Allegiant Travel (ALGT) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 23, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-33166
Entity Registrant Name	Allegiant Travel Co
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-4745737
Entity Address, Address Line One	1201 North Town Center Drive
Entity Address, City or Town	Las Vegas,
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89144
City Area Code	702
Local Phone Number	851-7300
Title of 12(b) Security	Common stock, par value $0.001
Trading Symbol	ALGT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,401,180
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001362468
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS_(un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 284,213	$ 229,989
Restricted cash	22,475	15,457
Short-term investments	651,213	725,063
Accounts receivable	43,957	106,578
Expendable parts, supplies and fuel, net	38,381	35,546
Prepaid expenses and other current assets	103,253	161,636
TOTAL CURRENT ASSETS	1,143,492	1,274,269
Property and equipment, net	3,328,122	2,810,693
Long-term investments	71,582	63,318
Deferred major maintenance, net	166,086	157,410
Operating lease right-of-use assets, net	105,663	111,679
Deposits and other assets	97,391	93,928
TOTAL ASSETS:	4,912,336	4,511,297
TOTAL ASSETS:
Accounts payable	55,476	58,335
Accrued liabilities	272,719	226,276
Current operating lease liabilities	20,663	19,973
Air traffic liability	395,836	379,459
Loyalty program liability	39,022	32,888
Current maturities of long-term debt and finance lease obligations, net of related costs	265,979	152,900
TOTAL CURRENT LIABILITIES	1,049,695	869,831
Long-term debt and finance lease obligations, net of current maturities and related costs	2,020,019	1,944,078
Deferred income taxes	366,641	346,388
Noncurrent operating lease liabilities	87,689	94,972
Loyalty program liability	32,786	23,612
Other noncurrent liabilities	12,361	11,718
TOTAL LIABILITIES:	3,569,191	3,290,599
TOTAL LIABILITIES:
Common stock, par value $0.001	26	25
Treasury shares	(672,644)	(660,023)
Additional paid in capital	734,132	709,471
Accumulated other comprehensive income, net	3,195	1,257
Retained earnings	1,278,436	1,169,968
TOTAL EQUITY:	1,343,145	1,220,698
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY:	$ 4,912,336	$ 4,511,297

CONSOLIDATED BALANCE SHEETS_(_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
OPERATING REVENUES:
Passenger	$ 516,251	$ 516,476	$ 1,768,274	$ 1,573,041
Third party products	30,944	27,132	85,886	77,399
Fixed fee contracts	17,741	15,881	43,599	38,186
Other	423	836	1,096	1,654
Total operating revenues	565,359	560,325	1,898,855	1,690,280
OPERATING EXPENSES:
Aircraft fuel	167,861	208,175	520,018	629,600
Salaries and benefits	163,004	137,336	499,798	411,027
Station operations	64,630	66,302	192,864	198,954
Depreciation and amortization	55,816	50,092	164,430	145,618
Maintenance and repairs	35,477	32,177	95,553	91,120
Sales and marketing	28,468	25,815	85,265	75,462
Aircraft lease rentals	5,906	5,905	18,973	17,489
Other	29,432	30,292	91,757	83,137
Special charges, net of recoveries	32,648	35,142	19,828	35,426
Total operating expenses	583,242	591,236	1,688,486	1,687,833
OPERATING INCOME (LOSS)	(17,883)	(30,911)	210,369	2,447
OTHER (INCOME) EXPENSES:
Interest expense	39,233	34,242	112,707	78,530
Capitalized interest	(14,888)	(4,296)	(28,949)	(7,594)
Interest income	(12,444)	(4,918)	(34,418)	(7,909)
Other, net	135	223	185	318
Total other expenses	12,036	25,251	49,525	63,345
INCOME (LOSS) BEFORE INCOME TAXES	(29,919)	(56,162)	160,844	(60,898)
INCOME TAX PROVISION (BENEFIT)	(4,853)	(9,703)	41,292	(10,916)
NET INCOME (LOSS)	$ (25,066)	$ (46,459)	$ 119,552	$ (49,982)
Earnings (loss) per share to common shareholders:
Basic (in dollars per share)	$ (1.44)	$ (2.58)	$ 6.44	$ (2.78)
Diluted (in dollars per share)	$ (1.44)	$ (2.58)	$ 6.43	$ (2.78)
Shares used for computation:
Basic (in shares)	17,721	18,014	17,879	17,985
Diluted (in shares)	17,721	18,014	17,913	17,985

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (25,066)	$ (46,459)	$ 119,552	$ (49,982)
Other comprehensive income:
Change in available for sale securities, net of tax	556	(1,590)	1,938	(902)
Total other comprehensive income (loss)	556	(1,590)	1,938	(902)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ (24,510)	$ (48,049)	$ 121,490	$ (50,884)

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	AOCI Attributable to Parent	Retained Earnings	Treasury shares	Parent
Beginning balance (in shares) at Dec. 31, 2021		18,111
Par value, beginning balance at Dec. 31, 2021		$ 25
Beginning balance at Dec. 31, 2021	$ 1,223,552		$ 692,053	$ 2,056	$ 1,167,475	$ (638,057)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		161
Share-based compensation			11,580				$ 11,580
Stock issued under employee stock purchase plan (in shares)		30
Stock issued under employee stock purchase plan						4,725	4,725
Other comprehensive income	(902)			(902)			(902)
Net income (loss)					(49,982)		(49,982)
Ending balance (in shares) at Sep. 30, 2022		18,302
Par value, ending balance at Sep. 30, 2022		$ 25
Ending balance at Sep. 30, 2022	1,188,973		703,633	1,154	1,117,493	(633,332)
Beginning balance (in shares) at Jun. 30, 2022		18,180
Par value, beginning balance at Jun. 30, 2022		$ 25
Beginning balance at Jun. 30, 2022	1,232,371		698,982	2,744	1,163,952	(633,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		122
Share-based compensation			4,651				4,651
Other comprehensive income	(1,590)			(1,590)			(1,590)
Net income (loss)					(46,459)		(46,459)
Ending balance (in shares) at Sep. 30, 2022		18,302
Par value, ending balance at Sep. 30, 2022		$ 25
Ending balance at Sep. 30, 2022	1,188,973		703,633	1,154	1,117,493	(633,332)
Beginning balance (in shares) at Dec. 31, 2022		18,128
Par value, beginning balance at Dec. 31, 2022	25	$ 25
Beginning balance at Dec. 31, 2022	1,220,698		709,471	1,257	1,169,968	(660,023)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		415
Share-based compensation		$ 1	24,661				24,662
Shares repurchased by the Company and held as treasury shares (in shares)		(173)
Shares repurchased by the Company and held as treasury shares						(16,853)	(16,853)
Cash dividends					(11,084)		(11,084)
Stock issued under employee stock purchase plan (in shares)		41
Stock issued under employee stock purchase plan						4,232	4,232
Other comprehensive income	1,938			1,938			1,938
Net income (loss)					119,552		119,552
Ending balance (in shares) at Sep. 30, 2023		18,411
Par value, ending balance at Sep. 30, 2023	26	$ 26
Ending balance at Sep. 30, 2023	1,343,145		734,132	3,195	1,278,436	(672,644)
Beginning balance (in shares) at Jun. 30, 2023		18,450
Par value, beginning balance at Jun. 30, 2023		$ 26
Beginning balance at Jun. 30, 2023	1,373,561		727,534	2,639	1,314,586	(671,224)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)		(23)
Share-based compensation		$ 0	6,598				6,598
Shares repurchased by the Company and held as treasury shares (in shares)		(16)
Shares repurchased by the Company and held as treasury shares						(1,420)	(1,420)
Cash dividends					(11,084)		(11,084)
Other comprehensive income	556			556			556
Net income (loss)					(25,066)		$ (25,066)
Ending balance (in shares) at Sep. 30, 2023		18,411
Par value, ending balance at Sep. 30, 2023	26	$ 26
Ending balance at Sep. 30, 2023	$ 1,343,145		$ 734,132	$ 3,195	$ 1,278,436	$ (672,644)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (unaudited) (Parenthetical) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, per share, cash paid (in dollars per share)	$ 0.60	$ 0.60

