Hawaiian (HA) 10-Q 24 Apr 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 19, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,848,906
Entity Central Index Key	0001172222
Document Fiscal Year Focus	2024
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, 2024	Mar. 31, 2023
Operating Revenue:
Total	$ 645,567	$ 612,603
Operating Expenses:
Wages and benefits	261,935	241,933
Aircraft fuel, including taxes and delivery	188,778	197,625
Maintenance, materials and repairs	70,971	50,287
Aircraft and passenger servicing	45,424	42,532
Depreciation and amortization	32,967	32,667
Aircraft rent	29,706	28,171
Commissions and other selling	28,443	28,238
Other rentals and landing fees	43,127	38,720
Purchased services	38,475	35,072
Special items	8,482	0
Other	45,905	34,785
Total	794,213	730,030
Operating Loss	(148,646)	(117,427)
Nonoperating Income (Expense):
Interest expense and amortization of debt discounts and issuance costs	(24,069)	(22,880)
Interest income	10,021	16,465
Capitalized interest	3,134	1,458
Losses on fuel derivatives	(582)	(5,065)
Other components of net periodic benefit cost	(927)	(1,494)
Gains on investments, net	470	697
Gains on foreign debt	8,519	2,260
Other, net	(770)	155
Total	(4,204)	(8,404)
Loss Before Income Taxes	(152,850)	(125,831)
Income tax benefit	(15,285)	(27,574)
Net Loss	$ (137,565)	$ (98,257)
Net Loss Per Share
Basic (in dollars per share)	$ (2.65)	$ (1.91)
Diluted (in dollars per share)	$ (2.65)	$ (1.91)
Weighted Average Number of Common Stock Shares Outstanding:
Basic (in shares)	51,838	51,507
Diluted (in shares)	51,838	51,507
Passenger
Operating Revenue:
Total	$ 583,448	$ 548,526
Other
Operating Revenue:
Total	$ 62,119	$ 64,077

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Loss	$ (137,565)	$ (98,257)
Other comprehensive income (loss), net:
Net change related to employee benefit plans, net of tax expense and tax benefit	350	(7,078)
Net change in available-for-sale investments, net of tax expense	767	5,026
Total other comprehensive income (loss)	1,117	(2,052)
Total Comprehensive Loss	$ (136,448)	$ (100,309)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net change related to employee benefit plans, tax (expense) benefit	$ 114	$ (2,316)
Net change in available-for-sale investments, tax expense (benefit)	$ 250	$ 1,645

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 230,865	$ 153,273
Restricted cash	17,250	17,250
Short-term investments	666,432	755,224
Accounts receivable, net	99,117	105,858
Income taxes receivable	642	669
Spare parts and supplies, net	65,444	60,115
Prepaid expenses and other	80,304	78,551
Total	1,160,054	1,170,940
Property and equipment, less accumulated depreciation and amortization of $1,160,495 and $1,150,529 as of March 31, 2024 and December 31, 2023, respectively	2,104,442	2,013,616
Other Assets:
Assets held-for-sale	1,091	1,135
Operating lease right-of-use assets	393,769	413,237
Long-term prepayments and other	118,057	121,097
Intangible assets, net	13,500	13,500
Total Assets	3,790,913	3,733,525
Current Liabilities:
Accounts payable	214,848	199,223
Air traffic liability and current frequent flyer deferred revenue	757,855	633,345
Other accrued liabilities	165,430	175,591
Current maturities of long-term debt, less discount	75,132	43,857
Current maturities of finance lease obligations	8,791	10,053
Current maturities of operating leases	79,281	83,332
Total	1,301,337	1,145,401
Long-Term Debt	1,612,235	1,537,152
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	56,269	60,116
Noncurrent operating leases	283,836	303,119
Accumulated pension and other post-retirement benefit obligations	142,367	140,742
Other liabilities and deferred credits	78,499	77,154
Noncurrent frequent flyer deferred revenue	304,099	308,502
Deferred tax liability, net	52,492	65,914
Total	917,562	955,547
Commitments and Contingencies
Shareholders’ Equity:
Special preferred stock, $0.01 par value per share, three shares issued and outstanding as of March 31, 2024 and December 31, 2023	0	0
Common stock, $0.01 par value per share, 51,848,616 and 51,824,362 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	518	518
Capital in excess of par value	294,599	293,797
Accumulated loss	(257,303)	(119,738)
Accumulated other comprehensive loss, net	(78,035)	(79,152)
Total	(40,221)	95,425
Total Liabilities and Shareholders’ Equity	$ 3,790,913	$ 3,733,525

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 1,160,495	$ 1,150,529
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 issued (in shares)	51,848,616	51,824,362
Common stock, shares outstanding (in shares)	51,848,616	51,824,362

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 (Loss)	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2022	$ 333,265	$ 514	[1]	$ 0	[2]	$ 287,161	$ 140,756	$ (95,166)
Increase (Decrease) in Stockholders' Equity
Net Loss	(98,257)						(98,257)
Other comprehensive income (loss), net	(2,052)							(2,052)
Issuance of shares of common stock, net of shares withheld for taxes	(1,066)	1	[1]			(1,067)
Share-based compensation expense	1,430					1,430
Ending balance at Mar. 31, 2023	233,320	515	[1]	0	[2]	287,524	42,499	(97,218)
Beginning balance at Dec. 31, 2023	95,425	518	[3]	0	[4]	293,797	(119,738)	(79,152)
Increase (Decrease) in Stockholders' Equity
Net Loss	(137,565)						(137,565)
Other comprehensive income (loss), net	1,117							1,117
Issuance of shares of common stock, net of shares withheld for taxes	(200)	0	[3]			(200)
Amazon warrant vesting	131					131
Share-based compensation expense	871					871
Ending balance at Mar. 31, 2024	$ (40,221)	$ 518	[3]	$ 0	[4]	$ 294,599	$ (257,303)	$ (78,035)
[1]Common Stock—$0.01 par value; 118,000,000 authorized as of March 31, 2023 and December 31, 2022.[2]Special Preferred Stock—$0.01 par value; 2,000,000 shares authorized as of March 31, 2023 and December 31, 2022.[3]Common Stock—$0.01 par value; 118,000,000 authorized as of March 31, 2024 and December 31, 2023.[4]Special Preferred Stock—$0.01 par value; 2,000,000 shares authorized as of March 31, 2024 and December 31, 2023.

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Issuance of common stock related to stock awards (in shares)	24,254	131,858
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, 2024	Mar. 31, 2023
Statement of Cash Flows [Abstract]
Net cash provided by Operating Activities	$ 254	$ 118,291
Cash flows from Investing Activities:
Additions to property and equipment, including pre-delivery payments	(127,018)	(106,215)
Proceeds from the disposition of aircraft and aircraft related equipment	105	9,563
Purchases of investments	(15,824)	(96,806)
Proceeds from sales and maturities of investments	109,485	144,069
Net cash used in investing activities	(33,252)	(49,389)
Cash flows from Financing Activities:
Long-term borrowings	131,400	0
Repayments of long-term debt and finance lease obligations	(18,760)	(24,953)
Debt issuance costs and discounts	(1,849)	0
Payment for taxes withheld for stock compensation	(201)	(1,066)
Net cash provided by (used in) financing activities	110,590	(26,019)
Net increase (decrease) in cash and cash equivalents	77,592	42,883
Cash, cash equivalents, and restricted cash - Beginning of Period	170,523	246,620
Cash, cash equivalents, and restricted cash - End of Period	248,115	289,503
Non-Cash Transactions:
Right-of-use assets acquired under operating leases	$ 1,688	$ 0

General

General	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Business and Basis of Presentation Hawaiian Holdings, Inc. (Holdings) and its direct wholly owned subsidiary, Hawaiian Airlines, Inc. (Hawaiian), are incorporated in the State of Delaware. Holdings’ primary asset is its sole ownership of all issued and outstanding shares of common stock of Hawaiian. References to the "Company", "we", "us", and "our" in these Notes to Consolidated Financial Statements include both Holdings and Hawaiian unless the context requires otherwise. 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. 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, 2023. Unless otherwise noted, all amounts disclosed are stated before consideration of income taxes.

Merger Agreement with Alaska Ai

Merger Agreement with Alaska Air Group	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Merger Agreement with Alaska Air Group	Merger Agreement with Alaska Air Group On December 2, 2023, the Company entered into an Agreement and Plan of Merger (the Merger Agreement) with Alaska Air Group, Inc., a Delaware corporation (Alaska), and Marlin Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of Alaska (Merger Sub), pursuant to which, subject to satisfaction or waiver of conditions therein, Merger Sub will merge with and into the Company (the Merger), with the Company surviving as a wholly owned subsidiary of Alaska. At the effective time of the Merger (the Effective Time), each share of the Company's common stock, Series B Special Preferred Stock, Series C Special Preferred Stock, and Series D Special Preferred Stock issued and outstanding immediately prior to the Effective Time, subject to certain customary exceptions specified in the Merger Agreement, will be converted into the right to receive $18.00 per share, payable to the holder in cash, without interest. Completion of the Merger is subject to customary closing conditions, including approval by the Company's stockholders, which was obtained on February 16, 2024; performance by the parties in all material respects of all their obligations under the Merger Agreement; the receipt of required regulatory approvals; and the absence of an order or law preventing, materially restraining, or materially impairing the consummation of the Merger. On February 7, 2024, the Company and Alaska each received a request for additional information and documentary material (together, the Second Request) from the Department of Justice (the DOJ) in connection with the DOJ’s review of the Merger. On March 27, 2024, the Company and Alaska entered into a timing agreement with the DOJ pursuant to which we agreed, among other things, not to consummate the Merger before 90 days following the date on which both parties have certified substantial compliance with the Second Request unless we have received written notice from the DOJ prior to the end of such 90-day period that the DOJ has closed its investigation of the Merger. The Merger Agreement includes customary termination rights in favor of each party. In certain circumstances, the Company may be required to pay Alaska a termination fee of $39.6 million in connection with the termination of the Merger Agreement. The Merger is expected to close within 12 to 18 months of the date of the Merger Agreement. During the three months ended March 31, 2024 and 2023, the Company incurred $8.5 million and $0.0 million, respectively, of costs related to the Merger Agreement, which was recorded as a Special item in the Consolidated Statements of Operations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2024
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 consolidated statements of operations where net income is presented 2024 2023 (in thousands) Amortization of defined benefit plan items Actuarial loss $ 290 $ 450 Nonoperating income (expense), other, net Prior service cost 173 145 Nonoperating income (expense), other, net Total before tax 463 595 Tax benefit (114) (147) Total, net of tax $ 349 $ 448 Short-term investments Realized gain on sales of investments $ (79) $ (393) Gains (losses) on investments, net Realized loss on sales of investments 30 911 Gains (losses) on investments, net Total before tax (49) 518 Income tax expense 12 128 Total, net of tax $ (37) $ 646 Total reclassifications for the period $ 312 $ 1,094 A roll-forward of the amounts included in accumulated other comprehensive income (loss), net of taxes, for the three months ended March 31, 2024 and 2023 is as follows: Three months ended March 31, 2024 Defined Benefit Short-Term Investments Total (in thousands) Beginning balance $ (60,677) $ (18,475) $ (79,152) Other comprehensive income before reclassifications, net of tax 1 804 805 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 349 (37) 312 Net current-period other comprehensive income 350 767 1,117 Ending balance $ (60,327) $ (17,708) $ (78,035) Three months ended March 31, 2023 Defined Benefit Plan Items 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)

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2024
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 705,999 and 95,819 for the three months ended March 31, 2024 and 2023, respectively. Certain 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, 2024 and 2023, the unvested Amazon warrant shares excluded from antidilutive shares were 8,183,451 for both periods. Refer to Note 11 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, 2024 2023 (in thousands, except for per share data) Numerator: Net Loss $ (137,565) $ (98,257) Denominator: Weighted average common stock shares outstanding - Basic 51,838 51,507 Dilutive effect of share-based awards and warrants — — Weighted average common stock shares outstanding - Diluted 51,838 51,507 Net Loss Per Share Basic $ (2.65) $ (1.91) Diluted $ (2.65) $ (1.91)

