Hawaiian (HA) 10-Q 22 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 15, 2016
Document and Entity Information
Entity Registrant Name	HAWAIIAN HOLDINGS INC
Entity Central Index Key	1,172,222
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		53,418,311

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating Revenue:
Passenger	$ 518,572	$ 499,387	$ 1,000,599	$ 968,532
Other	76,018	71,908	145,171	143,043
Total	594,590	571,295	1,145,770	1,111,575
Operating Expenses:
Aircraft fuel, including taxes and delivery	83,798	112,519	153,698	223,846
Wages and benefits	135,883	123,977	269,526	243,991
Aircraft rent	30,066	28,817	59,454	57,188
Maintenance, materials and repairs	54,585	57,071	115,089	112,316
Aircraft and passenger servicing	30,723	29,348	59,274	57,664
Commissions and other selling	31,425	30,484	64,456	60,912
Depreciation and amortization	26,988	27,537	54,134	52,716
Other rentals and landing fees	24,978	23,248	49,412	46,079
Purchased services	24,543	19,842	47,275	41,081
Other	32,731	27,036	62,714	53,202
Total	475,720	479,879	935,032	948,995
Operating Income	118,870	91,416	210,738	162,580
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(8,910)	(13,718)	(19,914)	(29,236)
Interest income	1,087	725	1,931	1,361
Capitalized interest	463	975	688	2,268
Gains on fuel derivatives	21,087	2,026	19,022	(3,661)
Loss on extinguishment of debt	(6,643)	(287)	(9,993)	(7,242)
Other, net	2,686	(1,876)	9,272	(4,810)
Total	9,770	(12,155)	1,006	(41,320)
Income Before Income Taxes	128,640	79,261	211,744	121,260
Income tax expense	49,070	30,427	80,708	46,543
Net Income	$ 79,570	$ 48,834	$ 131,036	$ 74,717
Net Income Per Share
Basic (in dollars per share)	$ 1.48	$ 0.89	$ 2.45	$ 1.37
Diluted (in dollars per share)	$ 1.48	$ 0.79	$ 2.43	$ 1.18

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net Income	$ 79,570	$ 48,834	$ 131,036	$ 74,717
Other comprehensive income (loss), net:
Net change related to employee benefit plans, net of tax expense	1,228	1,699	2,155	3,357
Net change in derivative instruments, net of tax benefit	(7,080)	(1,475)	(15,308)	(2,277)
Net change in available-for-sale investments, net of tax expense	151	(124)	683	180
Total other comprehensive income (loss)	(5,701)	100	(12,470)	1,260
Total Comprehensive Income	$ 73,869	$ 48,934	$ 118,566	$ 75,977

Consolidated Statements of Com4

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net change related to employee benefit plans, net of tax expense	$ 745	$ 1,037	$ 1,315	$ 2,046
Net change in derivative instruments, net of tax benefit	4,309	898	9,316	1,386
Net change in available-for-sale investments, net of tax expense	$ 93	$ (75)	$ 416	$ 110

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 355,467	$ 281,502
Restricted cash	5,000	5,000
Short-term investments	266,345	278,545
Accounts receivable, net	93,432	81,723
Spare parts and supplies, net	18,150	19,164
Prepaid expenses and other	53,788	75,050
Total	792,182	740,984
Property and equipment, less accumulated depreciation and amortization of $477,615 and $432,510 as of June 30, 2016 and December 31, 2015, respectively	1,574,824	1,552,742
Other Assets:
Long-term prepayments and other	69,792	70,873
Intangible assets, less accumulated amortization of $29,684 and $28,400 as of June 30, 2016 and December 31, 2015, respectively	17,876	18,660
Goodwill	106,663	106,663
Total Assets	2,561,337	2,489,922
Current Liabilities:
Accounts payable	114,396	101,310
Air traffic liability	557,851	430,766
Other accrued liabilities	121,775	160,258
Current maturities of long-term debt and capital lease obligations	58,352	74,441
Total	852,374	766,775
Long-Term Debt and Capital Lease Obligations	527,625	677,915
Other Liabilities and Deferred Credits:
Accumulated pension and other postretirement benefit obligations	373,572	372,700
Other liabilities and deferred credits	100,405	89,845
Deferred tax liability, net	141,249	136,625
Total	615,226	599,170
Commitments and Contingencies
Shareholders’ Equity:
Special preferred stock, $0.01 par value per share, three shares issued and outstanding as of June 30, 2016 and December 31, 2015	0	0
Common stock, $0.01 par value per share, 53,444,283 and 53,401,439 shares outstanding as of June 30, 2016 and December 31, 2015, respectively	535	534
Capital in excess of par value	125,574	124,091
Accumulated income	551,750	420,714
Accumulated other comprehensive loss, net	(111,747)	(99,277)
Total	566,112	446,062
Total Liabilities and Shareholders’ Equity	$ 2,561,337	$ 2,489,922

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 477,615	$ 432,510
Intangible assets, accumulated amortization	$ 29,684	$ 28,400
Special preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Special preferred stock, shares issued	3	3
Special preferred stock, shares outstanding	3	3
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares outstanding	53,516,342	53,401,439

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Cash Flows [Abstract]
Net cash provided by Operating Activities	$ 285,466	$ 297,520
Cash flows from Investing Activities:
Additions to property and equipment, including pre-delivery payments	(70,291)	(72,902)
Proceeds from purchase assignment and leaseback transactions	31,851	86,033
Proceeds from disposition of equipment	0	3,513
Purchases of investments	(138,235)	(115,218)
Sales of investments	150,651	112,886
Net cash provided by (used in) investing activities	(26,024)	14,312
Cash flows from Financing Activities:
Repayments of long-term debt and capital lease obligations	(183,607)	(43,460)
Repurchases and redemptions of convertible notes	(1,426)	(168,407)
Repurchases of common stock	(10,075)	(17,621)
Excess tax benefit from equity awards	17,259	0
Other	(7,628)	(1,649)
Net cash used in financing activities	(185,477)	(231,137)
Net increase in cash and cash equivalents	73,965	80,695
Cash and cash equivalents - Beginning of Period	281,502	264,087
Cash and cash equivalents - End of Period	$ 355,467	$ 344,782

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Hawaiian Holdings, Inc. (the Company or Holdings) is a holding company incorporated in the State of Delaware. The Company’s primary asset is its sole ownership of all issued and outstanding shares of common stock of Hawaiian Airlines, Inc. (Hawaiian). The accompanying unaudited financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (SEC). Accordingly, these interim financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying financial statements contain all adjustments, including normal recurring adjustments, necessary for the fair presentation of the Company’s results of operations and financial position for the periods presented. Due to seasonal fluctuations, among other factors common to the airline industry, the results of operations for the periods presented are not necessarily indicative of the results of operations to be expected for the entire year. The accompanying unaudited Consolidated Financial Statements should be read in conjunction with the financial statements and the notes of the Company included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 .

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-02, Leases (ASU 2016-02), requiring a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018. ASU 2016-02 requires entities to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. Full retrospective application is prohibited. The Company is currently evaluating the effect that the provisions of ASU 2016-02 will have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03), requiring an entity to present its debt issuance costs on the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015. As a result, the Company adopted ASU 2015-03 as of January 1, 2016 and retrospectively applied it to all periods presented in the consolidated balance sheets. The adoption of ASU 2015-03 resulted in a $19.8 million reclassification of the Company's unamortized debt issuance costs from long-term prepayments and other to long-term debt on the consolidated balance sheet as of December 31, 2015. In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASU 2014-09), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. In July 2015, the FASB voted to defer the amendments in ASU 2014-09 by one year to December 15, 2017. The terms of ASU 2014-09 are effective for fiscal years, and interim periods within those fiscal years, beginning after the revised effective date, and allow for either full retrospective or modified retrospective adoption. Organizations are permitted to adopt the new revenue standard early, but not before December 15, 2016. The Company is currently evaluating the effect that the provisions of ASU 2014-09 will have on its consolidated financial statements and related disclosures. We have determined that the new standard, once effective, will preclude the Company from accounting for miles earned under its HawaiianMiles customer loyalty program using the incremental cost method, and will instead require the use of the deferred revenue method. This change could have a significant impact on the Company's financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Reclassifications out of accumulated other comprehensive loss by component is as follows: Details about accumulated other comprehensive loss components Three months ended June 30, Six months ended June 30, Affected line items in the statement where net income is presented 2016 2015 2016 2015 (in thousands) Derivatives designated as hedging instruments under ASC 815 Foreign currency derivative gains, net $ (868 ) $ (4,460 ) $ (3,521 ) $ (8,412 ) Passenger revenue Interest rate derivative losses, net 1,235 179 944 366 Interest expense Total before tax 367 (4,281 ) (2,577 ) (8,046 ) Tax expense (benefit) (141 ) 1,618 973 3,040 Total, net of tax $ 226 $ (2,663 ) $ (1,604 ) $ (5,006 ) Amortization of defined benefit plan items Actuarial loss $ 1,915 $ 2,680 $ 3,830 $ 5,360 Wages and benefits Prior service cost 57 57 114 114 Wages and benefits Total before tax 1,972 2,737 3,944 5,474 Tax benefit (747 ) (1,038 ) (1,493 ) (2,076 ) Total, net of tax $ 1,225 $ 1,699 $ 2,451 $ 3,398 Short-term investments Realized gain on sales of investments, net $ (58 ) $ (25 ) $ (61 ) $ (35 ) Other nonoperating income Total before tax (58 ) (25 ) (61 ) (35 ) Tax expense 19 6 20 7 Total, net of tax (39 ) $ (19 ) $ (41 ) $ (28 ) Total reclassifications for the period $ 1,412 $ (983 ) $ 806 $ (1,636 ) A rollforward of the amounts included in accumulated other comprehensive loss, net of taxes, for the three and six months ended June 30, 2016 and 2015 is as follows: Three months ended June 30, 2016 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Short-Term Investments Total (in thousands) Beginning balance $ (768 ) $ (2,500 ) $ (102,938 ) $ 160 $ (106,046 ) Other comprehensive income (loss) before reclassifications, net of tax — (7,306 ) 3 190 (7,113 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 768 (542 ) 1,225 (39 ) 1,412 Net current-period other comprehensive income (loss) 768 (7,848 ) 1,228 151 (5,701 ) Ending balance $ — $ (10,348 ) $ (101,710 ) $ 311 $ (111,747 ) Three months ended June 30, 2015 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Plan Items Short-Term Investments Total (in thousands) Beginning balance $ (108 ) $ 12,268 $ (133,862 ) $ 50 $ (121,652 ) Other comprehensive income (loss) before reclassifications, net of tax 260 928 — (105 ) 1,083 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 110 (2,773 ) 1,699 (19 ) (983 ) Net current-period other comprehensive income (loss) 370 (1,845 ) 1,699 (124 ) 100 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Six months ended June 30, 2016 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Pension Items Short-Term Investments Total (in thousands) Beginning balance $ 81 $ 4,879 $ (103,865 ) $ (372 ) $ (99,277 ) Other comprehensive income (loss) before reclassifications, net of tax (668 ) (13,036 ) (296 ) 724 (13,276 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 587 (2,191 ) 2,451 (41 ) 806 Net current-period other comprehensive income (loss) (81 ) (15,227 ) 2,155 683 (12,470 ) Ending balance $ — $ (10,348 ) $ (101,710 ) $ 311 $ (111,747 ) Six months ended June 30, 2015 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Pension Items Short-Term Investments Total (in thousands) Beginning balance $ 254 $ 12,708 $ (135,520 ) $ (254 ) $ (122,812 ) Other comprehensive income (loss) before reclassifications, net of tax (216 ) 2,945 (41 ) 208 2,896 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 224 (5,230 ) 3,398 (28 ) (1,636 ) Net current-period other comprehensive income (loss) 8 (2,285 ) 3,357 180 1,260 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 )

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share, which excludes dilution, is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the three and six months ended June 30, 2016 and 2015 , anti-dilutive shares excluded from the calculation of diluted earnings per share were nil. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (in thousands, except for per share data) Numerator: Net Income $ 79,570 $ 48,834 $ 131,036 $ 74,717 Denominator: Weighted average common stock shares outstanding - Basic 53,634 54,619 53,574 54,617 Assumed exercise of stock options and awards 219 430 247 488 Assumed conversion of convertible note premium — 546 12 2,252 Assumed conversion of warrants — 6,260 — 6,033 Weighted average common stock shares outstanding - Diluted 53,853 61,855 53,833 63,390 Net Income Per Share Basic $ 1.48 $ 0.89 $ 2.45 $ 1.37 Diluted $ 1.48 $ 0.79 $ 2.43 $ 1.18 Stock Repurchase Program In April 2015, the Company's Board of Directors approved a stock repurchase program under which the Company may repurchase up to $100 million of its outstanding common stock over a two -year period through the open market, established plans or privately negotiated transactions in accordance with all applicable securities laws, rules and regulations. The stock repurchase program is subject to modification or termination at any time. The Company spent $7.6 million and $10.1 million to repurchase approximately 209 thousand shares and 281 thousand shares of the Company's common stock in open market transactions during the three and six months ended June 30, 2016 , respectively. As of June 30, 2016 , the Company has $49.8 million remaining to spend under the stock repurchase program. See Part II, Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds” of this report for additional information on the stock repurchase program.

Short-Term Investments

Short-Term Investments	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Short-Term Investments	Short-Term Investments Debt securities that are not classified as cash equivalents are classified as available-for-sale investments and are stated at fair value. Realized gains and losses on sales of investments are reflected in nonoperating income (expense) in the unaudited consolidated statements of operations. Unrealized gains and losses on available-for-sale securities are reflected as a component of accumulated other comprehensive loss. The following is a summary of short-term investments held as of June 30, 2016 and December 31, 2015 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2016 (in thousands) Corporate debt $ 178,245 $ 413 $ (41 ) $ 178,617 U.S. government and agency debt 56,422 166 — 56,588 Municipal bonds 14,966 7 (1 ) 14,972 Other fixed income securities 16,168 — — 16,168 Total short-term investments $ 265,801 $ 586 $ (42 ) $ 266,345 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015 (in thousands) Corporate debt $ 167,066 $ 13 $ (481 ) $ 166,598 U.S. government and agency debt 62,376 9 (123 ) 62,262 Municipal bonds 22,865 3 (12 ) 22,856 Other fixed income securities 26,835 — (6 ) 26,829 Total short-term investments $ 279,142 $ 25 $ (622 ) $ 278,545 Contractual maturities of short-term investments as of June 30, 2016 are shown below. Under 1 Year 1 to 5 Years Total (in thousands) Corporate debt $ 64,160 $ 114,457 $ 178,617 U.S. government and agency debt 36,796 19,792 56,588 Municipal bonds 8,217 6,755 14,972 Other fixed income securities 14,667 1,501 16,168 Total short-term investments $ 123,840 $ 142,505 $ 266,345 The Company classifies investments as current assets as these securities are available for use in its current operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurement (ASC 820) clarifies that fair value as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term for the assets or liabilities; and Level 3 — Unobservable inputs for which there is little or no market data and that are significant to the fair value of the assets or liabilities. The tables below present the Company’s financial assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements as of June 30, 2016 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 20,582 $ 4,893 $ 15,689 $ — Cash equivalents measured at net asset value 116,705 — — — Restricted cash 5,000 5,000 — — Short-term investments 266,345 — 266,345 — Fuel derivative contracts: Crude oil call options 1,295 — 1,295 — Heating oil swaps 11,058 — 11,058 — Foreign currency derivatives 484 — 484 — Total assets measured at fair value $ 421,469 $ 9,893 $ 294,871 $ — Fuel derivative contracts: Heating oil swaps $ 3,589 $ — $ 3,589 $ — Foreign currency derivatives 18,148 — 18,148 — Total liabilities measured at fair value $ 21,737 $ — $ 21,737 $ — Fair Value Measurements as of December 31, 2015 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 5,665 $ 1,648 $ 4,017 $ — Cash equivalents measured at net asset value 61,577 — — — Restricted cash 5,000 5,000 — — Short-term investments 278,545 — 278,545 — Fuel derivative contracts: Heating oil put options 1,060 — 1,060 — Foreign currency derivatives 6,550 — 6,550 — Total assets measured at fair value $ 358,397 $ 6,648 $ 290,172 $ — Fuel derivative contracts: Heating oil swaps $ 40,530 $ — $ 40,530 $ — Foreign currency derivatives 1,049 — 1,049 — Interest rate derivative 312 — 312 — Total liabilities measured at fair value $ 41,891 $ — $ 41,891 $ — Cash equivalents. The Company’s cash equivalents consist of money market securities, U.S. agency bonds, foreign and domestic corporate bonds, and commercial paper. The instruments classified as Level 2 are valued using quoted prices for similar assets in active markets. Cash equivalents measured at net asset value. Cash equivalents measured at net asset value consist of money market securities that are measured at fair value using the net asset value per share practical expedient. In accordance with ASC 820, these instruments are not included in the fair value hierarchy. Restricted cash . The Company’s restricted cash consists of money market securities. Short-term investments. Short-term investments include U.S. and foreign government notes and bonds, U.S. agency bonds, variable-rate corporate bonds, asset backed securities, foreign and domestic corporate bonds, municipal bonds, and commercial paper. These instruments are valued using quoted prices for similar assets in active markets or other observable inputs. Fuel derivative contracts. The Company’s fuel derivative contracts consist of heating oil swaps and crude oil call options which are not traded on a public exchange. The fair value of these instruments are determined based on inputs available or derived from public markets including contractual terms, market prices, yield curves and measures of volatility among others. Foreign currency derivatives. The Company’s foreign currency derivatives consist of Japanese Yen and Australian Dollar forward contracts and are valued based primarily on data available or derived from public markets. Interest rate derivatives. The Company’s interest rate derivatives consist of interest rate swaps and are valued based primarily on data available or derived from public markets. The table below presents the Company’s debt (excluding obligations under capital leases) measured at fair value: Fair Value of Debt June 30, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) $ 506,010 $ 499,130 $ — $ — $ 499,130 $ 677,203 $ 665,507 $ — $ 283 $ 665,224 The fair value estimates of the Company’s debt were based on either market prices or the discounted amount of future cash flows using the Company’s current incremental rate of borrowing for similar liabilities. The carrying amounts of cash, other receivables and accounts payable approximate fair value due to the short-term nature of these financial instruments.

Financial Derivative Instrument

Financial Derivative Instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivative Instruments	Financial Derivative Instruments The Company uses derivatives to manage risks associated with certain assets and liabilities arising from the potential adverse impact of fluctuations in global fuel prices and foreign currencies. Fuel Risk Management The Company’s operations are inherently dependent upon the price and availability of aircraft fuel. To manage economic risks associated with fluctuations in aircraft fuel prices, the Company periodically enters into derivative financial instruments. During the three and six months ended June 30, 2016 , the Company primarily used heating oil swaps and crude oil call options to hedge its aircraft fuel expense. These derivative instruments were not designated as hedges under ASC Topic 815, Derivatives and Hedging (ASC 815), for hedge accounting treatment. As a result, any changes in fair value of these derivative instruments are adjusted through other nonoperating income (expense) in the period of change. The following table reflects the amount of realized and unrealized gains and losses recorded as nonoperating income (expense) in the unaudited Consolidated Statements of Operations. Three months ended June 30, Six months ended June 30, Fuel derivative contracts 2016 2015 2016 2015 (in thousands) Losses realized at settlement $ (8,799 ) $ (16,553 ) $ (27,824 ) $ (31,144 ) Reversal of prior period unrealized amounts 22,882 16,327 40,692 29,313 Unrealized gains (losses) that will settle in future periods 7,004 2,252 6,154 (1,830 ) Gains on fuel derivatives recorded as Nonoperating Income (expense) $ 21,087 $ 2,026 $ 19,022 $ (3,661 ) Foreign Currency Exchange Rate Risk Management The Company is subject to foreign currency exchange rate risk due to revenues and expenses denominated in foreign currencies, with the primary exposures being the Japanese Yen and Australian Dollar. To manage exchange rate risk, the Company executes its international revenue and expense transactions in the same foreign currency to the extent practicable. The Company enters into foreign currency forward contracts to further manage the effects of fluctuating exchange rates. The effective portion of the gain or loss of designated cash flow hedges is reported as a component of accumulated other comprehensive income (AOCI) and reclassified into earnings in the same period in which the related sales are recognized as passenger revenue. The effective portion of the foreign currency forward contracts represents the change in fair value of the hedge that offsets the change in the fair value of the hedged item. To the extent the change in the fair value of the hedge does not perfectly offset the change in the fair value of the hedged item, the ineffective portion of the hedge is immediately recognized as nonoperating income (expense). Foreign currency forward contracts that are not designated as cash flow hedges are recorded at fair value, and any changes in fair value are recognized as other nonoperating income (expense) in the period of change. The Company believes that its foreign currency forward contracts that are designated as cash flow hedges will continue to be effective in offsetting changes in cash flow attributable to the hedged risk. The Company expects to reclassify a net loss of approximately $10.6 million into earnings over the next 12 months from AOCI based on the values at June 30, 2016 . The following tables present the gross fair value of asset and liability derivatives that are designated as hedging instruments under ASC 815 and derivatives that are not designated as hedging instruments under ASC 815, as well as the net derivative positions and location of the asset and liability balances within the unaudited Consolidated Balance Sheets. Derivative position as of June 30, 2016 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Foreign currency derivatives Other accrued liabilities 13,145,400 Japanese Yen June 2017 437 (11,980 ) (11,543 ) Other liabilities and deferred credits 4,609,250 Japanese Yen June 2018 25 (5,301 ) (5,276 ) Derivatives not designated as hedges Foreign currency derivatives Other accrued liabilities 1,909,900 Japanese Yen March 2017 22 (867 ) (845 ) Fuel derivative contracts Prepaid expenses and other 66,168 gallons June 2017 12,353 (3,589 ) 8,764 Derivative position as of December 31, 2015 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Interest rate derivative Other accrued liabilities $51,000 U.S. dollars April 2023 $ — $ (70 ) $ (70 ) Other liabilities and deferred credits (1) — (242 ) (242 ) Foreign currency derivatives Prepaid expenses and other 7,594,750 Japanese Yen December 2016 6,461 (525 ) 5,936 Other liabilities and deferred credits 5,437,400 Japanese Yen December 2017 78 (493 ) (415 ) Derivatives not designated as hedges Foreign currency derivatives Prepaid expenses and other 2,762,000 Japanese Yen August 2016 11 — 11 Other liabilities and deferred credits 2,845 Australian Dollars March 2017 — (31 ) (31 ) Fuel derivative contracts Other accrued liabilities 84,067 gallons December 2016 1,060 (40,530 ) (39,470 ) (1) Represents the noncurrent portion of the $51.0 million interest rate derivative with final maturity in April 2023. The following table reflects the impact of cash flow hedges designated for hedge accounting treatment and their location within the unaudited Consolidated Statements of Comprehensive Income. (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Three months ended June 30, Three months ended June 30, Three months ended June 30, 2016 2015 2016 2015 2016 2015 (in thousands) Foreign currency derivatives $ 10,938 $ (1,492 ) $ (868 ) $ (4,460 ) $ — $ — Interest rate derivatives — (619 ) 1,235 179 — — (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Six months ended June 30, Six months ended June 30, Six months ended June 30, 2016 2015 2016 2015 2016 2015 (in thousands) Foreign currency derivatives $ 20,155 $ (4,737 ) $ (3,521 ) $ (8,412 ) $ — $ — Interest rate derivatives 923 (62 ) 1,383 366 — — Risk and Collateral The financial derivative instruments expose the Company to possible credit loss in the event the counterparties to the agreements fail to meet their obligations. To manage such credit risks, the Company (1) selects its counterparties based on past experience and credit ratings, (2) limits its exposure to any single counterparty, and (3) regularly monitors the market position and credit rating of each counterparty. Credit risk is deemed to have a minimal impact on the fair value of the derivative instruments as cash collateral would be provided by the counterparties based on the current market exposure of the derivative. ASC 815 requires a reporting entity to elect a policy of whether to offset rights to reclaim cash collateral or obligations to return cash collateral against derivative assets and liabilities executed with the same counterparty under a master netting agreement, or present such amounts on a gross basis. The Company’s accounting policy is to present its derivative assets and liabilities on a net basis, including any collateral posted with the counterparty. The Company had $1.1 million in collateral posted with its counterparties as of June 30, 2016 and no collateral posted with counterparties as of December 31, 2015 . The Company is also subject to market risk in the event these financial instruments become less valuable in the market. However, changes in the fair value of the derivative instruments will generally offset the change in the fair value of the hedged item, limiting the Company’s overall exposure.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt As of June 30, 2016 , the expected maturities of long-term debt for the remainder of 2016 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2016 $ 24,136 2017 48,801 2018 48,244 2019 72,927 2020 21,413 Thereafter 290,488 $ 506,009 Debt Extinguishment The Company extinguished $88.7 million and $140.5 million of its existing debt under a secured financial agreement for the three and six months ended June 30, 2016, which was originally scheduled to mature in 2023. This debt extinguishment resulted in a loss of $6.6 million and $10.0 million for the three and six months ended June 30, 2016, which was reflected in nonoperating income (expense) in the unaudited Consolidated Statement of Operations.