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Statement of Cash Flows [Abstract]
NET INCOME (LOSS)	$ 119,552	$ (49,982)
Depreciation and amortization	164,430	145,618
Special charges, net of recoveries	19,400	35,426
Other adjustments	31,281	9,206
Air traffic liability	16,377	122,471
Other - net	18,418	(40,917)
Net cash provided by operating activities	369,458	221,822
Cash flows from investing activities:
Purchase of investment securities	(668,234)	(968,064)
Proceeds from maturities of investment securities	753,094	1,024,861
Aircraft pre-delivery deposits	(255,195)	(88,500)
Purchase of property and equipment	(407,225)	(304,956)
Other investing activities	40,123	1,037
Net cash used in investing activities	(537,437)	(335,622)
Cash flows from financing activities:
Cash dividends paid to shareholders	(11,084)	0
Proceeds from the issuance of debt and finance lease obligations	480,875	745,800
Repurchase of common stock	(16,853)	0
Principal payments on debt and finance lease obligations	(292,890)	(666,046)
Debt issuance costs	(4,929)	(12,681)
Sunseeker construction financing disbursements (deposits)	69,869	(87,500)
Other financing activities	4,233	4,725
Net cash provided by (used in) financing activities	229,221	(15,702)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	61,242	(129,502)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	245,446	400,701
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	306,688	271,199
CASH PAYMENTS FOR:
Interest paid, net of amount capitalized	113,977	60,452
Income tax payments	359	36
SUPPLEMENTAL DISCLOSURE OF NONCASH TRANSACTIONS:
Right-of-use (ROU) assets acquired	8,320	0
Flight equipment acquired under finance leases	0	172,507
Purchases of property and equipment in accrued liabilities	$ 75,001	$ 82,359

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Allegiant Travel Company (the “Company”) and its majority-owned operating subsidiaries. The Company's investments in unconsolidated affiliates, which are 50 percent or less owned, are accounted for under the equity or cost method, and are insignificant to the consolidated financial statements. All intercompany balances and transactions have been eliminated. These unaudited consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year ended December 31, 2022 and filed with the Securities and Exchange Commission.

Special Charges

Special Charges	9 Months Ended
	Sep. 30, 2023
Unusual or Infrequent Items, or Both [Abstract]
Special Charges	Special Charges As a result of Hurricane Ian's direct hit on the southwest coast of Florida on September 28, 2022, the construction site of Sunseeker Resort at Charlotte Harbor (the "Resort" or "Sunseeker Resort") was damaged. Additionally in the fourth quarter of 2022, there was another weather-related event and a fire that caused additional damage. Based on the Company’s assessment of these damages and the anticipated future restoration costs, an estimated loss of $52.1 million was recorded as a special charge in 2022, which was offset by $18.1 million of recorded insurance recoveries during 2022. The Company recorded an additional $4.1 million and $4.4 million of estimated loss related to Hurricane Ian during the three and nine months ended September 30, 2023. During third quarter 2023, the Sunseeker Resort construction site incurred additional damages related to Hurricane Idalia. Based on the Company’s assessment of these damages and the anticipated future restoration costs, an estimated loss of $13.8 million was recorded as a special charge in third quarter 2023. The estimate is preliminary and subject to change as the damage assessment by the Company and the insurance providers continues. During the three and nine months ended September 30, 2023, the Company recorded $0.5 million and $13.6 million of insurance recoveries respectively. The recoveries are offset by $17.9 million and $18.2 million of additional losses recorded during the three and nine months ended September 30, 2023 respectively, resulting in special charges net of recoveries of $17.4 million and $4.6 million, respectively. To date, the Company has recorded insurance recoveries of $31.7 million related to Hurricane Ian and subsequent insurance events. We anticipate that additional insurance recoveries related to the losses incurred in third and fourth quarters 2022 and in third quarter 2023 will be recorded in future periods. Due to the heavy maintenance needs on certain aging Airbus airframes and capacity constraints at the maintenance, repair, and overhaul contractors, the Company reevaluated its fleet plan and identified 21 airframes for early retirement to coincide with 737 MAX aircraft deliveries as scheduled under an amendment to the Company's agreement with The Boeing Company signed in September 2023. Two airframes were fully retired in September 2023 and the remaining airframes are to be retired between January 2024 and September 2025. The accelerated depreciation on these airframes resulting from a change in the estimated useful life is recorded as a special charge of $15.2 million during third quarter 2023. Special Charges The table below summarizes special charges recorded during the three and nine months ended September 30, 2023, and 2022. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Sunseeker weather and related events $ 17,915 $ 35,000 $ 18,232 $ 35,000 Sunseeker weather and related events, insurance recoveries (483) — (13,634) — Accelerated depreciation on airframes identified for early retirement 15,216 142 15,230 426 Total special charges $ 32,648 $ 35,142 $ 19,828 $ 35,426

