Hawaiian (HA) 10-Q 26 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 21, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	1-31443
Entity Registrant Name	HAWAIIAN HOLDINGS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0879698
Entity Address, Address Line One	3375 Koapaka Street,
Entity Address, Address Line Two	Suite G-350
Entity Address, City or Town	Honolulu,
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96819
City Area Code	(808)
Local Phone Number	835-3700
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	HA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,547,554
Entity Central Index Key	0001172222
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Revenue:
Total	$ 612,603	$ 477,214
Operating Expenses:
Wages and benefits	241,933	203,099
Aircraft fuel, including taxes and delivery	197,625	150,982
Maintenance, materials and repairs	50,287	55,650
Aircraft and passenger servicing	42,532	33,815
Depreciation and amortization	32,667	33,755
Aircraft rent	28,171	26,276
Commissions and other selling	28,238	20,647
Other rentals and landing fees	38,720	34,611
Purchased services	35,072	30,687
Other	34,785	35,497
Total	730,030	625,019
Operating Loss	(117,427)	(147,805)
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(22,880)	(25,037)
Losses on fuel derivatives	(5,065)	0
Other components of net periodic benefit cost	(1,494)	1,286
Interest income	16,465	4,434
Capitalized interest	1,458	1,052
Gains (losses) on investments, net	697	(12,364)
Gains on foreign debt	2,260	11,762
Other, net	155	374
Total	(8,404)	(18,493)
Loss Before Income Taxes	(125,831)	(166,298)
Income tax benefit	(27,574)	(33,020)
Net Loss	$ (98,257)	$ (133,278)
Net Loss Per Share
Basic (in dollars per share)	$ (1.91)	$ (2.60)
Diluted (in dollars per share)	$ (1.91)	$ (2.60)
Weighted Average Number of Common Stock Shares Outstanding:
Basic (in shares)	51,507	51,288
Diluted (in shares)	51,507	51,288
Passenger
Operating Revenue:
Total	$ 548,526	$ 404,029
Other
Operating Revenue:
Total	$ 64,077	$ 73,185

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Loss	$ (98,257)	$ (133,278)
Other comprehensive loss, net:
Net change related to employee benefit plans, net of tax benefit of $2,316 and net of tax expense of $208 for 2023 and 2022, respectively	(7,078)	630
Net change in available-for-sale investments, net of tax expense of $1,645 and net of tax benefit of $5,486 for 2023 and 2022, respectively	5,026	(16,640)
Total other comprehensive loss	(2,052)	(16,010)
Total Comprehensive Loss	$ (100,309)	$ (149,288)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net change related to employee benefit plans, tax benefit/expense	$ 2,316	$ 208
Net change in available-for-sale investments, tax expense/benefit	$ 1,645	$ 5,486

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 271,855	$ 229,122
Restricted cash	17,648	17,498
Short-term investments	1,111,082	1,147,193
Accounts receivable, net	99,880	113,862
Income taxes receivable	3,382	70,204
Spare parts and supplies, net	38,905	36,875
Prepaid expenses and other	83,021	63,553
Total	1,625,773	1,678,307
Property and equipment, less accumulated depreciation and amortization of $1,167,795 and $1,135,262 as of March 31, 2023 and December 31, 2022, respectively	1,937,797	1,874,352
Other Assets:
Assets held-for-sale	5,024	14,019
Operating lease right-of-use assets	439,228	459,128
Long-term prepayments and other	106,136	100,317
Intangible assets, net	13,500	13,500
Total Assets	4,127,458	4,139,623
Current Liabilities:
Accounts payable	202,864	196,009
Air traffic liability and current frequent flyer deferred revenue	746,467	590,796
Other accrued liabilities	186,911	182,036
Current maturities of long-term debt, less discount	46,176	47,836
Current maturities of finance lease obligations	24,819	25,789
Current maturities of operating leases	78,620	77,858
Total	1,285,857	1,120,324
Long-Term Debt	1,566,382	1,583,889
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	69,895	75,221
Noncurrent operating leases	328,370	347,726
Accumulated pension and other post-retirement benefit obligations	141,508	135,775
Other liabilities and deferred credits	74,588	94,654
Noncurrent frequent flyer deferred revenue	325,407	318,369
Deferred tax liability, net	102,131	130,400
Total	1,041,899	1,102,145
Commitments and Contingencies
Shareholders’ Equity:
Special preferred stock, $0.01 par value per share, three shares issued and outstanding as of March 31, 2023 and December 31, 2022	0	0
Common stock, $0.01 par value per share, 51,546,972 and 51,450,904 shares outstanding as of March 31, 2023 and December 31, 2022, respectively	515	514
Capital in excess of par value	287,524	287,161
Accumulated income	42,499	140,756
Accumulated other comprehensive loss, net	(97,218)	(95,166)
Total	233,320	333,265
Total Liabilities and Shareholders’ Equity	$ 4,127,458	$ 4,139,623

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 1,167,795	$ 1,135,262
Special preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Special preferred stock, shares issued (in shares)	3	3
Special preferred stock, shares outstanding (in shares)	3	3
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares outstanding (in shares)	51,546,972	51,450,904

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock		Special Preferred Stock		Capital In Excess of Par Value	Accumulated Income	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2021	$ 569,086	$ 512	[1]	$ 0	[2]	$ 269,575	$ 380,837	$ (81,838)
Increase (Decrease) in Stockholders' Equity
Net Loss	(133,278)						(133,278)
Other comprehensive loss, net	(16,010)							(16,010)
Issuance of shares of common stock, net of shares withheld for taxes	(1,489)	1	[1]			(1,490)
Share-based compensation expense	1,943					1,943
Ending balance at Mar. 31, 2022	420,252	513	[1]	0	[2]	270,028	247,559	(97,848)
Beginning balance at Dec. 31, 2022	333,265	514	[3]	0	[4]	287,161	140,756	(95,166)
Increase (Decrease) in Stockholders' Equity
Net Loss	(98,257)						(98,257)
Other comprehensive loss, net	(2,052)							(2,052)
Issuance of shares of common stock, net of shares withheld for taxes	(1,066)	1	[3]			(1,067)
Share-based compensation expense	1,430					1,430
Ending balance at Mar. 31, 2023	$ 233,320	$ 515	[3]	$ 0	[4]	$ 287,524	$ 42,499	$ (97,218)
[1]Common Stock—$0.01 par value; 118,000,000 authorized as of March 31, 2022 and December 31, 2021.[2]Special Preferred Stock—$0.01 par value; 2,000,000 shares authorized as of March 31, 2022 and December 31, 2021.[3]Common Stock—$0.01 par value; 118,000,000 authorized as of March 31, 2023 and December 31, 2022.[4]Special Preferred Stock—$0.01 par value; 2,000,000 shares authorized as of March 31, 2023 and December 31, 2022.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Issuance of common stock related to stock awards (in shares)	131,858	93,701
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	118,000,000	118,000,000	118,000,000	118,000,000
Special preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Special preferred stock, shares authorized (in shares)	2,000,000	2,000,000	2,000,000	2,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Cash Flows [Abstract]
Net cash provided by Operating Activities	$ 118,291	$ 22,154
Cash flows from Investing Activities:
Additions to property and equipment, including pre-delivery payments	(106,215)	(9,066)
Proceeds from the disposition of aircraft and aircraft related equipment	9,563	1,124
Purchases of investments	(96,806)	(263,161)
Proceeds from sales and maturities of investments	144,069	307,780
Net cash provided by (used in) investing activities	(49,389)	36,677
Cash flows from Financing Activities:
Repayments of long-term debt and finance lease obligations	(24,953)	(66,704)
Payment for taxes withheld for stock compensation	(1,066)	(1,490)
Net cash used in financing activities	(26,019)	(68,194)
Net increase (decrease) in cash and cash equivalents	42,883	(9,363)
Cash, cash equivalents, and restricted cash - Beginning of Period	246,620	507,828
Cash, cash equivalents, and restricted cash - End of Period	$ 289,503	$ 498,465

General

General	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Business and Basis of Presentation Hawaiian Holdings, Inc. (the Company) and its direct wholly owned subsidiary, Hawaiian Airlines, Inc. (Hawaiian), are incorporated in the State of Delaware. Unless the context otherwise requires, the terms the Company, we, us, and our in this Quarterly Report on Form 10-Q refer to Hawaiian Holdings, Inc. and its consolidated subsidiaries. The Company’s primary asset is its sole ownership of all issued and outstanding shares of common stock of 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 variations in the demand for air travel, 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 for the entire year. Furthermore, the severe impacts of the global coronavirus (COVID-19) pandemic make any comparison to prior or future periods unreliable. 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, 2022. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Reclassifications out of accumulated other comprehensive income (loss) by component are as follows: Details about accumulated other comprehensive income (loss) components Three months ended March 31, Affected line items in the statement where net income is presented 2023 2022 (in thousands) Amortization of defined benefit plan items Actuarial loss $ 450 $ 532 Nonoperating Income (Expense), Other, net Prior service cost 145 92 Nonoperating Income (Expense), Other, net Total before tax 595 624 Tax benefit (147) (155) Total, net of tax $ 448 $ 469 Short-term investments Realized gain on sales of investments $ (393) $ (3,044) Gains (losses) on investments, net Realized loss on sales of investments 911 4,931 Gains (losses) on investments, net Total before tax 518 1,887 Income tax expense (benefit) 128 (414) Total, net of tax $ 646 $ 1,473 Total reclassifications for the period $ 1,094 $ 1,942 A roll-forward of the amounts included in accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2023 and 2022 is as follows: Three months ended March 31, 2023 Defined Benefit Short-Term Investments Total (in thousands) Beginning balance $ (59,439) $ (35,727) $ (95,166) Other comprehensive income (loss) before reclassifications, net of tax (7,526) 4,380 (3,146) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 448 646 1,094 Net current-period other comprehensive income (loss) (7,078) 5,026 (2,052) Ending balance $ (66,517) $ (30,701) $ (97,218) Three months ended March 31, 2022 Defined Benefit Plan Items Short-Term Investments Total (in thousands) Beginning balance $ (75,025) $ (6,813) $ (81,838) Other comprehensive income (loss) before reclassifications, net of tax 161 (18,113) (17,952) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 469 1,473 1,942 Net current-period other comprehensive income (loss) 630 (16,640) (16,010) Ending balance $ (74,395) $ (23,453) $ (97,848)

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share Basic loss per share, which excludes dilution, is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding for the period. The potentially dilutive shares that were excluded from the computation of diluted weighted average common stock shares outstanding because their effect would have been antidilutive was 95,819 and 488,478 for the three months ended March 31, 2023 and 2022, respectively. Unvested warrant shares held by Amazon have not been included in the computation as their performance condition has not yet been satisfied. As of March 31, 2023 and 2022, the unvested Amazon warrant shares excluded from antidilutive shares were 8,183,451 and 0, respectively. Refer to Note 12 to the Notes to Consolidated Financial Statements for additional discussion. The following table shows the computation of basic and diluted loss per share: Three Months Ended March 31, 2023 2022 (in thousands, except for per share data) Numerator: Net Loss $ (98,257) $ (133,278) Denominator: Weighted average common stock shares outstanding - Basic 51,507 51,288 Weighted average common stock shares outstanding - Diluted 51,507 51,288 Net Loss Per Share Basic $ (1.91) $ (2.60) Diluted $ (1.91) $ (2.60)

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue RecognitionThe majority of the Company's passenger revenue is derived from passenger ticket sales. Other revenue is primarily derived from the Company's cargo operations and loyalty program. The Company's primary operations are that of its wholly owned subsidiary, Hawaiian. Principally all operations of Hawaiian either originate and/or end in the state of Hawai'i. The management of such operations is based on a system-wide approach due to the interdependence of Hawaiian's route structure in its various markets. As Hawaiian is engaged in only one significant line of business (i.e., air transportation), the Company has concluded that it has only one segment. The Company's operating revenues by geographic region (as defined by the U.S. Department of Transportation (DOT)) are summarized below: Three Months Ended March 31, 2023 2022 Geographic Information (in thousands) Domestic $ 486,129 $ 438,416 Pacific 126,474 38,798 Total operating revenue $ 612,603 $ 477,214 Hawaiian attributes operating revenue by geographic region based on the destination of each flight segment. Hawaiian's tangible assets consist primarily of flight equipment, which is mobile across geographic markets, and therefore has not been allocated to specific geographic regions. Other operating revenue consists of cargo revenue, ground handling fees, commissions, and fees earned under certain joint marketing agreements with other companies. These amounts are recognized when the service is provided. Three Months Ended March 31, 2023 2022 Passenger Revenue by Type (in thousands) Passenger revenue, excluding frequent flyer $ 505,962 $ 372,181 Frequent flyer revenue, transportation component 42,564 31,848 Passenger Revenue $ 548,526 $ 404,029 Other revenue (e.g., cargo and other miscellaneous) $ 35,139 $ 45,816 Frequent flyer revenue, marketing and brand component 28,938 27,369 Other Revenue $ 64,077 $ 73,185 As of March 31, 2023 and December 31, 2022, the Company's air traffic liability balance, as it relates to passenger tickets (excluding frequent flyer liability), was $569.4 million and $414.5 million, respectively, which generally represents revenue that is expected to be realized in future periods. During the three months ended March 31, 2023 and 2022, the amount of passenger ticket revenue recognized that was included in air traffic liability as of the beginning of the respective period was $294.5 million and $198.8 million, respectively. Non-refundable tickets sold and credits issued generally expire 13 months from the date of issuance or scheduled flight, as applicable. In April 2020, the Company announced the waiver of certain change fees and extended ticket validity for up to 24 months for (a) tickets issued between March 1, 2020 and December 31, 2020 and (b) tickets issued prior to March 1, 2020 for original travel between March 1, 2020 and February 28, 2021. In December 2021, the Company announced the further extension of ticket validity to December 31, 2022, which also included all Main Cabin and First Class passenger tickets purchased in 2021. The Company records an estimate of breakage revenue on the scheduled flight date for tickets that will expire unused. These estimates are based on the evaluation of actual historical results, available market information, forecasted trends and the extension of the expiration date for certain tickets impacted by the COVID-19 pandemic. At December 31, 2022, $151.9 million of passenger tickets expired unused after receiving extended validity dates throughout the prior two years. During the three months ended March 31, 2023 and 2022, the Company recognized advanced breakage of $12.6 million and $17.8 million, respectively. Despite improvements in the industry and overall travel demand, unflown rates continue to have higher than normal volatility in comparison to historical trends. The Company will continue to monitor customers' travel behavior and may adjust its estimates in the future. Frequent Flyer Accounting The Company's frequent flyer liability is recorded in air traffic liability and Noncurrent frequent flyer deferred revenue on its unaudited Consolidated Balance Sheets. The table below presents the Company's frequent flyer liability balance: March 31, 2023 December 31, 2022 (in thousands) Air traffic liability (current portion of frequent flyer revenue) $ 169,885 $ 166,211 Noncurrent frequent flyer deferred revenue 325,407 318,369 Total frequent flyer liability $ 495,292 $ 484,580 The table below presents the Company's activity of the current and noncurrent frequent flyer deferred revenue: 2023 2022 (in thousands) Total frequent flyer liability - beginning balance $ 484,580 $ 466,171 Miles awarded 54,502 47,503 Travel miles redeemed (Passenger Revenue) (42,564) (31,848) Non-travel miles redeemed (Other Revenue) (1,226) (1,363) Total frequent flyer liability - ending balance $ 495,292 $ 480,463