Leases Leases

Leases Leases	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Leases	Leases The Company leases aircraft, engines and other assets under long-term lease arrangements. Other leased assets include real property, airport and terminal facilities, maintenance facilities, and general offices. Certain leases include escalation clauses and renewal options. When lease renewals are considered to be reasonably assured, the rental payments that will be due during the renewal periods are included in the determination of rent expense over the life of the lease. During the three months ended June 30, 2016 , the Company took delivery of an Airbus A330-200 aircraft under an operating lease with a lease term of 6 years . As of June 30, 2016 , the scheduled future minimum rental payments under operating leases with non-cancellable basic terms of more than one year were as follows: Aircraft Other (in thousands) Remaining in 2016 $ 60,688 $ 2,654 2017 117,226 4,710 2018 114,477 4,641 2019 114,332 4,348 2020 94,177 4,173 Thereafter 280,320 22,358 $ 781,220 $ 42,884

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans The components of net periodic benefit cost for the Company’s defined benefit and other postretirement plans included the following: Three months ended June 30, Six months ended June 30, Components of Net Period Benefit Cost 2016 2015 2016 2015 (in thousands) Service cost $ 3,713 $ 4,225 $ 7,426 $ 8,450 Interest cost 7,582 7,389 15,164 14,778 Expected return on plan assets (4,472 ) (4,716 ) (8,944 ) (9,432 ) Recognized net actuarial loss 1,972 2,737 3,944 5,474 Net periodic benefit cost $ 8,795 $ 9,635 $ 17,590 $ 19,270 The Company contributed $11.0 million and $11.3 million to its defined benefit and other postretirement plans during the three and six months ended June 30, 2016 , respectively, including $5.7 million above the minimum funding requirements. The Company contributed $0.8 million and $13.6 million to its defined benefit and other postretirement plans during the three and six months ended June 30, 2015 , respectively.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Commitments As of June 30, 2016 , the Company had the following capital commitments consisting of firm aircraft and engine orders and purchase rights: Aircraft Type Firm Orders Purchase Rights Expected Delivery Dates A321neo aircraft 16 9 Between 2017 and 2020 A330-800neo aircraft 6 6 Between 2019 and 2021 Pratt & Whitney spare engines: A321neo spare engines 2 2 Between 2017 and 2018 Rolls-Royce spare engines: A330-800neo spare engines 2 2 Between 2019 and 2026 The Company has operating commitments with a third-party to provide aircraft maintenance services which require fixed payments as well as variable payments based on flight hours for its Airbus fleet through 2027. The Company also has operating commitments with third-party service providers for IT, accounting services and a capacity purchase agreement through 2024. Committed capital and operating expenditures include escalation amounts based on estimates. The gross committed expenditures and committed financings for those deliveries as of June 30, 2016 are detailed below: Capital Operating Total Committed (in thousands) Remaining in 2016 $ 60,610 $ 39,466 $ 100,076 2017 234,984 77,009 311,993 2018 400,377 64,529 464,906 2019 485,458 57,025 542,483 2020 230,973 57,122 288,095 Thereafter 208,937 287,500 496,437 $ 1,621,339 $ 582,651 $ 2,203,990 Litigation and Contingencies The Company is subject to legal proceedings arising in the normal course of its operations. Management does not anticipate that the disposition of any currently pending proceeding will have a material effect on the Company’s operations, business or financial condition. General Guarantees and Indemnifications In the normal course of business, the Company enters into numerous aircraft financing and real estate leasing arrangements that have various guarantees included in the contract. It is common in such lease transactions for the lessee to agree to indemnify the lessor and other related third-parties for tort liabilities that arise out of or relate to the lessee’s use of the leased aircraft or occupancy of the leased premises. In some cases, this indemnity extends to related liabilities arising from the negligence of the indemnified parties, but usually excludes any liabilities caused by their gross negligence or willful misconduct. Additionally, the lessee typically indemnifies such parties for any environmental liability that arises out of or relates to its use of the real estate leased premises. The Company believes that it is insured (subject to deductibles) for most tort liabilities and related indemnities described above with respect to the aircraft and real estate that it leases. The Company cannot estimate the potential amount of future payments, if any, under the foregoing indemnities and agreements. Credit Card Holdback Under the Company’s bank-issued credit card processing agreements, certain proceeds from advance ticket sales may be held back to serve as collateral to cover any possible chargebacks or other disputed charges that may occur. These holdbacks, which are included in restricted cash in the Company’s unaudited Consolidated Balance Sheets, totaled $5.0 million at June 30, 2016 and December 31, 2015 . In the event of a material adverse change in the Company's business, the holdback could increase to an amount up to 100% of the applicable credit card air traffic liability, which would also cause an increase in the level of restricted cash. If the Company is unable to obtain a waiver of, or otherwise mitigate the increase in the restriction of cash, it could have a material adverse impact on the Company.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Non-cash investing and financing activities for the six months ended June 30, 2016 and 2015 were as follows: Six months ended June 30, 2016 2015 (in thousands) Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through a capital lease $ 6,092 $ 2,791

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The following condensed consolidating financial information is presented in accordance with Regulation S-X paragraph 210.3-10 because, in connection with the issuance by two pass-through trusts formed by Hawaiian (which is also referred to in this Note 13 as Subsidiary Issuer / Guarantor) of pass-through certificates, the Company (which is also referred to in this Note 13 as Parent Issuer / Guarantor) is fully and unconditionally guaranteeing the payment obligations of Hawaiian, which is a 100% owned subsidiary of the Company, under equipment notes issued by Hawaiian to purchase new aircraft. Condensed consolidating financial statements are presented in the following tables: Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2016 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 593,161 $ 1,515 $ (86 ) $ 594,590 Operating Expenses: Aircraft fuel, including taxes and delivery — 83,798 — — 83,798 Wages and benefits — 135,883 — — 135,883 Aircraft rent — 30,066 — — 30,066 Maintenance materials and repairs — 53,941 644 — 54,585 Aircraft and passenger servicing — 30,723 — — 30,723 Commissions and other selling — 31,437 21 (33 ) 31,425 Depreciation and amortization — 26,241 747 — 26,988 Other rentals and landing fees — 24,978 — — 24,978 Purchased services 52 24,319 187 (15 ) 24,543 Other 1,461 30,978 330 (38 ) 32,731 Total 1,513 472,364 1,929 (86 ) 475,720 Operating Income (Loss) (1,513 ) 120,797 (414 ) — 118,870 Nonoperating Income (Expense): Undistributed net income of subsidiaries 80,326 — — (80,326 ) — Interest expense and amortization of debt discounts and issuance costs — (8,910 ) — — (8,910 ) Interest income 65 1,022 — — 1,087 Capitalized interest — 463 — — 463 Gains on fuel derivatives — 21,087 — — 21,087 Loss on extinguishment of debt — (6,643 ) — — (6,643 ) Other, net — 2,686 — — 2,686 Total 80,391 9,705 — (80,326 ) 9,770 Income (Loss) Before Income Taxes 78,878 130,502 (414 ) (80,326 ) 128,640 Income tax expense (benefit) (692 ) 49,762 — — 49,070 Net Income (Loss) $ 79,570 $ 80,740 $ (414 ) $ (80,326 ) $ 79,570 Comprehensive Income (Loss) $ 73,869 $ 75,039 $ (414 ) $ (74,625 ) $ 73,869 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 570,254 $ 1,168 $ (127 ) $ 571,295 Operating Expenses: Aircraft fuel, including taxes and delivery — 112,519 — — 112,519 Wages and benefits — 123,977 — — 123,977 Aircraft rent — 28,817 — — 28,817 Maintenance materials and repairs — 56,555 516 — 57,071 Aircraft and passenger servicing — 29,348 — — 29,348 Commissions and other selling — 30,505 19 (40 ) 30,484 Depreciation and amortization — 26,790 747 — 27,537 Other rentals and landing fees — 23,248 — — 23,248 Purchased services 99 19,736 22 (15 ) 19,842 Other 1,153 25,686 269 (72 ) 27,036 Total 1,252 477,181 1,573 (127 ) 479,879 Operating Income (Loss) (1,252 ) 93,073 (405 ) — 91,416 Nonoperating Income (Expense): Undistributed net income of subsidiaries 49,759 — — (49,759 ) — Interest expense and amortization of debt discounts and issuance costs (156 ) (13,562 ) — — (13,718 ) Interest income 53 672 — — 725 Capitalized interest — 975 — — 975 Gains on fuel derivatives — 2,026 — — 2,026 Loss on extinguishment of debt (287 ) — — — (287 ) Other, net — (1,876 ) — — (1,876 ) Total 49,369 (11,765 ) — (49,759 ) (12,155 ) Income (Loss) Before Income Taxes 48,117 81,308 (405 ) (49,759 ) 79,261 Income tax expense (benefit) (717 ) 31,144 — — 30,427 Net Income (Loss) $ 48,834 $ 50,164 $ (405 ) $ (49,759 ) $ 48,834 Comprehensive Income (Loss) $ 48,934 $ 50,264 $ (405 ) $ (49,859 ) $ 48,934 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six months ended June 30, 2016 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,143,295 $ 2,678 $ (203 ) $ 1,145,770 Operating Expenses: Aircraft fuel, including taxes and delivery — 153,698 — — 153,698 Wages and benefits — 269,526 — — 269,526 Aircraft rent — 59,454 — — 59,454 Maintenance materials and repairs — 113,041 2,048 — 115,089 Aircraft and passenger servicing — 59,274 — — 59,274 Commissions and other selling 1 64,489 37 (71 ) 64,456 Depreciation and amortization — 52,640 1,494 — 54,134 Other rentals and landing fees — 49,412 — — 49,412 Purchased services 87 46,959 259 (30 ) 47,275 Other 2,787 59,574 455 (102 ) 62,714 Total 2,875 928,067 4,293 (203 ) 935,032 Operating Income (Loss) (2,875 ) 215,228 (1,615 ) — 210,738 Nonoperating Income (Expense): Undistributed net income of subsidiaries 132,142 — — (132,142 ) — Interest expense and amortization of debt discounts and issuance costs 117 (20,031 ) — — (19,914 ) Interest income 124 1,807 — — 1,931 Capitalized interest — 688 — — 688 Gains on fuel derivatives — 19,022 — — 19,022 Loss on extinguishment of debt — (9,993 ) — — (9,993 ) Other, net — 9,272 — — 9,272 Total 132,383 765 — (132,142 ) 1,006 Income (Loss) Before Income Taxes 129,508 215,993 (1,615 ) (132,142 ) 211,744 Income tax expense (benefit) (1,528 ) 82,236 — — 80,708 Net Income (Loss) $ 131,036 $ 133,757 $ (1,615 ) $ (132,142 ) $ 131,036 Comprehensive Income (Loss) $ 118,566 $ 121,287 $ (1,615 ) $ (119,672 ) $ 118,566 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,109,461 $ 2,341 $ (227 ) $ 1,111,575 Operating Expenses: Aircraft fuel, including taxes and delivery — 223,846 — — 223,846 Wages and benefits — 243,991 — — 243,991 Aircraft rent — 57,188 — — 57,188 Maintenance materials and repairs — 111,468 848 — 112,316 Aircraft and passenger servicing — 57,664 — — 57,664 Commissions and other selling 4 60,946 31 (69 ) 60,912 Depreciation and amortization — 51,222 1,494 — 52,716 Other rentals and landing fees — 46,079 — — 46,079 Purchased services 99 40,975 22 (15 ) 41,081 Other 3,138 49,768 439 (143 ) 53,202 Total 3,241 943,147 2,834 (227 ) 948,995 Operating Income (Loss) (3,241 ) 166,314 (493 ) — 162,580 Nonoperating Income (Expense): Undistributed net income of subsidiaries 82,322 — — (82,322 ) — Interest expense and amortization of debt discounts and issuance costs (1,592 ) (27,644 ) — — (29,236 ) Interest income 109 1,252 — — 1,361 Capitalized interest — 2,268 — — 2,268 Losses on fuel derivatives — (3,661 ) — — (3,661 ) Loss on extinguishment of debt (7,242 ) — — — (7,242 ) Other, net — (4,810 ) — — (4,810 ) Total 73,597 (32,595 ) — (82,322 ) (41,320 ) Income (Loss) Before Income Taxes 70,356 133,719 (493 ) (82,322 ) 121,260 Income tax expense (benefit) (4,361 ) 50,904 — — 46,543 Net Income (Loss) $ 74,717 $ 82,815 $ (493 ) $ (82,322 ) $ 74,717 Comprehensive Income (Loss) $ 75,977 $ 84,075 $ (493 ) $ (83,582 ) $ 75,977 Condensed Consolidating Balance Sheets June 30, 2016 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 70,966 $ 277,558 $ 6,943 $ — $ 355,467 Restricted cash — 5,000 — — 5,000 Short-term investments — 266,345 — 266,345 Accounts receivable, net 61 92,840 759 (228 ) 93,432 Spare parts and supplies, net — 18,150 — — 18,150 Prepaid expenses and other 141 53,374 273 — 53,788 Total 71,168 713,267 7,975 (228 ) 792,182 Property and equipment at cost — 1,982,280 70,159 — 2,052,439 Less accumulated depreciation and amortization — (470,927 ) (6,688 ) — (477,615 ) Property and equipment, net — 1,511,353 63,471 — 1,574,824 Long-term prepayments and other — 69,792 — — 69,792 Deferred tax assets, net 27,587 — — (27,587 ) — Goodwill and other intangible assets, net — 124,039 500 — 124,539 Intercompany receivable — 277,268 — (277,268 ) — Investment in consolidated subsidiaries 736,215 — — (736,215 ) — TOTAL ASSETS $ 834,970 $ 2,695,719 $ 71,946 $ (1,041,298 ) $ 2,561,337 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 411 $ 113,733 $ 480 $ (228 ) $ 114,396 Air traffic liability — 554,638 3,213 — 557,851 Other accrued liabilities 2,048 119,425 302 — 121,775 Current maturities of long-term debt, less discount, and capital lease obligations — 58,352 — — 58,352 Total 2,459 846,148 3,995 (228 ) 852,374 Long-term debt and capital lease obligations — 527,625 — — 527,625 Intercompany payable 266,235 — 11,033 (277,268 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 373,572 — — 373,572 Other liabilities and deferred credits 164 99,417 824 100,405 Deferred tax liabilities, net — 168,836 — (27,587 ) 141,249 Total 164 641,825 824 (27,587 ) 615,226 Shareholders’ equity 566,112 680,121 56,094 (736,215 ) 566,112 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 834,970 $ 2,695,719 $ 71,946 $ (1,041,298 ) $ 2,561,337 Condensed Consolidating Balance Sheets December 31, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 69,420 $ 203,406 $ 8,676 $ — $ 281,502 Restricted cash — 5,000 — — 5,000 Short-term investments — 278,545 — — 278,545 Accounts receivable, net 61 81,248 625 (211 ) 81,723 Spare parts and supplies, net — 19,164 — — 19,164 Prepaid expenses and other 7 74,948 95 — 75,050 Total 69,488 662,311 9,396 (211 ) 740,984 Property and equipment at cost — 1,927,126 58,126 — 1,985,252 Less accumulated depreciation and amortization — (427,315 ) (5,195 ) — (432,510 ) Property and equipment, net — 1,499,811 52,931 — 1,552,742 Long-term prepayments and other — 70,373 500 — 70,873 Deferred tax assets, net 26,059 — — (26,059 ) — Goodwill and other intangible assets, net — 125,323 — — 125,323 Intercompany receivable — 242,248 — (242,248 ) — Investment in consolidated subsidiaries 596,570 — — (596,570 ) — TOTAL ASSETS $ 692,117 $ 2,600,066 $ 62,827 $ (865,088 ) $ 2,489,922 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 755 $ 100,007 $ 759 $ (211 ) $ 101,310 Air traffic liability — 427,302 3,464 — 430,766 Other accrued liabilities 530 159,583 145 — 160,258 Current maturities of long-term debt, less discount, and capital lease obligations 288 74,153 — — 74,441 Total 1,573 761,045 4,368 (211 ) 766,775 Long-term debt and capital lease obligations — 677,915 — — 677,915 Intercompany payable 242,248 — — (242,248 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 372,700 — — 372,700 Other liabilities and deferred credits 2,234 86,861 750 — 89,845 Deferred tax liabilities, net — 162,684 — (26,059 ) 136,625 Total 2,234 622,245 750 (26,059 ) 599,170 Shareholders’ equity 446,062 538,861 57,709 (596,570 ) 446,062 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 692,117 $ 2,600,066 $ 62,827 $ (865,088 ) $ 2,489,922 Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2016 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (2,995 ) $ 289,193 $ (732 ) $ 285,466 Cash Flows From Investing Activities: Net payments to affiliates — (26,686 ) — 26,686 — Additions to property and equipment, including pre-delivery deposits — (58,257 ) (12,034 ) (70,291 ) Proceeds from purchase assignment and leaseback transaction 31,851 31,851 Proceeds from disposition of property and equipment — — — — Purchases of investments — (138,235 ) (138,235 ) Sales of investments — 150,651 150,651 Net cash used in investing activities — (40,676 ) (12,034 ) 26,686 (26,024 ) Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (183,607 ) (183,607 ) Repurchases and redemptions of convertible notes (1,426 ) — — — (1,426 ) Net payments from affiliates 15,653 — 11,033 (26,686 ) — Repurchases of common stock (10,075 ) — — — (10,075 ) Excess tax benefit from equity awards — 17,259 — — 17,259 Other 389 (8,017 ) — — (7,628 ) Net cash provided by (used in) financing activities 4,541 (174,365 ) 11,033 (26,686 ) (185,477 ) Net increase (decrease) in cash and cash equivalents 1,546 74,152 (1,733 ) — 73,965 Cash and cash equivalents - Beginning of Period 69,420 203,406 8,676 — 281,502 Cash and cash equivalents - End of Period $ 70,966 $ 277,558 $ 6,943 $ — $ 355,467 Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2015 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (2,349 ) $ 299,009 $ 860 $ — $ 297,520 Cash Flows From Investing Activities: Net payments to affiliates (25,000 ) (170,209 ) — 195,209 — Additions to property and equipment, including pre-delivery deposits — (65,500 ) (7,402 ) — (72,902 ) Proceeds from purchase assignment and leaseback transaction — 86,033 — — 86,033 Net proceeds from disposition of property and equipment — 3,458 55 — 3,513 Purchases of investments — (115,218 ) — — (115,218 ) Sales of investments — 112,886 — — 112,886 Net cash provided by (used in) investing activities (25,000 ) (148,550 ) (7,347 ) 195,209 14,312 Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (43,460 ) — — (43,460 ) Repurchase of convertible notes (168,407 ) — — — (168,407 ) Net payments from affiliates 170,209 — 25,000 (195,209 ) — Repurchases of Common Stock (17,621 ) — — — (17,621 ) Other 459 (2,108 ) — — (1,649 ) Net cash provided by (used in) financing activities (15,360 ) (45,568 ) 25,000 (195,209 ) (231,137 ) Net increase (decrease) in cash and cash equivalents (42,709 ) 104,891 18,513 — 80,695 Cash and cash equivalents - Beginning of Period 79,532 179,676 4,879 — 264,087 Cash and cash equivalents - End of Period $ 36,823 $ 284,567 $ 23,392 $ — $ 344,782 Certain Restrictions on Subsidiary Distributions, Dividends and Repurchases The Company and Hawaiian are party to a Credit and Guaranty Agreement (Credit Agreement), dated as of November 7, 2014, that provides for a Revolving Credit Facility. See further discussion of the Revolving Credit Facility at Note 8 to the Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 . Pursuant to the terms of the Credit Agreement, neither Hawaiian nor any other subsidiary of the Company will directly or indirectly declare or pay any dividend, or purchase, redeem or otherwise acquire or retire for value any equity interests of the Company unless certain conditions are met. Income Taxes The income tax expense (benefit) is presented as if each entity that is part of the consolidated group files a separate return.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-02, Leases (ASU 2016-02), requiring a lessee to recognize in the statement of financial position a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018. ASU 2016-02 requires entities to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. Full retrospective application is prohibited. The Company is currently evaluating the effect that the provisions of ASU 2016-02 will have on its consolidated financial statements and related disclosures. In April 2015, the FASB issued Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs (ASU 2015-03), requiring an entity to present its debt issuance costs on the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. ASU 2015-03 is effective for annual reporting periods beginning after December 15, 2015. As a result, the Company adopted ASU 2015-03 as of January 1, 2016 and retrospectively applied it to all periods presented in the consolidated balance sheets. The adoption of ASU 2015-03 resulted in a $19.8 million reclassification of the Company's unamortized debt issuance costs from long-term prepayments and other to long-term debt on the consolidated balance sheet as of December 31, 2015. In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (ASU 2014-09), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. In July 2015, the FASB voted to defer the amendments in ASU 2014-09 by one year to December 15, 2017. The terms of ASU 2014-09 are effective for fiscal years, and interim periods within those fiscal years, beginning after the revised effective date, and allow for either full retrospective or modified retrospective adoption. Organizations are permitted to adopt the new revenue standard early, but not before December 15, 2016. The Company is currently evaluating the effect that the provisions of ASU 2014-09 will have on its consolidated financial statements and related disclosures. We have determined that the new standard, once effective, will preclude the Company from accounting for miles earned under its HawaiianMiles customer loyalty program using the incremental cost method, and will instead require the use of the deferred revenue method. This change could have a significant impact on the Company's financial statements.