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Revenue Recognition Passenger Revenue Passenger revenue is the most significant category in the Company's reported operating revenues, as outlined below: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Scheduled service $ 231,757 $ 254,545 $ 862,823 $ 775,740 Ancillary air-related charges 273,091 252,080 866,728 765,096 Loyalty redemptions 11,403 9,851 38,723 32,205 Total passenger revenue $ 516,251 $ 516,476 $ 1,768,274 $ 1,573,041 Sales of passenger tickets not yet flown are recorded in air traffic liability. Passenger revenue is recognized when the underlying service is provided. As of September 30, 2023, the air traffic liability balance was $395.8 million, of which approximately $347.1 million was related to forward bookings, with the remaining $48.7 million related to credit vouchers for future travel. The normal contract term of passenger tickets is 12 months and passenger revenue associated with future travel will principally be recognized within this time frame. Of the $379.5 million that was recorded in the air traffic liability balance as of December 31, 2022, approximately 87.2 percent was recognized into passenger revenue during the nine months ended September 30, 2023. The Company periodically evaluates the estimated amount of credit vouchers expected to expire unused and any adjustment is removed from air traffic liability and included in passenger revenue in the period in which the evaluation is complete. Estimates of passenger revenue to be recognized from air traffic liability for credit voucher breakage may be subject to variability and differ from historical experience due to the change in contract duration (for vouchers issued in 2020 and in the first half of 2021) and uncertainty regarding demand for future air travel. Loyalty redemptions In relation to the travel component of the Allways® Allegiant co-branded credit card contract with Bank of America, the Company has a performance obligation to provide cardholders with points to be used for future travel award redemptions. Therefore, consideration received from Bank of America related to the travel component is deferred based on its relative selling price and is recognized into passenger revenue when the points are redeemed and the underlying service is provided. Similarly, in relation to the Allways Rewards program, points earned through the program are deferred based on the stand-alone selling price and recognized into passenger revenue when the points are redeemed and the underlying service is provided. The following table presents the activity of the point liability for the periods indicated: Nine Months Ended September 30, (in thousands) 2023 2022 Points balance at January 1 $ 56,500 $ 40,490 Points awarded (deferral of revenue) 54,031 54,678 Points redeemed (recognition of revenue) (38,723) (32,205) Points balance at September 30 $ 71,808 $ 62,963

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	Property and Equipment The following table summarizes the Company's property and equipment as of the dates indicated: (in thousands) September 30, 2023 December 31, 2022 Flight equipment, including pre-delivery deposits $ 3,268,840 $ 2,937,767 Computer hardware and software 264,002 209,808 Land and buildings/leasehold improvements 62,197 62,227 Other property and equipment 105,988 95,156 Sunseeker Resort 563,716 320,572 Total property and equipment 4,264,743 3,625,530 Less accumulated depreciation and amortization (936,621) (814,837) Property and equipment, net $ 3,328,122 $ 2,810,693 Accrued capital expenditures as of September 30, 2023 and December 31, 2022 were $75.0 million and $54.6 million, respectively.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The following table summarizes the Company's long-term debt and finance lease obligations, net of related costs, as of the dates indicated: (in thousands) September 30, 2023 December 31, 2022 Fixed-rate debt and finance lease obligations due through 2032 $ 1,971,579 $ 1,720,998 Variable-rate debt due through 2029 314,419 375,980 Total debt and finance lease obligations 2,285,998 2,096,978 Less current maturities 265,979 152,900 Long-term debt and finance lease obligations, net of current maturities $ 2,020,019 $ 1,944,078 Weighted average fixed-interest rate on debt 6.6% 6.5% Weighted average variable-interest rate on debt 7.7% 6.1% Interest Rate(s) Per Annum at As of (in thousands) Maturity Dates September 30, 2023 September 30, 2023 December 31, 2022 Senior secured notes 2024 — 2027 7.25 % — 8.50% $ 700,000 $ 700,000 Consolidated variable interest entities 2024 — 2029 2.92 % — 4.09% 98,198 79,453 Revolving credit facilities 2024 — 2027 7.93% 195,098 30,327 Debt secured by aircraft, engines, other equipment and real estate 2025 — 2031 1.87 % — 8.11% 503,731 466,335 Finance leases 2028 — 2032 4.44 % — 7.01% 461,364 494,328 Construction loan agreement 2028 5.75% 350,000 350,000 Total debt $ 2,308,391 $ 2,120,443 Related costs (22,393) (23,465) Total debt net of related costs $ 2,285,998 $ 2,096,978 Maturities of long term debt as of September 30, 2023, for the next five years and thereafter, in the aggregate, are: (in thousands) As of September 30, 2023 Remaining in 2023 $ 28,587 2024 469,017 2025 176,767 2026 171,890 2027 704,870 2028 309,815 Thereafter 425,052 Total debt and finance lease obligations, net of related costs $ 2,285,998 Secured Term Loan On September 27, 2023, the Company, through a wholly owned subsidiary, entered into a Credit Agreement with BNP Paribas and JSA International U.S. Holdings, LLC, under which the Company is entitled to borrow up to $412.1 million. On September 29, 2023, the Company received funding of $196.4 million under the facility, which is collateralized by seven Airbus A320 aircraft. The proceeds were used in part to pay off $112.8 million of existing debt previously collateralized by the same aircraft. The $196.4 million loans funded on September 29, 2023 bear interest at a fixed rate, are to be paid in quarterly installments of principal and interest, and mature on September 29, 2031. The remaining undrawn balance of the facility will be funded upon delivery of, and collateralized by, four 737 MAX aircraft currently on order from Boeing. Future draws collateralized by 737 MAX aircraft will bear interest at a rate determined at the time of drawdown, and will have a term of twelve years. Revolving Credit Facilities In February 2023, the Company, through a wholly owned subsidiary, entered into a credit agreement with Credit Agricole Corporate and Investment Bank, under which the Company is entitled to borrow up to $100.0 million. This revolving credit facility replaced a revolving credit facility with the same lender which was to expire in March 2023. The revolving credit facility has a maturity date of March 31, 2026 and the borrowing ability is based on the value of aircraft and engines placed into the collateral pool. The notes under the facility bear interest at a floating rate based on SOFR. As of September 30, 2023, the facility remains undrawn. During the nine months ended September 30, 2023 , the Company received $164.8 million in advances on a pre-delivery payment (PDP) credit facility secured by the Company's Boeing aircraft purchase rights. The notes under the facility bear interest at a floating interest rate based on SOFR and mature on December 31, 2024 or upon delivery of the applicable aircraft. Consolidated Variable Interest Entities In February 2023, the Company, through a wholly owned subsidiary, entered into agreements with a trust to borrow $27.0 million secured by one Airbus A320 series aircraft. The trust was funded on inception. The borrowing bears interest at a fixed rate and is payable in monthly installments through February 2029, at which time the Company will have a purchase option at a fixed amount. Other Secured Debt In May 2023, the Company borrowed $92.7 million under a loan agreement secured by six Airbus A320 series aircraft. The notes bear interest at a fixed rate, payable in quarterly installments maturing in May 2028. Debt Extinguishment In June 2023, the Company made a $61.0 million prepayment to extinguish an aircraft-secured debt facility. The facility bore interest at a floating rate and had a maturity date of June 2024.