Short-Term Investments

Short-Term Investments	3 Months Ended
	Mar. 31, 2023
Short-Term Investments [Abstract]
Short-Term Investments	Short-Term Investments The Company's short-term investments 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 as well as unrealized gains and losses related to changes in the fair value of equity securities are reflected in Gains (losses) on investments, net within nonoperating income (expense) on the unaudited Consolidated Statements of Operations . The following is a summary of the amortized cost, gross unrealized gains and losses, and fair value of the Company's short-term investments as of March 31, 2023 and December 31, 2022: March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities Corporate debt securities $ 319,061 $ 199 $ (19,109) $ 300,151 U.S. government and agency securities 453,158 516 (8,656) 445,018 Other fixed income securities 102,244 20 (7,308) 94,956 Asset-backed securities 29,360 10 (1,822) 27,548 Collateralized loan obligations 43,808 — (4,436) 39,372 Bank notes 10,127 20 (184) 9,963 Total debt securities 957,758 765 (41,515) 917,008 Derivatives 284 1,126 (223) 1,187 Equity securities 216,098 — (24,851) 191,247 Other investments measured at net asset value 1,699 — (59) 1,640 Total short-term investments $ 1,175,839 $ 1,891 $ (66,648) $ 1,111,082 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Debt securities Corporate debt securities $ 340,493 $ 139 $ (23,009) $ 317,623 U.S. government and agency securities 467,049 181 (12,341) 454,889 Other fixed income securities 110,881 23 (6,499) 104,405 Asset-backed securities 30,205 — (2,039) 28,166 Collateralized loan obligations 43,736 130 (3,684) 40,182 Bank notes 11,493 3 (192) 11,304 Total debt securities 1,003,857 476 (47,764) 956,569 Derivatives 43 1,433 (178) 1,298 Equity securities 213,569 — (26,109) 187,460 Other investments measured at net asset value 2,087 — (221) 1,866 Total short-term investments $ 1,219,556 $ 1,909 $ (74,272) $ 1,147,193 The following tables present fair values and gross unrealized losses by security type and length of time that individual securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2023 (in thousands) Debt securities Corporate debt securities $ 68,596 $ (3,873) $ 216,436 $ (15,236) $ 285,032 $ (19,109) U.S. government and agency securities 195,540 (2,955) 150,939 (5,701) 346,479 (8,656) Other fixed income securities 6,382 (169) 34,036 (7,139) 40,418 (7,308) Asset-backed securities 6,916 (62) 18,136 (1,760) 25,052 (1,822) Collateralized loan obligations 3,165 (420) 33,779 (4,016) 36,944 (4,436) Bank notes 2,750 (174) 111 (10) 2,861 (184) Total debt securities $ 283,349 $ (7,653) $ 453,437 $ (33,862) $ 736,786 $ (41,515) Other investments measured at net asset value — — 639 (59) 639 (59) $ 283,349 $ (7,653) $ 454,076 $ (33,921) $ 737,425 $ (41,574) Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2022 (in thousands) Debt securities Corporate debt securities $ 145,299 $ (10,104) $ 159,216 $ (12,905) $ 304,515 $ (23,009) U.S. government and agency securities 314,790 (8,097) 98,653 (4,244) 413,443 (12,341) Other fixed income securities 17,836 (1,191) 23,316 (5,308) 41,152 (6,499) Asset-backed securities 11,155 (755) 14,435 (1,284) 25,590 (2,039) Collateralized loan obligations 28,133 (2,372) 9,491 (1,312) 37,624 (3,684) Bank notes 2,836 (192) — — 2,836 (192) Total debt securities $ 520,049 $ (22,711) $ 305,111 $ (25,053) $ 825,160 $ (47,764) Other investments measured at net asset value 865 (221) — — 865 (221) $ 520,914 $ (22,932) $ 305,111 $ (25,053) $ 826,025 $ (47,985) As of March 31, 2023 and December 31, 2022, the Company's unrealized losses from debt securities were generated from 487 positions out of 554 positions and 496 positions out of 547 positions, respectively. The Company reviews debt securities quarterly for credit losses and impairment. If the cost of an investment exceeds its fair value, the Company will evaluate, among other factors, general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. This determination requires significant judgment. In making this judgment, the Company employs a systematic methodology that considers available quantitative and qualitative evidence in evaluating potential impairment of its investments. In addition, the Company considers specific adverse conditions related to the financial health of, and business outlook for, the investee. If the Company has plans to sell the security or it is more likely than not that the Company will be required to sell the security before recovery, then a decline in fair value below cost is recorded as an impairment charge in Other, net, within non-operating expense on the unaudited consolidated statements of operations, and a new cost basis in the investment is established. If market, industry, and/or investee conditions deteriorate, the Company may incur future impairments. Debt securities in a continuous unrealized loss position for twelve months or greater as of March 31, 2023 and December 31, 2022 were primarily attributable to changes in interest rates, relative to when the investment securities were purchased. The Company does not intend to sell any of these investments and it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis, which may be at maturity. Accordingly, the Company has determined that the unrealized losses on its debt securities as of March 31, 2023 were temporary in nature. The Company has evaluated these debt securities and did not recognize any significant credit losses as of March 31, 2023 and December 31, 2022. For the three months ended March 31, 2023 and 2022, the unrealized gains on equity securities were $0.9 million and unrealized losses on equity securities were $11.5 million, respectively. Contractual maturities of debt securities as of March 31, 2023 are shown below: Under 1 Year 1 to 5 Years Over 5 Years Total (in thousands) Debt Securities Corporate debt $ 243 $ 220,067 $ 79,841 $ 300,151 U.S. government and agency debt 65,001 370,469 9,548 445,018 Other fixed income securities 51,442 30,506 13,008 94,956 Asset-backed securities 720 17,343 9,485 27,548 Collateralized loan obligations — — 39,372 39,372 Bank notes 157 5,777 4,029 9,963 Total debt securities $ 117,563 $ 644,162 $ 155,283 $ 917,008

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement (ASC 820), defines 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 March 31, 2023 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 39,302 $ 34,283 $ 5,019 $ — Restricted cash 17,648 17,648 — — Short-term investments Debt securities Corporate debt securities 300,151 — 291,934 8,217 U.S. government and agency securities 445,018 — 445,018 — Other fixed income securities 94,956 — 94,956 — Asset-backed securities 27,548 — 18,685 8,863 Collateralized loan obligations 39,372 — 36,944 2,428 Bank notes 9,963 — 1,905 8,058 Total debt securities 917,008 — 889,442 27,566 Derivatives 1,187 — 1,187 — Equity securities 191,247 190,490 757 — Other investments measured at net asset value 1,640 — — — Total short-term investments 1,111,082 190,490 891,386 27,566 Other Assets Fuel derivative contracts 3,550 — 3,550 — Assets held-for-sale 5,024 — — 5,024 Total assets measured at fair value $ 1,176,606 $ 242,421 $ 899,955 $ 32,590 Fair Value Measurements as of December 31, 2022 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 46,729 $ 46,535 $ 194 $ — Restricted cash 17,498 17,498 — — Short-term investments Debt securities Corporate debt securities 317,623 — 309,450 8,173 U.S. government and agency securities 454,889 — 454,889 — Other fixed income securities 104,405 — 104,405 — Asset-backed securities 28,166 — 19,133 9,033 Collateralized loan obligations 40,182 — 37,624 2,558 Bank notes 11,304 — 1,878 9,426 Total debt securities 956,569 — 927,379 29,190 Derivatives 1,298 — 1,298 — Equity securities 187,460 186,670 790 — Other investments measured at net asset value 1,866 — — — Total short-term investments 1,147,193 186,670 929,467 29,190 Other Assets Assets held-for-sale 14,019 — — 14,019 Crude oil call options 5,308 — 5,308 — Total assets measured at fair value $ 1,230,747 $ 250,703 $ 934,969 $ 43,209 Cash equivalents and restricted cash. The Company's Level 1 cash equivalents consist of money market securities and mutual funds, which are valued based on quoted prices in an active market. The carrying amounts approximate fair value because of the short-term maturity of these assets. Level 2 cash equivalents consist primarily of debt securities with original maturity dates less than 90 days. The fair value of these instruments is based on a market approach using prices generated by market transactions involving similar assets. Restricted cash includes funds held in a controlled account to be used for debt service payments associated with the Company's loyalty and intellectual brand offering. As of March 31, 2023, approximately $17.6 million was held in the controlled account designated for debt servicing and was classified as restricted cash on the Company's Consolidated Balance Sheets. Short-term investments. The Company's Level 1 short-term investments consist of equity mutual funds, which are valued based on a market approach using prices generated by market transactions involving identical assets. Level 2 short-term investments consist of corporate debt securities, U.S. government and agency securities, other fixed income securities, asset-backed securities, collateralized loan obligations, bank notes, and derivative instruments as further discussed in Note 7, which are valued based on a market approach using industry standard valuation techniques that incorporate inputs such as quoted prices for similar assets, interest rates, benchmark curves, credit ratings, and other observable inputs or market data. Certain asset-backed securities, collateralized loan obligations, and private bank notes that are not readily marketable are classified as Level 3 in the fair value hierarchy and valued using certain unobservable inputs including future cash flows and discount rates. The reconciliation of the Company's short-term investments measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three months ended March 31, 2023 is as follows: Short-term Investment Activity for the three months ended March 31, 2023 Asset-Backed Securities Bank Notes Collateralized Loan Obligations Corporate Debt Securities Total (in thousands) Beginning balance as of December 31, 2022 $ 9,033 $ 9,426 $ 2,558 $ 8,173 $ 29,190 Purchases — 944 — — 944 Proceeds from sale — (2,189) — — (2,189) Redemptions and paydowns (41) (185) — (12) (238) Amortization and accretion, net 16 1 — (24) (7) Realized and unrealized gains (losses), net (145) 61 (130) 80 (134) Ending balance as of March 31, 2023 $ 8,863 $ 8,058 $ 2,428 $ 8,217 $ 27,566 Other investments at net asset value (NAV) . In accordance with relevant accounting standards, certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. The investments measured using NAV are investments in a partnership for which a secondary market does not exist. Investments in the partnership are carried at estimated net asset value as determined by and reported by the general partners of the partnerships and represent the proportionate share of the estimated fair value of the underlying assets of the limited partnerships. The Company can redeem its shares upon approval by the respective partnerships' managing member. Fuel derivative contracts. 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. 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. Any changes in fair value of these derivative instruments are adjusted through other nonoperating income (expense) in the period of change. The Company’s fuel derivative contracts consist of crude oil call options, which are not traded on a public exchange. The fair value of these instruments is determined based on inputs available or derived from public markets including contractual terms, market prices, yield curves, and measures of volatility among others. Assets held for sale. The Company's assets held for sale consist of aircraft, engine, rotable and expendable aircraft parts, and commercial real estate. The assets are measured at the lower of the carrying amount or fair value less cost to sell and a loss is recognized for any initial adjustment of the assets' carrying amount to fair value less cost to sell. The fair value measurements for the Company's held-for-sale assets were based on Level 3 inputs, which include information obtained from third-party valuation sources and other market sources, including recent offers from potential buyers. Refer to Note 11 to the Notes to Consolidated Financial Statements for additional discussion. The table below presents the Company’s debt measured at fair value: Fair Value of Debt March 31, 2023 December 31, 2022 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) $ 1,612,558 $ 1,406,911 $ — $ — $ 1,406,911 $ 1,631,725 $ 1,356,561 $ — $ — $ 1,356,561 The fair value estimates of the Company’s debt were based on the discounted amount of future cash flows using the Company’s current incremental rate of borrowing based on quotes of similar debt for other similarly rated companies. 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	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivative Instruments	Financial Derivative InstrumentsThe Company uses derivatives to manage risks associated with certain assets and liabilities arising from the potential adverse impact of fluctuations in global fuel prices. 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. The Company uses a combination of derivative contracts to hedge its aircraft fuel expense. The following table reflects the amount of realized and unrealized gains and losses recorded as Nonoperating income (expense) in the Consolidated Statements of Operations. Three months ended March 31, 2023 2022 (in thousands) Losses realized at settlement $ (1,513) $ — Reversal of prior period unrealized amounts 2,639 — Unrealized losses that will settle in future periods (6,191) — Losses on fuel derivatives recorded as Nonoperating Expense $ (5,065) $ — Investment Portfolio Management The Company's investment managers use a combination of derivative instruments (swaps, futures, options and forward contracts) to manage risk associated with its investment portfolio, including the volatility in interest rates and currency exchange rates on foreign denominated debt securities. As of March 31, 2023 and December 31, 2022, the Company's derivative positions reflected a net asset position of $1.2 million and $1.3 million within the portfolio. During the three months ended March 31, 2023 and 2022, the Company recognized a net realized and unrealized loss of $0.1 million and a net realized and unrealized gain of $1.4 million, respectively, through Nonoperating income (expense). The following table presents 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 Consolidated Balance Sheets. Derivative positions as of March 31, 2023 Balance Sheet Notional Amount Final Gross Fair Gross Fair Net Derivative Position (in thousands) (in thousands) Derivatives not designated as hedges Fuel derivative contracts Prepaid expenses and other 78,582 gallons March 2024 $ 3,550 $ — $ 3,550 Foreign currency derivatives Short-term investments 36,885 European Dollars March 2025 $ 780 $ (12) $ 768 Interest rate contracts Short-term investments 17,417 US Dollars March 2026 $ 592 $ (173) $ 419 Derivative positions as of December 31, 2022 Balance Sheet Notional Amount Final Gross Fair Gross Fair Net Derivative Position (in thousands) (in thousands) Derivatives not designated as hedges Fuel derivative contracts Prepaid expenses and other 57,288 gallons December 2023 $ 5,308 $ — $ 5,308 Foreign currency derivatives Short-term investments 36,426 European Dollars March 2025 $ 1,254 $ (46) $ 1,208 Interest rate contracts Short-term investments 32,891 US Dollars March 2026 $ 190 $ (100) $ 90 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) periodically 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 to or by the counterparties based on the current market exposure of the derivative. The Company's agreements with its counterparties also require the posting of cash collateral in the event the aggregate value of the Company's positions exceeds certain exposure thresholds. The aggregate fair value of the Company's derivative instruments that contain credit-risk related contingent features was in a net asset position of $4.7 million and $6.6 million as of March 31, 2023 and December 31, 2022, respectively. 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 $0.3 million collateral posted with its counterparties as of March 31, 2023. No collateral was posted with its counterparties as of December 31, 2022. 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	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Long-term debt, net of unamortized discounts and issuance costs, is outlined as follows: March 31, 2023 December 31, 2022 (in thousands) Class A EETC-13, fixed interest rate of 3.9%, semiannual principal and interest payments, remaining balance due at maturity in January 2026 $ 173,336 $ 184,572 Japanese Yen denominated financing, fixed interest rate of 1.05%, quarterly principal and interest payments, remaining balance due at maturity in May 2030 22,445 23,524 Japanese Yen denominated financing, fixed interest rate of 1.01%, semiannual principal and interest payments, remaining balance due at maturity in June 2030 20,060 20,350 Japanese Yen denominated financing, fixed interest rate of 0.65%, quarterly principal and interest payments, remaining balance due at maturity in March 2025 59,486 64,276 Japanese Yen denominated financing, fixed interest rate of 0.76%, semiannual principal and interest payments, remaining balance due at maturity in September 2031 51,981 55,731 CARES Act Payroll Support Program, fixed interest rate of 1.0% for the first through fifth years and variable interest of SOFR plus a margin of 2.0% for the sixth year through maturity, semiannual interest payments, principal balance due at maturity in April 2030 through September 2030 60,278 60,278 Payroll Support Program Extension, fixed interest rate of 1.0% for the first through fifth years and variable interest of SOFR plus a margin of 2.0% for the sixth year through maturity, semiannual interest payments, principal balance due at maturity in March 2031 through April 2031 27,797 27,797 Payroll Support Program 3, fixed interest rate of 1.0% for the first through fifth years and variable interest of SOFR plus a margin of 2.0% for the sixth year through maturity, semiannual interest payments, principal balance due at maturity in April 2031 through June 2031 23,908 23,908 Loyalty Program Financing, fixed interest of 5.75%, quarterly interest payments, principal balance due at maturity in January 2026 1,200,000 1,200,000 Unamortized debt discount and issuance costs (26,733) (28,711) Total Debt $ 1,612,558 $ 1,631,725 Less: Current maturities of long-term debt (46,176) (47,836) Long-Term Debt, less discount $ 1,566,382 $ 1,583,889 Revolving Credit Facility In August 2022, the Company entered into an Amended and Restated Credit and Guarantee Agreement (the Revolving Credit Facility). The Revolving Credit Facility has an aggregate principal amount not to exceed $235.0 million and matures in December 2025. The Company may, from time to time, grant liens on certain eligible account receivables, aircraft, spare engines, ground support equipment and route authorities, as well as cash and certain cash equivalents, in order to secure its outstanding obligations under the Revolving Credit Facility. Indebtedness under the Revolving Credit Facility will bear interest, at a per annum rate based on, at the Company's option: (1) a variable rate equal to the Secured overnight financing rate plus a margin of 3.0%; or (2) Alternate base rate (as defined in the Revolving Credit Facility) plus a margin of 2.0%. The Company is also subject to compliance and liquidity covenants under the Revolving Credit Facility. As of March 31, 2023, the Company had no outstanding borrowing under the Revolving Credit Facility. The amendment was accounted for as a modification of the prior Revolving Credit Facility. Schedule of Debt Maturities As of March 31, 2023, the expected maturities of debt, excluding debt issuance costs, for the remainder of 2023 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2023 $ 29,918 2024 46,583 2025 60,061 2026 1,339,347 2027 11,893 Thereafter 151,489 $ 1,639,291 Covenants The Company's debt agreements contain various affirmative, negative and financial covenants. The Company was in compliance with the covenants in these debt agreements as of March 31, 2023.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The components of net periodic benefit cost for the Company’s defined benefit and other post-retirement plans included the following: Three months ended March 31, Components of Net Period Benefit Cost 2023 2022 (in thousands) Service cost $ 1,629 $ 2,392 Other cost: Interest cost 6,430 4,561 Expected return on plan assets (5,531) (6,471) Recognized net actuarial loss 595 624 Total other components of the net periodic benefit cost 1,494 (1,286) Net periodic benefit cost $ 3,123 $ 1,106 Service costs are recorded within Wages and benefits on the unaudited Consolidated Statements of Operations. Total other components of the net periodic benefit cost are recorded within the nonoperating income (expense), other, net line item on the unaudited Consolidated Statements of Operations. During the three months ended March 31, 2023 and 2022, the Company was not required to, and did not make cash contributions to its defined benefit and other post-retirement plans. The Company is not required to make a cash contribution to its defined benefit plan for the remainder of 2023.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Commitments As of March 31, 2023, the Company had the following aircraft-related commitments consisting of firm aircraft and engine orders and purchase rights for additional aircraft and engines: Aircraft Type Firm Orders Purchase Rights Expected Delivery Dates A321neo aircraft — 9 N/A B787-9 aircraft 12 8 Between 2023 and 2027 General Electric GEnx spare engines: B787-9 spare engines 3 1 Between 2023 and 2027 In July 2018, the Company entered into a purchase agreement for the purchase of 10 Boeing 787-9 "Dreamliner" aircraft, including purchase rights for an additional 10 aircraft with scheduled delivery from 2021 to 2025. In October 2018, the Company entered into a definitive agreement for the selection of GEnx engines to power its Boeing 787-9 fleet. The agreement provides for the purchase of 20 GEnx engines, the right to purchase an additional 20 GEnx engines, and the purchase of up to four spare engines. In December 2022, the Company entered into a supplemental agreement to its B787-9 purchase agreement, pursuant to which (a) the Company agreed with Boeing to defer the delivery of the B787-9 aircraft, which will now be delivered between the fourth quarter of 2023 and 2027, and (b) agreed to exercise purchase options for an additional two B787-9 aircraft. The committed expenditures under the amended purchase agreement are reflected in the table below. In order to complete the purchase of these aircraft and fund related costs, the Company may need to secure acceptable financing. Financing may be necessary to satisfy the Company's capital commitments for firm order aircraft and other related capital expenditures. The Company can provide no assurance that any financing not already in place for aircraft and spare engine deliveries will be available to us on acceptable terms when necessary or at all. The Company has commitments with third-parties to provide aircraft maintenance services which include fixed payments based on flight hours for the Company's fleet. The Company also has commitments with third-party service providers for reservations, information technology, and accounting services through 2033. Committed capital and other expenditures include escalation and variable amounts based on estimated forecasts. The gross committed expenditures and committed payments as of March 31, 2023 and for the next five fiscal years and thereafter are detailed below: Aircraft and Aircraft Related Other Total Committed (in thousands) Remaining in 2023 $ 199,879 $ 17,533 $ 217,412 2024 472,933 22,556 495,489 2025 477,598 12,657 490,255 2026 374,744 8,159 382,903 2027 215,208 6,036 221,244 Thereafter — 60,564 60,564 $ 1,740,362 $ 127,505 $ 1,867,867 Litigation and Contingencies The Company is subject to legal proceedings arising in the normal course of its operations. The Company 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 such contracts. 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 such parties' gross negligence or willful misconduct. Additionally, the lessee typically indemnifies such parties for any environmental liability that arises out of or relates to the lessee's use of the real estate leased premises. The Company believes that it is insured (subject to deductibles) for most of the tort liabilities and related indemnities described above with respect to the aircraft and real estate that it leases. The Company cannot reasonably estimate the potential amount of future payments, if any, under the foregoing indemnities and agreements. Credit Card Holdbacks Under the Company’s bank-issued credit card processing agreements, 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. As of March 31, 2023 and December 31, 2022, there were no holdbacks held with the Company's credit card processors. In the event of a material adverse change in the Company's business, the credit card processor could increase holdbacks to up to 100% of the amount of outstanding credit card tickets that are unflown (e.g., air traffic liability, excluding frequent flyer deferred revenue), which would result in a restriction of cash. If the Company were unable to obtain a waiver of, or otherwise mitigate the increase in the restriction of cash, it could have a material impact on the Company's operations, business or financial condition.