Accumulated Other Comprehensi22

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2016
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Information related to amounts reclassified from AOCI	Reclassifications out of accumulated other comprehensive loss by component is as follows: Details about accumulated other comprehensive loss components Three months ended June 30, Six months ended June 30, Affected line items in the statement where net income is presented 2016 2015 2016 2015 (in thousands) Derivatives designated as hedging instruments under ASC 815 Foreign currency derivative gains, net $ (868 ) $ (4,460 ) $ (3,521 ) $ (8,412 ) Passenger revenue Interest rate derivative losses, net 1,235 179 944 366 Interest expense Total before tax 367 (4,281 ) (2,577 ) (8,046 ) Tax expense (benefit) (141 ) 1,618 973 3,040 Total, net of tax $ 226 $ (2,663 ) $ (1,604 ) $ (5,006 ) Amortization of defined benefit plan items Actuarial loss $ 1,915 $ 2,680 $ 3,830 $ 5,360 Wages and benefits Prior service cost 57 57 114 114 Wages and benefits Total before tax 1,972 2,737 3,944 5,474 Tax benefit (747 ) (1,038 ) (1,493 ) (2,076 ) Total, net of tax $ 1,225 $ 1,699 $ 2,451 $ 3,398 Short-term investments Realized gain on sales of investments, net $ (58 ) $ (25 ) $ (61 ) $ (35 ) Other nonoperating income Total before tax (58 ) (25 ) (61 ) (35 ) Tax expense 19 6 20 7 Total, net of tax (39 ) $ (19 ) $ (41 ) $ (28 ) Total reclassifications for the period $ 1,412 $ (983 ) $ 806 $ (1,636 )
Schedule of amounts included in accumulated other comprehensive loss, net of taxes	A rollforward of the amounts included in accumulated other comprehensive loss, net of taxes, for the three and six months ended June 30, 2016 and 2015 is as follows: Three months ended June 30, 2016 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Short-Term Investments Total (in thousands) Beginning balance $ (768 ) $ (2,500 ) $ (102,938 ) $ 160 $ (106,046 ) Other comprehensive income (loss) before reclassifications, net of tax — (7,306 ) 3 190 (7,113 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 768 (542 ) 1,225 (39 ) 1,412 Net current-period other comprehensive income (loss) 768 (7,848 ) 1,228 151 (5,701 ) Ending balance $ — $ (10,348 ) $ (101,710 ) $ 311 $ (111,747 ) Three months ended June 30, 2015 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Plan Items Short-Term Investments Total (in thousands) Beginning balance $ (108 ) $ 12,268 $ (133,862 ) $ 50 $ (121,652 ) Other comprehensive income (loss) before reclassifications, net of tax 260 928 — (105 ) 1,083 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 110 (2,773 ) 1,699 (19 ) (983 ) Net current-period other comprehensive income (loss) 370 (1,845 ) 1,699 (124 ) 100 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 ) Six months ended June 30, 2016 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Pension Items Short-Term Investments Total (in thousands) Beginning balance $ 81 $ 4,879 $ (103,865 ) $ (372 ) $ (99,277 ) Other comprehensive income (loss) before reclassifications, net of tax (668 ) (13,036 ) (296 ) 724 (13,276 ) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 587 (2,191 ) 2,451 (41 ) 806 Net current-period other comprehensive income (loss) (81 ) (15,227 ) 2,155 683 (12,470 ) Ending balance $ — $ (10,348 ) $ (101,710 ) $ 311 $ (111,747 ) Six months ended June 30, 2015 Interest Rate Derivatives Foreign Currency Derivatives Defined Benefit Pension Items Short-Term Investments Total (in thousands) Beginning balance $ 254 $ 12,708 $ (135,520 ) $ (254 ) $ (122,812 ) Other comprehensive income (loss) before reclassifications, net of tax (216 ) 2,945 (41 ) 208 2,896 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 224 (5,230 ) 3,398 (28 ) (1,636 ) Net current-period other comprehensive income (loss) 8 (2,285 ) 3,357 180 1,260 Ending balance $ 262 $ 10,423 $ (132,163 ) $ (74 ) $ (121,552 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of earnings per share basic and diluted	Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (in thousands, except for per share data) Numerator: Net Income $ 79,570 $ 48,834 $ 131,036 $ 74,717 Denominator: Weighted average common stock shares outstanding - Basic 53,634 54,619 53,574 54,617 Assumed exercise of stock options and awards 219 430 247 488 Assumed conversion of convertible note premium — 546 12 2,252 Assumed conversion of warrants — 6,260 — 6,033 Weighted average common stock shares outstanding - Diluted 53,853 61,855 53,833 63,390 Net Income Per Share Basic $ 1.48 $ 0.89 $ 2.45 $ 1.37 Diluted $ 1.48 $ 0.79 $ 2.43 $ 1.18

Short-Term Investments (Tables)

Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of short-term investments	The following is a summary of short-term investments held as of June 30, 2016 and December 31, 2015 : Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2016 (in thousands) Corporate debt $ 178,245 $ 413 $ (41 ) $ 178,617 U.S. government and agency debt 56,422 166 — 56,588 Municipal bonds 14,966 7 (1 ) 14,972 Other fixed income securities 16,168 — — 16,168 Total short-term investments $ 265,801 $ 586 $ (42 ) $ 266,345 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015 (in thousands) Corporate debt $ 167,066 $ 13 $ (481 ) $ 166,598 U.S. government and agency debt 62,376 9 (123 ) 62,262 Municipal bonds 22,865 3 (12 ) 22,856 Other fixed income securities 26,835 — (6 ) 26,829 Total short-term investments $ 279,142 $ 25 $ (622 ) $ 278,545
Schedule of contractual maturities of short-term investments	Contractual maturities of short-term investments as of June 30, 2016 are shown below. Under 1 Year 1 to 5 Years Total (in thousands) Corporate debt $ 64,160 $ 114,457 $ 178,617 U.S. government and agency debt 36,796 19,792 56,588 Municipal bonds 8,217 6,755 14,972 Other fixed income securities 14,667 1,501 16,168 Total short-term investments $ 123,840 $ 142,505 $ 266,345

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Financial assets and liabilities measured at fair value on a recurring basis	The tables below present the Company’s financial assets and liabilities measured at fair value on a recurring basis: Fair Value Measurements as of June 30, 2016 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 20,582 $ 4,893 $ 15,689 $ — Cash equivalents measured at net asset value 116,705 — — — Restricted cash 5,000 5,000 — — Short-term investments 266,345 — 266,345 — Fuel derivative contracts: Crude oil call options 1,295 — 1,295 — Heating oil swaps 11,058 — 11,058 — Foreign currency derivatives 484 — 484 — Total assets measured at fair value $ 421,469 $ 9,893 $ 294,871 $ — Fuel derivative contracts: Heating oil swaps $ 3,589 $ — $ 3,589 $ — Foreign currency derivatives 18,148 — 18,148 — Total liabilities measured at fair value $ 21,737 $ — $ 21,737 $ — Fair Value Measurements as of December 31, 2015 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 5,665 $ 1,648 $ 4,017 $ — Cash equivalents measured at net asset value 61,577 — — — Restricted cash 5,000 5,000 — — Short-term investments 278,545 — 278,545 — Fuel derivative contracts: Heating oil put options 1,060 — 1,060 — Foreign currency derivatives 6,550 — 6,550 — Total assets measured at fair value $ 358,397 $ 6,648 $ 290,172 $ — Fuel derivative contracts: Heating oil swaps $ 40,530 $ — $ 40,530 $ — Foreign currency derivatives 1,049 — 1,049 — Interest rate derivative 312 — 312 — Total liabilities measured at fair value $ 41,891 $ — $ 41,891 $ —
Schedule of debt (excluding obligations under capital leases) measured at fair value	The table below presents the Company’s debt (excluding obligations under capital leases) measured at fair value: Fair Value of Debt June 30, 2016 December 31, 2015 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) $ 506,010 $ 499,130 $ — $ — $ 499,130 $ 677,203 $ 665,507 $ — $ 283 $ 665,224