Income Taxes (Notes)

Income Taxes (Notes)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe Company recorded a $4.9 million income tax benefit at an effective tax rate of 16.3 percent and a $9.7 million income tax benefit at a 17.3 percent effective tax rate for the three months ended September 30, 2023 and 2022, respectively. The effective tax rate for the three months ended September 30, 2023 differed from the statutory Federal income tax rate of 21.0 percent primarily due to state income taxes and the impact of permanent tax differences. While the Company expects its effective tax rate to be fairly consistent in the near term, it will vary depending on recurring items such as the amount of income earned in each state and the state tax rate applicable to such income. Discrete items during interim periods may also affect the Company's tax rates.The Company recorded a $41.3 million income tax expense at an effective tax rate of 25.7 percent and a $10.9 million income tax benefit at a 17.9 percent effective tax rate for the nine months ended September 30, 2023 and 2022, respectively. The effective tax rate for the nine months ended September 30, 2023 differed from the statutory Federal income tax rate of 21.0 percent primarily due to state income taxes and the impact of permanent tax differences, none of which are individually significant.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company utilizes the market approach to measure the fair value of its financial assets. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets. The assets classified as Level 2 primarily utilize quoted market prices or alternative pricing sources including transactions involving identical or comparable assets and models utilizing market observable inputs for valuation of these securities. No changes in valuation techniques or inputs occurred during the nine months ended September 30, 2023. Financial instruments measured at fair value on a recurring basis: As of September 30, 2023 As of December 31, 2022 (in thousands) Total Level 1 Level 2 Total Level 1 Level 2 Cash equivalents Money market funds $ 165,196 $ 165,196 $ — $ 88,073 $ 88,073 $ — Commercial paper 9,940 — 9,940 50,791 — 50,791 Municipal debt securities 7,867 — 7,867 8,599 — 8,599 Total cash equivalents 183,003 165,196 17,807 147,463 88,073 59,390 Short-term Commercial paper 266,653 — 266,653 421,279 — 421,279 Federal agency debt securities 196,634 — 196,634 107,222 — 107,222 Corporate debt securities 151,610 — 151,610 166,136 — 166,136 US Treasury Bonds 23,578 — 23,578 — — — Municipal debt securities 12,738 — 12,738 30,426 — 30,426 Total short-term 651,213 — 651,213 725,063 — 725,063 Long-term Federal agency debt securities 30,994 — 30,994 20,050 — 20,050 Corporate debt securities 27,093 — 27,093 35,688 — 35,688 Municipal debt securities 13,495 — 13,495 7,580 — 7,580 Total long-term 71,582 — 71,582 63,318 — 63,318 Total financial instruments $ 905,798 $ 165,196 $ 740,602 $ 935,844 $ 88,073 $ 847,771 None of the Company's debt is publicly held and as a result, the Company has determined the estimated fair value of these notes to be Level 3. Certain inputs used to determine fair value are unobservable and, therefore, could be sensitive to changes in inputs. The Company utilizes the discounted cash flow method to estimate the fair value of Level 3 debt. Carrying value and estimated fair value of long-term debt, excluding finance leases, including current maturities and without reduction for related costs, are as follows: As of September 30, 2023 As of December 31, 2022 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Hierarchy Level Fair Value of Notes Payable $ 1,847,028 $ 1,747,427 $ 1,626,114 $ 1,561,939 3 Due to their short-term nature, the carrying amounts of cash, restricted cash, accounts receivable and accounts payable approximate fair value.

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per Share Basic and diluted earnings (loss) per share are computed pursuant to the two-class method. Under this method, the Company attributes net income (loss) to two classes: common stock and unvested restricted stock. Unvested restricted stock awards granted to employees under the Company’s Long-Term Incentive Plan are considered participating securities as they receive non-forfeitable rights to cash dividends at the same rate as common stock. Diluted net income per share is calculated using the more dilutive of the two methods. Under both methods, the exercise of employee stock options is assumed using the treasury stock method. The assumption of vesting of restricted stock, however, differs: 1. Assume vesting of restricted stock using the treasury stock method. 2. Assume unvested restricted stock awards are not vested, and allocate earnings to common shares and unvested restricted stock awards using the two-class method. For certain periods presented, basic and diluted loss per share are the same because of the loss position. The following table sets forth the computation of net income (loss) per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic: Net income (loss) $ (25,066) $ (46,459) $ 119,552 $ (49,982) Less income allocated to participating securities (452) — (4,397) — Net income (loss) attributable to common stock $ (25,518) $ (46,459) $ 115,155 $ (49,982) Earnings (loss) per share, basic $ (1.44) $ (2.58) $ 6.44 $ (2.78) Weighted-average shares outstanding 17,721 18,014 17,879 17,985 Diluted: Net income (loss) $ (25,066) $ (46,459) $ 119,552 $ (49,982) Less income allocated to participating securities (452) — (4,389) — Net income (loss) attributable to common stock $ (25,518) $ (46,459) $ 115,163 $ (49,982) Earnings (loss) per share, diluted $ (1.44) $ (2.58) $ 6.43 $ (2.78) Weighted-average shares outstanding 17,721 18,014 17,879 17,985 Dilutive effect of stock options and restricted stock — — 238 — Adjusted weighted-average shares outstanding under treasury stock method 17,721 18,014 18,117 17,985 Participating securities excluded under two-class method — — (204) — Adjusted weighted-average shares outstanding under two-class method 17,721 18,014 17,913 17,985

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	ContingenciesThe Company is subject to certain legal and administrative actions it considers routine to its business activities. The Company believes the ultimate outcome of any potential and pending legal or administrative matters will not have a material adverse impact on its financial position, liquidity or results of operations.

