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Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue
6. Revenue
Disaggregation of Revenue
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:
Year Ended December 31,
(In thousands)20232022
Services transferred at a point in time:
Flights$303,299 $314,039 
Services transferred over time:
Memberships5,458 3,939 
MRO4,606 1,556 
Fractional ownership purchase price1,999 508 
$315,362 $320,042 
Transaction Price
The transaction prices for each of the primary revenue streams are as follows:
•Jet Club and Charter – Membership fees (less credits issued), and flight related charges based on trips flown
•Guaranteed Revenue Program – Fleet minimums with additional charges for flight services over the guarantee
•MRO – Time and materials incurred for services performed
•Fractional Ownership – The portion of fractional interest purchase price (less credits issued) allocated to revenue, and flight related charges based on trips flown
The following tables provide a rollforward of deferred revenue:
(In thousands)Amount
Balance as of December 31, 2021$32,795 
Revenue recognized(179,355)
Revenue deferred207,162 
Balance as of December 31, 202260,602 
Revenue recognized(185,908)
Revenue deferred219,246 
Balance as of December 31, 2023$93,940 
The increase in deferred revenue at December 31, 2023 compared to December 31, 2022 is due to increased customer billings for services relating to timing of satisfaction of the Company’s performance obligations.
7. Revenue
Disaggregation of Revenue
The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Services transferred at a point in time:
Flights$74,384 $97,428 $150,504 $172,029 
Services transferred over time:
Memberships1,339 1,437 2,806 2,915 
MRO2,244 1,113 3,734 1,817 
Fractional ownership purchase price1,046 360 1,941 609 
$79,013 $100,338 $158,985 $177,370 
Transaction Price
The transaction prices for each of the primary revenue streams are as follows:
•Jet Club and Charter – Membership fees (less credits issued), and flight related charges based on trips flown
•Guaranteed Revenue Program – Fleet minimums with additional charges for flight services over the guarantee
•MRO – Time and materials incurred for services performed
•Fractional Ownership – The portion of fractional interest purchase price allocated to revenue, and flight related charges based on trips flown
The following tables provide a rollforward of deferred revenue for the six months ended June 30, 2024:
Amount
Balance as of December 31, 2023$93,940 
Revenue recognized127,990 
Revenue deferred(130,787)
Balance as of June 30, 2024$91,143