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The 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 offers only one significant line of business (i.e., air transportation), management 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, 2024 2023 Geographic Information (in thousands) Domestic $ 492,410 $ 486,129 Pacific 153,157 126,474 Total operating revenue $ 645,567 $ 612,603 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, 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, 2024 2023 Passenger Revenue by Type (in thousands) Passenger revenue, excluding frequent flyer $ 539,622 $ 505,962 Frequent flyer revenue, transportation component 43,826 42,564 Passenger Revenue $ 583,448 $ 548,526 Other revenue (e.g., cargo and other miscellaneous) $ 33,547 $ 35,139 Frequent flyer revenue, marketing and brand component 28,572 28,938 Other Revenue $ 62,119 $ 64,077 As of March 31, 2024 and December 31, 2023, the Company's air traffic liability balance, as it relates to passenger tickets (excluding frequent flyer liability), was $539.1 million and $423.1 million, respectively, which generally represents revenue that is expected to be realized in future periods. During the three months ended March 31, 2024 and 2023, the amount of passenger ticket revenue recognized that was included in Air traffic liability as of the beginning of the respective period was $250.2 million and $294.5 million, respectively. Non-refundable tickets sold and credits issued generally expire 13 months from the date of issuance or scheduled flight, as applicable. 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, and forecasted trends, including weather or other events impacting customer travel. During the three months ended March 31, 2024 and 2023, the Company recognized advanced breakage of $17.4 million and $12.6 million, respectively. 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 (short-term) 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, 2024 December 31, 2023 (in thousands) Air traffic liability (current portion of frequent flyer revenue) $ 211,321 $ 201,418 Noncurrent frequent flyer deferred revenue 304,099 308,502 Total frequent flyer liability $ 515,420 $ 509,920 The table below presents a roll forward of Frequent flyer deferred revenue for the three months ended March 31, 2024 and 2023: 2024 2023 (in thousands) Total frequent flyer liability - beginning balance $ 509,920 $ 484,580 Miles awarded 50,860 54,502 Travel miles redeemed (Passenger Revenue) (43,826) (42,564) Non-travel miles redeemed (Other Revenue) (1,534) (1,226) Total frequent flyer liability - ending balance $ 515,420 $ 495,292

Short-Term Investments

Short-Term Investments	3 Months Ended
	Mar. 31, 2024
Short-Term Investments [Abstract]
Short-Term Investments	Short-Term Investments The following is a summary of short-term investments held as of March 31, 2024 and December 31, 2023: March 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Debt securities Corporate debt securities $ 160,488 $ 217 $ (11,617) $ 149,088 U.S. government and agency securities 309,856 37 (4,819) 305,074 Other fixed income securities 33,843 33 (5,261) 28,615 Asset-backed securities 29,659 100 (1,207) 28,552 Collateralized loan obligations 36,270 25 (800) 35,495 Bank notes 8,672 — (182) 8,490 Total debt securities 578,788 412 (23,886) 555,314 Derivatives 492 1,163 (148) 1,507 Equity securities 119,015 — (10,504) 108,511 Other investments measured at net asset value 1,000 100 — 1,100 Total short-term investments $ 699,295 $ 1,675 $ (34,538) $ 666,432 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Debt securities Corporate debt securities $ 217,777 $ 440 $ (10,717) $ 207,500 U.S. government and agency securities 305,169 168 (4,908) 300,429 Other fixed income securities 35,319 42 (6,847) 28,514 Asset-backed securities 24,298 69 (1,281) 23,086 Collateralized loan obligations 39,628 83 (1,335) 38,376 Bank notes 9,118 — (204) 8,914 Total debt securities 631,309 802 (25,292) 606,819 Derivatives 233 1,026 (745) 514 Equity securities 161,677 — (14,866) 146,811 Other investments measured at net asset value 1,000 80 — 1,080 Total short-term investments $ 794,219 $ 1,908 $ (40,903) $ 755,224 The following tables present fair values and gross unrealized losses by security type and length of time that individual debt 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, 2024 (in thousands) Debt securities Corporate debt securities $ 17,505 $ (938) $ 120,679 $ (10,679) $ 138,184 $ (11,617) U.S. government and agency securities 273,683 (3,482) 8,489 (1,337) 282,172 (4,819) Other fixed income securities 1,281 (23) 23,982 (5,238) 25,263 (5,261) Asset-backed securities 3,903 (43) 14,234 (1,164) 18,137 (1,207) Collateralized loan obligations 6,993 (129) 20,890 (671) 27,883 (800) Bank notes 7,350 (97) 1,139 (85) 8,489 (182) $ 310,715 $ (4,712) $ 189,413 $ (19,174) $ 500,128 $ (23,886) Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2023 (in thousands) Debt securities Corporate debt securities $ 9,784 $ (233) $ 154,607 $ (10,484) $ 164,391 $ (10,717) U.S. government and agency securities 82,930 (608) 193,400 (4,300) 276,330 (4,908) Other fixed income securities 1,867 (26) 21,933 (6,821) 23,800 (6,847) Asset-backed securities 2,225 (17) 14,881 (1,264) 17,106 (1,281) Collateralized loan obligations 5,032 (63) 29,445 (1,272) 34,477 (1,335) Bank notes 8,396 (164) 519 (40) 8,915 (204) $ 110,234 $ (1,111) $ 414,785 $ (24,181) $ 525,019 $ (25,292) As of March 31, 2024 and December 31, 2023, the Company's unrealized losses from debt securities were generated from 393 positions out of 495 positions and 394 positions out of 502 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, 2024 and December 31, 2023 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, 2024 were temporary in nature. The Company has evaluated these debt securities and did not recognize any significant credit losses as of March 31, 2024 and December 31, 2023. For the three months ended March 31, 2024 and 2023, the unrealized gains on equity securities, recorded in Gains on Investment, net, in Nonoperating income (expense) were $5.1 million and $0.9 million, respectively. Contractual maturities of debt securities as of March 31, 2024 are shown below: Under 1 Year 1 to 5 Years Over 5 Years Total (in thousands) Debt Securities Corporate debt $ 132 $ 66,935 $ 82,021 $ 149,088 U.S. government and agency debt 7,109 284,695 13,270 305,074 Other fixed income securities 425 14,410 13,780 28,615 Asset-backed securities 305 9,627 18,620 28,552 Collateralized loan obligations — — 35,495 35,495 Bank notes — 4,489 4,001 8,490 Total debt securities $ 7,971 $ 380,156 $ 167,187 $ 555,314 The Company classifies its investments as current assets as these securities are available for use in its current operation.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
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, 2024 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 139,427 $ 138,084 $ 1,343 $ — Restricted cash 17,250 17,250 — — Short-term investments Debt securities Corporate debt securities 149,088 — 144,526 4,562 U.S. government and agency securities 305,074 — 305,074 — Other fixed income securities 28,615 — 28,615 — Asset-backed securities 28,552 — 20,768 7,784 Collateralized loan obligations 35,495 — 35,029 466 Bank notes 8,490 — 1,692 6,798 Total debt securities 555,314 — 535,704 19,610 Derivatives 1,507 — 1,507 — Equity securities 108,511 107,623 888 — Other investments measured at net asset value 1,100 — — — Total short-term investments 666,432 107,623 538,099 19,610 Other Assets Fuel derivative contracts 3,189 — 3,189 — Assets held-for-sale 1,091 — — 1,091 Total assets measured at fair value $ 827,389 $ 262,957 $ 542,631 $ 20,701 Fair Value Measurements as of December 31, 2023 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 99,965 $ 99,279 $ 686 $ — Restricted cash 17,250 17,250 — — Short-term investments Debt securities Corporate debt securities 207,500 — 202,873 4,627 U.S. government and agency securities 300,429 — 300,429 — Other fixed income securities 28,514 — 28,514 — Asset-backed securities 23,086 — 15,172 7,914 Collateralized loan obligations 38,376 — 38,123 253 Bank notes 8,914 — 2,046 6,868 Total debt securities 606,819 — 587,157 19,662 Derivatives 514 — 514 — Equity securities 146,811 146,031 780 — Other investments measured at net asset value 1,080 — — — Total short-term investments 755,224 146,031 588,451 19,662 Other Assets Fuel derivative contracts 2,069 — 2,069 — Assets held-for-sale 1,135 — — 1,135 Total assets measured at fair value $ 875,643 $ 262,560 $ 591,206 $ 20,797 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, 2024, approximately $17.3 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, equity securities, and derivative instruments as further discussed in Note 8 , 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, 2024 is as follows: Short-term Investment Activity for the three months ended March 31, 2024 Asset-Backed Securities Bank Notes Collateralized Loan Obligations Corporate Debt Securities Total (in thousands) Beginning balance as of December 31, 2023 $ 7,914 $ 6,868 $ 253 $ 4,627 $ 19,662 Purchases — — 213 — 213 Sale of investments — — — (10) (10) Redemptions and paydowns (39) (72) — — (111) Amortization and accretion, net 29 — — (68) (39) Realized and unrealized gains (losses), net (120) 2 — 13 (105) Ending balance as of March 31, 2024 $ 7,784 $ 6,798 $ 466 $ 4,562 $ 19,610 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 Sale of investments — (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 NAV 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. 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 13 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, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) $ 1,687,367 $ 1,526,555 $ — $ — $ 1,526,555 $ 1,581,009 $ 1,406,721 $ — $ — $ 1,406,721 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, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Derivative Instruments	Financial Derivative Instruments The Company uses derivatives to manage risks associated with certain assets and liabilities arising from the potential adverse impact of fluctuations in global fuel prices. 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, Fuel derivative contracts 2024 2023 (in thousands) Losses realized at settlement $ (2,398) $ (1,513) Reversal of prior period unrealized amounts 4,335 2,639 Unrealized losses that will settle in future periods (2,519) (6,191) Losses on fuel derivatives recorded as Nonoperating Expense $ (582) $ (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, 2024 and December 31, 2023, the Company's derivative positions reflected a net asset position of $1.5 million and $0.5 million, respectively, within the portfolio. During the three months ended March 31, 2024 and 2023, the Company recognized a net realized and unrealized gain of $0.6 million and a net realized and unrealized loss of $0.1 million, respectively, through Nonoperating income (expense). The following table presents the gross fair value of asset and liability derivatives, all of which 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, 2024 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 93,114 gallons March 2025 $ 3,189 $ — $ 3,189 Foreign currency derivatives Short-term investments 37,707 Euro March 2025 $ 1,109 $ — $ 1,109 Interest rate contracts Short-term investments 47,217 US Dollars May 2028 $ 550 $ (152) $ 398 Derivative positions as of December 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 90,258 gallons December 2024 $ 2,069 $ — $ 2,069 Foreign currency derivatives Short-term investments 38,385 Euro March 2025 $ 543 $ (569) $ (26) Interest rate contracts Short-term investments 16,110 US Dollars May 2028 $ 797 $ (257) $ 540 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 $2.6 million as of March 31, 2024 and December 31, 2023, 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 no collateral w ith its counterparties as of March 31, 2024 and December 31, 2023, respectively. 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, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term debt, net of unamortized discounts and issuance costs, is outlined as follows: March 31, 2024 December 31, 2023 (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 $ 153,067 $ 162,953 Japanese Yen denominated financing, fixed interest rate of 1.05%, quarterly principal and interest payments, remaining balance due at maturity in May 2030 17,092 19,050 Japanese Yen denominated financing, fixed interest rate of 1.01%, semiannual principal and interest payments, remaining balance due at maturity in June 2030 15,278 16,394 Japanese Yen denominated financing, fixed interest rate of 0.65%, quarterly principal and interest payments, remaining balance due at maturity in March 2025 38,610 45,107 Japanese Yen denominated financing, fixed interest rate of 0.76%, semiannual principal and interest payments, remaining balance due at maturity in September 2031 40,462 46,225 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 Financing Lease, variable interest rate of SOFR plus a margin of 3.85%, quarterly principal and interest payments, remaining balance due at maturity in January 2034 131,400 — 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 (20,525) (20,703) Total Debt $ 1,687,367 $ 1,581,009 Less: Current maturities of long-term debt (75,132) (43,857) Long-Term Debt, less discount $ 1,612,235 $ 1,537,152 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 (as defined in the Revolving Credit Facility) 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, 2024, the Company had no outstanding borrowing under the Revolving Credit Facility. Financing Lease In February 2024, the Company entered into a Finance Lease Agreement for $131.4 million, collateralized by our first delivered Boeing 787-9 aircraft. The transaction did not meet the criteria of a sale under the applicable accounting framework and therefore the Company recorded the transaction as a financing liability. The financing has a term of ten years, maturing in January 2034. The financing has a variable interest rate based on SOFR plus a margin of 3.85%, with quarterly principal and interest payments. Schedule of Debt Maturities As of March 31, 2024, the expected maturities of debt, excluding debt issuance costs, for the remainder of 2024 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2024 $ 33,489 2025 64,422 2026 1,348,357 2027 21,708 2028 22,657 Thereafter 217,259 $ 1,707,892 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, 2024.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2024
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 2024 2023 (in thousands) Service cost $ 2,514 $ 1,629 Other cost: Interest cost 6,307 6,430 Expected return on plan assets (5,843) (5,531) Recognized net actuarial loss 463 595 Total other components of the net periodic benefit cost 927 1,494 Net periodic benefit cost $ 3,441 $ 3,123 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, 2024 and 2023, 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 2024.