Assets Held-For-Sale

Assets Held-For-Sale	3 Months Ended
	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Assets Held-For-Sale	Assets Held-For-Sale In the second quarter of 2021, the Company reclassified approximately $29.5 million in long-lived assets as held for sale as follows: • The Company announced the termination of its 'Ohana by Hawaiian operations, which utilized its ATR-42 and ATR-72 fleet, and was operated under a capacity purchase agreement (CPA) with a third-party carrier. Following the termination of the operations, management committed to a plan of sale and wrote-down the related assets by approximately$6.4 million to fair value, less cost to sell, and classified approximately $23.4 million as assets held for sale on the Consolidated Balance Sheets. • The Company committed to a plan to sell certain commercial real-estate assets held by one of the Company's subsidiaries. Management fair valued the assets, less the cost to sell, which did not result in a write-down to the asset group, and reclassified approximately $6.1 million as assets held for sale on the Consolidated Balance Sheets. During the second quarter of 2022, the Company sold three ATR-72 aircraft and recognized a $2.6 million gain on the transactions, which was recorded in Other operating expense $6.3 million impairment charge, which was recorded as a Special item in the unaudited consolidated statements of operations. In February 2023, the Company entered into a sale agreement for the sale of its commercial real estate and recognized a gain on sale of $10.2 million, which was recorded in Other operating expense in the consolidated statements of operations. A roll-forward of the Assets held-for-sale activity for the three months ended March 31, 2023 and 2022 is as follows: Assets Held-For-Sale Activity 2023 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31 $ 7,728 $ 6,291 $ 14,019 Additions — — — Proceeds from sale (2,769) (16,470) (19,239) Realized gains 65 10,179 10,244 Realized losses — — — Ending balance as of March 31 $ 5,024 $ — $ 5,024 Assets Held-For-Sale Activity 2022 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31 $ 23,158 $ 6,291 $ 29,449 Additions 164 — 164 Proceeds from sale (1,075) — (1,075) Realized gains 356 — 356 Realized losses (451) — (451) Ending balance as of March 31 $ 22,152 $ 6,291 $ 28,443 The Company expects to complete the sale of the remaining assets referenced above within the upcoming 12 months and will continue to monitor the asset groups for potential impairment.

Amazon Agreement

Amazon Agreement	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Amazon Agreement	Amazon Agreement On October 20, 2022, Hawaiian and Amazon.com Services LLC (Customer), a wholly owned subsidiary of Amazon.com, Inc. (Amazon), entered into an Air Transportation Services Agreement (the ATSA) under which the Company will provide certain air cargo transportation services to Customer for an initial term of eight years. Thereafter, the Customer may elect to extend the ATSA for two years and, at the end of such period, the parties may mutually agree to extend the term for three additional years The ATSA provides for the Company to initially operate ten A330-300F aircraft for air cargo transportation services, with the Customer having the right to enter into work orders for additional aircraft. The Company will supply flight crews, perform maintenance and certain administrative functions, and procure aircraft insurance. The Customer will pay the Company a fixed monthly fee per aircraft, a per flight hour fee, and a per flight cycle fee for each flight cycle operated. The Customer will also reimburse the Company for certain operating expenses, including fuel, certain maintenance, and insurance premiums. As part of the ATSA, the Company received $11.5 million toward start-up costs which has been recorded in Other liabilities in the Consolidated Balance Sheet. The deferred up-front payment will be amortized into revenue on a pro-rata basis over the term of the contract. Operations under the ATSA are expected to commence in the fourth quarter of 2023. During the three months ended March 31, 2023, $0 was amortized into revenue on the Company's Consolidated Statements of Operations. The Company and Amazon also entered into a Transaction Agreement, under which the Company agreed to issue to Amazon.com NV Investment Holdings LLC, a wholly owned subsidiary of Amazon, a warrant (the Warrant) to acquire up to 9,442,443 shares (the Warrant Shares), of the Company's common stock, par value $0.01 per share. The exercise price with respect to the first 6,294,962 Warrant Shares that vest will be $14.71 per share (the First Tranche). The exercise price with respect to the remaining 3,147,481 Warrant Shares (the Second Tranche) will be determined based on the 30-day volume-weighted average price of the Company’s common stock as of the earlier of (i) October 20, 2025, or (ii) the date that the entire First Tranche is vested. At execution of the ATSA, 1,258,992 Warrant Shares, valued at $11.6 million, vested, and were recorded in Other assets in the Consolidated Balance Sheet. The remaining Warrant Shares will vest based on qualifying payments to be made by Amazon or its affiliates either under the ATSA or generally to the Company with respect to air cargo or air charter services (the Performance Condition), excluding commercial passenger service, up to $1.8 billion of qualifying payments in the aggregate. The Warrant was valued in two tranches, both utilizing a Monte Carlo Simulation Model. The First Tranche, which met the grant date criteria under ASC 718 at execution of the ATSA, has a set exercise price and a grant date fair value of approximately $57.9 million, or $9.19 per Warrant Share. The Warrant is classified as an equity award, subject only to the Performance Condition referenced above which impacts the timing of the vesting of the Warrant Shares. For the Second Tranche, which will not have an established exercise price until a future date, as noted above, was valued at approximately $16.0 million, or $5.09 per Warrant Share as of March 31, 2023. As a grant date has not yet been established, the Company will estimate the fair value of these Warrant Shares on a quarterly basis; however, the Company also considered that until the Warrant Shares vest, there is no financial statement impact related to the Second Tranche for unvested shares under ASC 718. At their grant date, the Company will value these Warrant Shares, which will be classified as equity awards, subject to the Performance Condition. As discussed above, 1,258,992 Warrant Shares (included in the First Tranche), with a value of $11.6 million, vested at execution of the ATSA, and were recorded as Other assets on the Consolidated Balance Sheet. The $11.6 million will be recognized as contra-revenue pro rata with estimated revenue earned over the term of the ATSA. For the remaining Warrant Shares, the value of the Warrant Shares, at grant date, will be recognized as a reduction of the transaction price of the Company’s flight services performance obligation over the term of the ATSA as revenue is earned with an offsetting entry to Capital in excess of par.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information The following condensed consolidating financial information is presented in accordance with Rule 3-10 of Regulation S-X because, in connection with the issuance by 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. The Company's condensed consolidating financial statements are presented in the following tables: Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended March 31, 2023 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 611,800 $ 14,275 $ (13,472) $ 612,603 Operating Expenses: Wages and benefits — 241,933 — — 241,933 Aircraft fuel, including taxes and delivery — 197,625 — — 197,625 Maintenance, materials and repairs — 50,318 (31) — 50,287 Aircraft and passenger servicing — 42,532 — — 42,532 Commissions and other selling 8 28,153 222 (145) 28,238 Aircraft rent — 28,171 — — 28,171 Other rentals and landing fees — 38,739 — (19) 38,720 Depreciation and amortization — 32,667 — — 32,667 Purchased services 119 34,451 568 (66) 35,072 Other 1,829 55,564 (9,368) (13,240) 34,785 Total 1,956 750,153 (8,609) (13,470) 730,030 Operating Income (Loss) (1,956) (138,353) 22,884 (2) (117,427) Nonoperating Income (Expense): Undistributed net loss of subsidiaries (96,696) (4,830) — 101,526 — Interest expense and amortization of debt discounts and issuance costs — (5,147) (18,473) 740 (22,880) Interest income 398 15,542 1,265 (740) 16,465 Capitalized interest — 1,458 — — 1,458 Losses on fuel derivatives — (5,065) — — (5,065) Other components of net periodic pension cost — (1,494) — — (1,494) Gains on investments, net — 697 — — 697 Gains on foreign debt — 2,260 — — 2,260 Other, net — 155 — — 155 Total (96,298) 3,576 (17,208) 101,526 (8,404) Income (Loss) Before Income Taxes (98,254) (134,777) 5,676 101,524 (125,831) Income tax benefit — (27,574) — — (27,574) Net Income (Loss) $ (98,254) $ (107,203) $ 5,676 $ 101,524 $ (98,257) Comprehensive Income (Loss) $ (100,309) $ (109,255) $ 5,676 $ 103,579 $ (100,309) Condensed Consolidating Statements of Operations and Comprehensive Loss Three months ended March 31, 2022 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 476,591 $ 9,727 $ (9,104) $ 477,214 Operating Expenses: Wages and benefits — 203,099 — — 203,099 Aircraft fuel, including taxes and delivery — 150,982 — — 150,982 Maintenance, materials and repairs — 55,490 160 — 55,650 Aircraft and passenger servicing — 33,815 — — 33,815 Commissions and other selling — 20,624 230 (207) 20,647 Aircraft rent — 26,276 — — 26,276 Depreciation and amortization — 33,755 — — 33,755 Other rentals and landing fees — 34,640 — (29) 34,611 Purchased services 43 30,291 419 (66) 30,687 Other 2,218 41,839 242 (8,802) 35,497 Total 2,261 630,811 1,051 (9,104) 625,019 Operating Income (Loss) (2,261) (154,220) 8,676 — (147,805) Nonoperating Income (Expense): Undistributed net loss of subsidiaries (131,023) (9,420) — 140,443 — Interest expense and amortization of debt discounts and issuance costs — (7,324) (18,453) 740 (25,037) Interest income 7 4,425 742 (740) 4,434 Capitalized interest — 1,052 — — 1,052 Other components of net periodic pension cost — 1,286 — — 1,286 Losses on investments, net — (12,364) — — (12,364) Gains on foreign debt — 11,762 — — 11,762 Other, net — 374 — — 374 Total (131,016) (10,209) (17,711) 140,443 (18,493) Loss Before Income Taxes (133,277) (164,429) (9,035) 140,443 (166,298) Income tax benefit — (33,020) — — (33,020) Net Loss $ (133,277) $ (131,409) $ (9,035) $ 140,443 $ (133,278) Comprehensive Loss $ (149,288) $ (147,419) $ (9,035) $ 156,454 $ (149,288) Condensed Consolidating Balance Sheets March 31, 2023 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current Assets: Cash and cash equivalents $ 27,571 $ 213,220 $ 31,064 $ — $ 271,855 Restricted cash — — 17,648 — 17,648 Short-term investments — 1,111,082 — — 1,111,082 Accounts receivable, net 1,269 86,400 32,413 (20,202) 99,880 Income taxes receivable — 3,382 — — 3,382 Spare parts and supplies, net — 38,905 — — 38,905 Prepaid expenses and other — 83,021 — — 83,021 Total 28,840 1,536,010 81,125 (20,202) 1,625,773 Property and equipment at cost — 3,105,592 — — 3,105,592 Less accumulated depreciation and amortization — (1,167,795) — — (1,167,795) Property and equipment, net — 1,937,797 — — 1,937,797 Assets held-for-sale — 288 4,736 — 5,024 Operating lease right-of-use assets — 439,228 — — 439,228 Long-term prepayments and other — 105,883 1,200,253 (1,200,000) 106,136 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable (421,091) (45,222) — 466,313 — Investment in consolidated subsidiaries 807,451 (17,307) 503 (790,647) — Total Assets $ 415,200 $ 3,956,677 $ 1,300,117 $ (1,544,536) $ 4,127,458 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities: Accounts payable $ 1,282 $ 214,779 $ 553 $ (13,750) $ 202,864 Air traffic liability and current frequent flyer deferred revenue — 736,874 9,593 — 746,467 Other accrued liabilities — 178,454 14,909 (6,452) 186,911 Current maturities of long-term debt, less discount — 46,176 — — 46,176 Current maturities of finance lease obligations — 24,819 — — 24,819 Current maturities of operating leases — 78,620 — — 78,620 Total 1,282 1,279,722 25,055 (20,202) 1,285,857 Long-Term Debt — 1,580,601 1,185,781 (1,200,000) 1,566,382 Intercompany payable 180,598 (585,836) 121,385 283,853 — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 69,895 — — 69,895 Noncurrent operating leases — 328,370 — — 328,370 Accumulated pension and other post-retirement benefit obligations — 141,508 — — 141,508 Other liabilities and deferred credits — 74,588 — — 74,588 Noncurrent frequent flyer deferred revenue — 325,407 — — 325,407 Deferred tax liabilities, net — 102,131 — — 102,131 Total — 1,041,899 — — 1,041,899 Shareholders’ equity 233,320 640,291 (32,104) (608,187) 233,320 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 415,200 $ 3,956,677 $ 1,300,117 $ (1,544,536) $ 4,127,458 Condensed Consolidating Balance Sheets December 31, 2022 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 28,620 $ 151,357 $ 49,145 $ — $ 229,122 Restricted cash — — 17,498 — 17,498 Short-term investments — 1,147,193 — — 1,147,193 Accounts receivable, net — 106,321 25,785 (18,244) 113,862 Income taxes receivable, net — 70,204 — — 70,204 Spare parts and supplies, net — 36,875 — — 36,875 Prepaid expenses and other — 63,524 29 — 63,553 Total 28,620 1,575,474 92,457 (18,244) 1,678,307 Property and equipment at cost — 3,009,614 — — 3,009,614 Less accumulated depreciation and amortization — (1,135,262) — — (1,135,262) Property and equipment, net — 1,874,352 — — 1,874,352 Assets held-for-sale — 293 13,726 — 14,019 Operating lease right-of-use assets — 459,128 — — 459,128 Long-term prepayments and other — 99,801 1,200,516 (1,200,000) 100,317 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable — 609,207 — (609,207) — Investment in consolidated subsidiaries 767,831 (57,699) 502 (710,634) — Total Assets $ 796,451 $ 4,560,556 $ 1,320,701 $ (2,538,085) $ 4,139,623 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 630 $ 207,294 $ 617 $ (12,532) $ 196,009 Air traffic liability and current frequent flyer deferred revenue — 579,872 10,924 — 590,796 Other accrued liabilities — 172,190 15,558 (5,712) 182,036 Current maturities of long-term debt, less discount — 47,836 — — 47,836 Current maturities of finance lease obligations — 25,789 — — 25,789 Current maturities of operating leases — 77,858 — — 77,858 Total 630 1,110,839 27,099 (18,244) 1,120,324 Long-Term Debt — 1,599,330 1,184,559 (1,200,000) 1,583,889 Intercompany payable 462,556 — 146,651 (609,207) — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 75,221 — — 75,221 Noncurrent operating leases — 347,726 — — 347,726 Accumulated pension and other post-retirement benefit obligations — 135,775 — — 135,775 Other liabilities and deferred credits — 94,481 173 — 94,654 Noncurrent frequent flyer deferred revenue — 318,369 — — 318,369 Deferred tax liabilities, net — 130,400 — — 130,400 Total — 1,101,972 173 — 1,102,145 Shareholders’ equity 333,265 748,415 (37,781) (710,634) 333,265 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 796,451 $ 4,560,556 $ 1,320,701 $ (2,538,085) $ 4,139,623 Condensed Consolidating Statements of Cash Flows Three months ended March 31, 2023 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (613) $ 122,379 $ (3,475) $ — $ 118,291 Cash Flows From Investing Activities: Net payments to affiliates — 24,435 (17,206) (7,229) — Additions to property and equipment, including pre-delivery deposits — (106,215) — — (106,215) Proceeds from the disposition of aircraft and aircraft related equipment 6,793 20 2,750 — 9,563 Purchases of investments — (96,806) — — (96,806) Sales of investments — 144,069 — — 144,069 Net cash provided by (used in) investing activities 6,793 (34,497) (14,456) (7,229) (49,389) Cash Flows From Financing Activities: Repayments of long-term debt and finance lease obligations — (24,953) — — (24,953) Net payments from affiliates (7,229) — — 7,229 — Payment for taxes withheld for stock compensation — (1,066) — — (1,066) Net cash used in financing activities (7,229) (26,019) — 7,229 (26,019) Net increase (decrease) in cash and cash equivalents (1,049) 61,863 (17,931) — 42,883 Cash, cash equivalents, & restricted cash - Beginning of Period 28,620 151,357 66,643 — 246,620 Cash, cash equivalents, & restricted cash - End of Period $ 27,571 $ 213,220 $ 48,712 $ — $ 289,503 Condensed Consolidating Statements of Cash Flows Three months ended March 31, 2022 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (1,442) $ 28,203 $ (4,607) $ — $ 22,154 Cash Flows From Investing Activities: Net payments to affiliates — (886) 1,237 (351) — Additions to property and equipment, including pre-delivery deposits — (9,066) — — (9,066) Proceeds from the disposition of aircraft and aircraft related equipment — 63 1,061 — 1,124 Purchases of investments — (263,161) — — (263,161) Sales of investments — 307,780 — — 307,780 Net cash provided by (used in) investing activities — 34,730 2,298 (351) 36,677 Cash Flows From Financing Activities: Repayments of long-term debt and finance lease obligations — (66,704) — — (66,704) Net payments from affiliates (351) — — 351 — Payment for taxes withheld for stock compensation — (1,490) — — (1,490) Net cash used in financing activities (351) (68,194) — 351 (68,194) Net decrease in cash and cash equivalents (1,793) (5,261) (2,309) — (9,363) Cash, cash equivalents, & restricted cash - Beginning of Period 20,803 434,615 52,410 — 507,828 Cash, cash equivalents, & restricted cash - End of Period $ 19,010 $ 429,354 $ 50,101 $ — $ 498,465

