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Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Outstanding Short-Term Notes Payable
The components of the Company’s outstanding Short-term notes payable consisted of the following:
Weighted
average
interest rates		December 31,
2023		December 31,
2022
Short-term notes payable
Bank 27.5 %14,400 3,756 
Less: Unamortized debt issuance costs(4)(52)
Total short-term notes payable$14,396 $3,704 
The components of the Company’s outstanding Short-term notes payable consisted of the following:
Interest
Rates		June 30,
2024		December 31,
2023
Short-term notes payable
Bank 27.8 %$6,185 $14,400 
Less: Unamortized debt issuance costs(26)(4)
Total short-term notes payable$6,159 $14,396 
Schedule of Long-Term Debt
The components of the Company’s outstanding long-term debt consisted of the following:
Interest RatesAmountsMaturity Dates
December 31, 2023December 31, 2022December 31, 2023December 31, 2022December 31, 2023December 31, 2022
Long-term notes payable with banks for the purchase of aircrafts
Bank 1
4.0% - 7.3%
4.0% - 5.5%
$13,589 $24,275 
Aug 2025 - Feb 2027
Aug 2023 - Sep 2026
Bank 2
4.0% - 7.8%
4.0% - 6.3%
13,769 15,518 
Dec 2025 - Jun 2028
Jun 2023 - Nov 2027
Bank 3
3.5% Fixed - 2.3% + SOFR**
3.5% Fixed - 2.2% + LIBOR†
7,705 8,721 
Jan 2024 - Oct 2026
Apr 2023 - Oct 2026
Bank 4
2.9% + SOFR**
2.8% + LIBOR†
4,082 4,440 
Sep 2024 - Dec 2024
Sep 2024 - Dec 2024
Bank 5
5.3% - 6.0%*
5.3% - 6.0% + LIBOR* †
3,759 4,204 
Jul 2030 - Sep 2030
Jul 2030 - Sep 2030
Bank 67.7%5.4%1,843 2,114 Jan 2030Jan 2024
Bank 74.0%4.0%1,061 1,320 Sep 2027Sep 2027
Long-term notes payable with financial institutions for the purchase of aircrafts
Financial Institution 1
0.25% + Schwab Loan Rate
5.3%3,290 3,650 Dec 2027Dec 2027
Financial Institution 2
3.6% - 7.0%
3.6% - 7.0%
8,435 17,882 
Nov 2026 - May 2027
Mar 2026 - Jun 2027
Financial Institution 3
9.0% - 9.5%
n/a22,612 — 
Sep 2033 - Dec 2033
n/a
Credit facilities with financial institutions
Financial Institution 4
1.3% + SOFR** - 2.8% + SOFR**
2.3% + LIBOR † - 2.8% + SOFR**
72,688 32,153 See disclosure
below		See disclosure below
Bridge Notesn/a10.0%n/a86,816 See disclosure
below		See disclosure below
Other long-term debt payable
EID loanSee disclosure belowSee disclosure below116 122 See disclosure
below		See disclosure below
Long-term debt from VIEs40,491 46,403 
Total Long-term notes payable193,440 247,618 
Less: Unamortized debt issuance costs and debt discount(151)(1,717)
Less: current portion(26,471)(23,581)
Long-term notes payable, non-current portion$166,818 $222,320 
__________________
*The payment terms dictate that the Note shall bear interest at a rate equal to the Prime Rate plus 275 basis points with an initial interest rate set at 6% based on the Prime Rate and Loan Spread at the time of the agreement. The interest rate is to be adjusted every 5 years and be based on the Prime Rate published as of the date plus the Loan Spread.
†LIBOR is defined as the "London Interbank Offer Rate".
**SOFR is defined as “Secured Overnight Financing Rate” .
The components of the Company’s outstanding long-term debt consisted of the following:
Interest RatesAmountsMaturity Dates
June 30, 2024December 31, 2023June 30, 2024December 31, 2023June 30, 2024December 31, 2023
Long-term notes payable with banks for the purchase of aircrafts
Bank 1
4.0% - 7.3%
4.0% - 7.3%
$16,707 $13,589 
Sep 2025 - Feb 2029
Aug 2025 - Feb 2027
Bank 2
4.0% - 7.8%
4.0% - 7.8%
13,093 13,769 
Dec 2025 - Apr 2029
Dec 2025 - Jun 2028
Bank 3
Fixed - 2.3% + SOFR**
3.5% Fixed - 2.3% + SOFR**
1,736 7,705 Feb 2026
Jan 2024 - Oct 2026
Bank 4N/A
2.9% + SOFR**
— 4,082 N/A
Sep 2024 - Dec 2024
Bank 5
5.3% - 6.0%*
5.3% - 6.0%*
3,527 3,759 
Jul 2030 - Sep 2030
Jul 2030 - Sep 2030
Bank 67.7%7.7%1,741 1,843 Jan 2030Jan 2030
Bank 74.0%4.0%927 1,061 Sep 2027Sep 2027
Bank 88.8%n/a12,568 — May 2029
Long-term notes payable with financial institutions for the purchase of aircrafts
Financial Institution 1
0.25% + Schwab Loan Rate
0.25% + Schwab Loan Rate
3,140 3,290 Dec 2027Dec 2027
Financial Institution 2
3.6% - 7.0%
3.6% - 7.0%
8,123 8,435 
Nov 2026 - May 2027
Nov 2026 - May 2027
Financial Institution 3
9.0% - 9.5%
9.0% - 9.5%
35,607 22,612 
Sep 2030 - Mar 2034
Sep 2033 - Dec 2033
Credit facilities with financial institutions
Financial Institution 4
1.3% + SOFR** - 2.8% + SOFR**
1.3% + SOFR** - 2.8% + SOFR**
70,378 72,688 See disclosure
below		See disclosure below
Bridge Notesn/an/an/an/aSee disclosure
below		See disclosure below
Other long-term debt payable
EID loanSee disclosure belowSee disclosure below122 116 See disclosure
below		See disclosure below
Long-term debt from VIEs38,915 40,491 
Total Long-term notes payable206,584 193,440 
Less: Unamortized debt issuance costs and debt discount(271)(151)
Less: current portion(22,753)(26,471)
Long-term notes payable, non-current portion$183,560 $166,818 
__________________
*The payment terms dictate that the Note shall bear interest at a rate equal to the Prime Rate plus 275 basis points with an initial interest rate set at 6% based on the Prime Rate and Loan Spread at the time of the agreement. The interest rate is to be adjusted every 5 years and be based on the Prime Rate published as of the date plus the Loan Spread.
**SOFR is defined as “Secured Overnight Financing Rate”
Schedule of Contractual Principal Payments
The table below presents the Company’s contractual principal payments (not including debt issuance costs) as of December 31, 2023 under then-outstanding long-term debt agreements in each of the next five calendar years (does not include VIE loans):
Fiscal yearAmount
2024$23,408 
202575,500 
202621,309 
202712,719 
20282,528 
Thereafter17,485 
152,949 
Long-term notes payable from VIE40,491 
Debt issuance costs(151)
Total long-term notes payable$193,289 
The table below presents the Company’s contractual principal payments (not including debt issuance costs) as of June 30, 2024 under then-outstanding long-term debt agreements in each of the next five calendar years (does not include VIE loans):
Fiscal yearAmount
2024$12,008 
202575,989 
202616,847 
202711,772 
20284,523 
Thereafter46,530 
167,669 
Long-term notes payable from VIE38,915 
Debt issuance costs(271)
Total long-term notes payable$206,313