Amazon Agreement

Amazon Agreement	3 Months Ended
	Mar. 31, 2024
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 as revenue is earned. Operations under the ATSA commenced on October 2, 2023. 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. The Second Tranche, which will not have an established exercise price until a future date, as noted above, was valued at approximately $27.6 million, or $8.77 per Warrant Share as of March 31, 2024. 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.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Commitments As of March 31, 2024, 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 Boeing 787-9 aircraft 11 8 Between 2024 and 2027 General Electric GEnx spare engines: Boeing 787-9 spare engines 3 1 Between 2024 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 Boeing 787-9 purchase agreement, pursuant to which (a) the Company agreed with Boeing to defer the delivery of the Boeing 787-9 aircraft and (b) agreed to exercise purchase options for an additional two Boeing 787-9 aircraft. In July 2023, the Company was notified by Boeing that its 2023 and 2024 Boeing 787-9 aircraft deliveries would be delayed by a couple of months. In February 2024, the Company took delivery of its first Boeing 787-9 aircraft under a finance lease. Refer to Note 9 of the Notes to Consolidated Finance Statements for additional discussion. This aircraft was placed into revenue service in April 2024. The Company took delivery of its second Boeing 787-9 aircraft in April 2024, which is anticipated to enter into revenue service in May 2024. To finance the aircraft, the Company entered into (a) a $115.0 million senior note maturing in April 2034 with a variable interest rate based on SOFR plus 350 basis points, and (b) a $15.0 million junior note maturing in April 2029 with a fixed interest rate of 8.8693%. Principal and interest payments on the notes are due quarterly. 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-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, 2024 and for the next five fiscal years and thereafter are detailed below: Aircraft and Aircraft Related Other Total Committed (in thousands) Remaining in 2024 $ 225,949 $ 20,204 $ 246,153 2025 419,557 18,328 437,885 2026 665,473 12,085 677,558 2027 252,872 8,270 261,142 2028 — 3,311 3,311 Thereafter — 58,285 58,285 $ 1,563,851 $ 120,483 $ 1,684,334 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, 2024 and December 31, 2023, 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, 2024
Discontinued Operations and Disposal Groups [Abstract]
Assets Held-For-Sale	Assets Held-For-Sale In 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 sold 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 $6.3 million as assets held for sale on the Consolidated Balance Sheets. As of March 31, 2024 and December 31, 2023, assets held for sale were $1.1 million for both periods. A roll-forward of the Assets held-for-sale activity for the three months ended March 31, 2024 and 2023 is as follows: Assets Held-For-Sale Activity for the three months ended March 31, 2024 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31, 2023 $ 1,135 $ — $ 1,135 Additions — — — Proceeds from sale (105) — (105) Realized gains 61 — 61 Realized losses — — — Ending balance as of March 31, 2024 $ 1,091 $ — $ 1,091 Assets Held-For-Sale Activity for the three months ended March 31, 2023 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31, 2022 $ 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, 2023 $ 5,024 $ — $ 5,024 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 October 2023, the Company completed the sale of its remaining ATR 72-200 aircraft. The Company anticipates completing the sale of remaining aircraft parts classified as held-for-sale in 2024, and will continue to monitor the asset group for potential impairment.

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2024
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 14 as Subsidiary Issuer / Guarantor) of pass-through certificates, Holdings (which is also referred to in this Note 14 as Parent Issuer / Guarantor) is fully and unconditionally guaranteeing the payment obligations of Hawaiian, which is a 100% owned subsidiary of Holdings, 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 Loss Three months ended March 31, 2024 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 645,591 $ 13,783 $ (13,807) $ 645,567 Operating Expenses: Wages and benefits — 261,935 — — 261,935 Aircraft fuel, including taxes and delivery — 188,778 — — 188,778 Maintenance, materials and repairs — 70,971 — — 70,971 Aircraft and passenger servicing — 45,424 — — 45,424 Commissions and other selling 10 28,490 32 (89) 28,443 Aircraft rent — 29,706 — — 29,706 Other rentals and landing fees — 43,127 — — 43,127 Depreciation and amortization — 32,967 — — 32,967 Purchased services 120 38,327 94 (66) 38,475 Special items — 8,482 — — 8,482 Other 2,349 56,571 637 (13,652) 45,905 Total 2,479 804,778 763 (13,807) 794,213 Operating Income (Loss) (2,479) (159,187) 13,020 — (148,646) Nonoperating Income (Expense): Undistributed net loss of subsidiaries (135,192) (4,472) — 139,664 — Interest expense and amortization of debt discounts and issuance costs — (6,314) (18,501) 746 (24,069) Interest income 109 9,447 1,211 (746) 10,021 Capitalized interest — 3,134 — — 3,134 Losses on fuel derivatives — (582) — — (582) Other components of net periodic pension cost — (927) — — (927) Gains on investments, net — 470 — — 470 Gains on foreign debt — 8,519 — — 8,519 Other, net — (770) — — (770) Total (135,083) 8,505 (17,290) 139,664 (4,204) Loss Before Income Taxes (137,562) (150,682) (4,270) 139,664 (152,850) Income tax benefit — (15,285) — — (15,285) Net Loss $ (137,562) $ (135,397) $ (4,270) $ 139,664 $ (137,565) Comprehensive Loss $ (136,448) $ (134,280) $ (4,270) $ 138,550 $ (136,448) 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 Depreciation and amortization — 32,667 — — 32,667 Other rentals and landing fees — 38,739 — (19) 38,720 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 Balance Sheets March 31, 2024 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current Assets: Cash and cash equivalents $ 8,817 $ 190,050 $ 31,998 $ — $ 230,865 Restricted cash — — 17,250 — 17,250 Short-term investments — 666,432 — — 666,432 Accounts receivable, net 1,269 93,977 27,687 (23,816) 99,117 Income taxes receivable — 642 — — 642 Spare parts and supplies, net — 65,444 — — 65,444 Prepaid expenses and other — 80,304 — — 80,304 Total 10,086 1,096,849 76,935 (23,816) 1,160,054 Property and equipment at cost — 3,264,937 — — 3,264,937 Less accumulated depreciation and amortization — (1,160,495) — — (1,160,495) Property and equipment, net — 2,104,442 — — 2,104,442 Assets held-for-sale — 224 867 — 1,091 Operating lease right-of-use assets — 393,769 — — 393,769 Long-term prepayments and other — 118,057 1,200,000 (1,200,000) 118,057 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable (713,153) (62,065) — 775,218 — Investment in consolidated subsidiaries 807,451 (17,310) 503 (790,644) — Total Assets $ 104,384 $ 3,633,966 $ 1,291,805 $ (1,239,242) $ 3,790,913 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities: Accounts payable $ 2,048 $ 226,522 $ 636 $ (14,358) $ 214,848 Air traffic liability and current frequent flyer deferred revenue — 749,261 8,594 — 757,855 Other accrued liabilities — 161,230 13,658 (9,458) 165,430 Current maturities of long-term debt, less discount — 75,132 — — 75,132 Current maturities of finance lease obligations — 8,791 — — 8,791 Current maturities of operating leases — 79,281 — — 79,281 Total 2,048 1,300,217 22,888 (23,816) 1,301,337 Long-Term Debt — 1,621,457 1,190,778 (1,200,000) 1,612,235 Intercompany payable 142,552 (581,251) 127,943 310,756 — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 56,269 — — 56,269 Noncurrent operating leases — 283,836 — — 283,836 Accumulated pension and other post-retirement benefit obligations — 142,367 — — 142,367 Other liabilities and deferred credits — 78,499 — — 78,499 Noncurrent frequent flyer deferred revenue — 304,099 — — 304,099 Deferred tax liabilities, net — 52,492 — — 52,492 Total — 917,562 — — 917,562 Shareholders’ equity (40,216) 375,981 (49,804) (326,182) (40,221) TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 104,384 $ 3,633,966 $ 1,291,805 $ (1,239,242) $ 3,790,913 Condensed Consolidating Balance Sheets December 31, 2023 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 8,707 $ 113,026 $ 31,540 $ — $ 153,273 Restricted cash — — 17,250 — 17,250 Short-term investments — 755,224 — — 755,224 Accounts receivable, net 1,269 101,655 26,261 (23,327) 105,858 Income taxes receivable, net — 669 — — 669 Spare parts and supplies, net — 60,115 — — 60,115 Prepaid expenses and other — 78,551 — — 78,551 Total 9,976 1,109,240 75,051 (23,327) 1,170,940 Property and equipment at cost — 3,164,145 — — 3,164,145 Less accumulated depreciation and amortization — (1,150,529) — — (1,150,529) Property and equipment, net — 2,013,616 — — 2,013,616 Assets held-for-sale — 262 873 — 1,135 Operating lease right-of-use assets — 413,237 — — 413,237 Long-term prepayments and other — 121,097 1,200,000 (1,200,000) 121,097 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable (577,961) (57,591) — 635,552 — Investment in consolidated subsidiaries 807,451 (17,309) 502 (790,644) — Total Assets $ 239,466 $ 3,582,552 $ 1,289,926 $ (1,378,419) $ 3,733,525 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 784 $ 212,464 $ 590 $ (14,615) $ 199,223 Air traffic liability and current frequent flyer deferred revenue — 623,324 10,021 — 633,345 Other accrued liabilities — 170,651 13,652 (8,712) 175,591 Current maturities of long-term debt, less discount — 43,857 — — 43,857 Current maturities of finance lease obligations — 10,053 — — 10,053 Current maturities of operating leases — 83,332 — — 83,332 Total 784 1,143,681 24,263 (23,327) 1,145,401 Long-Term Debt — 1,547,626 1,189,526 (1,200,000) 1,537,152 Intercompany payable 143,257 (573,873) 121,673 308,943 — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 60,116 — — 60,116 Noncurrent operating leases — 303,119 — — 303,119 Accumulated pension and other post-retirement benefit obligations — 140,742 — — 140,742 Other liabilities and deferred credits — 77,154 — — 77,154 Noncurrent frequent flyer deferred revenue — 308,502 — — 308,502 Deferred tax liabilities, net — 65,914 — — 65,914 Total — 955,547 — — 955,547 Shareholders’ equity 95,425 509,571 (45,536) (464,035) 95,425 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 239,466 $ 3,582,552 $ 1,289,926 $ (1,378,419) $ 3,733,525 Condensed Consolidating Statements of Cash Flows Three months ended March 31, 2024 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (797) $ 6,887 $ (5,836) $ — $ 254 Cash Flows From Investing Activities: Net payments to affiliates — (7,179) 6,272 907 — Additions to property and equipment, including pre-delivery deposits — (127,018) — — (127,018) Proceeds from the disposition of aircraft and aircraft related equipment — 83 22 — 105 Purchases of investments — (15,824) — — (15,824) Sales of investments — 109,485 — — 109,485 Net cash provided by (used in) investing activities — (40,453) 6,294 907 (33,252) Cash Flows From Financing Activities: Long-term borrowings — 131,400 — — 131,400 Repayments of long-term debt and finance lease obligations — (18,760) — — (18,760) Debt issuance costs and discount — (1,849) — — (1,849) Net payments from affiliates 907 — — (907) — Payment for taxes withheld for stock compensation — (201) — — (201) Net cash provided by financing activities 907 110,590 — (907) 110,590 Net increase in cash and cash equivalents 110 77,024 458 — 77,592 Cash, cash equivalents, & restricted cash - Beginning of Period 8,707 113,026 48,790 — 170,523 Cash, cash equivalents, & restricted cash - End of Period $ 8,817 $ 190,050 $ 49,248 $ — $ 248,115 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

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Loss	$ (137,565)	$ (98,257)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
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 consolidated statements of operations where net income is presented 2024 2023 (in thousands) Amortization of defined benefit plan items Actuarial loss $ 290 $ 450 Nonoperating income (expense), other, net Prior service cost 173 145 Nonoperating income (expense), other, net Total before tax 463 595 Tax benefit (114) (147) Total, net of tax $ 349 $ 448 Short-term investments Realized gain on sales of investments $ (79) $ (393) Gains (losses) on investments, net Realized loss on sales of investments 30 911 Gains (losses) on investments, net Total before tax (49) 518 Income tax expense 12 128 Total, net of tax $ (37) $ 646 Total reclassifications for the period $ 312 $ 1,094
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, 2024 and 2023 is as follows: Three months ended March 31, 2024 Defined Benefit Short-Term Investments Total (in thousands) Beginning balance $ (60,677) $ (18,475) $ (79,152) Other comprehensive income before reclassifications, net of tax 1 804 805 Amounts reclassified from accumulated other comprehensive income (loss), net of tax 349 (37) 312 Net current-period other comprehensive income 350 767 1,117 Ending balance $ (60,327) $ (17,708) $ (78,035) Three months ended March 31, 2023 Defined Benefit Plan Items 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)