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Information Related to Amounts Reclassified From AOCI	Reclassifications out of accumulated other comprehensive income (loss) by component are as follows: Details about accumulated other comprehensive income (loss) components Three months ended March 31, Affected line items in the statement where net income is presented 2023 2022 (in thousands) Amortization of defined benefit plan items Actuarial loss $ 450 $ 532 Nonoperating Income (Expense), Other, net Prior service cost 145 92 Nonoperating Income (Expense), Other, net Total before tax 595 624 Tax benefit (147) (155) Total, net of tax $ 448 $ 469 Short-term investments Realized gain on sales of investments $ (393) $ (3,044) Gains (losses) on investments, net Realized loss on sales of investments 911 4,931 Gains (losses) on investments, net Total before tax 518 1,887 Income tax expense (benefit) 128 (414) Total, net of tax $ 646 $ 1,473 Total reclassifications for the period $ 1,094 $ 1,942
Schedule of Amounts Included in Accumulated Other Comprehensive Income (Loss), Net of Taxes	A roll-forward of the amounts included in accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2023 and 2022 is as follows: Three months ended March 31, 2023 Defined Benefit Short-Term Investments Total (in thousands) Beginning balance $ (59,439) $ (35,727) $ (95,166) Other comprehensive income (loss) before reclassifications, net of tax (7,526) 4,380 (3,146) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 448 646 1,094 Net current-period other comprehensive income (loss) (7,078) 5,026 (2,052) Ending balance $ (66,517) $ (30,701) $ (97,218) Three months ended March 31, 2022 Defined Benefit Plan Items Short-Term Investments Total (in thousands) Beginning balance $ (75,025) $ (6,813) $ (81,838) Other comprehensive income (loss) before reclassifications, net of tax 161 (18,113) (17,952) Amounts reclassified from accumulated other comprehensive income (loss), net of tax 469 1,473 1,942 Net current-period other comprehensive income (loss) 630 (16,640) (16,010) Ending balance $ (74,395) $ (23,453) $ (97,848)

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following table shows the computation of basic and diluted loss per share: Three Months Ended March 31, 2023 2022 (in thousands, except for per share data) Numerator: Net Loss $ (98,257) $ (133,278) Denominator: Weighted average common stock shares outstanding - Basic 51,507 51,288 Weighted average common stock shares outstanding - Diluted 51,507 51,288 Net Loss Per Share Basic $ (1.91) $ (2.60) Diluted $ (1.91) $ (2.60)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The Company's operating revenues by geographic region (as defined by the U.S. Department of Transportation (DOT)) are summarized below: Three Months Ended March 31, 2023 2022 Geographic Information (in thousands) Domestic $ 486,129 $ 438,416 Pacific 126,474 38,798 Total operating revenue $ 612,603 $ 477,214 Three Months Ended March 31, 2023 2022 Passenger Revenue by Type (in thousands) Passenger revenue, excluding frequent flyer $ 505,962 $ 372,181 Frequent flyer revenue, transportation component 42,564 31,848 Passenger Revenue $ 548,526 $ 404,029 Other revenue (e.g., cargo and other miscellaneous) $ 35,139 $ 45,816 Frequent flyer revenue, marketing and brand component 28,938 27,369 Other Revenue $ 64,077 $ 73,185
Schedule of Frequent Flyer Liability For Future Award Redemptions	The table below presents the Company's frequent flyer liability balance: March 31, 2023 December 31, 2022 (in thousands) Air traffic liability (current portion of frequent flyer revenue) $ 169,885 $ 166,211 Noncurrent frequent flyer deferred revenue 325,407 318,369 Total frequent flyer liability $ 495,292 $ 484,580
Schedule of Frequent Flyer Deferred Revenue	The table below presents the Company's activity of the current and noncurrent frequent flyer deferred revenue: 2023 2022 (in thousands) Total frequent flyer liability - beginning balance $ 484,580 $ 466,171 Miles awarded 54,502 47,503 Travel miles redeemed (Passenger Revenue) (42,564) (31,848) Non-travel miles redeemed (Other Revenue) (1,226) (1,363) Total frequent flyer liability - ending balance $ 495,292 $ 480,463

Short-Term Investments (Tables)

Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Short-Term Investments [Abstract]
Schedule of Short-Term Investments	The following is a summary of the amortized cost, gross unrealized gains and losses, and fair value of the Company's short-term investments as of March 31, 2023 and December 31, 2022: March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Debt securities Corporate debt securities $ 319,061 $ 199 $ (19,109) $ 300,151 U.S. government and agency securities 453,158 516 (8,656) 445,018 Other fixed income securities 102,244 20 (7,308) 94,956 Asset-backed securities 29,360 10 (1,822) 27,548 Collateralized loan obligations 43,808 — (4,436) 39,372 Bank notes 10,127 20 (184) 9,963 Total debt securities 957,758 765 (41,515) 917,008 Derivatives 284 1,126 (223) 1,187 Equity securities 216,098 — (24,851) 191,247 Other investments measured at net asset value 1,699 — (59) 1,640 Total short-term investments $ 1,175,839 $ 1,891 $ (66,648) $ 1,111,082 December 31, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Debt securities Corporate debt securities $ 340,493 $ 139 $ (23,009) $ 317,623 U.S. government and agency securities 467,049 181 (12,341) 454,889 Other fixed income securities 110,881 23 (6,499) 104,405 Asset-backed securities 30,205 — (2,039) 28,166 Collateralized loan obligations 43,736 130 (3,684) 40,182 Bank notes 11,493 3 (192) 11,304 Total debt securities 1,003,857 476 (47,764) 956,569 Derivatives 43 1,433 (178) 1,298 Equity securities 213,569 — (26,109) 187,460 Other investments measured at net asset value 2,087 — (221) 1,866 Total short-term investments $ 1,219,556 $ 1,909 $ (74,272) $ 1,147,193 The following tables present fair values and gross unrealized losses by security type and length of time that individual securities have been in a continuous unrealized loss position: Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses March 31, 2023 (in thousands) Debt securities Corporate debt securities $ 68,596 $ (3,873) $ 216,436 $ (15,236) $ 285,032 $ (19,109) U.S. government and agency securities 195,540 (2,955) 150,939 (5,701) 346,479 (8,656) Other fixed income securities 6,382 (169) 34,036 (7,139) 40,418 (7,308) Asset-backed securities 6,916 (62) 18,136 (1,760) 25,052 (1,822) Collateralized loan obligations 3,165 (420) 33,779 (4,016) 36,944 (4,436) Bank notes 2,750 (174) 111 (10) 2,861 (184) Total debt securities $ 283,349 $ (7,653) $ 453,437 $ (33,862) $ 736,786 $ (41,515) Other investments measured at net asset value — — 639 (59) 639 (59) $ 283,349 $ (7,653) $ 454,076 $ (33,921) $ 737,425 $ (41,574) Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2022 (in thousands) Debt securities Corporate debt securities $ 145,299 $ (10,104) $ 159,216 $ (12,905) $ 304,515 $ (23,009) U.S. government and agency securities 314,790 (8,097) 98,653 (4,244) 413,443 (12,341) Other fixed income securities 17,836 (1,191) 23,316 (5,308) 41,152 (6,499) Asset-backed securities 11,155 (755) 14,435 (1,284) 25,590 (2,039) Collateralized loan obligations 28,133 (2,372) 9,491 (1,312) 37,624 (3,684) Bank notes 2,836 (192) — — 2,836 (192) Total debt securities $ 520,049 $ (22,711) $ 305,111 $ (25,053) $ 825,160 $ (47,764) Other investments measured at net asset value 865 (221) — — 865 (221) $ 520,914 $ (22,932) $ 305,111 $ (25,053) $ 826,025 $ (47,985)
Schedule of Contractual Maturities of Short-Term Investments	Contractual maturities of debt securities as of March 31, 2023 are shown below: Under 1 Year 1 to 5 Years Over 5 Years Total (in thousands) Debt Securities Corporate debt $ 243 $ 220,067 $ 79,841 $ 300,151 U.S. government and agency debt 65,001 370,469 9,548 445,018 Other fixed income securities 51,442 30,506 13,008 94,956 Asset-backed securities 720 17,343 9,485 27,548 Collateralized loan obligations — — 39,372 39,372 Bank notes 157 5,777 4,029 9,963 Total debt securities $ 117,563 $ 644,162 $ 155,283 $ 917,008

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of 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 March 31, 2023 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 39,302 $ 34,283 $ 5,019 $ — Restricted cash 17,648 17,648 — — Short-term investments Debt securities Corporate debt securities 300,151 — 291,934 8,217 U.S. government and agency securities 445,018 — 445,018 — Other fixed income securities 94,956 — 94,956 — Asset-backed securities 27,548 — 18,685 8,863 Collateralized loan obligations 39,372 — 36,944 2,428 Bank notes 9,963 — 1,905 8,058 Total debt securities 917,008 — 889,442 27,566 Derivatives 1,187 — 1,187 — Equity securities 191,247 190,490 757 — Other investments measured at net asset value 1,640 — — — Total short-term investments 1,111,082 190,490 891,386 27,566 Other Assets Fuel derivative contracts 3,550 — 3,550 — Assets held-for-sale 5,024 — — 5,024 Total assets measured at fair value $ 1,176,606 $ 242,421 $ 899,955 $ 32,590 Fair Value Measurements as of December 31, 2022 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 46,729 $ 46,535 $ 194 $ — Restricted cash 17,498 17,498 — — Short-term investments Debt securities Corporate debt securities 317,623 — 309,450 8,173 U.S. government and agency securities 454,889 — 454,889 — Other fixed income securities 104,405 — 104,405 — Asset-backed securities 28,166 — 19,133 9,033 Collateralized loan obligations 40,182 — 37,624 2,558 Bank notes 11,304 — 1,878 9,426 Total debt securities 956,569 — 927,379 29,190 Derivatives 1,298 — 1,298 — Equity securities 187,460 186,670 790 — Other investments measured at net asset value 1,866 — — — Total short-term investments 1,147,193 186,670 929,467 29,190 Other Assets Assets held-for-sale 14,019 — — 14,019 Crude oil call options 5,308 — 5,308 — Total assets measured at fair value $ 1,230,747 $ 250,703 $ 934,969 $ 43,209
Schedule of Reconciliation Of Short Term Investments And Assets Held For Sale Measured at Fair Value On a Recurring Basis Unobservable Input	The reconciliation of the Company's short-term investments measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three months ended March 31, 2023 is as follows: Short-term Investment Activity for the three months ended March 31, 2023 Asset-Backed Securities Bank Notes Collateralized Loan Obligations Corporate Debt Securities Total (in thousands) Beginning balance as of December 31, 2022 $ 9,033 $ 9,426 $ 2,558 $ 8,173 $ 29,190 Purchases — 944 — — 944 Proceeds from sale — (2,189) — — (2,189) Redemptions and paydowns (41) (185) — (12) (238) Amortization and accretion, net 16 1 — (24) (7) Realized and unrealized gains (losses), net (145) 61 (130) 80 (134) Ending balance as of March 31, 2023 $ 8,863 $ 8,058 $ 2,428 $ 8,217 $ 27,566
Schedule of Debt (Excluding Obligations Under Capital Leases) Measured At Fair Value	The table below presents the Company’s debt measured at fair value: Fair Value of Debt March 31, 2023 December 31, 2022 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) $ 1,612,558 $ 1,406,911 $ — $ — $ 1,406,911 $ 1,631,725 $ 1,356,561 $ — $ — $ 1,356,561