Segments

Segments	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segments	Segments Operating segments are components of a company for which separate financial and operating information is regularly evaluated and reported to the Chief Operating Decision Maker ("CODM"), and is used to allocate resources and analyze performance. The Company's CODM is the executive leadership team, which reviews information about the Company's two operating segments: Airline and Sunseeker Resort. Airline Segment The Airline segment operates as a single business unit and includes all scheduled service air transportation, ancillary air-related products and services, third party products and services, fixed fee contract air transportation and other airline-related revenue. The CODM evaluation includes, but is not limited to, route and flight profitability data, ancillary and third party product and service offering statistics, and fixed fee contract information when making resource allocation decisions with the goal of optimizing consolidated financial results. Sunseeker Resort Segment The Sunseeker Resort segment represents activity related to the development and construction of Sunseeker Resort in Southwest Florida, as well as the renovation of Aileron Golf Course (formerly known as Kingsway Golf Course). Plans for the resort include a 500-room hotel and two towers offering more than 180 one, two and three-bedroom suites, bar and restaurant options, and other amenities. The golf course is a short drive from the resort and is considered, from a planning and strategic perspective, to be an additional resort amenity. The construction of Sunseeker Resort is an extension of the Company's leisure travel focus and it is expected that many customers flying to Southwest Florida on Allegiant will elect to stay at this resort and enjoy its amenities. Selected information for the Company's segments and the reconciliation to the consolidated financial statement amounts are as follows: (in thousands) Airline Sunseeker Resort Consolidated Three Months Ended September 30, 2023 Operating revenue: Passenger $ 516,251 $ — $ 516,251 Third party products 30,944 — 30,944 Fixed fee contracts 17,741 — 17,741 Other 419 4 423 Operating income (loss) 5,814 (23,697) (17,883) Interest expense, net (1) 20,654 5,535 26,189 Capitalized interest (8,224) (6,664) (14,888) Depreciation and amortization 55,730 86 55,816 Capital expenditures 157,579 78,254 235,833 Three Months Ended September 30, 2022 Operating revenue: Passenger $ 516,476 $ — $ 516,476 Third party products 27,132 — 27,132 Fixed fee contracts 15,881 — 15,881 Other 836 — 836 Operating income (loss) 6,844 (37,755) (30,911) Interest expense, net (1) 20,197 4,115 24,312 Capitalized interest (1,315) (2,981) (4,296) Depreciation and amortization 50,064 28 50,092 Capital expenditures 165,814 91,076 256,890 (in thousands) Airline Sunseeker Resort Consolidated Nine Months Ended September 30, 2023 Operating revenue: Passenger $ 1,768,274 $ — $ 1,768,274 Third party products 85,886 — 85,886 Fixed fee contracts 43,599 — 43,599 Other 1,088 8 1,096 Operating income (loss) 230,894 (20,525) 210,369 Interest expense, net (1) 61,157 16,326 77,483 Capitalized interest (13,143) (15,806) (28,949) Depreciation and amortization 164,196 234 164,430 Capital expenditures 425,996 260,892 686,888 Nine Months Ended September 30, 2022 Operating revenue: Passenger $ 1,573,041 $ — $ 1,573,041 Third party products 77,399 — 77,399 Fixed fee contracts 38,186 — 38,186 Other 1,654 — 1,654 Operating income (loss) 44,902 (42,455) 2,447 Interest expense, net (1) 54,857 10,752 65,609 Capitalized interest (2,746) (4,848) (7,594) Depreciation and amortization 145,573 45 145,618 Capital expenditures 404,015 228,452 632,467 (1) Excludes losses (net of gains) on debt extinguishment of $600 thousand and $806 thousand for quarter-to-date and year-to-date 2023 respectively. During the third quarter 2022, the Company recognized a loss on debt extinguishment of $5.0 million in relation to the prepayment of its Term Loan B. Total assets were as follows as of the dates indicated: (in thousands) As of September 30, 2023 As of December 31, 2022 Airline $ 4,283,299 $ 4,047,134 Sunseeker Resort 629,037 464,163 Consolidated $ 4,912,336 $ 4,511,297

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On November 2, 2023, the Company repaid all amounts due under its $150.0 million senior secured notes due February 2024. On October 25, 2023, the Company, through a wholly owned subsidiary, entered into agreements with a trust to borrow $9 million secured by one CFM engine. The trust was funded on inception and the borrowing bears interest at a fixed imputed rate and is payable in monthly installments through October 2028, at which time the Company will have a purchase option at a fixed amount. On October 31, 2023, the Company, through a wholly owned subsidiary, entered into agreements with a trust to borrow $27 million secured by one Airbus A320 series aircraft. The trust was funded on inception and the borrowing bears interest at a fixed imputed rate and is payable in monthly installments through October 2028, at which time the Company will have a purchase option at a fixed amount. On October 31, 2023, the Company, through a wholly owned subsidiary, extended the term of its August 2022 revolving credit facility with MUFG Bank by two years to August 2025. All other terms of the agreement remain the same and the facility remains undrawn as of September 30, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
NET INCOME (LOSS)	$ (25,066)	$ (46,459)	$ 119,552	$ (49,982)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
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

Summary of Significant Accoun_2

Summary of Significant Accounting Policies - (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Allegiant Travel Company (the “Company”) and its majority-owned operating subsidiaries. The Company's investments in unconsolidated affiliates, which are 50 percent or less owned, are accounted for under the equity or cost method, and are insignificant to the consolidated financial statements. All intercompany balances and transactions have been eliminated. These unaudited consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year ended December 31, 2022 and filed with the Securities and Exchange Commission. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The Company has reclassified certain prior period amounts to conform to the current period presentation.

Special Charges (Tables)

Special Charges (Tables)	9 Months Ended
	Sep. 30, 2023
Unusual or Infrequent Items, or Both [Abstract]
Summary of Special Charges	The table below summarizes special charges recorded during the three and nine months ended September 30, 2023, and 2022. Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Sunseeker weather and related events $ 17,915 $ 35,000 $ 18,232 $ 35,000 Sunseeker weather and related events, insurance recoveries (483) — (13,634) — Accelerated depreciation on airframes identified for early retirement 15,216 142 15,230 426 Total special charges $ 32,648 $ 35,142 $ 19,828 $ 35,426

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue Recognition [Abstract]
Disaggregation of Revenue	Passenger revenue is the most significant category in the Company's reported operating revenues, as outlined below: Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Scheduled service $ 231,757 $ 254,545 $ 862,823 $ 775,740 Ancillary air-related charges 273,091 252,080 866,728 765,096 Loyalty redemptions 11,403 9,851 38,723 32,205 Total passenger revenue $ 516,251 $ 516,476 $ 1,768,274 $ 1,573,041
Contract with Customer, Contract Asset, Contract Liability, and Receivable	The following table presents the activity of the point liability for the periods indicated: Nine Months Ended September 30, (in thousands) 2023 2022 Points balance at January 1 $ 56,500 $ 40,490 Points awarded (deferral of revenue) 54,031 54,678 Points redeemed (recognition of revenue) (38,723) (32,205) Points balance at September 30 $ 71,808 $ 62,963

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The following table summarizes the Company's property and equipment as of the dates indicated: (in thousands) September 30, 2023 December 31, 2022 Flight equipment, including pre-delivery deposits $ 3,268,840 $ 2,937,767 Computer hardware and software 264,002 209,808 Land and buildings/leasehold improvements 62,197 62,227 Other property and equipment 105,988 95,156 Sunseeker Resort 563,716 320,572 Total property and equipment 4,264,743 3,625,530 Less accumulated depreciation and amortization (936,621) (814,837) Property and equipment, net $ 3,328,122 $ 2,810,693