Loss Per Share (Tables)

Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 (in thousands, except for per share data) Numerator: Net Loss $ (137,565) $ (98,257) Denominator: Weighted average common stock shares outstanding - Basic 51,838 51,507 Dilutive effect of share-based awards and warrants — — Weighted average common stock shares outstanding - Diluted 51,838 51,507 Net Loss Per Share Basic $ (2.65) $ (1.91) Diluted $ (2.65) $ (1.91)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 2023 Geographic Information (in thousands) Domestic $ 492,410 $ 486,129 Pacific 153,157 126,474 Total operating revenue $ 645,567 $ 612,603 Three Months Ended March 31, 2024 2023 Passenger Revenue by Type (in thousands) Passenger revenue, excluding frequent flyer $ 539,622 $ 505,962 Frequent flyer revenue, transportation component 43,826 42,564 Passenger Revenue $ 583,448 $ 548,526 Other revenue (e.g., cargo and other miscellaneous) $ 33,547 $ 35,139 Frequent flyer revenue, marketing and brand component 28,572 28,938 Other Revenue $ 62,119 $ 64,077
Schedule of Frequent Flyer Liability for Future Award Redemptions	The table below presents the Company's frequent flyer liability balance: March 31, 2024 December 31, 2023 (in thousands) Air traffic liability (current portion of frequent flyer revenue) $ 211,321 $ 201,418 Noncurrent frequent flyer deferred revenue 304,099 308,502 Total frequent flyer liability $ 515,420 $ 509,920
Schedule of Frequent Flyer Deferred Revenue	The table below presents a roll forward of Frequent flyer deferred revenue for the three months ended March 31, 2024 and 2023: 2024 2023 (in thousands) Total frequent flyer liability - beginning balance $ 509,920 $ 484,580 Miles awarded 50,860 54,502 Travel miles redeemed (Passenger Revenue) (43,826) (42,564) Non-travel miles redeemed (Other Revenue) (1,534) (1,226) Total frequent flyer liability - ending balance $ 515,420 $ 495,292

Short-Term Investments (Tables)

Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Short-Term Investments [Abstract]
Schedule of Short-Term Investments	The following is a summary of short-term investments held as of March 31, 2024 and December 31, 2023: March 31, 2024 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Debt securities Corporate debt securities $ 160,488 $ 217 $ (11,617) $ 149,088 U.S. government and agency securities 309,856 37 (4,819) 305,074 Other fixed income securities 33,843 33 (5,261) 28,615 Asset-backed securities 29,659 100 (1,207) 28,552 Collateralized loan obligations 36,270 25 (800) 35,495 Bank notes 8,672 — (182) 8,490 Total debt securities 578,788 412 (23,886) 555,314 Derivatives 492 1,163 (148) 1,507 Equity securities 119,015 — (10,504) 108,511 Other investments measured at net asset value 1,000 100 — 1,100 Total short-term investments $ 699,295 $ 1,675 $ (34,538) $ 666,432 December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (in thousands) Debt securities Corporate debt securities $ 217,777 $ 440 $ (10,717) $ 207,500 U.S. government and agency securities 305,169 168 (4,908) 300,429 Other fixed income securities 35,319 42 (6,847) 28,514 Asset-backed securities 24,298 69 (1,281) 23,086 Collateralized loan obligations 39,628 83 (1,335) 38,376 Bank notes 9,118 — (204) 8,914 Total debt securities 631,309 802 (25,292) 606,819 Derivatives 233 1,026 (745) 514 Equity securities 161,677 — (14,866) 146,811 Other investments measured at net asset value 1,000 80 — 1,080 Total short-term investments $ 794,219 $ 1,908 $ (40,903) $ 755,224 The following tables present fair values and gross unrealized losses by security type and length of time that individual debt 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, 2024 (in thousands) Debt securities Corporate debt securities $ 17,505 $ (938) $ 120,679 $ (10,679) $ 138,184 $ (11,617) U.S. government and agency securities 273,683 (3,482) 8,489 (1,337) 282,172 (4,819) Other fixed income securities 1,281 (23) 23,982 (5,238) 25,263 (5,261) Asset-backed securities 3,903 (43) 14,234 (1,164) 18,137 (1,207) Collateralized loan obligations 6,993 (129) 20,890 (671) 27,883 (800) Bank notes 7,350 (97) 1,139 (85) 8,489 (182) $ 310,715 $ (4,712) $ 189,413 $ (19,174) $ 500,128 $ (23,886) Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2023 (in thousands) Debt securities Corporate debt securities $ 9,784 $ (233) $ 154,607 $ (10,484) $ 164,391 $ (10,717) U.S. government and agency securities 82,930 (608) 193,400 (4,300) 276,330 (4,908) Other fixed income securities 1,867 (26) 21,933 (6,821) 23,800 (6,847) Asset-backed securities 2,225 (17) 14,881 (1,264) 17,106 (1,281) Collateralized loan obligations 5,032 (63) 29,445 (1,272) 34,477 (1,335) Bank notes 8,396 (164) 519 (40) 8,915 (204) $ 110,234 $ (1,111) $ 414,785 $ (24,181) $ 525,019 $ (25,292)
Schedule of Contractual Maturities of Short-Term Investments	Contractual maturities of debt securities as of March 31, 2024 are shown below: Under 1 Year 1 to 5 Years Over 5 Years Total (in thousands) Debt Securities Corporate debt $ 132 $ 66,935 $ 82,021 $ 149,088 U.S. government and agency debt 7,109 284,695 13,270 305,074 Other fixed income securities 425 14,410 13,780 28,615 Asset-backed securities 305 9,627 18,620 28,552 Collateralized loan obligations — — 35,495 35,495 Bank notes — 4,489 4,001 8,490 Total debt securities $ 7,971 $ 380,156 $ 167,187 $ 555,314

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 139,427 $ 138,084 $ 1,343 $ — Restricted cash 17,250 17,250 — — Short-term investments Debt securities Corporate debt securities 149,088 — 144,526 4,562 U.S. government and agency securities 305,074 — 305,074 — Other fixed income securities 28,615 — 28,615 — Asset-backed securities 28,552 — 20,768 7,784 Collateralized loan obligations 35,495 — 35,029 466 Bank notes 8,490 — 1,692 6,798 Total debt securities 555,314 — 535,704 19,610 Derivatives 1,507 — 1,507 — Equity securities 108,511 107,623 888 — Other investments measured at net asset value 1,100 — — — Total short-term investments 666,432 107,623 538,099 19,610 Other Assets Fuel derivative contracts 3,189 — 3,189 — Assets held-for-sale 1,091 — — 1,091 Total assets measured at fair value $ 827,389 $ 262,957 $ 542,631 $ 20,701 Fair Value Measurements as of December 31, 2023 Total Level 1 Level 2 Level 3 (in thousands) Cash equivalents $ 99,965 $ 99,279 $ 686 $ — Restricted cash 17,250 17,250 — — Short-term investments Debt securities Corporate debt securities 207,500 — 202,873 4,627 U.S. government and agency securities 300,429 — 300,429 — Other fixed income securities 28,514 — 28,514 — Asset-backed securities 23,086 — 15,172 7,914 Collateralized loan obligations 38,376 — 38,123 253 Bank notes 8,914 — 2,046 6,868 Total debt securities 606,819 — 587,157 19,662 Derivatives 514 — 514 — Equity securities 146,811 146,031 780 — Other investments measured at net asset value 1,080 — — — Total short-term investments 755,224 146,031 588,451 19,662 Other Assets Fuel derivative contracts 2,069 — 2,069 — Assets held-for-sale 1,135 — — 1,135 Total assets measured at fair value $ 875,643 $ 262,560 $ 591,206 $ 20,797
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, 2024 is as follows: Short-term Investment Activity for the three months ended March 31, 2024 Asset-Backed Securities Bank Notes Collateralized Loan Obligations Corporate Debt Securities Total (in thousands) Beginning balance as of December 31, 2023 $ 7,914 $ 6,868 $ 253 $ 4,627 $ 19,662 Purchases — — 213 — 213 Sale of investments — — — (10) (10) Redemptions and paydowns (39) (72) — — (111) Amortization and accretion, net 29 — — (68) (39) Realized and unrealized gains (losses), net (120) 2 — 13 (105) Ending balance as of March 31, 2024 $ 7,784 $ 6,798 $ 466 $ 4,562 $ 19,610 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 Sale of investments — (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, 2024 December 31, 2023 Carrying Fair Value Carrying Fair Value Amount Total Level 1 Level 2 Level 3 Amount Total Level 1 Level 2 Level 3 (in thousands) $ 1,687,367 $ 1,526,555 $ — $ — $ 1,526,555 $ 1,581,009 $ 1,406,721 $ — $ — $ 1,406,721

Financial Derivative Instrume_2

Financial Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
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, Fuel derivative contracts 2024 2023 (in thousands) Losses realized at settlement $ (2,398) $ (1,513) Reversal of prior period unrealized amounts 4,335 2,639 Unrealized losses that will settle in future periods (2,519) (6,191) Losses on fuel derivatives recorded as Nonoperating Expense $ (582) $ (5,065)
Schedule of Fair Value of the Asset and Liability Derivatives and Net Derivative Positions	The following table presents the gross fair value of asset and liability derivatives, all of which 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, 2024 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 93,114 gallons March 2025 $ 3,189 $ — $ 3,189 Foreign currency derivatives Short-term investments 37,707 Euro March 2025 $ 1,109 $ — $ 1,109 Interest rate contracts Short-term investments 47,217 US Dollars May 2028 $ 550 $ (152) $ 398 Derivative positions as of December 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 90,258 gallons December 2024 $ 2,069 $ — $ 2,069 Foreign currency derivatives Short-term investments 38,385 Euro March 2025 $ 543 $ (569) $ (26) Interest rate contracts Short-term investments 16,110 US Dollars May 2028 $ 797 $ (257) $ 540

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt, net of unamortized discounts and issuance costs, is outlined as follows: March 31, 2024 December 31, 2023 (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 $ 153,067 $ 162,953 Japanese Yen denominated financing, fixed interest rate of 1.05%, quarterly principal and interest payments, remaining balance due at maturity in May 2030 17,092 19,050 Japanese Yen denominated financing, fixed interest rate of 1.01%, semiannual principal and interest payments, remaining balance due at maturity in June 2030 15,278 16,394 Japanese Yen denominated financing, fixed interest rate of 0.65%, quarterly principal and interest payments, remaining balance due at maturity in March 2025 38,610 45,107 Japanese Yen denominated financing, fixed interest rate of 0.76%, semiannual principal and interest payments, remaining balance due at maturity in September 2031 40,462 46,225 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 Financing Lease, variable interest rate of SOFR plus a margin of 3.85%, quarterly principal and interest payments, remaining balance due at maturity in January 2034 131,400 — 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 (20,525) (20,703) Total Debt $ 1,687,367 $ 1,581,009 Less: Current maturities of long-term debt (75,132) (43,857) Long-Term Debt, less discount $ 1,612,235 $ 1,537,152
Schedule of Maturities of Long-Term Debt	As of March 31, 2024, the expected maturities of debt, excluding debt issuance costs, for the remainder of 2024 and the next four years, and thereafter, were as follows (in thousands): Remaining months in 2024 $ 33,489 2025 64,422 2026 1,348,357 2027 21,708 2028 22,657 Thereafter 217,259 $ 1,707,892

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 2023 (in thousands) Service cost $ 2,514 $ 1,629 Other cost: Interest cost 6,307 6,430 Expected return on plan assets (5,843) (5,531) Recognized net actuarial loss 463 595 Total other components of the net periodic benefit cost 927 1,494 Net periodic benefit cost $ 3,441 $ 3,123

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Firm Aircraft and Engine Orders and Purchase Rights	As of March 31, 2024, 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 Boeing 787-9 aircraft 11 8 Between 2024 and 2027 General Electric GEnx spare engines: Boeing 787-9 spare engines 3 1 Between 2024 and 2027
Schedule of Gross Committed Expenditures and Committed Payments	The gross committed expenditures and committed payments as of March 31, 2024 and for the next five fiscal years and thereafter are detailed below: Aircraft and Aircraft Related Other Total Committed (in thousands) Remaining in 2024 $ 225,949 $ 20,204 $ 246,153 2025 419,557 18,328 437,885 2026 665,473 12,085 677,558 2027 252,872 8,270 261,142 2028 — 3,311 3,311 Thereafter — 58,285 58,285 $ 1,563,851 $ 120,483 $ 1,684,334

Assets Held-For-Sale (Tables)

