March 31,

September 30,

2023

2022

Senior and subordinated notes payable to secured parties, due in monthly installments, interest based on LIBOR plus interest spread at 2.71% through 2027, collateralized by the underlying aircraft

$

68,521

$

73,850

Notes payable to secured parties, due in semi-annual installments, interest based on LIBOR plus interest spread at 4.75% to 6.25% through 2028, collateralized by the underlying aircraft

120,054

131,010

Notes payable to secured parties, due in quarterly installments, interest based on LIBOR plus interest at spread 2.20% to 2.32% for senior note & 4.50% for subordinated note through 2028, collateralized by the underlying aircraft

98,705

106,865

Revolving credit facility, quarterly interest based on SOFR plus interest spread at 4.50% through 2028, with incentives for up to $15 million based on achieving certain performance metrics

30,630

15,630

United Bridge Loan - due in quarterly installments based on SOFR plus interest spread at 4.50% through 2024

10,500

-

Other obligations due to financial institution, monthly and/or quarterly interest due from 2022 through 2031, collateralized by the underlying equipment

76,250

18,038

Notes payable to financial institution, due in monthly installments, interest based on LIBOR plus interest spread at 3.10% through 2024, collateralized by the underlying equipment

12,389

26,758

Notes payable to financial institution, due in monthly installments, plus interest spread at 5.00% through 2023, secured by flight equipment

—

2,000

Notes payable to financial institution, due in monthly installments, interest based on fixed interest of 7.50%, through 2027, collateralized by the underlying equipment

45,777

36,212

Notes payable to financial institution, quarterly interest based on LIBOR plus interest spread at 3.50% through 2027

158,760

204,947

Gross long-term debt, including current maturities

621,586

615,310

Less unamortized debt issuance costs

(6,798

)

(8,303

)

Less notes payable warrants

(6,096

)

(7,272

)

Net long-term debt, including current maturities

608,692

599,735

Less current portion, net of unamortized debt issuance costs

(145,046

)

(97,218

)

Net long-term debt

$

463,646

$

502,517