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Summary of Long-Term Debt	The following table summarizes the Company's long-term debt and finance lease obligations, net of related costs, as of the dates indicated: (in thousands) September 30, 2023 December 31, 2022 Fixed-rate debt and finance lease obligations due through 2032 $ 1,971,579 $ 1,720,998 Variable-rate debt due through 2029 314,419 375,980 Total debt and finance lease obligations 2,285,998 2,096,978 Less current maturities 265,979 152,900 Long-term debt and finance lease obligations, net of current maturities $ 2,020,019 $ 1,944,078 Weighted average fixed-interest rate on debt 6.6% 6.5% Weighted average variable-interest rate on debt 7.7% 6.1% Interest Rate(s) Per Annum at As of (in thousands) Maturity Dates September 30, 2023 September 30, 2023 December 31, 2022 Senior secured notes 2024 — 2027 7.25 % — 8.50% $ 700,000 $ 700,000 Consolidated variable interest entities 2024 — 2029 2.92 % — 4.09% 98,198 79,453 Revolving credit facilities 2024 — 2027 7.93% 195,098 30,327 Debt secured by aircraft, engines, other equipment and real estate 2025 — 2031 1.87 % — 8.11% 503,731 466,335 Finance leases 2028 — 2032 4.44 % — 7.01% 461,364 494,328 Construction loan agreement 2028 5.75% 350,000 350,000 Total debt $ 2,308,391 $ 2,120,443 Related costs (22,393) (23,465) Total debt net of related costs $ 2,285,998 $ 2,096,978
Schedule of Maturities of Long-Term Debt	Maturities of long term debt as of September 30, 2023, for the next five years and thereafter, in the aggregate, are: (in thousands) As of September 30, 2023 Remaining in 2023 $ 28,587 2024 469,017 2025 176,767 2026 171,890 2027 704,870 2028 309,815 Thereafter 425,052 Total debt and finance lease obligations, net of related costs $ 2,285,998

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value On a Recurring Basis	Financial instruments measured at fair value on a recurring basis: As of September 30, 2023 As of December 31, 2022 (in thousands) Total Level 1 Level 2 Total Level 1 Level 2 Cash equivalents Money market funds $ 165,196 $ 165,196 $ — $ 88,073 $ 88,073 $ — Commercial paper 9,940 — 9,940 50,791 — 50,791 Municipal debt securities 7,867 — 7,867 8,599 — 8,599 Total cash equivalents 183,003 165,196 17,807 147,463 88,073 59,390 Short-term Commercial paper 266,653 — 266,653 421,279 — 421,279 Federal agency debt securities 196,634 — 196,634 107,222 — 107,222 Corporate debt securities 151,610 — 151,610 166,136 — 166,136 US Treasury Bonds 23,578 — 23,578 — — — Municipal debt securities 12,738 — 12,738 30,426 — 30,426 Total short-term 651,213 — 651,213 725,063 — 725,063 Long-term Federal agency debt securities 30,994 — 30,994 20,050 — 20,050 Corporate debt securities 27,093 — 27,093 35,688 — 35,688 Municipal debt securities 13,495 — 13,495 7,580 — 7,580 Total long-term 71,582 — 71,582 63,318 — 63,318 Total financial instruments $ 905,798 $ 165,196 $ 740,602 $ 935,844 $ 88,073 $ 847,771
Fair Value, Liabilities Measured on Recurring Basis	Carrying value and estimated fair value of long-term debt, excluding finance leases, including current maturities and without reduction for related costs, are as follows: As of September 30, 2023 As of December 31, 2022 (in thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Hierarchy Level Fair Value of Notes Payable $ 1,847,028 $ 1,747,427 $ 1,626,114 $ 1,561,939 3

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Computation of Net Income Per Share, Basic and Diluted	The following table sets forth the computation of net income (loss) per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Basic: Net income (loss) $ (25,066) $ (46,459) $ 119,552 $ (49,982) Less income allocated to participating securities (452) — (4,397) — Net income (loss) attributable to common stock $ (25,518) $ (46,459) $ 115,155 $ (49,982) Earnings (loss) per share, basic $ (1.44) $ (2.58) $ 6.44 $ (2.78) Weighted-average shares outstanding 17,721 18,014 17,879 17,985 Diluted: Net income (loss) $ (25,066) $ (46,459) $ 119,552 $ (49,982) Less income allocated to participating securities (452) — (4,389) — Net income (loss) attributable to common stock $ (25,518) $ (46,459) $ 115,163 $ (49,982) Earnings (loss) per share, diluted $ (1.44) $ (2.58) $ 6.43 $ (2.78) Weighted-average shares outstanding 17,721 18,014 17,879 17,985 Dilutive effect of stock options and restricted stock — — 238 — Adjusted weighted-average shares outstanding under treasury stock method 17,721 18,014 18,117 17,985 Participating securities excluded under two-class method — — (204) — Adjusted weighted-average shares outstanding under two-class method 17,721 18,014 17,913 17,985

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Selected information for the Company's segments and the reconciliation to the consolidated financial statement amounts are as follows: (in thousands) Airline Sunseeker Resort Consolidated Three Months Ended September 30, 2023 Operating revenue: Passenger $ 516,251 $ — $ 516,251 Third party products 30,944 — 30,944 Fixed fee contracts 17,741 — 17,741 Other 419 4 423 Operating income (loss) 5,814 (23,697) (17,883) Interest expense, net (1) 20,654 5,535 26,189 Capitalized interest (8,224) (6,664) (14,888) Depreciation and amortization 55,730 86 55,816 Capital expenditures 157,579 78,254 235,833 Three Months Ended September 30, 2022 Operating revenue: Passenger $ 516,476 $ — $ 516,476 Third party products 27,132 — 27,132 Fixed fee contracts 15,881 — 15,881 Other 836 — 836 Operating income (loss) 6,844 (37,755) (30,911) Interest expense, net (1) 20,197 4,115 24,312 Capitalized interest (1,315) (2,981) (4,296) Depreciation and amortization 50,064 28 50,092 Capital expenditures 165,814 91,076 256,890 (in thousands) Airline Sunseeker Resort Consolidated Nine Months Ended September 30, 2023 Operating revenue: Passenger $ 1,768,274 $ — $ 1,768,274 Third party products 85,886 — 85,886 Fixed fee contracts 43,599 — 43,599 Other 1,088 8 1,096 Operating income (loss) 230,894 (20,525) 210,369 Interest expense, net (1) 61,157 16,326 77,483 Capitalized interest (13,143) (15,806) (28,949) Depreciation and amortization 164,196 234 164,430 Capital expenditures 425,996 260,892 686,888 Nine Months Ended September 30, 2022 Operating revenue: Passenger $ 1,573,041 $ — $ 1,573,041 Third party products 77,399 — 77,399 Fixed fee contracts 38,186 — 38,186 Other 1,654 — 1,654 Operating income (loss) 44,902 (42,455) 2,447 Interest expense, net (1) 54,857 10,752 65,609 Capitalized interest (2,746) (4,848) (7,594) Depreciation and amortization 145,573 45 145,618 Capital expenditures 404,015 228,452 632,467 (1) Excludes losses (net of gains) on debt extinguishment of $600 thousand and $806 thousand for quarter-to-date and year-to-date 2023 respectively. During the third quarter 2022, the Company recognized a loss on debt extinguishment of $5.0 million in relation to the prepayment of its Term Loan B. Total assets were as follows as of the dates indicated: (in thousands) As of September 30, 2023 As of December 31, 2022 Airline $ 4,283,299 $ 4,047,134 Sunseeker Resort 629,037 464,163 Consolidated $ 4,912,336 $ 4,511,297