Financial Derivative Instrume_2

Financial Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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 Consolidated Statements of Operations. Three months ended March 31, 2023 2022 (in thousands) Losses realized at settlement $ (1,513) $ — Reversal of prior period unrealized amounts 2,639 — Unrealized losses that will settle in future periods (6,191) — Losses on fuel derivatives recorded as Nonoperating Expense $ (5,065) $ —
Schedule of fair value of the asset and liability derivatives and net derivative position recorded	The following table presents 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 Consolidated Balance Sheets. Derivative positions as of March 31, 2023 Balance Sheet Notional Amount Final Gross Fair Gross Fair Net Derivative Position (in thousands) (in thousands) Derivatives not designated as hedges Fuel derivative contracts Prepaid expenses and other 78,582 gallons March 2024 $ 3,550 $ — $ 3,550 Foreign currency derivatives Short-term investments 36,885 European Dollars March 2025 $ 780 $ (12) $ 768 Interest rate contracts Short-term investments 17,417 US Dollars March 2026 $ 592 $ (173) $ 419 Derivative positions as of December 31, 2022 Balance Sheet Notional Amount Final Gross Fair Gross Fair Net Derivative Position (in thousands) (in thousands) Derivatives not designated as hedges Fuel derivative contracts Prepaid expenses and other 57,288 gallons December 2023 $ 5,308 $ — $ 5,308 Foreign currency derivatives Short-term investments 36,426 European Dollars March 2025 $ 1,254 $ (46) $ 1,208 Interest rate contracts Short-term investments 32,891 US Dollars March 2026 $ 190 $ (100) $ 90

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt, net of unamortized discounts and issuance costs, is outlined as follows: March 31, 2023 December 31, 2022 (in thousands) Class A EETC-13, fixed interest rate of 3.9%, semiannual principal and interest payments, remaining balance due at maturity in January 2026 $ 173,336 $ 184,572 Japanese Yen denominated financing, fixed interest rate of 1.05%, quarterly principal and interest payments, remaining balance due at maturity in May 2030 22,445 23,524 Japanese Yen denominated financing, fixed interest rate of 1.01%, semiannual principal and interest payments, remaining balance due at maturity in June 2030 20,060 20,350 Japanese Yen denominated financing, fixed interest rate of 0.65%, quarterly principal and interest payments, remaining balance due at maturity in March 2025 59,486 64,276 Japanese Yen denominated financing, fixed interest rate of 0.76%, semiannual principal and interest payments, remaining balance due at maturity in September 2031 51,981 55,731 CARES Act Payroll Support Program, fixed interest rate of 1.0% for the first through fifth years and variable interest of SOFR plus a margin of 2.0% for the sixth year through maturity, semiannual interest payments, principal balance due at maturity in April 2030 through September 2030 60,278 60,278 Payroll Support Program Extension, fixed interest rate of 1.0% for the first through fifth years and variable interest of SOFR plus a margin of 2.0% for the sixth year through maturity, semiannual interest payments, principal balance due at maturity in March 2031 through April 2031 27,797 27,797 Payroll Support Program 3, fixed interest rate of 1.0% for the first through fifth years and variable interest of SOFR plus a margin of 2.0% for the sixth year through maturity, semiannual interest payments, principal balance due at maturity in April 2031 through June 2031 23,908 23,908 Loyalty Program Financing, fixed interest of 5.75%, quarterly interest payments, principal balance due at maturity in January 2026 1,200,000 1,200,000 Unamortized debt discount and issuance costs (26,733) (28,711) Total Debt $ 1,612,558 $ 1,631,725 Less: Current maturities of long-term debt (46,176) (47,836) Long-Term Debt, less discount $ 1,566,382 $ 1,583,889
Schedule of Maturities of Long-Term Debt	As of March 31, 2023, the expected maturities of debt, excluding debt issuance costs, for the remainder of 2023 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2023 $ 29,918 2024 46,583 2025 60,061 2026 1,339,347 2027 11,893 Thereafter 151,489 $ 1,639,291

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The components of net periodic benefit cost for the Company’s defined benefit and other post-retirement plans included the following: Three months ended March 31, Components of Net Period Benefit Cost 2023 2022 (in thousands) Service cost $ 1,629 $ 2,392 Other cost: Interest cost 6,430 4,561 Expected return on plan assets (5,531) (6,471) Recognized net actuarial loss 595 624 Total other components of the net periodic benefit cost 1,494 (1,286) Net periodic benefit cost $ 3,123 $ 1,106

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Firm Aircraft and Engine Orders and Purchase Rights	As of March 31, 2023, the Company had the following aircraft-related commitments consisting of firm aircraft and engine orders and purchase rights for additional aircraft and engines: Aircraft Type Firm Orders Purchase Rights Expected Delivery Dates A321neo aircraft — 9 N/A B787-9 aircraft 12 8 Between 2023 and 2027 General Electric GEnx spare engines: B787-9 spare engines 3 1 Between 2023 and 2027
Schedule of Gross Committed Expenditures and Committed Payments	The gross committed expenditures and committed payments as of March 31, 2023 and for the next five fiscal years and thereafter are detailed below: Aircraft and Aircraft Related Other Total Committed (in thousands) Remaining in 2023 $ 199,879 $ 17,533 $ 217,412 2024 472,933 22,556 495,489 2025 477,598 12,657 490,255 2026 374,744 8,159 382,903 2027 215,208 6,036 221,244 Thereafter — 60,564 60,564 $ 1,740,362 $ 127,505 $ 1,867,867

Assets Held-For-Sale (Tables)

Assets Held-For-Sale (Tables)	3 Months Ended
	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets Held For Sale Activity	A roll-forward of the Assets held-for-sale activity for the three months ended March 31, 2023 and 2022 is as follows: Assets Held-For-Sale Activity 2023 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31 $ 7,728 $ 6,291 $ 14,019 Additions — — — Proceeds from sale (2,769) (16,470) (19,239) Realized gains 65 10,179 10,244 Realized losses — — — Ending balance as of March 31 $ 5,024 $ — $ 5,024 Assets Held-For-Sale Activity 2022 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31 $ 23,158 $ 6,291 $ 29,449 Additions 164 — 164 Proceeds from sale (1,075) — (1,075) Realized gains 356 — 356 Realized losses (451) — (451) Ending balance as of March 31 $ 22,152 $ 6,291 $ 28,443

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Consolidating Statements of Operations and Comprehensive Loss	Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) Three months ended March 31, 2023 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 611,800 $ 14,275 $ (13,472) $ 612,603 Operating Expenses: Wages and benefits — 241,933 — — 241,933 Aircraft fuel, including taxes and delivery — 197,625 — — 197,625 Maintenance, materials and repairs — 50,318 (31) — 50,287 Aircraft and passenger servicing — 42,532 — — 42,532 Commissions and other selling 8 28,153 222 (145) 28,238 Aircraft rent — 28,171 — — 28,171 Other rentals and landing fees — 38,739 — (19) 38,720 Depreciation and amortization — 32,667 — — 32,667 Purchased services 119 34,451 568 (66) 35,072 Other 1,829 55,564 (9,368) (13,240) 34,785 Total 1,956 750,153 (8,609) (13,470) 730,030 Operating Income (Loss) (1,956) (138,353) 22,884 (2) (117,427) Nonoperating Income (Expense): Undistributed net loss of subsidiaries (96,696) (4,830) — 101,526 — Interest expense and amortization of debt discounts and issuance costs — (5,147) (18,473) 740 (22,880) Interest income 398 15,542 1,265 (740) 16,465 Capitalized interest — 1,458 — — 1,458 Losses on fuel derivatives — (5,065) — — (5,065) Other components of net periodic pension cost — (1,494) — — (1,494) Gains on investments, net — 697 — — 697 Gains on foreign debt — 2,260 — — 2,260 Other, net — 155 — — 155 Total (96,298) 3,576 (17,208) 101,526 (8,404) Income (Loss) Before Income Taxes (98,254) (134,777) 5,676 101,524 (125,831) Income tax benefit — (27,574) — — (27,574) Net Income (Loss) $ (98,254) $ (107,203) $ 5,676 $ 101,524 $ (98,257) Comprehensive Income (Loss) $ (100,309) $ (109,255) $ 5,676 $ 103,579 $ (100,309) Condensed Consolidating Statements of Operations and Comprehensive Loss Three months ended March 31, 2022 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 476,591 $ 9,727 $ (9,104) $ 477,214 Operating Expenses: Wages and benefits — 203,099 — — 203,099 Aircraft fuel, including taxes and delivery — 150,982 — — 150,982 Maintenance, materials and repairs — 55,490 160 — 55,650 Aircraft and passenger servicing — 33,815 — — 33,815 Commissions and other selling — 20,624 230 (207) 20,647 Aircraft rent — 26,276 — — 26,276 Depreciation and amortization — 33,755 — — 33,755 Other rentals and landing fees — 34,640 — (29) 34,611 Purchased services 43 30,291 419 (66) 30,687 Other 2,218 41,839 242 (8,802) 35,497 Total 2,261 630,811 1,051 (9,104) 625,019 Operating Income (Loss) (2,261) (154,220) 8,676 — (147,805) Nonoperating Income (Expense): Undistributed net loss of subsidiaries (131,023) (9,420) — 140,443 — Interest expense and amortization of debt discounts and issuance costs — (7,324) (18,453) 740 (25,037) Interest income 7 4,425 742 (740) 4,434 Capitalized interest — 1,052 — — 1,052 Other components of net periodic pension cost — 1,286 — — 1,286 Losses on investments, net — (12,364) — — (12,364) Gains on foreign debt — 11,762 — — 11,762 Other, net — 374 — — 374 Total (131,016) (10,209) (17,711) 140,443 (18,493) Loss Before Income Taxes (133,277) (164,429) (9,035) 140,443 (166,298) Income tax benefit — (33,020) — — (33,020) Net Loss $ (133,277) $ (131,409) $ (9,035) $ 140,443 $ (133,278) Comprehensive Loss $ (149,288) $ (147,419) $ (9,035) $ 156,454 $ (149,288)
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets March 31, 2023 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current Assets: Cash and cash equivalents $ 27,571 $ 213,220 $ 31,064 $ — $ 271,855 Restricted cash — — 17,648 — 17,648 Short-term investments — 1,111,082 — — 1,111,082 Accounts receivable, net 1,269 86,400 32,413 (20,202) 99,880 Income taxes receivable — 3,382 — — 3,382 Spare parts and supplies, net — 38,905 — — 38,905 Prepaid expenses and other — 83,021 — — 83,021 Total 28,840 1,536,010 81,125 (20,202) 1,625,773 Property and equipment at cost — 3,105,592 — — 3,105,592 Less accumulated depreciation and amortization — (1,167,795) — — (1,167,795) Property and equipment, net — 1,937,797 — — 1,937,797 Assets held-for-sale — 288 4,736 — 5,024 Operating lease right-of-use assets — 439,228 — — 439,228 Long-term prepayments and other — 105,883 1,200,253 (1,200,000) 106,136 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable (421,091) (45,222) — 466,313 — Investment in consolidated subsidiaries 807,451 (17,307) 503 (790,647) — Total Assets $ 415,200 $ 3,956,677 $ 1,300,117 $ (1,544,536) $ 4,127,458 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities: Accounts payable $ 1,282 $ 214,779 $ 553 $ (13,750) $ 202,864 Air traffic liability and current frequent flyer deferred revenue — 736,874 9,593 — 746,467 Other accrued liabilities — 178,454 14,909 (6,452) 186,911 Current maturities of long-term debt, less discount — 46,176 — — 46,176 Current maturities of finance lease obligations — 24,819 — — 24,819 Current maturities of operating leases — 78,620 — — 78,620 Total 1,282 1,279,722 25,055 (20,202) 1,285,857 Long-Term Debt — 1,580,601 1,185,781 (1,200,000) 1,566,382 Intercompany payable 180,598 (585,836) 121,385 283,853 — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 69,895 — — 69,895 Noncurrent operating leases — 328,370 — — 328,370 Accumulated pension and other post-retirement benefit obligations — 141,508 — — 141,508 Other liabilities and deferred credits — 74,588 — — 74,588 Noncurrent frequent flyer deferred revenue — 325,407 — — 325,407 Deferred tax liabilities, net — 102,131 — — 102,131 Total — 1,041,899 — — 1,041,899 Shareholders’ equity 233,320 640,291 (32,104) (608,187) 233,320 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 415,200 $ 3,956,677 $ 1,300,117 $ (1,544,536) $ 4,127,458 Condensed Consolidating Balance Sheets December 31, 2022 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 28,620 $ 151,357 $ 49,145 $ — $ 229,122 Restricted cash — — 17,498 — 17,498 Short-term investments — 1,147,193 — — 1,147,193 Accounts receivable, net — 106,321 25,785 (18,244) 113,862 Income taxes receivable, net — 70,204 — — 70,204 Spare parts and supplies, net — 36,875 — — 36,875 Prepaid expenses and other — 63,524 29 — 63,553 Total 28,620 1,575,474 92,457 (18,244) 1,678,307 Property and equipment at cost — 3,009,614 — — 3,009,614 Less accumulated depreciation and amortization — (1,135,262) — — (1,135,262) Property and equipment, net — 1,874,352 — — 1,874,352 Assets held-for-sale — 293 13,726 — 14,019 Operating lease right-of-use assets — 459,128 — — 459,128 Long-term prepayments and other — 99,801 1,200,516 (1,200,000) 100,317 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable — 609,207 — (609,207) — Investment in consolidated subsidiaries 767,831 (57,699) 502 (710,634) — Total Assets $ 796,451 $ 4,560,556 $ 1,320,701 $ (2,538,085) $ 4,139,623 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 630 $ 207,294 $ 617 $ (12,532) $ 196,009 Air traffic liability and current frequent flyer deferred revenue — 579,872 10,924 — 590,796 Other accrued liabilities — 172,190 15,558 (5,712) 182,036 Current maturities of long-term debt, less discount — 47,836 — — 47,836 Current maturities of finance lease obligations — 25,789 — — 25,789 Current maturities of operating leases — 77,858 — — 77,858 Total 630 1,110,839 27,099 (18,244) 1,120,324 Long-Term Debt — 1,599,330 1,184,559 (1,200,000) 1,583,889 Intercompany payable 462,556 — 146,651 (609,207) — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 75,221 — — 75,221 Noncurrent operating leases — 347,726 — — 347,726 Accumulated pension and other post-retirement benefit obligations — 135,775 — — 135,775 Other liabilities and deferred credits — 94,481 173 — 94,654 Noncurrent frequent flyer deferred revenue — 318,369 — — 318,369 Deferred tax liabilities, net — 130,400 — — 130,400 Total — 1,101,972 173 — 1,102,145 Shareholders’ equity 333,265 748,415 (37,781) (710,634) 333,265 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 796,451 $ 4,560,556 $ 1,320,701 $ (2,538,085) $ 4,139,623
Schedule of Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows Three months ended March 31, 2023 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (613) $ 122,379 $ (3,475) $ — $ 118,291 Cash Flows From Investing Activities: Net payments to affiliates — 24,435 (17,206) (7,229) — Additions to property and equipment, including pre-delivery deposits — (106,215) — — (106,215) Proceeds from the disposition of aircraft and aircraft related equipment 6,793 20 2,750 — 9,563 Purchases of investments — (96,806) — — (96,806) Sales of investments — 144,069 — — 144,069 Net cash provided by (used in) investing activities 6,793 (34,497) (14,456) (7,229) (49,389) Cash Flows From Financing Activities: Repayments of long-term debt and finance lease obligations — (24,953) — — (24,953) Net payments from affiliates (7,229) — — 7,229 — Payment for taxes withheld for stock compensation — (1,066) — — (1,066) Net cash used in financing activities (7,229) (26,019) — 7,229 (26,019) Net increase (decrease) in cash and cash equivalents (1,049) 61,863 (17,931) — 42,883 Cash, cash equivalents, & restricted cash - Beginning of Period 28,620 151,357 66,643 — 246,620 Cash, cash equivalents, & restricted cash - End of Period $ 27,571 $ 213,220 $ 48,712 $ — $ 289,503 Condensed Consolidating Statements of Cash Flows Three months ended March 31, 2022 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (1,442) $ 28,203 $ (4,607) $ — $ 22,154 Cash Flows From Investing Activities: Net payments to affiliates — (886) 1,237 (351) — Additions to property and equipment, including pre-delivery deposits — (9,066) — — (9,066) Proceeds from the disposition of aircraft and aircraft related equipment — 63 1,061 — 1,124 Purchases of investments — (263,161) — — (263,161) Sales of investments — 307,780 — — 307,780 Net cash provided by (used in) investing activities — 34,730 2,298 (351) 36,677 Cash Flows From Financing Activities: Repayments of long-term debt and finance lease obligations — (66,704) — — (66,704) Net payments from affiliates (351) — — 351 — Payment for taxes withheld for stock compensation — (1,490) — — (1,490) Net cash used in financing activities (351) (68,194) — 351 (68,194) Net decrease in cash and cash equivalents (1,793) (5,261) (2,309) — (9,363) Cash, cash equivalents, & restricted cash - Beginning of Period 20,803 434,615 52,410 — 507,828 Cash, cash equivalents, & restricted cash - End of Period $ 19,010 $ 429,354 $ 50,101 $ — $ 498,465

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Amounts reclassified from AOCI
Nonoperating Income (Expense), Other, net	$ (155)	$ (374)
Income tax expense (benefit)	(27,574)	(33,020)
Total, net of tax	98,257	133,278
Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Total, net of tax	1,094	1,942
Actuarial loss | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Nonoperating Income (Expense), Other, net	450	532
Prior service cost | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Nonoperating Income (Expense), Other, net	145	92
Amortization of defined benefit plan items | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Total before tax	595	624
Income tax expense (benefit)	(147)	(155)
Total, net of tax	448	469
Short-term investments | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Realized gain on sales of investments	(393)	(3,044)
Realized loss on sales of investments	911	4,931
Total before tax	518	1,887
Income tax expense (benefit)	128	(414)
Total, net of tax	$ 646	$ 1,473

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Roll-Forward of the Amounts Included in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	$ 333,265	$ 569,086
Other comprehensive income (loss) before reclassifications, net of tax	(3,146)	(17,952)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	1,094	1,942
Total other comprehensive loss	(2,052)	(16,010)
Ending balance	233,320	420,252
Defined Benefit Plan Items
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(59,439)	(75,025)
Other comprehensive income (loss) before reclassifications, net of tax	(7,526)	161
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	448	469
Total other comprehensive loss	(7,078)	630
Ending balance	(66,517)	(74,395)
Short-Term Investments
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(35,727)	(6,813)
Other comprehensive income (loss) before reclassifications, net of tax	4,380	(18,113)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	646	1,473
Total other comprehensive loss	5,026	(16,640)
Ending balance	(30,701)	(23,453)
Total
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(95,166)	(81,838)
Total other comprehensive loss	(2,052)	(16,010)
Ending balance	$ (97,218)	$ (97,848)

Loss Per Share - Schedule of Po

Loss Per Share - Schedule of Potential Dilution (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Oct. 20, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded (in shares)	95,819	488,478
Numerator:
Net Loss	$ (98,257)	$ (133,278)
Denominator:
Weighted average common stock shares outstanding - basic (in shares)	51,507,000	51,288,000
Weighted average common stock shares outstanding - diluted (in shares)	51,507,000	51,288,000
Net Loss Per Share
Basic (in dollars per share)	$ (1.91)	$ (2.60)
Diluted (in dollars per share)	$ (1.91)	$ (2.60)
Amazon.com Services LLC
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants issued (in shares)	8,183,451	0	9,442,443

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended			12 Months Ended
	Apr. 30, 2020	Mar. 31, 2023 USD ($) segment business	Mar. 31, 2022 USD ($)	Mar. 31, 2020	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of significant lines of business offered by company | business		1
Number of reportable segments | segment		1
Expected timing of satisfaction for future revenue		represents revenue that is expected to be realized in future periods.
Non-refundable ticket expiration period				13 months
Extended ticket validity period	24 months
Passenger revenue, excluding frequent flyer
Disaggregation of Revenue [Line Items]
Air traffic liability		$ 569.4			$ 414.5
Air traffic revenue recognized		294.5	$ 198.8
Passenger revenue, excluding frequent flyer | Tickets Expired Unused After Receiving Extended Validity Date
Disaggregation of Revenue [Line Items]
Air traffic revenue recognized					$ 151.9
Passenger revenue, excluding frequent flyer | Advanced Ticket Breakage
Disaggregation of Revenue [Line Items]
Air traffic revenue recognized		$ 12.6	$ 17.8

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation Of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Operating revenue	$ 612,603	$ 477,214
Passenger revenue, excluding frequent flyer
Disaggregation of Revenue [Line Items]
Operating revenue	505,962	372,181
Frequent flyer revenue, transportation component
Disaggregation of Revenue [Line Items]
Operating revenue	42,564	31,848
Passenger Revenue
Disaggregation of Revenue [Line Items]
Operating revenue	548,526	404,029
Other revenue (e.g., cargo and other miscellaneous)
Disaggregation of Revenue [Line Items]
Operating revenue	35,139	45,816
Frequent flyer revenue, marketing and brand component
Disaggregation of Revenue [Line Items]
Operating revenue	28,938	27,369
Other Revenue
Disaggregation of Revenue [Line Items]
Operating revenue	64,077	73,185
Domestic
Disaggregation of Revenue [Line Items]
Operating revenue	486,129	438,416
Pacific
Disaggregation of Revenue [Line Items]
Operating revenue	$ 126,474	$ 38,798

Revenue Recognition - Frequent

Revenue Recognition - Frequent Flyer Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Air traffic liability (current portion of frequent flyer revenue)	$ 746,467	$ 590,796
Noncurrent frequent flyer deferred revenue	325,407	318,369
Frequent flyer revenue
Disaggregation of Revenue [Line Items]
Air traffic liability (current portion of frequent flyer revenue)	169,885	166,211
Noncurrent frequent flyer deferred revenue	325,407	318,369
Total frequent flyer liability	$ 495,292	$ 484,580	$ 480,463	$ 466,171

Revenue Recognition - Rollforwa

Revenue Recognition - Rollforward of Frequent Flyer Deferred Revenue (Details) - Frequent flyer revenue - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Movement in Deferred Revenue [Roll Forward]
Total Frequent flyer liability - beginning balance	$ 484,580	$ 466,171
Miles awarded	54,502	47,503
Travel miles redeemed (Passenger Revenue)	(42,564)	(31,848)
Non-travel miles redeemed (Other Revenue)	(1,226)	(1,363)
Total Frequent flyer liability - ending balance	$ 495,292	$ 480,463

Short-Term Investments (Details

Short-Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Marketable Securities [Line Items]
Amortized Cost	$ 1,175,839	$ 1,219,556
Gross Unrealized Gains	1,891	1,909
Gross Unrealized Losses	(66,648)	(74,272)
Fair Value	1,111,082	1,147,193
Fair value. less than 12 months	283,349	520,914
Unrealized losses, less than 12 months	(7,653)	(22,932)
Fair value, 12 months or greater	454,076	305,111
Unrealized losses, 12 months or greater	(33,921)	(25,053)
Fair Value	737,425	826,025
Unrealized Losses	(41,574)	(47,985)
Contractual Maturities
Total	1,111,082	1,147,193
Debt securities
Marketable Securities [Line Items]
Amortized Cost	957,758	1,003,857
Gross Unrealized Gains	765	476
Gross Unrealized Losses	(41,515)	(47,764)
Fair Value	917,008	956,569
Fair value. less than 12 months	283,349	520,049
Unrealized losses, less than 12 months	(7,653)	(22,711)
Fair value, 12 months or greater	453,437	305,111
Unrealized losses, 12 months or greater	(33,862)	(25,053)
Fair Value	736,786	825,160
Unrealized Losses	(41,515)	(47,764)
Contractual Maturities
Under 1 Year	117,563
1 to 5 Years	644,162
Over 5 Years	155,283
Total	917,008	956,569
Corporate debt securities
Marketable Securities [Line Items]
Amortized Cost	319,061	340,493
Gross Unrealized Gains	199	139
Gross Unrealized Losses	(19,109)	(23,009)
Fair Value	300,151	317,623
Fair value. less than 12 months	68,596	145,299
Unrealized losses, less than 12 months	(3,873)	(10,104)
Fair value, 12 months or greater	216,436	159,216
Unrealized losses, 12 months or greater	(15,236)	(12,905)
Fair Value	285,032	304,515
Unrealized Losses	(19,109)	(23,009)
Contractual Maturities
Under 1 Year	243
1 to 5 Years	220,067
Over 5 Years	79,841
Total	300,151	317,623
U.S. government and agency securities
Marketable Securities [Line Items]
Amortized Cost	453,158	467,049
Gross Unrealized Gains	516	181
Gross Unrealized Losses	(8,656)	(12,341)
Fair Value	445,018	454,889
Fair value. less than 12 months	195,540	314,790
Unrealized losses, less than 12 months	(2,955)	(8,097)
Fair value, 12 months or greater	150,939	98,653
Unrealized losses, 12 months or greater	(5,701)	(4,244)
Fair Value	346,479	413,443
Unrealized Losses	(8,656)	(12,341)
Contractual Maturities
Under 1 Year	65,001
1 to 5 Years	370,469
Over 5 Years	9,548
Total	445,018	454,889
Other fixed income securities
Marketable Securities [Line Items]
Amortized Cost	102,244	110,881
Gross Unrealized Gains	20	23
Gross Unrealized Losses	(7,308)	(6,499)
Fair Value	94,956	104,405
Fair value. less than 12 months	6,382	17,836
Unrealized losses, less than 12 months	(169)	(1,191)
Fair value, 12 months or greater	34,036	23,316
Unrealized losses, 12 months or greater	(7,139)	(5,308)
Fair Value	40,418	41,152
Unrealized Losses	(7,308)	(6,499)
Contractual Maturities
Under 1 Year	51,442
1 to 5 Years	30,506
Over 5 Years	13,008
Total	94,956	104,405
Asset-backed securities
Marketable Securities [Line Items]
Amortized Cost	29,360	30,205
Gross Unrealized Gains	10	0
Gross Unrealized Losses	(1,822)	(2,039)
Fair Value	27,548	28,166
Fair value. less than 12 months	6,916	11,155
Unrealized losses, less than 12 months	(62)	(755)
Fair value, 12 months or greater	18,136	14,435
Unrealized losses, 12 months or greater	(1,760)	(1,284)
Fair Value	25,052	25,590
Unrealized Losses	(1,822)	(2,039)
Contractual Maturities
Under 1 Year	720
1 to 5 Years	17,343
Over 5 Years	9,485
Total	27,548	28,166
Collateralized loan obligations
Marketable Securities [Line Items]
Amortized Cost	43,808	43,736
Gross Unrealized Gains	0	130
Gross Unrealized Losses	(4,436)	(3,684)
Fair Value	39,372	40,182
Fair value. less than 12 months	3,165	28,133
Unrealized losses, less than 12 months	(420)	(2,372)
Fair value, 12 months or greater	33,779	9,491
Unrealized losses, 12 months or greater	(4,016)	(1,312)
Fair Value	36,944	37,624
Unrealized Losses	(4,436)	(3,684)
Contractual Maturities
Under 1 Year	0
1 to 5 Years	0
Over 5 Years	39,372
Total	39,372	40,182
Bank notes
Marketable Securities [Line Items]
Amortized Cost	10,127	11,493
Gross Unrealized Gains	20	3
Gross Unrealized Losses	(184)	(192)
Fair Value	9,963	11,304
Fair value. less than 12 months	2,750	2,836
Unrealized losses, less than 12 months	(174)	(192)
Fair value, 12 months or greater	111	0
Unrealized losses, 12 months or greater	(10)	0
Fair Value	2,861	2,836
Unrealized Losses	(184)	(192)
Contractual Maturities
Under 1 Year	157
1 to 5 Years	5,777
Over 5 Years	4,029
Total	9,963	11,304
Derivatives
Marketable Securities [Line Items]
Amortized Cost	284	43
Gross Unrealized Gains	1,126	1,433
Gross Unrealized Losses	(223)	(178)
Fair Value	1,187	1,298
Contractual Maturities
Total	1,187	1,298
Equity securities
Marketable Securities [Line Items]
Amortized Cost	216,098	213,569
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(24,851)	(26,109)
Fair Value	191,247	187,460
Contractual Maturities
Total	191,247	187,460
Other investments measured at net asset value
Marketable Securities [Line Items]
Amortized Cost	1,699	2,087
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(59)	(221)
Fair Value	1,640	1,866
Fair value. less than 12 months	0	865
Unrealized losses, less than 12 months	0	(221)
Fair value, 12 months or greater	639	0
Unrealized losses, 12 months or greater	(59)	0
Fair Value	639	865
Unrealized Losses	(59)	(221)
Contractual Maturities
Total	$ 1,640	$ 1,866

Short-Term Investments - Narrat

Short-Term Investments - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) position	Mar. 31, 2022 USD ($)	Dec. 31, 2022 position
Short-Term Investments [Abstract]
Number of unrealized losses from debt and equity securities generated	487		496
Number of unrealized losses from debt and equity securities	554		547
Unrealized gain (loss) on equity securities | $	$ 0.9	$ (11.5)

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Measurements
Restricted cash	$ 17,648	$ 17,498
Short-term investments	1,111,082	1,147,193
Recurring basis
Fair Value Measurements
Cash equivalents	39,302	46,729
Restricted cash	17,648	17,498
Short-term investments	1,111,082	1,147,193
Equity securities	191,247	187,460
Other investments measured at net asset value	1,640	1,866
Assets held-for-sale	5,024	14,019
Total assets measured at fair value	1,176,606	1,230,747
Recurring basis | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	3,550
Recurring basis | Crude oil call options
Fair Value Measurements
Fuel derivative contracts		5,308
Recurring basis | Level 1
Fair Value Measurements
Cash equivalents	34,283	46,535
Restricted cash	17,648	17,498
Short-term investments	190,490	186,670
Equity securities	190,490	186,670
Other investments measured at net asset value	0	0
Assets held-for-sale	0	0
Total assets measured at fair value	242,421	250,703
Recurring basis | Level 1 | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	0
Recurring basis | Level 1 | Crude oil call options
Fair Value Measurements
Fuel derivative contracts		0
Recurring basis | Level 2
Fair Value Measurements
Cash equivalents	5,019	194
Restricted cash	0	0
Short-term investments	891,386	929,467
Equity securities	757	790
Other investments measured at net asset value	0	0
Assets held-for-sale	0	0
Total assets measured at fair value	899,955	934,969
Recurring basis | Level 2 | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	3,550
Recurring basis | Level 2 | Crude oil call options
Fair Value Measurements
Fuel derivative contracts		5,308
Recurring basis | Level 3
Fair Value Measurements
Cash equivalents	0	0
Restricted cash	0	0
Short-term investments	27,566	29,190
Equity securities	0	0
Other investments measured at net asset value	0	0
Assets held-for-sale	5,024	14,019
Total assets measured at fair value	32,590	43,209
Recurring basis | Level 3 | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	0
Recurring basis | Level 3 | Crude oil call options
Fair Value Measurements
Fuel derivative contracts		0
Recurring basis | Debt securities
Fair Value Measurements
Short-term investments	917,008	956,569
Recurring basis | Debt securities | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Debt securities | Level 2
Fair Value Measurements
Short-term investments	889,442	927,379
Recurring basis | Debt securities | Level 3
Fair Value Measurements
Short-term investments	27,566	29,190
Recurring basis | Corporate debt securities
Fair Value Measurements
Short-term investments	300,151	317,623
Recurring basis | Corporate debt securities | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Corporate debt securities | Level 2
Fair Value Measurements
Short-term investments	291,934	309,450
Recurring basis | Corporate debt securities | Level 3
Fair Value Measurements
Short-term investments	8,217	8,173
Recurring basis | U.S. government and agency securities
Fair Value Measurements
Short-term investments	445,018	454,889
Recurring basis | U.S. government and agency securities | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | U.S. government and agency securities | Level 2
Fair Value Measurements
Short-term investments	445,018	454,889
Recurring basis | U.S. government and agency securities | Level 3
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Other fixed income securities
Fair Value Measurements
Short-term investments	94,956	104,405
Recurring basis | Other fixed income securities | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Other fixed income securities | Level 2
Fair Value Measurements
Short-term investments	94,956	104,405
Recurring basis | Other fixed income securities | Level 3
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Asset-backed securities
Fair Value Measurements
Short-term investments	27,548	28,166
Recurring basis | Asset-backed securities | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Asset-backed securities | Level 2
Fair Value Measurements
Short-term investments	18,685	19,133
Recurring basis | Asset-backed securities | Level 3
Fair Value Measurements
Short-term investments	8,863	9,033
Recurring basis | Collateralized loan obligations
Fair Value Measurements
Short-term investments	39,372	40,182
Recurring basis | Collateralized loan obligations | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Collateralized loan obligations | Level 2
Fair Value Measurements
Short-term investments	36,944	37,624
Recurring basis | Collateralized loan obligations | Level 3
Fair Value Measurements
Short-term investments	2,428	2,558
Recurring basis | Bank notes
Fair Value Measurements
Short-term investments	9,963	11,304
Recurring basis | Bank notes | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Bank notes | Level 2
Fair Value Measurements
Short-term investments	1,905	1,878
Recurring basis | Bank notes | Level 3
Fair Value Measurements
Short-term investments	8,058	9,426
Recurring basis | Derivatives
Fair Value Measurements
Short-term investments	1,187	1,298
Recurring basis | Derivatives | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Derivatives | Level 2
Fair Value Measurements
Short-term investments	1,187	1,298
Recurring basis | Derivatives | Level 3
Fair Value Measurements
Short-term investments	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	Mar. 31, 2023 USD ($)
Fair Value Disclosures [Abstract]
Restricted cash	$ 17.6