Assets Held-For-Sale (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 and 2023 is as follows: Assets Held-For-Sale Activity for the three months ended March 31, 2024 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31, 2023 $ 1,135 $ — $ 1,135 Additions — — — Proceeds from sale (105) — (105) Realized gains 61 — 61 Realized losses — — — Ending balance as of March 31, 2024 $ 1,091 $ — $ 1,091 Assets Held-For-Sale Activity for the three months ended March 31, 2023 ATR Aircraft Commercial Real Estate Total (in thousands) Beginning balance as of December 31, 2022 $ 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, 2023 $ 5,024 $ — $ 5,024

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2024
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Consolidating Statements of Operations and Comprehensive Loss	Condensed Consolidating Statements of Operations and Comprehensive Loss Three months ended March 31, 2024 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) Operating Revenue $ — $ 645,591 $ 13,783 $ (13,807) $ 645,567 Operating Expenses: Wages and benefits — 261,935 — — 261,935 Aircraft fuel, including taxes and delivery — 188,778 — — 188,778 Maintenance, materials and repairs — 70,971 — — 70,971 Aircraft and passenger servicing — 45,424 — — 45,424 Commissions and other selling 10 28,490 32 (89) 28,443 Aircraft rent — 29,706 — — 29,706 Other rentals and landing fees — 43,127 — — 43,127 Depreciation and amortization — 32,967 — — 32,967 Purchased services 120 38,327 94 (66) 38,475 Special items — 8,482 — — 8,482 Other 2,349 56,571 637 (13,652) 45,905 Total 2,479 804,778 763 (13,807) 794,213 Operating Income (Loss) (2,479) (159,187) 13,020 — (148,646) Nonoperating Income (Expense): Undistributed net loss of subsidiaries (135,192) (4,472) — 139,664 — Interest expense and amortization of debt discounts and issuance costs — (6,314) (18,501) 746 (24,069) Interest income 109 9,447 1,211 (746) 10,021 Capitalized interest — 3,134 — — 3,134 Losses on fuel derivatives — (582) — — (582) Other components of net periodic pension cost — (927) — — (927) Gains on investments, net — 470 — — 470 Gains on foreign debt — 8,519 — — 8,519 Other, net — (770) — — (770) Total (135,083) 8,505 (17,290) 139,664 (4,204) Loss Before Income Taxes (137,562) (150,682) (4,270) 139,664 (152,850) Income tax benefit — (15,285) — — (15,285) Net Loss $ (137,562) $ (135,397) $ (4,270) $ 139,664 $ (137,565) Comprehensive Loss $ (136,448) $ (134,280) $ (4,270) $ 138,550 $ (136,448) 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 Depreciation and amortization — 32,667 — — 32,667 Other rentals and landing fees — 38,739 — (19) 38,720 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)
Schedule of Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets March 31, 2024 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current Assets: Cash and cash equivalents $ 8,817 $ 190,050 $ 31,998 $ — $ 230,865 Restricted cash — — 17,250 — 17,250 Short-term investments — 666,432 — — 666,432 Accounts receivable, net 1,269 93,977 27,687 (23,816) 99,117 Income taxes receivable — 642 — — 642 Spare parts and supplies, net — 65,444 — — 65,444 Prepaid expenses and other — 80,304 — — 80,304 Total 10,086 1,096,849 76,935 (23,816) 1,160,054 Property and equipment at cost — 3,264,937 — — 3,264,937 Less accumulated depreciation and amortization — (1,160,495) — — (1,160,495) Property and equipment, net — 2,104,442 — — 2,104,442 Assets held-for-sale — 224 867 — 1,091 Operating lease right-of-use assets — 393,769 — — 393,769 Long-term prepayments and other — 118,057 1,200,000 (1,200,000) 118,057 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable (713,153) (62,065) — 775,218 — Investment in consolidated subsidiaries 807,451 (17,310) 503 (790,644) — Total Assets $ 104,384 $ 3,633,966 $ 1,291,805 $ (1,239,242) $ 3,790,913 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities: Accounts payable $ 2,048 $ 226,522 $ 636 $ (14,358) $ 214,848 Air traffic liability and current frequent flyer deferred revenue — 749,261 8,594 — 757,855 Other accrued liabilities — 161,230 13,658 (9,458) 165,430 Current maturities of long-term debt, less discount — 75,132 — — 75,132 Current maturities of finance lease obligations — 8,791 — — 8,791 Current maturities of operating leases — 79,281 — — 79,281 Total 2,048 1,300,217 22,888 (23,816) 1,301,337 Long-Term Debt — 1,621,457 1,190,778 (1,200,000) 1,612,235 Intercompany payable 142,552 (581,251) 127,943 310,756 — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 56,269 — — 56,269 Noncurrent operating leases — 283,836 — — 283,836 Accumulated pension and other post-retirement benefit obligations — 142,367 — — 142,367 Other liabilities and deferred credits — 78,499 — — 78,499 Noncurrent frequent flyer deferred revenue — 304,099 — — 304,099 Deferred tax liabilities, net — 52,492 — — 52,492 Total — 917,562 — — 917,562 Shareholders’ equity (40,216) 375,981 (49,804) (326,182) (40,221) TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 104,384 $ 3,633,966 $ 1,291,805 $ (1,239,242) $ 3,790,913 Condensed Consolidating Balance Sheets December 31, 2023 Parent Issuer / Subsidiary Non-Guarantor Eliminations Consolidated (in thousands) ASSETS Current assets: Cash and cash equivalents $ 8,707 $ 113,026 $ 31,540 $ — $ 153,273 Restricted cash — — 17,250 — 17,250 Short-term investments — 755,224 — — 755,224 Accounts receivable, net 1,269 101,655 26,261 (23,327) 105,858 Income taxes receivable, net — 669 — — 669 Spare parts and supplies, net — 60,115 — — 60,115 Prepaid expenses and other — 78,551 — — 78,551 Total 9,976 1,109,240 75,051 (23,327) 1,170,940 Property and equipment at cost — 3,164,145 — — 3,164,145 Less accumulated depreciation and amortization — (1,150,529) — — (1,150,529) Property and equipment, net — 2,013,616 — — 2,013,616 Assets held-for-sale — 262 873 — 1,135 Operating lease right-of-use assets — 413,237 — — 413,237 Long-term prepayments and other — 121,097 1,200,000 (1,200,000) 121,097 Goodwill and other intangible assets, net — — 13,500 — 13,500 Intercompany receivable (577,961) (57,591) — 635,552 — Investment in consolidated subsidiaries 807,451 (17,309) 502 (790,644) — Total Assets $ 239,466 $ 3,582,552 $ 1,289,926 $ (1,378,419) $ 3,733,525 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 784 $ 212,464 $ 590 $ (14,615) $ 199,223 Air traffic liability and current frequent flyer deferred revenue — 623,324 10,021 — 633,345 Other accrued liabilities — 170,651 13,652 (8,712) 175,591 Current maturities of long-term debt, less discount — 43,857 — — 43,857 Current maturities of finance lease obligations — 10,053 — — 10,053 Current maturities of operating leases — 83,332 — — 83,332 Total 784 1,143,681 24,263 (23,327) 1,145,401 Long-Term Debt — 1,547,626 1,189,526 (1,200,000) 1,537,152 Intercompany payable 143,257 (573,873) 121,673 308,943 — Other Liabilities and Deferred Credits: Noncurrent finance lease obligations — 60,116 — — 60,116 Noncurrent operating leases — 303,119 — — 303,119 Accumulated pension and other post-retirement benefit obligations — 140,742 — — 140,742 Other liabilities and deferred credits — 77,154 — — 77,154 Noncurrent frequent flyer deferred revenue — 308,502 — — 308,502 Deferred tax liabilities, net — 65,914 — — 65,914 Total — 955,547 — — 955,547 Shareholders’ equity 95,425 509,571 (45,536) (464,035) 95,425 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 239,466 $ 3,582,552 $ 1,289,926 $ (1,378,419) $ 3,733,525
Schedule of Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows Three months ended March 31, 2024 Parent Issuer / Subsidiary Non- Eliminations Consolidated (in thousands) Net Cash Provided By (Used In) Operating Activities $ (797) $ 6,887 $ (5,836) $ — $ 254 Cash Flows From Investing Activities: Net payments to affiliates — (7,179) 6,272 907 — Additions to property and equipment, including pre-delivery deposits — (127,018) — — (127,018) Proceeds from the disposition of aircraft and aircraft related equipment — 83 22 — 105 Purchases of investments — (15,824) — — (15,824) Sales of investments — 109,485 — — 109,485 Net cash provided by (used in) investing activities — (40,453) 6,294 907 (33,252) Cash Flows From Financing Activities: Long-term borrowings — 131,400 — — 131,400 Repayments of long-term debt and finance lease obligations — (18,760) — — (18,760) Debt issuance costs and discount — (1,849) — — (1,849) Net payments from affiliates 907 — — (907) — Payment for taxes withheld for stock compensation — (201) — — (201) Net cash provided by financing activities 907 110,590 — (907) 110,590 Net increase in cash and cash equivalents 110 77,024 458 — 77,592 Cash, cash equivalents, & restricted cash - Beginning of Period 8,707 113,026 48,790 — 170,523 Cash, cash equivalents, & restricted cash - End of Period $ 8,817 $ 190,050 $ 49,248 $ — $ 248,115 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

Merger Agreement with Alaska _2

Merger Agreement with Alaska Air Group (Details) - Alaska Air Group - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Dec. 02, 2023	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share)	$ 18
Termination fee	$ 39.6
Acquisition related costs		$ 8.5	$ 0

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, 2024	Mar. 31, 2023
Amounts reclassified from AOCI
Nonoperating income (expense), other, net	$ 770	$ (155)
Income tax expense	(15,285)	(27,574)
Total, net of tax	137,565	98,257
Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Total, net of tax	312	1,094
Actuarial loss | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Nonoperating income (expense), other, net	290	450
Prior service cost | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Nonoperating income (expense), other, net	173	145
Amortization of defined benefit plan items | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Total before tax	463	595
Income tax expense	(114)	(147)
Total, net of tax	349	448
Short-term investments | Amount reclassified from accumulated other comprehensive income (loss)
Amounts reclassified from AOCI
Realized gain on sales of investments	(79)	(393)
Realized loss on sales of investments	30	911
Total before tax	(49)	518
Income tax expense	12	128
Total, net of tax	$ (37)	$ 646

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, 2024	Mar. 31, 2023
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	$ 95,425	$ 333,265
Other comprehensive income before reclassifications, net of tax	805	(3,146)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	312	1,094
Total other comprehensive income (loss)	1,117	(2,052)
Ending balance	(40,221)	233,320
Defined Benefit Plan Items
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(60,677)	(59,439)
Other comprehensive income before reclassifications, net of tax	1	(7,526)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	349	448
Total other comprehensive income (loss)	350	(7,078)
Ending balance	(60,327)	(66,517)
Short-Term Investments
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(18,475)	(35,727)
Other comprehensive income before reclassifications, net of tax	804	4,380
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(37)	646
Total other comprehensive income (loss)	767	5,026
Ending balance	(17,708)	(30,701)
Total
Rollforward of Accumulated other comprehensive income (loss)
Beginning balance	(79,152)	(95,166)
Total other comprehensive income (loss)	1,117	(2,052)
Ending balance	$ (78,035)	$ (97,218)

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, 2024	Mar. 31, 2023	Oct. 20, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive shares excluded (in shares)	705,999	95,819
Numerator:
Net Loss	$ (137,565)	$ (98,257)
Denominator:
Weighted average common stock shares outstanding - basic (in shares)	51,838,000	51,507,000
Dilutive effect of share-based awards and warrants (in shares)	0	0
Weighted average common stock shares outstanding - diluted (in shares)	51,838,000	51,507,000
Net Loss Per Share
Basic (in dollars per share)	$ (2.65)	$ (1.91)
Diluted (in dollars per share)	$ (2.65)	$ (1.91)
Amazon.com Services LLC
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants issued (in shares)	8,183,451	8,183,451	9,442,443

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) segment business	Mar. 31, 2023 USD ($)	Dec. 31, 2023 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
Passenger revenue, excluding frequent flyer
Disaggregation of Revenue [Line Items]
Air traffic liability	$ 539.1		$ 423.1
Air traffic revenue recognized	250.2	$ 294.5
Passenger revenue, excluding frequent flyer | Advanced Ticket Breakage
Disaggregation of Revenue [Line Items]
Air traffic revenue recognized	$ 17.4	$ 12.6