Special Charges - Narrative (De

Special Charges - Narrative (Details) $ in Thousands			1 Months Ended	3 Months Ended			9 Months Ended
	Sep. 29, 2023 Aircraft	Sep. 28, 2022 USD ($)	Sep. 30, 2023 Aircraft	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Unusual or Infrequent Item, or Both [Line Items]
Special charges, net of recoveries							$ 19,400	$ 35,426
Number of aircraft retired | Aircraft	21		2
Special charges, net of recoveries				$ 32,648		$ 35,142	19,828	$ 35,426
Boeing 2021 Agreement
Unusual or Infrequent Item, or Both [Line Items]
Special charges, net of recoveries				15,200
Hurricane Ian
Unusual or Infrequent Item, or Both [Line Items]
Non-operating special charge		$ 52,100
Additional Non-Operating Special Charge				4,100			4,400
Special charges, net of recoveries				500	$ 18,100		13,600
Unusual or infrequent item, or both, insurance proceeds				17,900			18,200
Special charges, net of recoveries				$ 17,400			4,600
Insurance recoveries							$ 31,700
Hurricane Idalia
Unusual or Infrequent Item, or Both [Line Items]
Non-operating special charge		$ 13,800

Special Charges - Summary of Sp

Special Charges - Summary of Special Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Unusual or Infrequent Items, or Both [Abstract]
Sunseeker weather and related events	$ 17,915	$ 35,000	$ 18,232	$ 35,000
Sunseeker weather and related events, insurance recoveries	(483)	0	(13,634)	0
Accelerated depreciation on airframes identified for early retirement	15,216	142	15,230	426
Total special charges	$ 32,648	$ 35,142	$ 19,828	$ 35,426

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 516,251	$ 516,476	$ 1,768,274	$ 1,573,041
Scheduled service
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	231,757	254,545	862,823	775,740
Ancillary air-related charges
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	273,091	252,080	866,728	765,096
Loyalty redemptions
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 11,403	$ 9,851	$ 38,723	$ 32,205

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Revenue Recognition [Abstract]
Contract with Customer, Liability, Current		$ 395,836	$ 379,459
Contract with Customer, Liability, Forward Bookings		34,710,000,000%
Contract with Customer, Liability, Credit Voucher Bookings		4,870,000,000%
Revenue, Performance Obligation, Description of Timing		12 months
Air Traffic Liability, Recognized	$ 379,500
Contract with Customer, Liability, Passenger Revenue		87.20%

Revenue Recognition - Contract

Revenue Recognition - Contract with Customer, Contract Asset, Contract Liability, and Receivable (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Points Liability [Abstract]
Points balance at January 1	$ 56,500	$ 40,490
Points awarded (deferral of revenue)	54,031	54,678
Points redeemed (recognition of revenue)	(38,723)	(32,205)
Points balance at September 30	$ 71,808	$ 62,963

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Flight equipment, including pre-delivery deposits		$ 3,268,840	$ 2,937,767
Computer hardware and software		264,002	209,808
Land and buildings/leasehold improvements		62,197	62,227
Other property and equipment		105,988	95,156
Sunseeker Resort		563,716	320,572
Total property and equipment		4,264,743	3,625,530
Less accumulated depreciation and amortization		936,621	814,837
Property and equipment, net		3,328,122	$ 2,810,693
Capital Expenditures Incurred but Not yet Paid	$ 54,600	$ 75,000

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Secured Long-term Debt, Noncurrent	$ 2,285,998	$ 2,096,978
Less current maturities	265,979	152,900
Long-term debt and capital leases, net of current maturities and related costs	2,020,019	1,944,078
Finance Lease, Liability	461,364	494,328
Debt and Lease Obligation	(22,393)	(23,465)
Debt Issuance Costs, Net	$ 2,285,998	2,096,978
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.44%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.01%
Weighted average fixed-interest rate on debt
Debt Instrument [Line Items]
Notes Payable	$ 1,971,579	$ 1,720,998
Long-term Debt, Weighted Average Interest Rate, at Point in Time	6.60%	6.50%
Weighted average variable-interest rate on debt
Debt Instrument [Line Items]
Notes Payable	$ 314,419	$ 375,980
Long-term Debt, Weighted Average Interest Rate, at Point in Time	7.70%	6.10%
Construction Loan Agreement Due 2032
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 350,000	$ 350,000
Debt instrument, interest rate, stated percentage	5.75%
Revolving Credit Facilities Due 2027 | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 195,098	30,327
Debt instrument, interest rate, stated percentage	7.93%
Senior Secured Notes Due 2027 | Senior Notes
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 700,000	700,000
Senior Secured Notes Due 2027 | Senior Notes | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.25%
Senior Secured Notes Due 2027 | Senior Notes | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	8.50%
Consolidated Variable Interest Entities Due 2029
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 98,198	79,453
Consolidated Variable Interest Entities Due 2029 | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.92%
Consolidated Variable Interest Entities Due 2029 | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.09%
Secured Debt By Aircraft, Engines, Other Equipment And Real Estate | Secured Debt
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 503,731	466,335
Secured Debt By Aircraft, Engines, Other Equipment And Real Estate | Secured Debt | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	1.87%
Secured Debt By Aircraft, Engines, Other Equipment And Real Estate | Secured Debt | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	8.11%
Long-term Debt [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Long-term debt and capital leases, net of current maturities and related costs	$ 2,308,391	$ 2,120,443

Long-Term Debt - Summary of Mat

Long-Term Debt - Summary of Maturities of Long-Term Debt (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Schedule of Maturities of Long-Term Debt [Abstract]
Remaining in 2023	$ 28,587
2024	469,017
2025	176,767
2026	171,890
2027	704,870
2028	309,815
Thereafter	425,052
Total debt and finance lease obligations, net of related costs	$ 2,285,998