Financial Derivative Instrume26

Financial Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of realized and unrealized gains and losses recorded as nonoperating income (expense)	The following table reflects the amount of realized and unrealized gains and losses recorded as nonoperating income (expense) in the unaudited Consolidated Statements of Operations. Three months ended June 30, Six months ended June 30, Fuel derivative contracts 2016 2015 2016 2015 (in thousands) Losses realized at settlement $ (8,799 ) $ (16,553 ) $ (27,824 ) $ (31,144 ) Reversal of prior period unrealized amounts 22,882 16,327 40,692 29,313 Unrealized gains (losses) that will settle in future periods 7,004 2,252 6,154 (1,830 ) Gains on fuel derivatives recorded as Nonoperating Income (expense) $ 21,087 $ 2,026 $ 19,022 $ (3,661 )
Schedule of fair value of the asset and liability derivatives and net derivative position recorded	The following tables present the gross fair value of asset and liability derivatives that are designated as hedging instruments under ASC 815 and derivatives that are not designated as hedging instruments under ASC 815, as well as the net derivative positions and location of the asset and liability balances within the unaudited Consolidated Balance Sheets. Derivative position as of June 30, 2016 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Foreign currency derivatives Other accrued liabilities 13,145,400 Japanese Yen June 2017 437 (11,980 ) (11,543 ) Other liabilities and deferred credits 4,609,250 Japanese Yen June 2018 25 (5,301 ) (5,276 ) Derivatives not designated as hedges Foreign currency derivatives Other accrued liabilities 1,909,900 Japanese Yen March 2017 22 (867 ) (845 ) Fuel derivative contracts Prepaid expenses and other 66,168 gallons June 2017 12,353 (3,589 ) 8,764 Derivative position as of December 31, 2015 Balance Sheet Notional Amount Final Gross fair Gross fair Net (in thousands) (in thousands) Derivatives designated as hedges Interest rate derivative Other accrued liabilities $51,000 U.S. dollars April 2023 $ — $ (70 ) $ (70 ) Other liabilities and deferred credits (1) — (242 ) (242 ) Foreign currency derivatives Prepaid expenses and other 7,594,750 Japanese Yen December 2016 6,461 (525 ) 5,936 Other liabilities and deferred credits 5,437,400 Japanese Yen December 2017 78 (493 ) (415 ) Derivatives not designated as hedges Foreign currency derivatives Prepaid expenses and other 2,762,000 Japanese Yen August 2016 11 — 11 Other liabilities and deferred credits 2,845 Australian Dollars March 2017 — (31 ) (31 ) Fuel derivative contracts Other accrued liabilities 84,067 gallons December 2016 1,060 (40,530 ) (39,470 ) (1) Represents the noncurrent portion of the $51.0 million interest rate derivative with final maturity in April 2023.
Schedule of realized and unrealized gains and losses of derivatives designated as cash flow hedges	The following table reflects the impact of cash flow hedges designated for hedge accounting treatment and their location within the unaudited Consolidated Statements of Comprehensive Income. (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Three months ended June 30, Three months ended June 30, Three months ended June 30, 2016 2015 2016 2015 2016 2015 (in thousands) Foreign currency derivatives $ 10,938 $ (1,492 ) $ (868 ) $ (4,460 ) $ — $ — Interest rate derivatives — (619 ) 1,235 179 — — (Gain) loss recognized in AOCI on derivatives (effective portion) (Gain) loss reclassified from AOCI (Gain) loss recognized in Six months ended June 30, Six months ended June 30, Six months ended June 30, 2016 2015 2016 2015 2016 2015 (in thousands) Foreign currency derivatives $ 20,155 $ (4,737 ) $ (3,521 ) $ (8,412 ) $ — $ — Interest rate derivatives 923 (62 ) 1,383 366 — —

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of expected maturities of long-term debt	As of June 30, 2016 , the expected maturities of long-term debt for the remainder of 2016 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2016 $ 24,136 2017 48,801 2018 48,244 2019 72,927 2020 21,413 Thereafter 290,488 $ 506,009

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Schedule of Operating Leases	As of June 30, 2016 , the scheduled future minimum rental payments under operating leases with non-cancellable basic terms of more than one year were as follows: Aircraft Other (in thousands) Remaining in 2016 $ 60,688 $ 2,654 2017 117,226 4,710 2018 114,477 4,641 2019 114,332 4,348 2020 94,177 4,173 Thereafter 280,320 22,358 $ 781,220 $ 42,884

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of net periodic benefit cost	The components of net periodic benefit cost for the Company’s defined benefit and other postretirement plans included the following: Three months ended June 30, Six months ended June 30, Components of Net Period Benefit Cost 2016 2015 2016 2015 (in thousands) Service cost $ 3,713 $ 4,225 $ 7,426 $ 8,450 Interest cost 7,582 7,389 15,164 14,778 Expected return on plan assets (4,472 ) (4,716 ) (8,944 ) (9,432 ) Recognized net actuarial loss 1,972 2,737 3,944 5,474 Net periodic benefit cost $ 8,795 $ 9,635 $ 17,590 $ 19,270

Commitments and Contingent Li30

Commitments and Contingent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of firm aircraft and engine orders	As of June 30, 2016 , the Company had the following capital commitments consisting of firm aircraft and engine orders and purchase rights: Aircraft Type Firm Orders Purchase Rights Expected Delivery Dates A321neo aircraft 16 9 Between 2017 and 2020 A330-800neo aircraft 6 6 Between 2019 and 2021 Pratt & Whitney spare engines: A321neo spare engines 2 2 Between 2017 and 2018 Rolls-Royce spare engines: A330-800neo spare engines 2 2 Between 2019 and 2026
Schedule of committed capital and operating expenditures	The gross committed expenditures and committed financings for those deliveries as of June 30, 2016 are detailed below: Capital Operating Total Committed (in thousands) Remaining in 2016 $ 60,610 $ 39,466 $ 100,076 2017 234,984 77,009 311,993 2018 400,377 64,529 464,906 2019 485,458 57,025 542,483 2020 230,973 57,122 288,095 Thereafter 208,937 287,500 496,437 $ 1,621,339 $ 582,651 $ 2,203,990

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Non-cash investing and financing activities for the six months ended June 30, 2016 and 2015 were as follows: Six months ended June 30, 2016 2015 (in thousands) Investing and Financing Activities Not Affecting Cash: Property and equipment acquired through a capital lease $ 6,092 $ 2,791

