number of E140 and E145 aircraft which were grounded during the year | Aircraft	27
number of E140 aircraft permanently parked | Aircraft	15
Fair Value Gain - restructuring asset	$ 0	$ 0		$ 0	$ 18.4
CHQ Restructuring - possible voluntary repayment under circumstances of non-performance				51.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value (begin)	70.8	89.8	$ 86.4	81.2	79.6
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	(4)	(1.9)		(14.4)	(10.1)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value (end)	66.8	87.9		66.8	87.9
asset impairment charge for aircraft and related inventory - E140					(19.9)
assets, fair value disclosure - E140		$ 0			$ 0
Long-term Debt, net carrying amount	2,395.9			2,395.9		2,339.2
Long-term Debt, Fair Value	2,177.3			2,177.3		2,215
Fair Value, Inputs, Level 1 [Member]
Derivative Asset, Fair Value, Gross Asset	0			0		0
Fair Value, Inputs, Level 2 [Member]
Derivative Asset, Fair Value, Gross Asset	0			0		0
Fair Value, Inputs, Level 3 [Member]
Derivative Asset, Fair Value, Gross Asset	$ 66.8			$ 66.8		$ 81.2

Debt Details (Details)

Debt Details (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)Aircraft	Jun. 11, 2015USD ($)	Apr. 24, 2015USD ($)	Apr. 07, 2015USD ($)
Debt Disclosure [Abstract]
number of AA 175 aircraft delivered | Aircraft	12
proceeds from debt for american	$ 277.8
Number of E190 Aircraft sold in Q1 2015 | Aircraft	3
Number of Q400 Aircraft sold in Q2 2015 | Aircraft	4
Proceeds from sale of aircraft and other assets	$ 45.1
proceeds from sale of Q400 aircraft	40.4
Payments on early extinguishment of debt and refinancing	39.5
extinguishment of debt related to Q400 sale	40.4
Commitment for Revolving Facilities			$ 65
Commitment for letter of credit facility				$ 10
Line of Credit Facility, Increase (Decrease), Net	20
Total LOC Commitment Amount		$ 85
Long-term Line of Credit	$ 74
interest rate margin			1.75%	2.75%

Commitments & Contingincies (De

Commitments & Contingincies (Details) Committments Table $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)AircraftEngines	Sep. 30, 2015USD ($)AircraftEngines
Long-term Purchase Commitment [Line Items]
Firm Purchase Orders for CS300 Aircraft | Aircraft	40	40
Number of E175 aircraft to operate under United brand | Aircraft	55	55
Number of Aircraft delivered for United CPA | Aircraft	6	6
Number of E175 aircraft to operate under US Airways/American brand | Aircraft	6	6
Number of Spare Aircraft Engines under commitment | Engines	11	11
Number of engines delivered | Engines	5	5
Number of spare aircraft engines under the Q1 2015 commitment to acquire in the future | Engines	10	10
Number of spare engines relating to the Q1 2015 commitment which were received | Engines	0	0
Number of engines to be delivered in year one | Engines	4	4
Number of Engines to be Delivered in Year Two | Engines	7	7
Number of Engines to be Delivered in Year Three | Engines	5	5
Unrecorded Unconditional Purchase Obligation for Aircraft due within one year	$ 307.8	$ 307.8
Unrecorded Unconditional Purchase Obligation for Aircraft due within two years	2,702.9	2,702.9
Unrecorded Unconditional Purchase Obligation for Aircraft due within three years	1,211.5	1,211.5
Unrecorded Unconditional Purchase Obligation for Aircraft due within four years	0	0
Unrecorded Unconditional Purchase Obligation for Aircraft due within five years	0	0
Unrecorded Unconditional Purchase Obligation for Aircraft due after five years	0	0
Unrecorded Unconditional Purchase Obligation for Aircraft	4,222.2	4,222.2
unconditional purchase obligations for engines, due within one year	26.5	26.5
Unrecorded Unconditional Purchase Obligation for Engines, due within two years	47.2	47.2
Unrecorded Unconditional Purchase Obligation for Engines, due within three years	34.7	34.7
Unrecorded Unconditional Purchase Obligation for Engines, due within four years	0	0
Unrecorded Unconditional Purchase Obligation for Engines, due within five year	0	0
Unrecorded Unconditional Purchase Obligation for Engines, due after five year	0	0
Unrecorded Unreconciled Purchase Obligation for Engines, Total	108.4	108.4
Unrecorded Unconditional Purchase Obligation, Due within One Year	334.3	334.3
Unrecorded Unconditional Purchase Obligation, Due within Two Years	2,750.1	2,750.1
Unrecorded Unconditional Purchase Obligation, Due within Three Years	1,246.2	1,246.2
Unrecorded Unconditional Purchase Obligation, Due within Four Years	0	0
Unrecorded Unconditional Purchase Obligation, Due within Five Years	0	0
Unrecorded Unconditional Purchase Obligation, Due after Five Years	0	0
Unrecorded Unconditional Purchase Obligation	4,330.6	4,330.6
Amount of aircraft return costs associated with the transition of Q400 and E190 aircraft	$ 2	$ 11.2

Commitments & Contingincies (19

Commitments & Contingincies (Details) Contingencies - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Oct. 27, 2015
Subsequent Event [Line Items]
Number of years proposed in the pilot labor agreement	3 years
Deferred Revenue Delta Agreement	$ 10
Union Employees	70.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
percentage of approved labor votes		76.00%
Percent of pilots that voted		90.00%
Average cost per year of pilot deal		$ 50
Ratification bonus		17
Anniversary Bonus		$ 14