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) $ in Thousands		1 Months Ended			3 Months Ended	9 Months Ended
	Sep. 29, 2023 USD ($) Aircraft	Jun. 30, 2023 USD ($)	May 31, 2023 USD ($) Aircraft	Feb. 28, 2023 USD ($) Aircraft	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 27, 2023 USD ($)	Feb. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 92,700
Proceeds from (repayments of) debt	$ 112,800
Debt instrument with collateralized aircraft, term	12 years
Other noncurrent liabilities					$ 3,569,191	$ 3,569,191			$ 3,290,599
A-320
Debt Instrument [Line Items]
Number of collateralized aircraft | Aircraft	7
B-737-Max
Debt Instrument [Line Items]
Number of collateralized aircraft | Aircraft	4
Consolidated Variable Interest Entity | A-320
Debt Instrument [Line Items]
Number of aircrafts included as collateral | Aircraft			6	1
Variable Interest Entity, Primary Beneficiary | Consolidated Variable Interest Entity
Debt Instrument [Line Items]
Other noncurrent liabilities				$ 27,000
Revolving Credit Facility
Debt Instrument [Line Items]
Proceeds from lines of credit						$ 164,800
Repayments of lines of credit		$ 61,000			$ 112,800
Revolving Credit Facility | BNP Paribas and JSA International U.S. Holdings, LLC
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity							$ 412,100
Line of credit, current	$ 196,400
Revolving Credit Facility | Credit Agricole Corporate and Investment Bank
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity								$ 100,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 4,853	$ 9,703	$ (41,292)	$ 10,916
Effective Income Tax Rate Reconciliation, Percent	16.30%	17.30%	25.70%	17.90%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%		21%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	$ 905,798	$ 935,844
Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	165,196	88,073
Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	740,602	847,771
Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	183,003	147,463
Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	165,196	88,073
Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	17,807	59,390
Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	651,213	725,063
Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	651,213	725,063
Long Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	71,582	63,318
Long Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Long Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	71,582	63,318
Money market funds | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	165,196	88,073
Money market funds | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	165,196	88,073
Money market funds | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Commercial paper | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	9,940	50,791
Commercial paper | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Commercial paper | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	9,940	50,791
Commercial paper | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	266,653	421,279
Commercial paper | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Commercial paper | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	266,653	421,279
Municipal debt securities | Cash Equivalents
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	7,867	8,599
Municipal debt securities | Cash Equivalents | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	0	0
Municipal debt securities | Cash Equivalents | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash Equivalents	7,867	8,599
Municipal debt securities | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	12,738	30,426
Municipal debt securities | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Municipal debt securities | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	12,738	30,426
Municipal debt securities | Long Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	13,495	7,580
Municipal debt securities | Long Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0
Municipal debt securities | Long Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	13,495	7,580
US Treasury Bonds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	23,578	0
US Treasury Bonds | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
US Treasury Bonds | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	23,578	0
Corporate debt securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	27,093	35,688
Corporate debt securities | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Corporate debt securities | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	27,093	35,688
Corporate debt securities | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	151,610	166,136
Corporate debt securities | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Corporate debt securities | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	151,610	166,136
Federal agency debt securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	30,994	20,050
Federal agency debt securities | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Federal agency debt securities | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	30,994	20,050
Federal agency debt securities | Short-Term Investments
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	196,634	107,222
Federal agency debt securities | Short-Term Investments | Fair Value, Inputs, Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	0	0
Federal agency debt securities | Short-Term Investments | Fair Value, Inputs, Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Securities, Available-for-Sale	$ 196,634	$ 107,222

Fair Value Measurements Estimat

Fair Value Measurements Estimated Fair Value of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	$ 2,285,998	$ 2,096,978
Non-Publicly Held Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured Long-term Debt, Noncurrent	1,847,028	1,626,114
Non-Publicly Held Debt | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 1,747,427	$ 1,561,939

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic:
Net income (loss)	$ (25,066)	$ (46,459)	$ 119,552	$ (49,982)
Less income allocated to participating securities	(452)	0	(4,397)	0
Net income (loss) attributable to common stock	$ (25,518)	$ (46,459)	$ 115,155	$ (49,982)
Net income per share, basic (in dollars per share)	$ (1.44)	$ (2.58)	$ 6.44	$ (2.78)
Weighted-average shares outstanding (in shares)	17,721	18,014	17,879	17,985
Diluted:
Net income (loss)	$ (25,066)	$ (46,459)	$ 119,552	$ (49,982)
Less income allocated to participating securities	(452)	0	(4,389)	0
Net income (loss) attributable to common stock	$ (25,518)	$ (46,459)	$ 115,163	$ (49,982)
Earnings (loss) per share, diluted (in dollars per share)	$ (1.44)	$ (2.58)	$ 6.43	$ (2.78)
Weighted-average shares outstanding ( in shares)	17,721	18,014	17,879	17,985
Dilutive effect of stock options and restricted stock (in shares)	0	0	238	0
Adjusted weighted-average shares outstanding under treasury stock method (in shares)	17,721	18,014	18,117	17,985
Participating securities excluded under two-class method (in shares)	0	0	(204)	0
Adjusted weighted-average shares outstanding under two-class method (in shares)	17,721	18,014	17,913	17,985

Segments - Narrative (Details)

Segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 hotel_tower segment Aircraft suite
Segment Reporting Information [Line Items]
Number of Operating Segments | segment	2
Anticipated Number Of One, Two, and Three-Bedroom Suites | suite	180
Sunseeker Resort
Segment Reporting Information [Line Items]
Anticipated Number Of Hotel Rooms | Aircraft	500
Anticipated Number Of Hotel Towers | hotel_tower	2

Segments - Schedule of Segment

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Passenger	$ 516,251	$ 516,476	$ 1,768,274	$ 1,573,041
Third party products	30,944	27,132	85,886	77,399
Fixed fee contracts	17,741	15,881	43,599	38,186
Other	423	836	1,096	1,654
Operating income (loss)	(17,883)	(30,911)	210,369	2,447
Interest expense, net(1)	26,189	24,312	77,483	65,609
Capitalized interest	(14,888)	(4,296)	(28,949)	(7,594)
Depreciation and amortization	55,816	50,092	164,430	145,618
Capital expenditures	235,833	256,890	686,888	632,467
Assets	4,912,336		4,912,336		$ 4,511,297
Loss on debt extinguishment	600	5,000	806
Airline
Segment Reporting Information [Line Items]
Passenger	516,251	516,476	1,768,274	1,573,041
Third party products	30,944	27,132	85,886	77,399
Fixed fee contracts	17,741	15,881	43,599	38,186
Other	419	836	1,088	1,654
Operating income (loss)	5,814	6,844	230,894	44,902
Interest expense, net(1)	20,654	20,197	61,157	54,857
Capitalized interest	(8,224)	(1,315)	(13,143)	(2,746)
Depreciation and amortization	55,730	50,064	164,196	145,573
Capital expenditures	157,579	165,814	425,996	404,015
Assets	4,283,299		4,283,299		4,047,134
Sunseeker Resort
Segment Reporting Information [Line Items]
Passenger	0	0
Third party products	0	0
Fixed fee contracts	0	0
Other	4	0	8	0
Operating income (loss)	(23,697)	(37,755)	(20,525)	(42,455)
Interest expense, net(1)	5,535	4,115	16,326	10,752
Capitalized interest	(6,664)	(2,981)	(15,806)	(4,848)
Depreciation and amortization	86	28	234	45
Capital expenditures	78,254	$ 91,076	260,892	$ 228,452
Assets	$ 629,037		$ 629,037		$ 464,163

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Oct. 31, 2023 USD ($) Aircraft	Oct. 03, 2023 USD ($)	Nov. 01, 2023 USD ($) Aircraft	May 31, 2023 USD ($)
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity				$ 92.7
Subsequent Event
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity			$ 158
Line of credit facility, expiration period	2 years
Number Of Aircraft Committed To Purchase | Aircraft			8
Subsequent Event | CFM Engine
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 9
Number of secured engine | Aircraft	1
Subsequent Event | Airbus A320 Series Aircraft
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 27
Number of secured aircraft | Aircraft	1
Senior Notes | Subsequent Event
Subsequent Event [Line Items]
Repayments of debt		$ 150