Condensed Consolidating Finan32

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)	Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2016 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 593,161 $ 1,515 $ (86 ) $ 594,590 Operating Expenses: Aircraft fuel, including taxes and delivery — 83,798 — — 83,798 Wages and benefits — 135,883 — — 135,883 Aircraft rent — 30,066 — — 30,066 Maintenance materials and repairs — 53,941 644 — 54,585 Aircraft and passenger servicing — 30,723 — — 30,723 Commissions and other selling — 31,437 21 (33 ) 31,425 Depreciation and amortization — 26,241 747 — 26,988 Other rentals and landing fees — 24,978 — — 24,978 Purchased services 52 24,319 187 (15 ) 24,543 Other 1,461 30,978 330 (38 ) 32,731 Total 1,513 472,364 1,929 (86 ) 475,720 Operating Income (Loss) (1,513 ) 120,797 (414 ) — 118,870 Nonoperating Income (Expense): Undistributed net income of subsidiaries 80,326 — — (80,326 ) — Interest expense and amortization of debt discounts and issuance costs — (8,910 ) — — (8,910 ) Interest income 65 1,022 — — 1,087 Capitalized interest — 463 — — 463 Gains on fuel derivatives — 21,087 — — 21,087 Loss on extinguishment of debt — (6,643 ) — — (6,643 ) Other, net — 2,686 — — 2,686 Total 80,391 9,705 — (80,326 ) 9,770 Income (Loss) Before Income Taxes 78,878 130,502 (414 ) (80,326 ) 128,640 Income tax expense (benefit) (692 ) 49,762 — — 49,070 Net Income (Loss) $ 79,570 $ 80,740 $ (414 ) $ (80,326 ) $ 79,570 Comprehensive Income (Loss) $ 73,869 $ 75,039 $ (414 ) $ (74,625 ) $ 73,869 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 570,254 $ 1,168 $ (127 ) $ 571,295 Operating Expenses: Aircraft fuel, including taxes and delivery — 112,519 — — 112,519 Wages and benefits — 123,977 — — 123,977 Aircraft rent — 28,817 — — 28,817 Maintenance materials and repairs — 56,555 516 — 57,071 Aircraft and passenger servicing — 29,348 — — 29,348 Commissions and other selling — 30,505 19 (40 ) 30,484 Depreciation and amortization — 26,790 747 — 27,537 Other rentals and landing fees — 23,248 — — 23,248 Purchased services 99 19,736 22 (15 ) 19,842 Other 1,153 25,686 269 (72 ) 27,036 Total 1,252 477,181 1,573 (127 ) 479,879 Operating Income (Loss) (1,252 ) 93,073 (405 ) — 91,416 Nonoperating Income (Expense): Undistributed net income of subsidiaries 49,759 — — (49,759 ) — Interest expense and amortization of debt discounts and issuance costs (156 ) (13,562 ) — — (13,718 ) Interest income 53 672 — — 725 Capitalized interest — 975 — — 975 Gains on fuel derivatives — 2,026 — — 2,026 Loss on extinguishment of debt (287 ) — — — (287 ) Other, net — (1,876 ) — — (1,876 ) Total 49,369 (11,765 ) — (49,759 ) (12,155 ) Income (Loss) Before Income Taxes 48,117 81,308 (405 ) (49,759 ) 79,261 Income tax expense (benefit) (717 ) 31,144 — — 30,427 Net Income (Loss) $ 48,834 $ 50,164 $ (405 ) $ (49,759 ) $ 48,834 Comprehensive Income (Loss) $ 48,934 $ 50,264 $ (405 ) $ (49,859 ) $ 48,934 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six months ended June 30, 2016 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,143,295 $ 2,678 $ (203 ) $ 1,145,770 Operating Expenses: Aircraft fuel, including taxes and delivery — 153,698 — — 153,698 Wages and benefits — 269,526 — — 269,526 Aircraft rent — 59,454 — — 59,454 Maintenance materials and repairs — 113,041 2,048 — 115,089 Aircraft and passenger servicing — 59,274 — — 59,274 Commissions and other selling 1 64,489 37 (71 ) 64,456 Depreciation and amortization — 52,640 1,494 — 54,134 Other rentals and landing fees — 49,412 — — 49,412 Purchased services 87 46,959 259 (30 ) 47,275 Other 2,787 59,574 455 (102 ) 62,714 Total 2,875 928,067 4,293 (203 ) 935,032 Operating Income (Loss) (2,875 ) 215,228 (1,615 ) — 210,738 Nonoperating Income (Expense): Undistributed net income of subsidiaries 132,142 — — (132,142 ) — Interest expense and amortization of debt discounts and issuance costs 117 (20,031 ) — — (19,914 ) Interest income 124 1,807 — — 1,931 Capitalized interest — 688 — — 688 Gains on fuel derivatives — 19,022 — — 19,022 Loss on extinguishment of debt — (9,993 ) — — (9,993 ) Other, net — 9,272 — — 9,272 Total 132,383 765 — (132,142 ) 1,006 Income (Loss) Before Income Taxes 129,508 215,993 (1,615 ) (132,142 ) 211,744 Income tax expense (benefit) (1,528 ) 82,236 — — 80,708 Net Income (Loss) $ 131,036 $ 133,757 $ (1,615 ) $ (132,142 ) $ 131,036 Comprehensive Income (Loss) $ 118,566 $ 121,287 $ (1,615 ) $ (119,672 ) $ 118,566 Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Six months ended June 30, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 1,109,461 $ 2,341 $ (227 ) $ 1,111,575 Operating Expenses: Aircraft fuel, including taxes and delivery — 223,846 — — 223,846 Wages and benefits — 243,991 — — 243,991 Aircraft rent — 57,188 — — 57,188 Maintenance materials and repairs — 111,468 848 — 112,316 Aircraft and passenger servicing — 57,664 — — 57,664 Commissions and other selling 4 60,946 31 (69 ) 60,912 Depreciation and amortization — 51,222 1,494 — 52,716 Other rentals and landing fees — 46,079 — — 46,079 Purchased services 99 40,975 22 (15 ) 41,081 Other 3,138 49,768 439 (143 ) 53,202 Total 3,241 943,147 2,834 (227 ) 948,995 Operating Income (Loss) (3,241 ) 166,314 (493 ) — 162,580 Nonoperating Income (Expense): Undistributed net income of subsidiaries 82,322 — — (82,322 ) — Interest expense and amortization of debt discounts and issuance costs (1,592 ) (27,644 ) — — (29,236 ) Interest income 109 1,252 — — 1,361 Capitalized interest — 2,268 — — 2,268 Losses on fuel derivatives — (3,661 ) — — (3,661 ) Loss on extinguishment of debt (7,242 ) — — — (7,242 ) Other, net — (4,810 ) — — (4,810 ) Total 73,597 (32,595 ) — (82,322 ) (41,320 ) Income (Loss) Before Income Taxes 70,356 133,719 (493 ) (82,322 ) 121,260 Income tax expense (benefit) (4,361 ) 50,904 — — 46,543 Net Income (Loss) $ 74,717 $ 82,815 $ (493 ) $ (82,322 ) $ 74,717 Comprehensive Income (Loss) $ 75,977 $ 84,075 $ (493 ) $ (83,582 ) $ 75,977
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets June 30, 2016 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 70,966 $ 277,558 $ 6,943 $ — $ 355,467 Restricted cash — 5,000 — — 5,000 Short-term investments — 266,345 — 266,345 Accounts receivable, net 61 92,840 759 (228 ) 93,432 Spare parts and supplies, net — 18,150 — — 18,150 Prepaid expenses and other 141 53,374 273 — 53,788 Total 71,168 713,267 7,975 (228 ) 792,182 Property and equipment at cost — 1,982,280 70,159 — 2,052,439 Less accumulated depreciation and amortization — (470,927 ) (6,688 ) — (477,615 ) Property and equipment, net — 1,511,353 63,471 — 1,574,824 Long-term prepayments and other — 69,792 — — 69,792 Deferred tax assets, net 27,587 — — (27,587 ) — Goodwill and other intangible assets, net — 124,039 500 — 124,539 Intercompany receivable — 277,268 — (277,268 ) — Investment in consolidated subsidiaries 736,215 — — (736,215 ) — TOTAL ASSETS $ 834,970 $ 2,695,719 $ 71,946 $ (1,041,298 ) $ 2,561,337 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 411 $ 113,733 $ 480 $ (228 ) $ 114,396 Air traffic liability — 554,638 3,213 — 557,851 Other accrued liabilities 2,048 119,425 302 — 121,775 Current maturities of long-term debt, less discount, and capital lease obligations — 58,352 — — 58,352 Total 2,459 846,148 3,995 (228 ) 852,374 Long-term debt and capital lease obligations — 527,625 — — 527,625 Intercompany payable 266,235 — 11,033 (277,268 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 373,572 — — 373,572 Other liabilities and deferred credits 164 99,417 824 100,405 Deferred tax liabilities, net — 168,836 — (27,587 ) 141,249 Total 164 641,825 824 (27,587 ) 615,226 Shareholders’ equity 566,112 680,121 56,094 (736,215 ) 566,112 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 834,970 $ 2,695,719 $ 71,946 $ (1,041,298 ) $ 2,561,337 Condensed Consolidating Balance Sheets December 31, 2015 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 69,420 $ 203,406 $ 8,676 $ — $ 281,502 Restricted cash — 5,000 — — 5,000 Short-term investments — 278,545 — — 278,545 Accounts receivable, net 61 81,248 625 (211 ) 81,723 Spare parts and supplies, net — 19,164 — — 19,164 Prepaid expenses and other 7 74,948 95 — 75,050 Total 69,488 662,311 9,396 (211 ) 740,984 Property and equipment at cost — 1,927,126 58,126 — 1,985,252 Less accumulated depreciation and amortization — (427,315 ) (5,195 ) — (432,510 ) Property and equipment, net — 1,499,811 52,931 — 1,552,742 Long-term prepayments and other — 70,373 500 — 70,873 Deferred tax assets, net 26,059 — — (26,059 ) — Goodwill and other intangible assets, net — 125,323 — — 125,323 Intercompany receivable — 242,248 — (242,248 ) — Investment in consolidated subsidiaries 596,570 — — (596,570 ) — TOTAL ASSETS $ 692,117 $ 2,600,066 $ 62,827 $ (865,088 ) $ 2,489,922 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 755 $ 100,007 $ 759 $ (211 ) $ 101,310 Air traffic liability — 427,302 3,464 — 430,766 Other accrued liabilities 530 159,583 145 — 160,258 Current maturities of long-term debt, less discount, and capital lease obligations 288 74,153 — — 74,441 Total 1,573 761,045 4,368 (211 ) 766,775 Long-term debt and capital lease obligations — 677,915 — — 677,915 Intercompany payable 242,248 — — (242,248 ) — Other liabilities and deferred credits: 0 Accumulated pension and other postretirement benefit obligations — 372,700 — — 372,700 Other liabilities and deferred credits 2,234 86,861 750 — 89,845 Deferred tax liabilities, net — 162,684 — (26,059 ) 136,625 Total 2,234 622,245 750 (26,059 ) 599,170 Shareholders’ equity 446,062 538,861 57,709 (596,570 ) 446,062 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 692,117 $ 2,600,066 $ 62,827 $ (865,088 ) $ 2,489,922
Schedule of Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2016 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (2,995 ) $ 289,193 $ (732 ) $ 285,466 Cash Flows From Investing Activities: Net payments to affiliates — (26,686 ) — 26,686 — Additions to property and equipment, including pre-delivery deposits — (58,257 ) (12,034 ) (70,291 ) Proceeds from purchase assignment and leaseback transaction 31,851 31,851 Proceeds from disposition of property and equipment — — — — Purchases of investments — (138,235 ) (138,235 ) Sales of investments — 150,651 150,651 Net cash used in investing activities — (40,676 ) (12,034 ) 26,686 (26,024 ) Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (183,607 ) (183,607 ) Repurchases and redemptions of convertible notes (1,426 ) — — — (1,426 ) Net payments from affiliates 15,653 — 11,033 (26,686 ) — Repurchases of common stock (10,075 ) — — — (10,075 ) Excess tax benefit from equity awards — 17,259 — — 17,259 Other 389 (8,017 ) — — (7,628 ) Net cash provided by (used in) financing activities 4,541 (174,365 ) 11,033 (26,686 ) (185,477 ) Net increase (decrease) in cash and cash equivalents 1,546 74,152 (1,733 ) — 73,965 Cash and cash equivalents - Beginning of Period 69,420 203,406 8,676 — 281,502 Cash and cash equivalents - End of Period $ 70,966 $ 277,558 $ 6,943 $ — $ 355,467 Condensed Consolidating Statements of Cash Flows Six months ended June 30, 2015 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (2,349 ) $ 299,009 $ 860 $ — $ 297,520 Cash Flows From Investing Activities: Net payments to affiliates (25,000 ) (170,209 ) — 195,209 — Additions to property and equipment, including pre-delivery deposits — (65,500 ) (7,402 ) — (72,902 ) Proceeds from purchase assignment and leaseback transaction — 86,033 — — 86,033 Net proceeds from disposition of property and equipment — 3,458 55 — 3,513 Purchases of investments — (115,218 ) — — (115,218 ) Sales of investments — 112,886 — — 112,886 Net cash provided by (used in) investing activities (25,000 ) (148,550 ) (7,347 ) 195,209 14,312 Cash Flows From Financing Activities: Repayments of long-term debt and capital lease obligations — (43,460 ) — — (43,460 ) Repurchase of convertible notes (168,407 ) — — — (168,407 ) Net payments from affiliates 170,209 — 25,000 (195,209 ) — Repurchases of Common Stock (17,621 ) — — — (17,621 ) Other 459 (2,108 ) — — (1,649 ) Net cash provided by (used in) financing activities (15,360 ) (45,568 ) 25,000 (195,209 ) (231,137 ) Net increase (decrease) in cash and cash equivalents (42,709 ) 104,891 18,513 — 80,695 Cash and cash equivalents - Beginning of Period 79,532 179,676 4,879 — 264,087 Cash and cash equivalents - End of Period $ 36,823 $ 284,567 $ 23,392 $ — $ 344,782

Significant Accounting Polici33

Significant Accounting Policies Narrative (Details) $ in Millions	Jan. 01, 2016USD ($)
Accounting Standards Update 2015-03 [Member] | Long-term Debt [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Finance Costs, Net	$ 19.8

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Amounts reclassified from AOCI
Foreign currency derivative gains, net	$ (518,572)	$ (499,387)	$ (1,000,599)	$ (968,532)
Total before tax	(128,640)	(79,261)	(211,744)	(121,260)
Tax expense	49,070	30,427	80,708	46,543
Total, net of tax	(79,570)	(48,834)	(131,036)	(74,717)
Total reclassifications for the period	1,412	(983)	806	(1,636)
Gains on derivatives designated as hedging instruments | Foreign currency derivative gains, net
Amounts reclassified from AOCI
Total reclassifications for the period	(542)	(2,773)	(2,191)	(5,230)
Gains on derivatives designated as hedging instruments | Interest rate derivative losses, net
Amounts reclassified from AOCI
Total reclassifications for the period	768	110	587	224
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Total before tax	367	(4,281)	(2,577)	(8,046)
Tax expense	(141)	1,618	973	3,040
Total, net of tax	226	(2,663)	(1,604)	(5,006)
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss | Foreign currency derivative gains, net
Amounts reclassified from AOCI
Foreign currency derivative gains, net	(868)	(4,460)	(3,521)	(8,412)
Gains on derivatives designated as hedging instruments | Amount reclassified from accumulated other comprehensive loss | Interest rate derivative losses, net
Amounts reclassified from AOCI
Interest rate derivative losses, net	1,235	179	944	366
Actuarial loss
Amounts reclassified from AOCI
Amortization of defined benefit plan items	1,915	2,680	3,830	5,360
Prior service cost
Amounts reclassified from AOCI
Amortization of defined benefit plan items	57	57	114	114
Defined benefit pension
Amounts reclassified from AOCI
Amortization of defined benefit plan items	1,972	2,737	3,944	5,474
Tax benefit	(747)	(1,038)	(1,493)	(2,076)
Total reclassifications for the period	1,225	1,699	2,451	3,398
Short-Term Investments
Amounts reclassified from AOCI
Total reclassifications for the period	(39)	(19)	(41)	(28)
Short-Term Investments | Amount reclassified from accumulated other comprehensive loss
Amounts reclassified from AOCI
Total before tax	(58)	(25)	(61)	(35)
Tax expense	19	6	20	7
Total, net of tax	(39)	(19)	(41)	(28)
Realized gain on sales of investments, net	$ (58)	$ (25)	$ (61)	$ (35)

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Loss - Roll Forward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	$ (106,046)	$ (121,652)	$ (99,277)	$ (122,812)
Other comprehensive income (loss) before reclassifications, net of tax	(7,113)	1,083	(13,276)	2,896
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,412	(983)	806	(1,636)
Total other comprehensive income (loss)	(5,701)	100	(12,470)	1,260
Ending balance	(111,747)	(121,552)	(111,747)	(121,552)
Gains (losses) on derivatives designated as hedging instruments | Interest Rate Derivatives
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(768)	(108)	81	254
Other comprehensive income (loss) before reclassifications, net of tax		260	(668)	(216)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	768	110	587	224
Total other comprehensive income (loss)	768	370	(81)	8
Ending balance		262		262
Gains (losses) on derivatives designated as hedging instruments | Foreign Currency Derivatives
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(2,500)	12,268	4,879	12,708
Other comprehensive income (loss) before reclassifications, net of tax	(7,306)	928	(13,036)	2,945
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(542)	(2,773)	(2,191)	(5,230)
Total other comprehensive income (loss)	(7,848)	(1,845)	(15,227)	(2,285)
Ending balance	(10,348)	10,423	(10,348)	10,423
Defined Benefit Pension Items
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(102,938)	(133,862)	(103,865)	(135,520)
Other comprehensive income (loss) before reclassifications, net of tax	3	0	(296)	(41)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,225	1,699	2,451	3,398
Total other comprehensive income (loss)	1,228	1,699	2,155	3,357
Ending balance	(101,710)	(132,163)	(101,710)	(132,163)
Short-Term Investments
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	160	50	(372)	(254)
Other comprehensive income (loss) before reclassifications, net of tax	190	(105)	724	208
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(39)	(19)	(41)	(28)
Total other comprehensive income (loss)	151	(124)	683	180
Ending balance	$ 311	$ (74)	$ 311	$ (74)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Potential Dilution (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net Income	$ 79,570	$ 48,834	$ 131,036	$ 74,717
Denominator:
Weighted average common stock shares outstanding - Basic (in shares)	53,634	54,619	53,574	54,617
Assumed exercise of stock options and awards (in shares)	219	430	247	488
Assumed conversion of convertible note premium (in shares)	0	546	12	2,252
Assumed conversion of warrants (in shares)	0	6,260	0	6,033
Weighted average common stock shares outstanding - Diluted (in shares)	53,853	61,855	53,833	63,390
Net Income Per Share
Basic (in dollars per share)	$ 1.48	$ 0.89	$ 2.45	$ 1.37
Diluted (in dollars per share)	$ 1.48	$ 0.79	$ 2.43	$ 1.18

Earnings Per Share - Share Repu

Earnings Per Share - Share Repurchase Program (Details) - USD ($) shares in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Apr. 30, 2015	Jun. 30, 2016	Jun. 30, 2016
Equity, Class of Treasury Stock [Line Items]
Approved stock repurchase amount	$ 100,000,000
Period of approved stock repurchase program	2 years
Remaining authorized repurchase amount		$ 49,800,000	$ 49,800,000
Common Stock
Equity, Class of Treasury Stock [Line Items]
Stock repurchased		$ 7,600,000	$ 10,100,000
Shares repurchased		209	281