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation Of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Operating revenue	$ 645,567	$ 612,603
Passenger revenue, excluding frequent flyer
Disaggregation of Revenue [Line Items]
Operating revenue	539,622	505,962
Frequent flyer revenue, transportation component
Disaggregation of Revenue [Line Items]
Operating revenue	43,826	42,564
Passenger Revenue
Disaggregation of Revenue [Line Items]
Operating revenue	583,448	548,526
Other revenue (e.g., cargo and other miscellaneous)
Disaggregation of Revenue [Line Items]
Operating revenue	33,547	35,139
Frequent flyer revenue, marketing and brand component
Disaggregation of Revenue [Line Items]
Operating revenue	28,572	28,938
Other Revenue
Disaggregation of Revenue [Line Items]
Operating revenue	62,119	64,077
Domestic
Disaggregation of Revenue [Line Items]
Operating revenue	492,410	486,129
Pacific
Disaggregation of Revenue [Line Items]
Operating revenue	$ 153,157	$ 126,474

Revenue Recognition - Frequent

Revenue Recognition - Frequent Flyer Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Air traffic liability (current portion of frequent flyer revenue)	$ 757,855	$ 633,345
Noncurrent frequent flyer deferred revenue	304,099	308,502
Frequent flyer revenue
Disaggregation of Revenue [Line Items]
Air traffic liability (current portion of frequent flyer revenue)	211,321	201,418
Noncurrent frequent flyer deferred revenue	304,099	308,502
Total frequent flyer liability	$ 515,420	$ 509,920	$ 495,292	$ 484,580

Revenue Recognition - Rollforwa

Revenue Recognition - Rollforward of Frequent Flyer Deferred Revenue (Details) - Frequent flyer revenue - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Deferred Revenue [Roll Forward]
Total Frequent flyer liability - beginning balance	$ 509,920	$ 484,580
Miles awarded	50,860	54,502
Travel miles redeemed (Passenger Revenue)	(43,826)	(42,564)
Non-travel miles redeemed (Other Revenue)	(1,534)	(1,226)
Total Frequent flyer liability - ending balance	$ 515,420	$ 495,292

Short-Term Investments - Schedu

Short-Term Investments - Schedule of Short-Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Amortized Cost	$ 699,295	$ 794,219
Gross Unrealized Gains	1,675	1,908
Gross Unrealized Losses	(34,538)	(40,903)
Fair Value	666,432	755,224
Fair value, less than 12 months	310,715	110,234
Unrealized losses, less than 12 months	(4,712)	(1,111)
Fair value, 12 months or greater	189,413	414,785
Unrealized losses, 12 months or greater	(19,174)	(24,181)
Fair Value	500,128	525,019
Unrealized Losses	(23,886)	(25,292)
Contractual Maturities
Total	666,432	755,224
Debt securities
Marketable Securities [Line Items]
Amortized Cost	578,788	631,309
Gross Unrealized Gains	412	802
Gross Unrealized Losses	(23,886)	(25,292)
Fair Value	555,314	606,819
Contractual Maturities
Under 1 Year	7,971
1 to 5 Years	380,156
Over 5 Years	167,187
Total	555,314	606,819
Corporate debt securities
Marketable Securities [Line Items]
Amortized Cost	160,488	217,777
Gross Unrealized Gains	217	440
Gross Unrealized Losses	(11,617)	(10,717)
Fair Value	149,088	207,500
Fair value, less than 12 months	17,505	9,784
Unrealized losses, less than 12 months	(938)	(233)
Fair value, 12 months or greater	120,679	154,607
Unrealized losses, 12 months or greater	(10,679)	(10,484)
Fair Value	138,184	164,391
Unrealized Losses	(11,617)	(10,717)
Contractual Maturities
Under 1 Year	132
1 to 5 Years	66,935
Over 5 Years	82,021
Total	149,088	207,500
U.S. government and agency securities
Marketable Securities [Line Items]
Amortized Cost	309,856	305,169
Gross Unrealized Gains	37	168
Gross Unrealized Losses	(4,819)	(4,908)
Fair Value	305,074	300,429
Fair value, less than 12 months	273,683	82,930
Unrealized losses, less than 12 months	(3,482)	(608)
Fair value, 12 months or greater	8,489	193,400
Unrealized losses, 12 months or greater	(1,337)	(4,300)
Fair Value	282,172	276,330
Unrealized Losses	(4,819)	(4,908)
Contractual Maturities
Under 1 Year	7,109
1 to 5 Years	284,695
Over 5 Years	13,270
Total	305,074	300,429
Other fixed income securities
Marketable Securities [Line Items]
Amortized Cost	33,843	35,319
Gross Unrealized Gains	33	42
Gross Unrealized Losses	(5,261)	(6,847)
Fair Value	28,615	28,514
Fair value, less than 12 months	1,281	1,867
Unrealized losses, less than 12 months	(23)	(26)
Fair value, 12 months or greater	23,982	21,933
Unrealized losses, 12 months or greater	(5,238)	(6,821)
Fair Value	25,263	23,800
Unrealized Losses	(5,261)	(6,847)
Contractual Maturities
Under 1 Year	425
1 to 5 Years	14,410
Over 5 Years	13,780
Total	28,615	28,514
Asset-backed securities
Marketable Securities [Line Items]
Amortized Cost	29,659	24,298
Gross Unrealized Gains	100	69
Gross Unrealized Losses	(1,207)	(1,281)
Fair Value	28,552	23,086
Fair value, less than 12 months	3,903	2,225
Unrealized losses, less than 12 months	(43)	(17)
Fair value, 12 months or greater	14,234	14,881
Unrealized losses, 12 months or greater	(1,164)	(1,264)
Fair Value	18,137	17,106
Unrealized Losses	(1,207)	(1,281)
Contractual Maturities
Under 1 Year	305
1 to 5 Years	9,627
Over 5 Years	18,620
Total	28,552	23,086
Collateralized loan obligations
Marketable Securities [Line Items]
Amortized Cost	36,270	39,628
Gross Unrealized Gains	25	83
Gross Unrealized Losses	(800)	(1,335)
Fair Value	35,495	38,376
Fair value, less than 12 months	6,993	5,032
Unrealized losses, less than 12 months	(129)	(63)
Fair value, 12 months or greater	20,890	29,445
Unrealized losses, 12 months or greater	(671)	(1,272)
Fair Value	27,883	34,477
Unrealized Losses	(800)	(1,335)
Contractual Maturities
Under 1 Year	0
1 to 5 Years	0
Over 5 Years	35,495
Total	35,495	38,376
Bank notes
Marketable Securities [Line Items]
Amortized Cost	8,672	9,118
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(182)	(204)
Fair Value	8,490	8,914
Fair value, less than 12 months	7,350	8,396
Unrealized losses, less than 12 months	(97)	(164)
Fair value, 12 months or greater	1,139	519
Unrealized losses, 12 months or greater	(85)	(40)
Fair Value	8,489	8,915
Unrealized Losses	(182)	(204)
Contractual Maturities
Under 1 Year	0
1 to 5 Years	4,489
Over 5 Years	4,001
Total	8,490	8,914
Derivatives
Marketable Securities [Line Items]
Amortized Cost	492	233
Gross Unrealized Gains	1,163	1,026
Gross Unrealized Losses	(148)	(745)
Fair Value	1,507	514
Contractual Maturities
Total	1,507	514
Equity securities
Marketable Securities [Line Items]
Amortized Cost	119,015	161,677
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(10,504)	(14,866)
Fair Value	108,511	146,811
Contractual Maturities
Total	108,511	146,811
Other investments measured at net asset value
Marketable Securities [Line Items]
Amortized Cost	1,000	1,000
Gross Unrealized Gains	100	80
Gross Unrealized Losses	0	0
Fair Value	1,100	1,080
Contractual Maturities
Total	$ 1,100	$ 1,080

Short-Term Investments - Narrat

Short-Term Investments - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) position	Mar. 31, 2023 USD ($)	Dec. 31, 2023 position
Short-Term Investments [Abstract]
Number of unrealized losses from debt and equity securities generated	393		394
Number of unrealized losses from debt and equity securities	495		502
Unrealized gain (loss) on equity securities | $	$ 5.1	$ 0.9

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, 2024	Dec. 31, 2023
Fair Value Measurements
Restricted cash	$ 17,250	$ 17,250
Short-term investments	666,432	755,224
Recurring basis
Fair Value Measurements
Cash equivalents	139,427	99,965
Restricted cash	17,250	17,250
Short-term investments	666,432	755,224
Equity securities	108,511	146,811
Other investments measured at net asset value	1,100	1,080
Assets held-for-sale	1,091	1,135
Total assets measured at fair value	827,389	875,643
Recurring basis | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	3,189	2,069
Recurring basis | Level 1
Fair Value Measurements
Cash equivalents	138,084	99,279
Restricted cash	17,250	17,250
Short-term investments	107,623	146,031
Equity securities	107,623	146,031
Other investments measured at net asset value	0	0
Assets held-for-sale	0	0
Total assets measured at fair value	262,957	262,560
Recurring basis | Level 1 | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	0	0
Recurring basis | Level 2
Fair Value Measurements
Cash equivalents	1,343	686
Restricted cash	0	0
Short-term investments	538,099	588,451
Equity securities	888	780
Other investments measured at net asset value	0	0
Assets held-for-sale	0	0
Total assets measured at fair value	542,631	591,206
Recurring basis | Level 2 | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	3,189	2,069
Recurring basis | Level 3
Fair Value Measurements
Cash equivalents	0	0
Restricted cash	0	0
Short-term investments	19,610	19,662
Equity securities	0	0
Other investments measured at net asset value	0	0
Assets held-for-sale	1,091	1,135
Total assets measured at fair value	20,701	20,797
Recurring basis | Level 3 | Fuel derivative contracts
Fair Value Measurements
Fuel derivative contracts	0	0
Recurring basis | Debt securities
Fair Value Measurements
Short-term investments	555,314	606,819
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	535,704	587,157
Recurring basis | Debt securities | Level 3
Fair Value Measurements
Short-term investments	19,610	19,662
Recurring basis | Corporate debt securities
Fair Value Measurements
Short-term investments	149,088	207,500
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	144,526	202,873
Recurring basis | Corporate debt securities | Level 3
Fair Value Measurements
Short-term investments	4,562	4,627
Recurring basis | U.S. government and agency securities
Fair Value Measurements
Short-term investments	305,074	300,429
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	305,074	300,429
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	28,615	28,514
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	28,615	28,514
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	28,552	23,086
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	20,768	15,172
Recurring basis | Asset-backed securities | Level 3
Fair Value Measurements
Short-term investments	7,784	7,914
Recurring basis | Collateralized loan obligations
Fair Value Measurements
Short-term investments	35,495	38,376
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	35,029	38,123
Recurring basis | Collateralized loan obligations | Level 3
Fair Value Measurements
Short-term investments	466	253
Recurring basis | Bank notes
Fair Value Measurements
Short-term investments	8,490	8,914
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	1,692	2,046
Recurring basis | Bank notes | Level 3
Fair Value Measurements
Short-term investments	6,798	6,868
Recurring basis | Derivatives
Fair Value Measurements
Short-term investments	1,507	514
Recurring basis | Derivatives | Level 1
Fair Value Measurements
Short-term investments	0	0
Recurring basis | Derivatives | Level 2
Fair Value Measurements
Short-term investments	1,507	514
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, 2024 USD ($)
Fair Value Disclosures [Abstract]
Restricted cash	$ 17.3

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 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 19,662	$ 29,190
Purchases	213	944
Sale of investments	(10)	(2,189)
Redemptions and paydowns	(111)	(238)
Amortization and accretion, net	(39)	(7)
Realized and unrealized gains (losses), net	(105)	(134)
Ending balance	19,610	27,566
Asset-Backed Securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	7,914	9,033
Purchases	0	0
Sale of investments	0	0
Redemptions and paydowns	(39)	(41)
Amortization and accretion, net	29	16
Realized and unrealized gains (losses), net	(120)	(145)
Ending balance	7,784	8,863
Bank Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	6,868	9,426
Purchases	0	944
Sale of investments	0	(2,189)
Redemptions and paydowns	(72)	(185)
Amortization and accretion, net	0	1
Realized and unrealized gains (losses), net	2	61
Ending balance	6,798	8,058
Collateralized Loan Obligations
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	253	2,558
Purchases	213	0
Sale of investments	0	0
Redemptions and paydowns	0	0
Amortization and accretion, net	0	0
Realized and unrealized gains (losses), net	0	(130)
Ending balance	466	2,428
Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	4,627	8,173
Purchases	0	0
Sale of investments	(10)	0
Redemptions and paydowns	0	(12)
Amortization and accretion, net	(68)	(24)
Realized and unrealized gains (losses), net	13	80
Ending balance	$ 4,562	$ 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, 2024	Dec. 31, 2023
Fair Value Measurements
Carrying Amount	$ 1,687,367	$ 1,581,009
Fair Value	1,526,555	1,406,721
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	$ 1,526,555	$ 1,406,721