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Short Term Investments and Assets Held For Sale Measured At Fair Value on a Recurring Basis Unobservable Input (Details) - Short-term Investments - Level 3 - Recurring basis $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 29,190
Purchases	944
Proceeds from sale	(2,189)
Redemptions and paydowns	(238)
Amortization and accretion, net	(7)
Realized and unrealized gains (losses), net	(134)
Ending balance	27,566
Asset-Backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9,033
Purchases	0
Proceeds from sale	0
Redemptions and paydowns	(41)
Amortization and accretion, net	16
Realized and unrealized gains (losses), net	(145)
Ending balance	8,863
Bank Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9,426
Purchases	944
Proceeds from sale	(2,189)
Redemptions and paydowns	(185)
Amortization and accretion, net	1
Realized and unrealized gains (losses), net	61
Ending balance	8,058
Collateralized Loan Obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,558
Purchases	0
Proceeds from sale	0
Redemptions and paydowns	0
Amortization and accretion, net	0
Realized and unrealized gains (losses), net	(130)
Ending balance	2,428
Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	8,173
Purchases	0
Proceeds from sale	0
Redemptions and paydowns	(12)
Amortization and accretion, net	(24)
Realized and unrealized gains (losses), net	80
Ending balance	$ 8,217

Fair Value Measurements - Debt

Fair Value Measurements - Debt Measured at Fair Value (Excluding Obligations Under Capital Leases and Financing Obligations) (Details) - Recurring basis - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Measurements
Carrying Amount	$ 1,612,558	$ 1,631,725
Fair Value	1,406,911	1,356,561
Level 1
Fair Value Measurements
Fair Value	0	0
Level 2
Fair Value Measurements
Fair Value	0	0
Level 3
Fair Value Measurements
Fair Value	$ 1,406,911	$ 1,356,561

Financial Derivative Instrume_3

Financial Derivative Instruments - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Derivative instrument
Losses on fuel derivatives recorded as Nonoperating Expense	$ (5,065)	$ 0
Not Designated as Hedging Instrument | Commodity Contract
Derivative instrument
Losses realized at settlement	(1,513)	0
Reversal of prior period unrealized amounts	2,639	0
Unrealized losses that will settle in future periods	(6,191)	0
Losses on fuel derivatives recorded as Nonoperating Expense	$ (5,065)	$ 0

Financial Derivative Instrume_4

Financial Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivative instrument
Net derivative position	$ 4,700,000		$ 6,600,000
Collateral posted with counterparties	300,000		$ 0
Derivatives
Derivative instrument
Net asset position	1,200,000	$ 1,300,000
Unrealized gain (loss)	$ (100,000)	$ 1,400,000

Financial Derivative Instrume_5

Financial Derivative Instruments - Derivative Positions (Details) € in Thousands, gal in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) gal	Dec. 31, 2022 USD ($) gal	Mar. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)
Fair Value of Derivatives
Net derivative position	$ 4,700	$ 6,600
Not Designated as Hedging Instrument | Commodity Contract
Fair Value of Derivatives
Notional amount (in gallons) | gal	78,582	57,288
Gross fair value of assets, current	$ 3,550	$ 5,308
Gross fair value of (liabilities), current	0	0
Net derivative position	3,550	5,308
Not Designated as Hedging Instrument | Foreign currency derivatives
Fair Value of Derivatives
Derivative, notional amount | €			€ 36,885	€ 36,426
Gross fair value of assets, current	780	1,254
Gross fair value of (liabilities), current	(12)	(46)
Net derivative position	768	1,208
Not Designated as Hedging Instrument | Interest rate contracts
Fair Value of Derivatives
Derivative, notional amount	17,417	32,891
Gross fair value of assets, current	592	190
Gross fair value of (liabilities), current	(173)	(100)
Net derivative position	$ 419	$ 90

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 1,639,291
Unamortized debt discount and issuance costs	(26,733)	$ (28,711)
Total Debt	1,612,558	1,631,725
Less: Current maturities of long-term debt	(46,176)	(47,836)
Long-Term Debt, less discount	$ 1,566,382	$ 1,583,889
Enhanced Equipment Trust Certificates (EETC) | Class A EETC-13
Debt Instrument [Line Items]
Interest rate (as a percent)	3.90%	3.90%
Long-term debt	$ 173,336	$ 184,572
1.05% Japanese Yen Denominated Debt Due May 2030
Debt Instrument [Line Items]
Interest rate (as a percent)	1.05%	1.05%
Long-term debt	$ 22,445	$ 23,524
1.01% Japanese Yen Denominated Debt Due June 2030
Debt Instrument [Line Items]
Interest rate (as a percent)	1.01%	1.01%
Long-term debt	$ 20,060	$ 20,350
0.65% Japanese Yen Denominated Debt Due March 2025
Debt Instrument [Line Items]
Interest rate (as a percent)	0.65%	0.65%
Long-term debt	$ 59,486	$ 64,276
0.76% Japanese Yen Denominated Debt Due September 2031
Debt Instrument [Line Items]
Interest rate (as a percent)	0.76%	0.76%
Long-term debt	$ 51,981	$ 55,731
Payroll Support Program
Debt Instrument [Line Items]
Interest rate (as a percent)	1%	1%
Long-term debt	$ 60,278	$ 60,278
Payroll Support Program | Secured overnight financing rate
Debt Instrument [Line Items]
Margin	2%	2%
Payroll Support Program Extension
Debt Instrument [Line Items]
Interest rate (as a percent)	1%	1%
Long-term debt	$ 27,797	$ 27,797
Payroll Support Program Extension | Secured overnight financing rate
Debt Instrument [Line Items]
Margin	2%	2%
Payroll Support Program 3
Debt Instrument [Line Items]
Interest rate (as a percent)	1%	1%
Long-term debt	$ 23,908	$ 23,908
Payroll Support Program 3 | Secured overnight financing rate
Debt Instrument [Line Items]
Margin	2%	2%
Senior Notes | 5.75% Senior Secured Notes
Debt Instrument [Line Items]
Interest rate (as a percent)	5.75%	5.75%
Long-term debt	$ 1,200,000	$ 1,200,000

Debt - Narrative (Details)

Debt - Narrative (Details) - Revolving credit facility - Line of credit - USD ($)	1 Months Ended
	Aug. 31, 2022	Mar. 31, 2023
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 235,000,000
Outstanding borrowings		$ 0
Secured overnight financing rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)	3%
Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)	2%

Debt - Maturity of Long-Term De

Debt - Maturity of Long-Term Debt (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Remaining months in 2023	$ 29,918
2024	46,583
2025	60,061
2026	1,339,347
2027	11,893
Thereafter	151,489
Long-term debt	$ 1,639,291

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Components of Net Period Benefit Cost
Service cost	$ 1,629,000	$ 2,392,000
Other cost:
Interest cost	6,430,000	4,561,000
Expected return on plan assets	(5,531,000)	(6,471,000)
Recognized net actuarial loss	595,000	624,000
Total other components of the net periodic benefit cost	1,494,000	(1,286,000)
Net periodic benefit cost	3,123,000	1,106,000
Contribution to defined benefit and other postretirement plans	$ 0	$ 0

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Orders and Purchase Rights (Details) - Aircraft and Aircraft Related	3 Months Ended
	Mar. 31, 2023 purchaseRight order
B787-9 spare engines
Long-term Purchase Commitment [Line Items]
Firm Orders | order	3
Purchase Rights | purchaseRight	1
A321neo aircraft
Long-term Purchase Commitment [Line Items]
Firm Orders | order	0
Purchase Rights | purchaseRight	9
B787-9 aircraft
Long-term Purchase Commitment [Line Items]
Firm Orders | order	12
Purchase Rights | purchaseRight	8

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Narrative (Details)	1 Months Ended
	Oct. 31, 2018 engine	Jul. 31, 2018 aircraft	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Credit card processing agreements
Long-term Purchase Commitment [Line Items]
Restricted cash | $			$ 0	$ 0
Maximum amount that holdback could increase			100%
B787-9 aircraft
Long-term Purchase Commitment [Line Items]
Number of aircraft under purchase agreements | aircraft		10
Number of aircraft with purchase rights | aircraft		10
B787-9 aircraft | General Electric GEnx engines
Long-term Purchase Commitment [Line Items]
Number of engines, firm order	20
Number of engines, purchase rights	20
B787-9 aircraft | General Electric GEnx spare engines
Long-term Purchase Commitment [Line Items]
Number of spare engine purchase rights	4

Commitments and Contingent Li_5

Commitments and Contingent Liabilities - Committed Expenditures and Committed Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Total Committed Expenditures
Remaining in 2023	$ 217,412
2024	495,489
2025	490,255
2026	382,903
2027	221,244
Thereafter	60,564
Total	1,867,867
Aircraft and Aircraft Related
Total Committed Expenditures
Remaining in 2023	199,879
2024	472,933
2025	477,598
2026	374,744
2027	215,208
Thereafter	0
Total	1,740,362
Other
Total Committed Expenditures
Remaining in 2023	17,533
2024	22,556
2025	12,657
2026	8,159
2027	6,036
Thereafter	60,564
Total	$ 127,505

Assets Held-For-Sale - Narrativ

Assets Held-For-Sale - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) aircraft	Jun. 30, 2021 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held-for-sale					$ 5,024	$ 14,019
Write-down of fleet		$ 6,300
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held-for-sale				$ 29,500	5,024	14,019	$ 28,443	$ 29,449
Held-for-sale | 'Ohana by Hawaiian
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held-for-sale				23,400
Write-down of fleet				6,400
Held-for-sale | Commercial Real Estate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held-for-sale				$ 6,100	$ 0	$ 6,291	$ 6,291	$ 6,291
Disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of aircraft sold | aircraft			3
Gain on sale of aircraft	$ 10,200		$ 2,600

Assets Held-For-Sale - Asset He

Assets Held-For-Sale - Asset Held for Sale Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance as of December 31	$ 14,019
Ending balance as of March 31	5,024
Held-for-sale
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance as of December 31	14,019	$ 29,449
Additions	0	164
Proceeds from sale	(19,239)	(1,075)
Realized gains	10,244	356
Realized losses	0	(451)
Ending balance as of March 31	5,024	28,443
Held-for-sale | ATR Aircraft
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance as of December 31	7,728	23,158
Additions	0	164
Proceeds from sale	(2,769)	(1,075)
Realized gains	65	356
Realized losses	0	(451)
Ending balance as of March 31	5,024	22,152
Held-for-sale | Commercial Real Estate
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance as of December 31	6,291	6,291
Additions	0	0
Proceeds from sale	(16,470)	0
Realized gains	10,179	0
Realized losses	0	0
Ending balance as of March 31	$ 0	$ 6,291

Amazon Agreement (Details)

Amazon Agreement (Details) $ / shares in Units, $ in Thousands		3 Months Ended
	Oct. 20, 2022 USD ($) aircraft $ / shares shares	Mar. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares	Mar. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Noncurrent frequent flyer deferred revenue		$ 325,407	$ 318,369
Common stock, par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Amazon.com Services LLC
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Services agreement term	8 years
Customer extension term	2 years
Additional extension term	3 years
Number of aircraft, authorized for initial operation | aircraft	10
Noncurrent frequent flyer deferred revenue	$ 11,500
Air traffic revenue recognized		$ 0
Warrants issued (in shares) | shares	9,442,443	8,183,451		0
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Aggregate qualified payments	$ 1,800,000
Estimated pro rata contra revenue earned	$ 11,600
Amazon.com Services LLC | Warrant
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrants vested (in shares) | shares	1,258,992
Warrant shares, valued	$ 11,600
Amazon.com Services LLC | Tranche 1
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrants issued (in shares) | shares	6,294,962
Exercise price of warrants (in dollars per share) | $ / shares	$ 14.71	$ 9.19
Revenue over the vesting period		$ 57,900
Amazon.com Services LLC | Tranche 1 | Warrant
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrants vested (in shares) | shares	1,258,992
Warrant shares, valued	$ 11,600
Amazon.com Services LLC | Tranche 2
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrants issued (in shares) | shares	3,147,481
Exercise price of warrants (in dollars per share) | $ / shares		$ 5.09
Redemption of warrants trading days	30 days
Revenue over the vesting period		$ 16,000