Short-Term Investments (Details

Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Available-for-Sale Securities [Line Items]
Amortized Cost	$ 265,801	$ 279,142
Gross Unrealized Gains	586	25
Gross Unrealized Losses	(42)	(622)
Fair Value	266,345	278,545
Contractual Maturities
Under 1 Year	123,840
1 to 5 Years	142,505
Total	266,345
Corporate debt
Schedule of Available-for-Sale Securities [Line Items]
Amortized Cost	178,245	167,066
Gross Unrealized Gains	413	13
Gross Unrealized Losses	(41)	(481)
Fair Value	178,617	166,598
Contractual Maturities
Under 1 Year	64,160
1 to 5 Years	114,457
Total	178,617
U.S. government and agency debt
Schedule of Available-for-Sale Securities [Line Items]
Amortized Cost	56,422	62,376
Gross Unrealized Gains	166	9
Gross Unrealized Losses	0	(123)
Fair Value	56,588	62,262
Contractual Maturities
Under 1 Year	36,796
1 to 5 Years	19,792
Total	56,588
Municipal bonds
Schedule of Available-for-Sale Securities [Line Items]
Amortized Cost	14,966	22,865
Gross Unrealized Gains	7	3
Gross Unrealized Losses	(1)	(12)
Fair Value	14,972	22,856
Contractual Maturities
Under 1 Year	8,217
1 to 5 Years	6,755
Total	14,972
Other fixed income securities
Schedule of Available-for-Sale Securities [Line Items]
Amortized Cost	16,168	26,835
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(6)
Fair Value	16,168	$ 26,829
Contractual Maturities
Under 1 Year	14,667
1 to 5 Years	1,501
Total	$ 16,168

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Financial Assets and Liabilities, Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Measurements
Short-term investments	$ 266,345	$ 278,545
Recurring basis
Fair Value Measurements
Cash equivalents	20,582	5,665
Cash equivalents measured at net asset value	116,705	61,577
Restricted cash	5,000	5,000
Short-term investments	266,345	278,545
Total assets measured at fair value	421,469	358,397
Total liabilities measured at fair value	21,737	41,891
Recurring basis | Fuel derivative contracts | Crude oil call options
Fair Value Measurements
Derivative contracts	1,295
Recurring basis | Fuel derivative contracts | Heating oil put options
Fair Value Measurements
Derivative contracts		1,060
Recurring basis | Fuel derivative contracts | Heating oil swaps
Fair Value Measurements
Derivative contracts	11,058
Derivative contracts	3,589	40,530
Recurring basis | Foreign Currency Derivatives
Fair Value Measurements
Derivative contracts	484	6,550
Derivative contracts	18,148	1,049
Recurring basis | Interest Rate Derivatives
Fair Value Measurements
Derivative contracts		312
Recurring basis | Level 1
Fair Value Measurements
Cash equivalents	4,893	1,648
Restricted cash	5,000	5,000
Total assets measured at fair value	9,893	6,648
Recurring basis | Level 2
Fair Value Measurements
Cash equivalents	15,689	4,017
Short-term investments	266,345	278,545
Total assets measured at fair value	294,871	290,172
Total liabilities measured at fair value	21,737	41,891
Recurring basis | Level 2 | Fuel derivative contracts | Crude oil call options
Fair Value Measurements
Derivative contracts	1,295
Recurring basis | Level 2 | Fuel derivative contracts | Heating oil put options
Fair Value Measurements
Derivative contracts		1,060
Recurring basis | Level 2 | Fuel derivative contracts | Heating oil swaps
Fair Value Measurements
Derivative contracts	11,058
Derivative contracts	3,589	40,530
Recurring basis | Level 2 | Foreign Currency Derivatives
Fair Value Measurements
Derivative contracts	484	6,550
Derivative contracts	$ 18,148	1,049
Recurring basis | Level 2 | Interest Rate Derivatives
Fair Value Measurements
Derivative contracts		$ 312

Fair Value Measurements - Sch40

Fair Value Measurements - Schedule of Certain Debt (Details) - Recurring basis - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Measurements
Carrying value of debt	$ 506,010	$ 677,203
Fair value of debt	499,130	665,507
Level 2
Fair Value Measurements
Fair value of debt		283
Level 3
Fair Value Measurements
Fair value of debt	$ 499,130	$ 665,224

Financial Derivative Instrume41

Financial Derivative Instruments - Risk Management (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative instrument
Gains on fuel derivatives recorded as Nonoperating Income (expense)	$ 21,087	$ 2,026	$ 19,022	$ (3,661)
Derivatives Not Designated as Hedging Instruments | Fuel derivative contracts
Derivative instrument
Losses realized at settlement	(8,799)	(16,553)	(27,824)	(31,144)
Reversal of prior period unrealized amounts	22,882	16,327	40,692	29,313
Unrealized gains on contracts that will settle in future periods	7,004	2,252	6,154	(1,830)
Gains on fuel derivatives recorded as Nonoperating Income (expense)	$ 21,087	$ 2,026	19,022	$ (3,661)
Derivatives designated as hedges | Foreign Currency Derivatives
Derivative instrument
Accumulated other comprehensive income (loss) expected to be reclassified to earnings in the next 12 months			$ (10,600)
Reclassification estimated time period			12 months

Financial Derivative Instrume42

Financial Derivative Instruments - Derivative Position (Details) ¥ in Thousands, gal in Thousands, AUD in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016JPY (¥)gal	Dec. 31, 2015JPY (¥)gal	Jun. 30, 2016AUD	Jun. 30, 2016USD ($)	Dec. 31, 2015AUD	Dec. 31, 2015USD ($)
Derivatives designated as hedges | Interest Rate Derivatives
Fair Value of Derivatives
Notional Amount						$ 51,000
Derivatives designated as hedges | Interest Rate Derivatives | Other accrued liabilities
Fair Value of Derivatives
Notional Amount						51,000
Gross fair value of assets, current						0
Gross fair value of liabilities, current						(70)
Net derivative position						(70)
Derivatives designated as hedges | Interest Rate Derivatives | Other liabilities and deferred credits
Fair Value of Derivatives
Gross fair value of assets, noncurrent						0
Gross fair value of liabilities, noncurrent						(242)
Net derivative position						(242)
Derivatives designated as hedges | Foreign Currency Derivatives | Other accrued liabilities
Fair Value of Derivatives
Notional Amount	¥ 13,145,400		AUD 43,577
Gross fair value of assets, current				$ 437
Gross fair value of liabilities, current				(11,980)
Net derivative position				(11,543)
Derivatives designated as hedges | Foreign Currency Derivatives | Other liabilities and deferred credits
Fair Value of Derivatives
Notional Amount	4,609,250	¥ 5,437,400	7,513		AUD 8,730
Gross fair value of assets, noncurrent				25		78
Gross fair value of liabilities, noncurrent				(5,301)		(493)
Net derivative position				(5,276)		(415)
Derivatives designated as hedges | Foreign Currency Derivatives | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount		7,594,750			44,917
Gross fair value of assets, current						6,461
Gross fair value of liabilities, current						(525)
Net derivative position						5,936
Derivatives not designated as hedges | Foreign Currency Derivatives | Other accrued liabilities
Fair Value of Derivatives
Notional Amount	¥ 1,909,900		AUD 6,400
Gross fair value of assets, current				22
Gross fair value of liabilities, current				(867)
Net derivative position				(845)
Derivatives not designated as hedges | Foreign Currency Derivatives | Other liabilities and deferred credits
Fair Value of Derivatives
Notional Amount | AUD					2,845
Gross fair value of assets, noncurrent						0
Gross fair value of liabilities, noncurrent						(31)
Net derivative position						(31)
Derivatives not designated as hedges | Foreign Currency Derivatives | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount		¥ 2,762,000			AUD 3,303
Gross fair value of assets, current						11
Gross fair value of liabilities, current						0
Net derivative position						11
Derivatives not designated as hedges | Fuel derivative contracts | Other accrued liabilities
Fair Value of Derivatives
Notional Amount (Volume) (in gallons) | gal		84,067
Gross fair value of assets, current						1,060
Gross fair value of liabilities, current						(40,530)
Net derivative position						$ (39,470)
Derivatives not designated as hedges | Fuel derivative contracts | Prepaid expenses and other
Fair Value of Derivatives
Notional Amount (Volume) (in gallons) | gal	66,168
Gross fair value of assets, current				12,353
Gross fair value of liabilities, current				(3,589)
Net derivative position				$ 8,764

Financial Derivative Instrume43

Financial Derivative Instruments - Impact of Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Foreign Currency Derivatives
Gains (losses) for designated hedge contracts
(Gain) loss recognized in AOCI on derivatives (effective portion)	$ 10,938	$ (1,492)	$ 20,155	$ (4,737)
(Gain) loss reclassified from AOCI into income (effective portion)	(868)	(4,460)	(3,521)	(8,412)
(Gain) loss recognized in nonoperating (income) expense (ineffective portion)	0	0	0	0
Interest Rate Derivatives
Gains (losses) for designated hedge contracts
(Gain) loss recognized in AOCI on derivatives (effective portion)	0	(619)	923	(62)
(Gain) loss reclassified from AOCI into income (effective portion)	1,235	179	1,383	366
(Gain) loss recognized in nonoperating (income) expense (ineffective portion)	$ 0	$ 0	$ 0	$ 0

Financial Derivative Instrume44

Financial Derivative Instruments - Risk and Collateral (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral posted with counterparties	$ 1,100,000	$ 0

Debt - Schedule of Maturities (

Debt - Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2016USD ($)
Debt Disclosure [Abstract]
Remaining months in 2016	$ 24,136
2,017	48,801
2,018	48,244
2,019	72,927
2,020	21,413
Thereafter	290,488
Long-term Debt, Gross	$ 506,009

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ (6,643)	$ (287)	$ (9,993)	$ (7,242)
5% convertible notes, due in 2016
Debt Instrument [Line Items]
Repurchase of convertible notes, principal amount	$ 88,700		$ 140,500

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)
Aircraft
Operating Leased Assets [Line Items]
Remaining in 2016	$ 60,688
2,017	117,226
2,018	114,477
2,019	114,332
2,020	94,177
Thereafter	280,320
Total future minimum rental payments	781,220
Other
Operating Leased Assets [Line Items]
Remaining in 2016	2,654
2,017	4,710
2,018	4,641
2,019	4,348
2,020	4,173
Thereafter	22,358
Total future minimum rental payments	$ 42,884
Airbus A330-200
Operating Leased Assets [Line Items]
Term of Lease	6 years

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Components of Net Periodic Benefit Cost
Service cost	$ 3,713	$ 4,225	$ 7,426	$ 8,450
Interest cost	7,582	7,389	15,164	14,778
Expected return on plan assets	(4,472)	(4,716)	(8,944)	(9,432)
Recognized net actuarial loss	1,972	2,737	3,944	5,474
Net periodic benefit cost	8,795	9,635	17,590	19,270
Employer contribution	11,000	$ 800	11,300	$ 13,600
Contributions above minimum funding requirements	$ 5,700		$ 5,700

Commitments and Contingent Li49

Commitments and Contingent Liabilities - Capital Commitments and Operating Expenditures (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)spare_engine_orderedaircraft_purchase_rightaircraft_firm_order
Total Committed Expenditures
Remaining months in 2016	$ 100,076
2,017	311,993
2,018	464,906
2,019	542,483
2,020	288,095
Thereafter	496,437
Total	2,203,990
Capital
Total Committed Expenditures
Remaining months in 2016	60,610
2,017	234,984
2,018	400,377
2,019	485,458
2,020	230,973
Thereafter	208,937
Total	$ 1,621,339
Capital | A321neo aircraft
Long-term Purchase Commitment [Line Items]
Number of firm aircraft orders | aircraft_firm_order	16
Number of aircraft purchase rights | aircraft_purchase_right	9
Capital | A321neo aircraft | Pratt & Whitney spare engines
Long-term Purchase Commitment [Line Items]
Firm orders, number of spare engines | spare_engine_ordered	2
Number of spare engine purchase rights | spare_engine_ordered	2
Capital | A330-800neo aircraft
Long-term Purchase Commitment [Line Items]
Number of firm aircraft orders | aircraft_firm_order	6
Number of aircraft purchase rights | aircraft_purchase_right	6
Capital | A330-800neo aircraft | Rolls-Royce spare engines
Long-term Purchase Commitment [Line Items]
Firm orders, number of spare engines | spare_engine_ordered	2
Number of spare engine purchase rights | spare_engine_ordered	2
Operating
Total Committed Expenditures
Remaining months in 2016	$ 39,466
2,017	77,009
2,018	64,529
2,019	57,025
2,020	57,122
Thereafter	287,500
Total	$ 582,651

Commitments and Contingent Li50

Commitments and Contingent Liabilities - Narrative (Details) - Credit Card Processing Agreements - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Long-term Purchase Commitment [Line Items]
Restricted cash	$ 5	$ 5
Maximum limit of holdback (as a percent)	100.00%

Supplemental Cash Flow Inform51

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Supplemental Cash Flow Information [Abstract]
Property and equipment acquired through a capital lease	$ 6,092	$ 2,791