Financial Derivative Instrume_3

Financial Derivative Instruments - Realized and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative instrument
Losses on fuel derivatives recorded as Nonoperating Expense	$ (582)	$ (5,065)
Not Designated as Hedging Instrument | Commodity Contract
Derivative instrument
Losses realized at settlement	(2,398)	(1,513)
Reversal of prior period unrealized amounts	4,335	2,639
Unrealized losses that will settle in future periods	(2,519)	(6,191)
Losses on fuel derivatives recorded as Nonoperating Expense	$ (582)	$ (5,065)

Financial Derivative Instrume_4

Financial Derivative Instruments - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Derivative instrument
Net derivative position	$ 4,700,000		$ 2,600,000
Collateral posted with counterparties	0		0
Derivatives
Derivative instrument
Net asset position	1,500,000		$ 500,000
Unrealized gain (loss)	$ 600,000	$ 100,000

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, 2024 USD ($) gal	Dec. 31, 2023 USD ($) gal	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 EUR (€)
Fair Value of Derivatives
Net derivative position	$ 4,700	$ 2,600
Not Designated as Hedging Instrument | Commodity Contract
Fair Value of Derivatives
Notional amount (in gallons) | gal	93,114	90,258
Gross fair value of assets, current	$ 3,189	$ 2,069
Gross fair value of (liabilities), current	0	0
Net derivative position	3,189	2,069
Not Designated as Hedging Instrument | Foreign currency derivatives
Fair Value of Derivatives
Derivative, notional amount | €			€ 37,707	€ 38,385
Gross fair value of assets, current	1,109	543
Gross fair value of (liabilities), current	0	(569)
Net derivative position	1,109	(26)
Not Designated as Hedging Instrument | Interest rate contracts
Fair Value of Derivatives
Derivative, notional amount	47,217	16,110
Gross fair value of assets, current	550	797
Gross fair value of (liabilities), current	(152)	(257)
Net derivative position	$ 398	$ 540

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 29, 2024	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt		$ 1,707,892
Unamortized debt discount and issuance costs		(20,525)	$ (20,703)
Total Debt		1,687,367	1,581,009
Less: Current maturities of long-term debt		(75,132)	(43,857)
Long-Term Debt, less discount		$ 1,612,235	$ 1,537,152
Enhanced Equipment Trust Certificates (EETC) | Class A EETC-13
Debt Instrument [Line Items]
Interest rate		3.90%	3.90%
Long-term debt		$ 153,067	$ 162,953
1.05% Japanese Yen Denominated Debt Due May 2030
Debt Instrument [Line Items]
Interest rate		1.05%	1.05%
Long-term debt		$ 17,092	$ 19,050
1.01% Japanese Yen Denominated Debt Due June 2030
Debt Instrument [Line Items]
Interest rate		1.01%	1.01%
Long-term debt		$ 15,278	$ 16,394
0.65% Japanese Yen Denominated Debt Due March 2025
Debt Instrument [Line Items]
Interest rate		0.65%	0.65%
Long-term debt		$ 38,610	$ 45,107
0.76% Japanese Yen Denominated Debt Due September 2031
Debt Instrument [Line Items]
Interest rate		0.76%	0.76%
Long-term debt		$ 40,462	$ 46,225
Payroll Support Program
Debt Instrument [Line Items]
Interest rate		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		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		1%	1%
Long-term debt		$ 23,908	$ 23,908
Payroll Support Program 3 | Secured overnight financing rate
Debt Instrument [Line Items]
Margin		2%	2%
Financing Lease Variable interest Rate
Debt Instrument [Line Items]
Long-term debt	$ 131,400	$ 131,400	$ 0
Financing Lease Variable interest Rate | Secured overnight financing rate
Debt Instrument [Line Items]
Margin	3.85%	3.85%	3.85%
Senior Notes | 5.75% Senior Secured Notes
Debt Instrument [Line Items]
Interest rate		5.75%	5.75%
Long-term debt		$ 1,200,000	$ 1,200,000

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
	Feb. 29, 2024	Aug. 31, 2022	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt			$ 1,707,892,000
Financing Lease Variable interest Rate
Debt Instrument [Line Items]
Long-term debt	$ 131,400,000		$ 131,400,000	$ 0
Term of debt instrument	10 years
Financing Lease Variable interest Rate | Secured overnight financing rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)	3.85%		3.85%	3.85%
Revolving credit facility | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 235,000,000
Outstanding borrowings			$ 0
Revolving credit facility | Line of credit | Secured overnight financing rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate (as a percent)		3%
Revolving credit facility | Line of credit | 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, 2024 USD ($)
Debt Disclosure [Abstract]
Remaining months in 2024	$ 33,489
2025	64,422
2026	1,348,357
2027	21,708
2028	22,657
Thereafter	217,259
Long-term debt	$ 1,707,892

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Components of Net Period Benefit Cost
Service cost	$ 2,514,000	$ 1,629,000
Other cost:
Interest cost	6,307,000	6,430,000
Expected return on plan assets	(5,843,000)	(5,531,000)
Recognized net actuarial loss	463,000	595,000
Total other components of the net periodic benefit cost	927,000	1,494,000
Net periodic benefit cost	3,441,000	3,123,000
Contribution to defined benefit and other postretirement plans	$ 0	$ 0

Amazon Agreement (Details)

Amazon Agreement (Details) $ / shares in Units, $ in Thousands	Oct. 20, 2022 USD ($) aircraft $ / shares shares	Mar. 31, 2024 USD ($) tranche $ / shares shares	Dec. 31, 2023 USD ($) $ / shares	Mar. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Noncurrent frequent flyer deferred revenue		$ 304,099	$ 308,502
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
Warrants issued (in shares) | shares	9,442,443	8,183,451		8,183,451
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Aggregate qualified payments	$ 1,800,000
Number of tranches | tranche		2
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		$ 8.77
Redemption of warrants trading days	30 days
Revenue over the vesting period		$ 27,600

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Orders and Purchase Rights (Details) - Aircraft and Aircraft Related	3 Months Ended
	Mar. 31, 2024 purchaseRight order
Boeing 787-9 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
Boeing 787-9 aircraft
Long-term Purchase Commitment [Line Items]
Firm Orders | order	11
Purchase Rights | purchaseRight	8

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Narrative (Details)	1 Months Ended
	Apr. 24, 2024 USD ($)	Dec. 31, 2022 aircraft	Oct. 31, 2018 engine	Jul. 31, 2018 aircraft	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Long-term Purchase Commitment [Line Items]
Long-term debt					$ 1,707,892,000
Senior Note Due April 2034 | Senior Notes | Subsequent Event
Long-term Purchase Commitment [Line Items]
Long-term debt	$ 115,000,000
Senior Note Due April 2034 | Senior Notes | SOFR | Subsequent Event
Long-term Purchase Commitment [Line Items]
Margin	3.50%
Senior Note Due April 2029 | Junior Notes | Subsequent Event
Long-term Purchase Commitment [Line Items]
Long-term debt	$ 15,000,000
Interest rate	8.8693%
Credit card processing agreements
Long-term Purchase Commitment [Line Items]
Restricted cash					$ 0	$ 0
Maximum amount that holdback could increase					100%
Boeing 787-9 aircraft
Long-term Purchase Commitment [Line Items]
Number of aircraft under purchase agreements | aircraft				10
Number of aircraft with purchase rights | aircraft				10
Number of aircraft under supplemental agreement | aircraft		2
Boeing 787-9 aircraft | General Electric GEnx engines
Long-term Purchase Commitment [Line Items]
Number of engines, firm order | engine			20
Number of engines, purchase rights | engine			20
Boeing 787-9 aircraft | General Electric GEnx spare engines
Long-term Purchase Commitment [Line Items]
Number of spare engine purchase rights | engine			4

Commitments and Contingent Li_5

Commitments and Contingent Liabilities - Committed Expenditures and Committed Payments (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Total Committed Expenditures
Remaining in 2024	$ 246,153
2025	437,885
2026	677,558
2027	261,142
2028	3,311
Thereafter	58,285
Total	1,684,334
Aircraft and Aircraft Related
Total Committed Expenditures
Remaining in 2024	225,949
2025	419,557
2026	665,473
2027	252,872
2028	0
Thereafter	0
Total	1,563,851
Other
Total Committed Expenditures
Remaining in 2024	20,204
2025	18,328
2026	12,085
2027	8,270
2028	3,311
Thereafter	58,285
Total	$ 120,483

Assets Held-For-Sale - Narrativ

Assets Held-For-Sale - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2023	Dec. 31, 2021	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held-for-sale			$ 1,091	$ 1,135
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
Assets held-for-sale			1,091	1,135	$ 5,024	$ 14,019
Held-for-sale | 'Ohana by Hawaiian
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Write-down of fleet		6,400
Assets held-for-sale		23,400
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		$ 6,300	$ 0	$ 0	$ 0	$ 6,291
Disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of aircraft	$ 10,200

Assets Held-For-Sale - Asset He

Assets Held-For-Sale - Asset Held for Sale Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance	$ 1,135
Ending balance	1,091
Held-for-sale
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance	1,135	$ 14,019
Additions	0	0
Proceeds from sale	(105)	(19,239)
Realized gains	61	10,244
Realized losses	0	0
Ending balance	1,091	5,024
Held-for-sale | ATR Aircraft
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance	1,135	7,728
Additions	0	0
Proceeds from sale	(105)	(2,769)
Realized gains	61	65
Realized losses	0	0
Ending balance	1,091	5,024
Held-for-sale | Commercial Real Estate
Disposal Groups, Including Discontinued Operations, Assets [Roll Forward]
Beginning balance	0	6,291
Additions	0	0
Proceeds from sale	0	(16,470)
Realized gains	0	10,179
Realized losses	0	0
Ending balance	$ 0	$ 0

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Operations and Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	$ 645,567	$ 612,603
Operating Expenses:
Wages and benefits	261,935	241,933
Aircraft fuel, including taxes and delivery	188,778	197,625
Maintenance, materials and repairs	70,971	50,287
Aircraft and passenger servicing	45,424	42,532
Commissions and other selling	28,443	28,238
Aircraft rent	29,706	28,171
Other rentals and landing fees	43,127	38,720
Depreciation and amortization	32,967	32,667
Purchased services	38,475	35,072
Special items	8,482	0
Other	45,905	34,785
Total	794,213	730,030
Operating Loss	(148,646)	(117,427)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	0	0
Interest expense and amortization of debt discounts and issuance costs	(24,069)	(22,880)
Interest income	10,021	16,465
Capitalized interest	3,134	1,458
Losses on fuel derivatives	(582)	(5,065)
Other components of net periodic benefit cost	(927)	(1,494)
Gains on investments, net	470	697
Gains on foreign debt	8,519	2,260
Other, net	(770)	155
Total	(4,204)	(8,404)
Loss Before Income Taxes	(152,850)	(125,831)
Income tax benefit	(15,285)	(27,574)
Net Loss	(137,565)	(98,257)
Comprehensive Loss	(136,448)	(100,309)
Eliminations
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	(13,807)	(13,472)
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	(89)	(145)
Aircraft rent	0	0
Other rentals and landing fees	0	(19)
Depreciation and amortization	0	0
Purchased services	(66)	(66)
Special items	0
Other	(13,652)	(13,240)
Total	(13,807)	(13,470)
Operating Loss	0	(2)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	139,664	101,526
Interest expense and amortization of debt discounts and issuance costs	746	740
Interest income	(746)	(740)
Capitalized interest	0	0
Losses on fuel derivatives	0	0
Other components of net periodic benefit cost	0	0
Gains on investments, net	0	0
Gains on foreign debt	0	0
Other, net	0	0
Total	139,664	101,526
Loss Before Income Taxes	139,664	101,524
Income tax benefit	0	0
Net Loss	139,664	101,524
Comprehensive Loss	138,550	103,579
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	10	8
Aircraft rent	0	0
Other rentals and landing fees	0	0
Depreciation and amortization	0	0
Purchased services	120	119
Special items	0
Other	2,349	1,829
Total	2,479	1,956
Operating Loss	(2,479)	(1,956)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	(135,192)	(96,696)
Interest expense and amortization of debt discounts and issuance costs	0	0
Interest income	109	398
Capitalized interest	0	0
Losses on fuel derivatives	0	0
Other components of net periodic benefit cost	0	0
Gains on investments, net	0	0
Gains on foreign debt	0	0
Other, net	0	0
Total	(135,083)	(96,298)
Loss Before Income Taxes	(137,562)	(98,254)
Income tax benefit	0	0
Net Loss	(137,562)	(98,254)
Comprehensive Loss	(136,448)	(100,309)
Subsidiary Issuer / Guarantor | Reportable legal entities
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	645,591	611,800
Operating Expenses:
Wages and benefits	261,935	241,933
Aircraft fuel, including taxes and delivery	188,778	197,625
Maintenance, materials and repairs	70,971	50,318
Aircraft and passenger servicing	45,424	42,532
Commissions and other selling	28,490	28,153
Aircraft rent	29,706	28,171
Other rentals and landing fees	43,127	38,739
Depreciation and amortization	32,967	32,667
Purchased services	38,327	34,451
Special items	8,482
Other	56,571	55,564
Total	804,778	750,153
Operating Loss	(159,187)	(138,353)
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	(4,472)	(4,830)
Interest expense and amortization of debt discounts and issuance costs	(6,314)	(5,147)
Interest income	9,447	15,542
Capitalized interest	3,134	1,458
Losses on fuel derivatives	(582)	(5,065)
Other components of net periodic benefit cost	(927)	(1,494)
Gains on investments, net	470	697
Gains on foreign debt	8,519	2,260
Other, net	(770)	155
Total	8,505	3,576
Loss Before Income Taxes	(150,682)	(134,777)
Income tax benefit	(15,285)	(27,574)
Net Loss	(135,397)	(107,203)
Comprehensive Loss	(134,280)	(109,255)
Non-Guarantor Subsidiaries | Reportable legal entities
Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)
Operating Revenue	13,783	14,275
Operating Expenses:
Wages and benefits	0	0
Aircraft fuel, including taxes and delivery	0	0
Maintenance, materials and repairs	0	(31)
Aircraft and passenger servicing	0	0
Commissions and other selling	32	222
Aircraft rent	0	0
Other rentals and landing fees	0	0
Depreciation and amortization	0	0
Purchased services	94	568
Special items	0
Other	637	(9,368)
Total	763	(8,609)
Operating Loss	13,020	22,884
Nonoperating Income (Expense):
Undistributed net loss of subsidiaries	0	0
Interest expense and amortization of debt discounts and issuance costs	(18,501)	(18,473)
Interest income	1,211	1,265
Capitalized interest	0	0
Losses on fuel derivatives	0	0
Other components of net periodic benefit cost	0	0
Gains on investments, net	0	0
Gains on foreign debt	0	0
Other, net	0	0
Total	(17,290)	(17,208)
Loss Before Income Taxes	(4,270)	5,676
Income tax benefit	0	0
Net Loss	(4,270)	5,676
Comprehensive Loss	$ (4,270)	$ 5,676