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Narrative and Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	$ 612,603	$ 477,214
Operating Expenses:
Wages and benefits	241,933	203,099
Aircraft fuel, including taxes and delivery	197,625	150,982
Maintenance, materials and repairs	50,287	55,650
Aircraft and passenger servicing	42,532	33,815
Commissions and other selling	28,238	20,647
Aircraft rent	28,171	26,276
Other rentals and landing fees	38,720	34,611
Depreciation and amortization	32,667	33,755
Purchased services	35,072	30,687
Other	34,785	35,497
Total	730,030	625,019
Operating Loss	(117,427)	(147,805)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	0	0
Interest expense and amortization of debt discounts and issuance costs	(22,880)	(25,037)
Interest income	16,465	4,434
Capitalized interest	1,458	1,052
Losses on fuel derivatives	(5,065)	0
Other components of net periodic benefit cost	(1,494)	1,286
Gains (losses) on investments, net	697	(12,364)
Gains on foreign debt	2,260	11,762
Other, net	155	374
Total	(8,404)	(18,493)
Loss Before Income Taxes	(125,831)	(166,298)
Income tax benefit	(27,574)	(33,020)
Net Loss	(98,257)	(133,278)
Comprehensive Income (Loss)	(100,309)	(149,288)
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	(13,472)	(9,104)
Operating Expenses:
Wages and benefits	0	0
Aircraft fuel, including taxes and delivery	0	0
Maintenance, materials and repairs	0	0
Aircraft and passenger servicing	0	0
Commissions and other selling	(145)	(207)
Aircraft rent	0	0
Other rentals and landing fees	(19)	(29)
Depreciation and amortization	0	0
Purchased services	(66)	(66)
Other	(13,240)	(8,802)
Total	(13,470)	(9,104)
Operating Loss	(2)	0
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	101,526	140,443
Interest expense and amortization of debt discounts and issuance costs	740	740
Interest income	(740)	(740)
Capitalized interest	0	0
Losses on fuel derivatives	0
Other components of net periodic benefit cost	0	0
Gains (losses) on investments, net	0	0
Gains on foreign debt	0	0
Other, net	0	0
Total	101,526	140,443
Loss Before Income Taxes	101,524	140,443
Income tax benefit	0	0
Net Loss	101,524	140,443
Comprehensive Income (Loss)	103,579	156,454
Parent Issuer / Guarantor | Reportable legal entities
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	0	0
Operating Expenses:
Wages and benefits	0	0
Aircraft fuel, including taxes and delivery	0	0
Maintenance, materials and repairs	0	0
Aircraft and passenger servicing	0	0
Commissions and other selling	8	0
Aircraft rent	0	0
Other rentals and landing fees	0	0
Depreciation and amortization	0	0
Purchased services	119	43
Other	1,829	2,218
Total	1,956	2,261
Operating Loss	(1,956)	(2,261)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	(96,696)	(131,023)
Interest expense and amortization of debt discounts and issuance costs	0	0
Interest income	398	7
Capitalized interest	0	0
Losses on fuel derivatives	0
Other components of net periodic benefit cost	0	0
Gains (losses) on investments, net	0	0
Gains on foreign debt	0	0
Other, net	0	0
Total	(96,298)	(131,016)
Loss Before Income Taxes	(98,254)	(133,277)
Income tax benefit	0	0
Net Loss	(98,254)	(133,277)
Comprehensive Income (Loss)	(100,309)	(149,288)
Subsidiary Issuer / Guarantor | Reportable legal entities
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	611,800	476,591
Operating Expenses:
Wages and benefits	241,933	203,099
Aircraft fuel, including taxes and delivery	197,625	150,982
Maintenance, materials and repairs	50,318	55,490
Aircraft and passenger servicing	42,532	33,815
Commissions and other selling	28,153	20,624
Aircraft rent	28,171	26,276
Other rentals and landing fees	38,739	34,640
Depreciation and amortization	32,667	33,755
Purchased services	34,451	30,291
Other	55,564	41,839
Total	750,153	630,811
Operating Loss	(138,353)	(154,220)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	(4,830)	(9,420)
Interest expense and amortization of debt discounts and issuance costs	(5,147)	(7,324)
Interest income	15,542	4,425
Capitalized interest	1,458	1,052
Losses on fuel derivatives	(5,065)
Other components of net periodic benefit cost	(1,494)	1,286
Gains (losses) on investments, net	697	(12,364)
Gains on foreign debt	2,260	11,762
Other, net	155	374
Total	3,576	(10,209)
Loss Before Income Taxes	(134,777)	(164,429)
Income tax benefit	(27,574)	(33,020)
Net Loss	(107,203)	(131,409)
Comprehensive Income (Loss)	(109,255)	(147,419)
Non-Guarantor Subsidiaries | Reportable legal entities
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	14,275	9,727
Operating Expenses:
Wages and benefits	0	0
Aircraft fuel, including taxes and delivery	0	0
Maintenance, materials and repairs	(31)	160
Aircraft and passenger servicing	0	0
Commissions and other selling	222	230
Aircraft rent	0	0
Other rentals and landing fees	0	0
Depreciation and amortization	0	0
Purchased services	568	419
Other	(9,368)	242
Total	(8,609)	1,051
Operating Loss	22,884	8,676
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	0	0
Interest expense and amortization of debt discounts and issuance costs	(18,473)	(18,453)
Interest income	1,265	742
Capitalized interest	0	0
Losses on fuel derivatives	0
Other components of net periodic benefit cost	0	0
Gains (losses) on investments, net	0	0
Gains on foreign debt	0	0
Other, net	0	0
Total	(17,208)	(17,711)
Loss Before Income Taxes	5,676	(9,035)
Income tax benefit	0	0
Net Loss	5,676	(9,035)
Comprehensive Income (Loss)	$ 5,676	$ (9,035)

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 271,855	$ 229,122
Restricted cash	17,648	17,498
Short-term investments	1,111,082	1,147,193
Accounts receivable, net	99,880	113,862
Income taxes receivable	3,382	70,204
Spare parts and supplies, net	38,905	36,875
Prepaid expenses and other	83,021	63,553
Total	1,625,773	1,678,307
Property and equipment at cost	3,105,592	3,009,614
Less accumulated depreciation and amortization	(1,167,795)	(1,135,262)
Property and equipment, net	1,937,797	1,874,352
Assets held-for-sale	5,024	14,019
Operating lease right-of-use assets	439,228	459,128
Long-term prepayments and other	106,136	100,317
Goodwill and other intangible assets, net	13,500	13,500
Intercompany receivable	0	0
Investment in consolidated subsidiaries	0	0
Total Assets	4,127,458	4,139,623
Current Liabilities:
Accounts payable	202,864	196,009
Air traffic liability and current frequent flyer deferred revenue	746,467	590,796
Other accrued liabilities	186,911	182,036
Current maturities of long-term debt, less discount	46,176	47,836
Current maturities of finance lease obligations	24,819	25,789
Current maturities of operating leases	78,620	77,858
Total	1,285,857	1,120,324
Long-Term Debt, less discount	1,566,382	1,583,889
Intercompany payable	0	0
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	69,895	75,221
Noncurrent operating leases	328,370	347,726
Accumulated pension and other post-retirement benefit obligations	141,508	135,775
Other liabilities and deferred credits	74,588	94,654
Noncurrent frequent flyer deferred revenue	325,407	318,369
Deferred tax liabilities, net	102,131	130,400
Total	1,041,899	1,102,145
Shareholders’ equity	233,320	333,265	$ 420,252	$ 569,086
Total Liabilities and Shareholders’ Equity	4,127,458	4,139,623
Eliminations
Current Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Short-term investments	0	0
Accounts receivable, net	(20,202)	(18,244)
Income taxes receivable	0	0
Spare parts and supplies, net	0	0
Prepaid expenses and other	0	0
Total	(20,202)	(18,244)
Property and equipment at cost	0	0
Less accumulated depreciation and amortization	0	0
Property and equipment, net	0	0
Assets held-for-sale	0	0
Operating lease right-of-use assets	0	0
Long-term prepayments and other	(1,200,000)	(1,200,000)
Goodwill and other intangible assets, net	0	0
Intercompany receivable	466,313	(609,207)
Investment in consolidated subsidiaries	(790,647)	(710,634)
Total Assets	(1,544,536)	(2,538,085)
Current Liabilities:
Accounts payable	(13,750)	(12,532)
Air traffic liability and current frequent flyer deferred revenue	0	0
Other accrued liabilities	(6,452)	(5,712)
Current maturities of long-term debt, less discount	0	0
Current maturities of finance lease obligations	0	0
Current maturities of operating leases	0	0
Total	(20,202)	(18,244)
Long-Term Debt, less discount	(1,200,000)	(1,200,000)
Intercompany payable	283,853	(609,207)
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	0	0
Noncurrent operating leases	0	0
Accumulated pension and other post-retirement benefit obligations	0	0
Other liabilities and deferred credits	0	0
Noncurrent frequent flyer deferred revenue	0	0
Deferred tax liabilities, net	0	0
Total	0	0
Shareholders’ equity	(608,187)	(710,634)
Total Liabilities and Shareholders’ Equity	(1,544,536)	(2,538,085)
Parent Issuer / Guarantor | Reportable legal entities
Current Assets:
Cash and cash equivalents	27,571	28,620
Restricted cash	0	0
Short-term investments	0	0
Accounts receivable, net	1,269	0
Income taxes receivable	0	0
Spare parts and supplies, net	0	0
Prepaid expenses and other	0	0
Total	28,840	28,620
Property and equipment at cost	0	0
Less accumulated depreciation and amortization	0	0
Property and equipment, net	0	0
Assets held-for-sale	0	0
Operating lease right-of-use assets	0	0
Long-term prepayments and other	0	0
Goodwill and other intangible assets, net	0	0
Intercompany receivable	(421,091)	0
Investment in consolidated subsidiaries	807,451	767,831
Total Assets	415,200	796,451
Current Liabilities:
Accounts payable	1,282	630
Air traffic liability and current frequent flyer deferred revenue	0	0
Other accrued liabilities	0	0
Current maturities of long-term debt, less discount	0	0
Current maturities of finance lease obligations	0	0
Current maturities of operating leases	0	0
Total	1,282	630
Long-Term Debt, less discount	0	0
Intercompany payable	180,598	462,556
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	0	0
Noncurrent operating leases	0	0
Accumulated pension and other post-retirement benefit obligations	0	0
Other liabilities and deferred credits	0	0
Noncurrent frequent flyer deferred revenue	0	0
Deferred tax liabilities, net	0	0
Total	0	0
Shareholders’ equity	233,320	333,265
Total Liabilities and Shareholders’ Equity	415,200	796,451
Subsidiary Issuer / Guarantor | Reportable legal entities
Current Assets:
Cash and cash equivalents	213,220	151,357
Restricted cash	0	0
Short-term investments	1,111,082	1,147,193
Accounts receivable, net	86,400	106,321
Income taxes receivable	3,382	70,204
Spare parts and supplies, net	38,905	36,875
Prepaid expenses and other	83,021	63,524
Total	1,536,010	1,575,474
Property and equipment at cost	3,105,592	3,009,614
Less accumulated depreciation and amortization	(1,167,795)	(1,135,262)
Property and equipment, net	1,937,797	1,874,352
Assets held-for-sale	288	293
Operating lease right-of-use assets	439,228	459,128
Long-term prepayments and other	105,883	99,801
Goodwill and other intangible assets, net	0	0
Intercompany receivable	(45,222)	609,207
Investment in consolidated subsidiaries	(17,307)	(57,699)
Total Assets	3,956,677	4,560,556
Current Liabilities:
Accounts payable	214,779	207,294
Air traffic liability and current frequent flyer deferred revenue	736,874	579,872
Other accrued liabilities	178,454	172,190
Current maturities of long-term debt, less discount	46,176	47,836
Current maturities of finance lease obligations	24,819	25,789
Current maturities of operating leases	78,620	77,858
Total	1,279,722	1,110,839
Long-Term Debt, less discount	1,580,601	1,599,330
Intercompany payable	(585,836)	0
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	69,895	75,221
Noncurrent operating leases	328,370	347,726
Accumulated pension and other post-retirement benefit obligations	141,508	135,775
Other liabilities and deferred credits	74,588	94,481
Noncurrent frequent flyer deferred revenue	325,407	318,369
Deferred tax liabilities, net	102,131	130,400
Total	1,041,899	1,101,972
Shareholders’ equity	640,291	748,415
Total Liabilities and Shareholders’ Equity	3,956,677	4,560,556
Non-Guarantor Subsidiaries | Reportable legal entities
Current Assets:
Cash and cash equivalents	31,064	49,145
Restricted cash	17,648	17,498
Short-term investments	0	0
Accounts receivable, net	32,413	25,785
Income taxes receivable	0	0
Spare parts and supplies, net	0	0
Prepaid expenses and other	0	29
Total	81,125	92,457
Property and equipment at cost	0	0
Less accumulated depreciation and amortization	0	0
Property and equipment, net	0	0
Assets held-for-sale	4,736	13,726
Operating lease right-of-use assets	0	0
Long-term prepayments and other	1,200,253	1,200,516
Goodwill and other intangible assets, net	13,500	13,500
Intercompany receivable	0	0
Investment in consolidated subsidiaries	503	502
Total Assets	1,300,117	1,320,701
Current Liabilities:
Accounts payable	553	617
Air traffic liability and current frequent flyer deferred revenue	9,593	10,924
Other accrued liabilities	14,909	15,558
Current maturities of long-term debt, less discount	0	0
Current maturities of finance lease obligations	0	0
Current maturities of operating leases	0	0
Total	25,055	27,099
Long-Term Debt, less discount	1,185,781	1,184,559
Intercompany payable	121,385	146,651
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	0	0
Noncurrent operating leases	0	0
Accumulated pension and other post-retirement benefit obligations	0	0
Other liabilities and deferred credits	0	173
Noncurrent frequent flyer deferred revenue	0	0
Deferred tax liabilities, net	0	0
Total	0	173
Shareholders’ equity	(32,104)	(37,781)
Total Liabilities and Shareholders’ Equity	$ 1,300,117	$ 1,320,701

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	$ 118,291	$ 22,154
Cash Flows From Investing Activities:
Net payments to affiliates	0	0
Additions to property and equipment, including pre-delivery deposits	(106,215)	(9,066)
Proceeds from the disposition of aircraft and aircraft related equipment	9,563	1,124
Purchases of investments	(96,806)	(263,161)
Proceeds from sales and maturities of investments	144,069	307,780
Net cash provided by (used in) investing activities	(49,389)	36,677
Cash Flows From Financing Activities:
Repayments of long-term debt and finance lease obligations	(24,953)	(66,704)
Net payments from affiliates	0	0
Payment for taxes withheld for stock compensation	(1,066)	(1,490)
Net cash used in financing activities	(26,019)	(68,194)
Net increase (decrease) in cash and cash equivalents	42,883	(9,363)
Cash, cash equivalents, and restricted cash - Beginning of Period	246,620	507,828
Cash, cash equivalents, and restricted cash - End of Period	289,503	498,465
Eliminations
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	0	0
Cash Flows From Investing Activities:
Net payments to affiliates	(7,229)	(351)
Additions to property and equipment, including pre-delivery deposits	0	0
Proceeds from the disposition of aircraft and aircraft related equipment	0	0
Purchases of investments	0	0
Proceeds from sales and maturities of investments	0	0
Net cash provided by (used in) investing activities	(7,229)	(351)
Cash Flows From Financing Activities:
Repayments of long-term debt and finance lease obligations	0	0
Net payments from affiliates	7,229	351
Payment for taxes withheld for stock compensation	0	0
Net cash used in financing activities	7,229	351
Net increase (decrease) in cash and cash equivalents	0	0
Cash, cash equivalents, and restricted cash - Beginning of Period	0	0
Cash, cash equivalents, and restricted cash - End of Period	0	0
Parent Issuer / Guarantor | Reportable legal entities
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	(613)	(1,442)
Cash Flows From Investing Activities:
Net payments to affiliates	0	0
Additions to property and equipment, including pre-delivery deposits	0	0
Proceeds from the disposition of aircraft and aircraft related equipment	6,793	0
Purchases of investments	0	0
Proceeds from sales and maturities of investments	0	0
Net cash provided by (used in) investing activities	6,793	0
Cash Flows From Financing Activities:
Repayments of long-term debt and finance lease obligations	0	0
Net payments from affiliates	(7,229)	(351)
Payment for taxes withheld for stock compensation	0	0
Net cash used in financing activities	(7,229)	(351)
Net increase (decrease) in cash and cash equivalents	(1,049)	(1,793)
Cash, cash equivalents, and restricted cash - Beginning of Period	28,620	20,803
Cash, cash equivalents, and restricted cash - End of Period	27,571	19,010
Subsidiary Issuer / Guarantor | Reportable legal entities
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	122,379	28,203
Cash Flows From Investing Activities:
Net payments to affiliates	24,435	(886)
Additions to property and equipment, including pre-delivery deposits	(106,215)	(9,066)
Proceeds from the disposition of aircraft and aircraft related equipment	20	63
Purchases of investments	(96,806)	(263,161)
Proceeds from sales and maturities of investments	144,069	307,780
Net cash provided by (used in) investing activities	(34,497)	34,730
Cash Flows From Financing Activities:
Repayments of long-term debt and finance lease obligations	(24,953)	(66,704)
Net payments from affiliates	0	0
Payment for taxes withheld for stock compensation	(1,066)	(1,490)
Net cash used in financing activities	(26,019)	(68,194)
Net increase (decrease) in cash and cash equivalents	61,863	(5,261)
Cash, cash equivalents, and restricted cash - Beginning of Period	151,357	434,615
Cash, cash equivalents, and restricted cash - End of Period	213,220	429,354
Non-Guarantor Subsidiaries | Reportable legal entities
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	(3,475)	(4,607)
Cash Flows From Investing Activities:
Net payments to affiliates	(17,206)	1,237
Additions to property and equipment, including pre-delivery deposits	0	0
Proceeds from the disposition of aircraft and aircraft related equipment	2,750	1,061
Purchases of investments	0	0
Proceeds from sales and maturities of investments	0	0
Net cash provided by (used in) investing activities	(14,456)	2,298
Cash Flows From Financing Activities:
Repayments of long-term debt and finance lease obligations	0	0
Net payments from affiliates	0	0
Payment for taxes withheld for stock compensation	0	0
Net cash used in financing activities	0	0
Net increase (decrease) in cash and cash equivalents	(17,931)	(2,309)
Cash, cash equivalents, and restricted cash - Beginning of Period	66,643	52,410
Cash, cash equivalents, and restricted cash - End of Period	$ 48,712	$ 50,101