Condensed Consolidating Finan52

Condensed Consolidating Financial Information - Narrative and Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)pass_through_trust	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)pass_through_trust	Jun. 30, 2015USD ($)
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	$ 594,590	$ 571,295	$ 1,145,770	$ 1,111,575
Operating Expenses:
Aircraft fuel, including taxes and delivery	83,798	112,519	153,698	223,846
Wages and benefits	135,883	123,977	269,526	243,991
Aircraft rent	30,066	28,817	59,454	57,188
Maintenance, materials and repairs	54,585	57,071	115,089	112,316
Aircraft and passenger servicing	30,723	29,348	59,274	57,664
Commissions and other selling	31,425	30,484	64,456	60,912
Depreciation and amortization	26,988	27,537	54,134	52,716
Other rentals and landing fees	24,978	23,248	49,412	46,079
Purchased services	24,543	19,842	47,275	41,081
Other	32,731	27,036	62,714	53,202
Total	475,720	479,879	935,032	948,995
Operating Income	118,870	91,416	210,738	162,580
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(8,910)	(13,718)	(19,914)	(29,236)
Interest income	1,087	725	1,931	1,361
Capitalized interest	463	975	688	2,268
Gains on fuel derivatives	21,087	2,026	19,022	(3,661)
Loss on extinguishment of debt	(6,643)	(287)	(9,993)	(7,242)
Other, net	2,686	(1,876)	9,272	(4,810)
Total	9,770	(12,155)	1,006	(41,320)
Income Before Income Taxes	128,640	79,261	211,744	121,260
Income tax expense	49,070	30,427	80,708	46,543
Net Income	79,570	48,834	131,036	74,717
Comprehensive Income (Loss)	73,869	48,934	118,566	75,977
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	(86)	(127)	(203)	(227)
Operating Expenses:
Commissions and other selling	(33)	(40)	(71)	(69)
Purchased services	(15)	(15)	(30)	(15)
Other	(38)	(72)	(102)	(143)
Total	(86)	(127)	(203)	(227)
Operating Income	0	0	0	0
Nonoperating Income (Expense):
Undistributed net income of subsidiaries	(80,326)	(49,759)	(132,142)	(82,322)
Total	(80,326)	(49,759)	(132,142)	(82,322)
Income Before Income Taxes	(80,326)	(49,759)	(132,142)	(82,322)
Net Income	(80,326)	(49,759)	(132,142)	(82,322)
Comprehensive Income (Loss)	(74,625)	(49,859)	(119,672)	(83,582)
Parent Issuer / Guarantor
Operating Expenses:
Commissions and other selling			1	4
Purchased services	52	99	87	99
Other	1,461	1,153	2,787	3,138
Total	1,513	1,252	2,875	3,241
Operating Income	(1,513)	(1,252)	(2,875)	(3,241)
Nonoperating Income (Expense):
Undistributed net income of subsidiaries	80,326	49,759	132,142	82,322
Interest expense and amortization of debt discounts and issuance costs		(156)	117	(1,592)
Interest income	65	53	124	109
Loss on extinguishment of debt		(287)		(7,242)
Total	80,391	49,369	132,383	73,597
Income Before Income Taxes	78,878	48,117	129,508	70,356
Income tax expense	(692)	(717)	(1,528)	(4,361)
Net Income	79,570	48,834	131,036	74,717
Comprehensive Income (Loss)	$ 73,869	48,934	$ 118,566	75,977
Subsidiary Issuer / Guarantor
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Number of pass-through trusts | pass_through_trust	2		2
Noncontrolling Interest, Ownership Percentage by Parent	100.00%		100.00%
Operating Revenue	$ 593,161	570,254	$ 1,143,295	1,109,461
Operating Expenses:
Aircraft fuel, including taxes and delivery	83,798	112,519	153,698	223,846
Wages and benefits	135,883	123,977	269,526	243,991
Aircraft rent	30,066	28,817	59,454	57,188
Maintenance, materials and repairs	53,941	56,555	113,041	111,468
Aircraft and passenger servicing	30,723	29,348	59,274	57,664
Commissions and other selling	31,437	30,505	64,489	60,946
Depreciation and amortization	26,241	26,790	52,640	51,222
Other rentals and landing fees	24,978	23,248	49,412	46,079
Purchased services	24,319	19,736	46,959	40,975
Other	30,978	25,686	59,574	49,768
Total	472,364	477,181	928,067	943,147
Operating Income	120,797	93,073	215,228	166,314
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(8,910)	(13,562)	(20,031)	(27,644)
Interest income	1,022	672	1,807	1,252
Capitalized interest	463	975	688	2,268
Gains on fuel derivatives	21,087	2,026	19,022	(3,661)
Loss on extinguishment of debt	(6,643)		(9,993)
Other, net	2,686	(1,876)	9,272	(4,810)
Total	9,705	(11,765)	765	(32,595)
Income Before Income Taxes	130,502	81,308	215,993	133,719
Income tax expense	49,762	31,144	82,236	50,904
Net Income	80,740	50,164	133,757	82,815
Comprehensive Income (Loss)	75,039	50,264	121,287	84,075
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	1,515	1,168	2,678	2,341
Operating Expenses:
Maintenance, materials and repairs	644	516	2,048	848
Commissions and other selling	21	19	37	31
Depreciation and amortization	747	747	1,494	1,494
Purchased services	187	22	259	22
Other	330	269	455	439
Total	1,929	1,573	4,293	2,834
Operating Income	(414)	(405)	(1,615)	(493)
Nonoperating Income (Expense):
Total	0	0	0	0
Income Before Income Taxes	(414)	(405)	(1,615)	(493)
Net Income	(414)	(405)	(1,615)	(493)
Comprehensive Income (Loss)	$ (414)	$ (405)	$ (1,615)	$ (493)

Condensed Consolidating Finan53

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 355,467	$ 281,502	$ 344,782	$ 264,087
Restricted cash	5,000	5,000
Short-term investments	266,345	278,545
Accounts receivable, net	93,432	81,723
Spare parts and supplies, net	18,150	19,164
Prepaid expenses and other	53,788	75,050
Total	792,182	740,984
Property and equipment at cost	2,052,439	1,985,252
Less accumulated depreciation and amortization	(477,615)	(432,510)
Property and equipment, net	1,574,824	1,552,742
Long-term prepayments and other	69,792	70,873
Goodwill and other intangible assets, net	124,539	125,323
Total Assets	2,561,337	2,489,922
Current liabilities:
Accounts payable	114,396	101,310
Air traffic liability	557,851	430,766
Other accrued liabilities	121,775	160,258
Current maturities of long-term debt, less discount, and capital lease obligations	58,352	74,441
Total	852,374	766,775
Long-term debt and capital lease obligations	527,625	677,915
Other liabilities and deferred credits:
Accumulated pension and other postretirement benefit obligations	373,572	372,700
Other liabilities and deferred credits	100,405	89,845
Deferred tax liabilities, net	141,249	136,625
Total	615,226	599,170
Shareholders’ equity	566,112	446,062
Total Liabilities and Shareholders’ Equity	2,561,337	2,489,922
Eliminations
Current assets:
Cash and cash equivalents	0		0
Accounts receivable, net	(228)	(211)
Total	(228)	(211)
Deferred tax assets, net	(27,587)	(26,059)
Intercompany receivable	(277,268)	(242,248)
Investment in consolidated subsidiaries	(736,215)	(596,570)
Total Assets	(1,041,298)	(865,088)
Current liabilities:
Accounts payable	(228)	(211)
Total	(228)	(211)
Intercompany payable	(277,268)	(242,248)
Other liabilities and deferred credits:
Deferred tax liabilities, net	(27,587)	(26,059)
Total	(27,587)	(26,059)
Shareholders’ equity	(736,215)	(596,570)
Total Liabilities and Shareholders’ Equity	(1,041,298)	(865,088)
Parent Issuer / Guarantor
Current assets:
Cash and cash equivalents	70,966	69,420	36,823	79,532
Accounts receivable, net	61	61
Prepaid expenses and other	141	7
Total	71,168	69,488
Deferred tax assets, net	27,587	26,059
Investment in consolidated subsidiaries	736,215	596,570
Total Assets	834,970	692,117
Current liabilities:
Accounts payable	411	755
Other accrued liabilities	2,048	530
Current maturities of long-term debt, less discount, and capital lease obligations		288
Total	2,459	1,573
Intercompany payable	266,235	242,248
Other liabilities and deferred credits:
Other liabilities and deferred credits	164	2,234
Total	164	2,234
Shareholders’ equity	566,112	446,062
Total Liabilities and Shareholders’ Equity	834,970	692,117
Subsidiary Issuer / Guarantor
Current assets:
Cash and cash equivalents	277,558	203,406	284,567	179,676
Restricted cash	5,000	5,000
Short-term investments	266,345	278,545
Accounts receivable, net	92,840	81,248
Spare parts and supplies, net	18,150	19,164
Prepaid expenses and other	53,374	74,948
Total	713,267	662,311
Property and equipment at cost	1,982,280	1,927,126
Less accumulated depreciation and amortization	(470,927)	(427,315)
Property and equipment, net	1,511,353	1,499,811
Long-term prepayments and other	69,792	70,373
Goodwill and other intangible assets, net	124,039	125,323
Intercompany receivable	277,268	242,248
Total Assets	2,695,719	2,600,066
Current liabilities:
Accounts payable	113,733	100,007
Air traffic liability	554,638	427,302
Other accrued liabilities	119,425	159,583
Current maturities of long-term debt, less discount, and capital lease obligations	58,352	74,153
Total	846,148	761,045
Long-term debt and capital lease obligations	527,625	677,915
Other liabilities and deferred credits:
Accumulated pension and other postretirement benefit obligations	373,572	372,700
Other liabilities and deferred credits	99,417	86,861
Deferred tax liabilities, net	168,836	162,684
Total	641,825	622,245
Shareholders’ equity	680,121	538,861
Total Liabilities and Shareholders’ Equity	2,695,719	2,600,066
Non-Guarantor Subsidiaries
Current assets:
Cash and cash equivalents	6,943	8,676	$ 23,392	$ 4,879
Accounts receivable, net	759	625
Prepaid expenses and other	273	95
Total	7,975	9,396
Property and equipment at cost	70,159	58,126
Less accumulated depreciation and amortization	(6,688)	(5,195)
Property and equipment, net	63,471	52,931
Long-term prepayments and other		500
Goodwill and other intangible assets, net	500
Total Assets	71,946	62,827
Current liabilities:
Accounts payable	480	759
Air traffic liability	3,213	3,464
Other accrued liabilities	302	145
Total	3,995	4,368
Intercompany payable	11,033
Other liabilities and deferred credits:
Other liabilities and deferred credits	824	750
Total	824	750
Shareholders’ equity	56,094	57,709
Total Liabilities and Shareholders’ Equity	$ 71,946	$ 62,827

Condensed Consolidating Finan54

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	$ 285,466	$ 297,520
Cash Flows From Investing Activities:
Additions to property and equipment, including pre-delivery deposits	(70,291)	(72,902)
Proceeds from purchase assignment and leaseback transactions	31,851	86,033
Proceeds from disposition of property and equipment	0	3,513
Purchases of investments	(138,235)	(115,218)
Sales of investments	150,651	112,886
Net cash provided by (used in) investing activities	(26,024)	14,312
Cash Flows From Financing Activities:
Repayments of long-term debt and capital lease obligations	(183,607)	(43,460)
Repurchases and redemptions of convertible notes	(1,426)	(168,407)
Repurchases of common stock	(10,075)	(17,621)
Excess tax benefit from equity awards	17,259	0
Other	(7,628)	(1,649)
Net cash used in financing activities	(185,477)	(231,137)
Net increase in cash and cash equivalents	73,965	80,695
Cash and cash equivalents - Beginning of Period	281,502	264,087
Cash and cash equivalents - End of Period	355,467	344,782
Eliminations
Cash Flows From Investing Activities:
Net payments to affiliates	26,686	195,209
Net cash provided by (used in) investing activities	26,686	195,209
Cash Flows From Financing Activities:
Net payments from affiliates	(26,686)	(195,209)
Net cash used in financing activities	(26,686)	(195,209)
Cash and cash equivalents - End of Period	0	0
Parent Issuer / Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	(2,995)	(2,349)
Cash Flows From Investing Activities:
Net payments to affiliates		(25,000)
Net cash provided by (used in) investing activities	0	(25,000)
Cash Flows From Financing Activities:
Repurchases and redemptions of convertible notes	(1,426)	(168,407)
Net payments from affiliates	15,653	170,209
Repurchases of common stock	(10,075)	(17,621)
Other	389	459
Net cash used in financing activities	4,541	(15,360)
Net increase in cash and cash equivalents	1,546	(42,709)
Cash and cash equivalents - Beginning of Period	69,420	79,532
Cash and cash equivalents - End of Period	70,966	36,823
Subsidiary Issuer / Guarantor
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	289,193	299,009
Cash Flows From Investing Activities:
Net payments to affiliates	(26,686)	(170,209)
Additions to property and equipment, including pre-delivery deposits	(58,257)	(65,500)
Proceeds from purchase assignment and leaseback transactions	31,851	86,033
Proceeds from disposition of property and equipment	0	3,458
Purchases of investments	(138,235)	(115,218)
Sales of investments	150,651	112,886
Net cash provided by (used in) investing activities	(40,676)	(148,550)
Cash Flows From Financing Activities:
Repayments of long-term debt and capital lease obligations	(183,607)	(43,460)
Excess tax benefit from equity awards	17,259
Other	(8,017)	(2,108)
Net cash used in financing activities	(174,365)	(45,568)
Net increase in cash and cash equivalents	74,152	104,891
Cash and cash equivalents - Beginning of Period	203,406	179,676
Cash and cash equivalents - End of Period	277,558	284,567
Non-Guarantor Subsidiaries
Condensed Consolidating Statements of Cash Flows
Net cash provided by Operating Activities	(732)	860
Cash Flows From Investing Activities:
Additions to property and equipment, including pre-delivery deposits	(12,034)	(7,402)
Proceeds from disposition of property and equipment	0	55
Net cash provided by (used in) investing activities	(12,034)	(7,347)
Cash Flows From Financing Activities:
Net payments from affiliates	11,033	25,000
Net cash used in financing activities	11,033	25,000
Net increase in cash and cash equivalents	(1,733)	18,513
Cash and cash equivalents - Beginning of Period	8,676	4,879
Cash and cash equivalents - End of Period	$ 6,943	$ 23,392