They paid down debt from $1billion worth of assets sold and ticket receipts that were not used during the covid period. Hence why planes are full now in domestic at 75% capacity yet revenue is only 30% of pre-covid ($5billion this year vs $15 Billion pre covid). The sale of assets to remove debt leading to a worse NTA than when debt was higher as its a poor way to recover owed monies with fire sales of assets. Rex increase in Debt has barely affected its net tangible asset score because the debt was invested into company expansion and operations.