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Property and Equipment, Net | 6 Months Ended | 12 Months Ended
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Jun. 30, 2025 | Dec. 31, 2024
Property, Plant and Equipment [Abstract] |  |
Property and Equipment, Net | 12. Property and Equipment, Net Property and equipment, net consisted of the following:
|  | June 30, 2025 |  |  | December 31, 2024 |
Transportation equipment |  | $ | 303,458 |  |  | $ | 329,416 |
Office furniture and equipment |  |  | 3,216 |  |  |  | 3,216 |
Leasehold improvements |  |  | 2,407 |  |  |  | 2,328 |
Construction in progress |  |  | 236 |  |  |  | 236 |
Deposits on transportation equipment |  |  | 17,269 |  |  |  | 14,165 |
|  |  | 326,586 |  |  |  | 349,361 |
Less: Accumulated depreciation |  |  | (93,805 | ) |  |  | (89,487 | )
Property and equipment, net |  | $ | 232,781 |  |  | $ | 259,874 |
Depreciation expense of property and equipment was $5,247 and $10,974, respectively for the three and six months ended June 30, 2025 and $6,338 and $12,517 for the three and six months ended June 30, 2024. The net carrying value of disposals of long-lived assets as of June 30, 2025 and December 31, 2024 was $21,853 and $23,449, respectively. Interest payments on borrowings to acquire aircraft are capitalized for the month of acquisition when the aircraft’s in-service date begins following the 15th of the month. Interest payments for the month of acquisition would be expensed if the aircraft is placed into service before the 15th of the month. There was no capitalized interest as of June 30, 2025 and December 31, 2024, and was included as a component of construction in progress prior to the equipment’s in-service date. | 12. Property and Equipment, Net 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 |
Depreciation expense of property and equipment for the years ended December 31, 2024 and 2023, was $23,740 and $25,833, respectively. The net carrying value of disposals of long-lived assets as of December 31, 2024 and 2023 was $23,449 and $66,986, respectively. Interest payments on borrowings to acquire aircraft are capitalized for the month of acquisition when the aircraft’s in-service date begins following the 15th of the month. (Interest payments for the month of acquisition would be expensed if the aircraft is placed into service before the 15th of the month). Capitalized interest was zero for both periods ending December 31, 2024 and December 31, 2023 and was included as a component of construction in progress prior to the equipment’s in-service date.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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