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 230,865	$ 153,273
Restricted cash	17,250	17,250
Short-term investments	666,432	755,224
Accounts receivable, net	99,117	105,858
Income taxes receivable	642	669
Spare parts and supplies, net	65,444	60,115
Prepaid expenses and other	80,304	78,551
Total	1,160,054	1,170,940
Property and equipment at cost	3,264,937	3,164,145
Less accumulated depreciation and amortization	(1,160,495)	(1,150,529)
Property and equipment, net	2,104,442	2,013,616
Assets held-for-sale	1,091	1,135
Operating lease right-of-use assets	393,769	413,237
Long-term prepayments and other	118,057	121,097
Goodwill and other intangible assets, net	13,500	13,500
Intercompany receivable	0	0
Investment in consolidated subsidiaries	0	0
Total Assets	3,790,913	3,733,525
Current Liabilities:
Accounts payable	214,848	199,223
Air traffic liability and current frequent flyer deferred revenue	757,855	633,345
Other accrued liabilities	165,430	175,591
Current maturities of long-term debt, less discount	75,132	43,857
Current maturities of finance lease obligations	8,791	10,053
Current maturities of operating leases	79,281	83,332
Total	1,301,337	1,145,401
Long-Term Debt	1,612,235	1,537,152
Intercompany payable	0	0
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	56,269	60,116
Noncurrent operating leases	283,836	303,119
Accumulated pension and other post-retirement benefit obligations	142,367	140,742
Other liabilities and deferred credits	78,499	77,154
Noncurrent frequent flyer deferred revenue	304,099	308,502
Deferred tax liabilities, net	52,492	65,914
Total	917,562	955,547
Shareholders’ equity	(40,221)	95,425	$ 233,320	$ 333,265
Total Liabilities and Shareholders’ Equity	3,790,913	3,733,525
Eliminations
Current Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Short-term investments	0	0
Accounts receivable, net	(23,816)	(23,327)
Income taxes receivable	0	0
Spare parts and supplies, net	0	0
Prepaid expenses and other	0	0
Total	(23,816)	(23,327)
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	775,218	635,552
Investment in consolidated subsidiaries	(790,644)	(790,644)
Total Assets	(1,239,242)	(1,378,419)
Current Liabilities:
Accounts payable	(14,358)	(14,615)
Air traffic liability and current frequent flyer deferred revenue	0	0
Other accrued liabilities	(9,458)	(8,712)
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	(23,816)	(23,327)
Long-Term Debt	(1,200,000)	(1,200,000)
Intercompany payable	310,756	308,943
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	(326,182)	(464,035)
Total Liabilities and Shareholders’ Equity	(1,239,242)	(1,378,419)
Parent Issuer / Guarantor | Reportable legal entities
Current Assets:
Cash and cash equivalents	8,817	8,707
Restricted cash	0	0
Short-term investments	0	0
Accounts receivable, net	1,269	1,269
Income taxes receivable	0	0
Spare parts and supplies, net	0	0
Prepaid expenses and other	0	0
Total	10,086	9,976
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	(713,153)	(577,961)
Investment in consolidated subsidiaries	807,451	807,451
Total Assets	104,384	239,466
Current Liabilities:
Accounts payable	2,048	784
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	2,048	784
Long-Term Debt	0	0
Intercompany payable	142,552	143,257
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	(40,216)	95,425
Total Liabilities and Shareholders’ Equity	104,384	239,466
Subsidiary Issuer / Guarantor | Reportable legal entities
Current Assets:
Cash and cash equivalents	190,050	113,026
Restricted cash	0	0
Short-term investments	666,432	755,224
Accounts receivable, net	93,977	101,655
Income taxes receivable	642	669
Spare parts and supplies, net	65,444	60,115
Prepaid expenses and other	80,304	78,551
Total	1,096,849	1,109,240
Property and equipment at cost	3,264,937	3,164,145
Less accumulated depreciation and amortization	(1,160,495)	(1,150,529)
Property and equipment, net	2,104,442	2,013,616
Assets held-for-sale	224	262
Operating lease right-of-use assets	393,769	413,237
Long-term prepayments and other	118,057	121,097
Goodwill and other intangible assets, net	0	0
Intercompany receivable	(62,065)	(57,591)
Investment in consolidated subsidiaries	(17,310)	(17,309)
Total Assets	3,633,966	3,582,552
Current Liabilities:
Accounts payable	226,522	212,464
Air traffic liability and current frequent flyer deferred revenue	749,261	623,324
Other accrued liabilities	161,230	170,651
Current maturities of long-term debt, less discount	75,132	43,857
Current maturities of finance lease obligations	8,791	10,053
Current maturities of operating leases	79,281	83,332
Total	1,300,217	1,143,681
Long-Term Debt	1,621,457	1,547,626
Intercompany payable	(581,251)	(573,873)
Other Liabilities and Deferred Credits:
Noncurrent finance lease obligations	56,269	60,116
Noncurrent operating leases	283,836	303,119
Accumulated pension and other post-retirement benefit obligations	142,367	140,742
Other liabilities and deferred credits	78,499	77,154
Noncurrent frequent flyer deferred revenue	304,099	308,502
Deferred tax liabilities, net	52,492	65,914
Total	917,562	955,547
Shareholders’ equity	375,981	509,571
Total Liabilities and Shareholders’ Equity	3,633,966	3,582,552
Non-Guarantor Subsidiaries | Reportable legal entities
Current Assets:
Cash and cash equivalents	31,998	31,540
Restricted cash	17,250	17,250
Short-term investments	0	0
Accounts receivable, net	27,687	26,261
Income taxes receivable	0	0
Spare parts and supplies, net	0	0
Prepaid expenses and other	0	0
Total	76,935	75,051
Property and equipment at cost	0	0
Less accumulated depreciation and amortization	0	0
Property and equipment, net	0	0
Assets held-for-sale	867	873
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	13,500	13,500
Intercompany receivable	0	0
Investment in consolidated subsidiaries	503	502
Total Assets	1,291,805	1,289,926
Current Liabilities:
Accounts payable	636	590
Air traffic liability and current frequent flyer deferred revenue	8,594	10,021
Other accrued liabilities	13,658	13,652
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	22,888	24,263
Long-Term Debt	1,190,778	1,189,526
Intercompany payable	127,943	121,673
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	(49,804)	(45,536)
Total Liabilities and Shareholders’ Equity	$ 1,291,805	$ 1,289,926

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	$ 254	$ 118,291
Cash Flows From Investing Activities:
Net payments to affiliates	0	0
Additions to property and equipment, including pre-delivery deposits	(127,018)	(106,215)
Proceeds from the disposition of aircraft and aircraft related equipment	105	9,563
Purchases of investments	(15,824)	(96,806)
Proceeds from sales and maturities of investments	109,485	144,069
Net cash used in investing activities	(33,252)	(49,389)
Cash Flows From Financing Activities:
Long-term borrowings	131,400	0
Repayments of long-term debt and finance lease obligations	(18,760)	(24,953)
Debt issuance costs and discounts	(1,849)	0
Net payments from affiliates	0	0
Payment for taxes withheld for stock compensation	(201)	(1,066)
Net cash provided by (used in) financing activities	110,590	(26,019)
Net increase (decrease) in cash and cash equivalents	77,592	42,883
Cash, cash equivalents, and restricted cash - Beginning of Period	170,523	246,620
Cash, cash equivalents, and restricted cash - End of Period	248,115	289,503
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	907	(7,229)
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 used in investing activities	907	(7,229)
Cash Flows From Financing Activities:
Long-term borrowings	0
Repayments of long-term debt and finance lease obligations	0	0
Debt issuance costs and discounts	0
Net payments from affiliates	(907)	7,229
Payment for taxes withheld for stock compensation	0	0
Net cash provided by (used in) financing activities	(907)	7,229
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	(797)	(613)
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	0	6,793
Purchases of investments	0	0
Proceeds from sales and maturities of investments	0	0
Net cash used in investing activities	0	6,793
Cash Flows From Financing Activities:
Long-term borrowings	0
Repayments of long-term debt and finance lease obligations	0	0
Debt issuance costs and discounts	0
Net payments from affiliates	907	(7,229)
Payment for taxes withheld for stock compensation	0	0
Net cash provided by (used in) financing activities	907	(7,229)
Net increase (decrease) in cash and cash equivalents	110	(1,049)
Cash, cash equivalents, and restricted cash - Beginning of Period	8,707	28,620
Cash, cash equivalents, and restricted cash - End of Period	8,817	27,571
Subsidiary Issuer / Guarantor | Reportable legal entities
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	6,887	122,379
Cash Flows From Investing Activities:
Net payments to affiliates	(7,179)	24,435
Additions to property and equipment, including pre-delivery deposits	(127,018)	(106,215)
Proceeds from the disposition of aircraft and aircraft related equipment	83	20
Purchases of investments	(15,824)	(96,806)
Proceeds from sales and maturities of investments	109,485	144,069
Net cash used in investing activities	(40,453)	(34,497)
Cash Flows From Financing Activities:
Long-term borrowings	131,400
Repayments of long-term debt and finance lease obligations	(18,760)	(24,953)
Debt issuance costs and discounts	(1,849)
Net payments from affiliates	0	0
Payment for taxes withheld for stock compensation	(201)	(1,066)
Net cash provided by (used in) financing activities	110,590	(26,019)
Net increase (decrease) in cash and cash equivalents	77,024	61,863
Cash, cash equivalents, and restricted cash - Beginning of Period	113,026	151,357
Cash, cash equivalents, and restricted cash - End of Period	190,050	213,220
Non-Guarantor Subsidiaries | Reportable legal entities
Condensed Consolidating Statements of Cash Flows
Net Cash Provided By (Used In) Operating Activities	(5,836)	(3,475)
Cash Flows From Investing Activities:
Net payments to affiliates	6,272	(17,206)
Additions to property and equipment, including pre-delivery deposits	0	0
Proceeds from the disposition of aircraft and aircraft related equipment	22	2,750
Purchases of investments	0	0
Proceeds from sales and maturities of investments	0	0
Net cash used in investing activities	6,294	(14,456)
Cash Flows From Financing Activities:
Long-term borrowings	0
Repayments of long-term debt and finance lease obligations	0	0
Debt issuance costs and discounts	0
Net payments from affiliates	0	0
Payment for taxes withheld for stock compensation	0	0
Net cash provided by (used in) financing activities	0	0
Net increase (decrease) in cash and cash equivalents	458	(17,931)
Cash, cash equivalents, and restricted cash - Beginning of Period	48,790	66,643
Cash, cash equivalents, and restricted cash - End of Period	$ 49,248	$ 48,712