XML 169 R35.htm IDEA: XBRL DOCUMENT
v3.25.2

Summary of Significant Accounting Policies (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Accounting Policies [Abstract] |  |
Schedule of Property and Equipment Useful Lives | Property and equipment, net consisted of the following:
|  | March 31, 2025 |  |  | December 31, 2024 |
Transportation equipment |  | $ | 312,583 |  |  | $ | 329,416 |
Office furniture and equipment |  |  | 3,216 |  |  |  | 3,216 |
Leasehold improvements |  |  | 2,385 |  |  |  | 2,328 |
Construction in progress |  |  | 236 |  |  |  | 236 |
Deposits on transportation equipment |  |  | 17,269 |  |  |  | 14,165 |
|  |  | 335,689 |  |  |  | 349,361 |
Less: Accumulated depreciation |  |  | (91,723 | ) |  |  | (89,487 | )
Property and equipment, net |  | $ | 243,966 |  |  | $ | 259,874 |
| Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets as follows:
|  | Estimated Useful Life |
Transportation equipment |  | 5-20 years |
Office furniture and equipment |  | 3-10 years |
Leasehold improvements |  | Shorter of remaining lease term or useful life |
Property and equipment, net consisted of the following:
|  |  | December 31, 2024 |  |  |  | December 31, 2023 |
Transportation equipment |  | $ | 329,416 |  |  | $ | 311,584 |
Office furniture and equipment |  |  | 3,216 |  |  |  | 3,131 |
Leasehold improvements |  |  | 2,328 |  |  |  | 2,306 |
Construction in progress |  |  | 236 |  |  |  | 147 |
Deposits on transportation equipment |  |  | 14,165 |  |  |  | 23,923 |
|  |  | 349,361 |  |  |  | 341,091 |
Less: Accumulated depreciation |  |  | (89,487 | ) |  |  | (87,115 | )
Property and equipment, net |  | $ | 259,874 |  |  | $ | 253,976 |
Schedule of Held For Sale Activity | The following table summarizes the Company's held for sale activity during the three months ended March 31, 2025:
|  | Three Months Ended March 31, |
|  | 2025 |
Aircraft held for sale as of December 31, 2024 |  | $ | 11,871 |
Aircraft held for sale sold |  |  | — |
Aircraft reclassified to held for sale |  |  | 605 |
Impairment gain (loss) due to fair value adjustments |  |  | (197 | )
Aircraft held for sale as of March 31, 2025 |  | $ | 12,279 |
| The following table summarizes the Company's held for sale activity during year ended December 31, 2024:
|  |  | Year Ended December 31, 2024 |
Aircraft held for sale as of December 31, 2023 |  | $ | — |
Aircraft sold |  |  | (27,327) |
Aircraft reclassified to held for sale |  |  | 42,960 |
Less: Impairment loss due to fair value adjustments |  |  | 3,762 |
Aircraft held for sale as of December 31, 2024 |  | $ | 11,871 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483475/205-20-45-11 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5B -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5D -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 205 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-1 Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration