Assets Held for Sale	9 Months Ended
Jun. 30, 2023
Discontinued Operations And Disposal Groups [Abstract]
Assets Held for Sale	6. Assets Held for Sale During 2022, our management committed to a formal plan to sell certain of our CRJ-900, CRJ-200, and CRJ-700 aircraft. Accordingly, we determined the aircraft met the criteria to be classified as assets held for sale and have separately presented them in our condensed consolidated balance sheet at the lower of their current carrying value or their fair market value less costs to sell. The fair values are based upon observable and unobservable inputs, including recent purchase offers and market trends and conditions. The assumptions used to determine the fair value of our assets held for sale are subject to inherent uncertainty and could produce a wide range of outcomes which we will continue to monitor in future periods as new information becomes available. Prior to the ultimate sale of the assets, subsequent changes in our estimate of the fair value of our assets held for sale will be recorded as a gain or loss with a corresponding adjustment to the assets’ carrying value. During the three months ended June 30, 2023, the Company closed on the sale of 20 spare engines to United. The approximate gross proceeds from the sale was $53.7 million and generated approximately $26.9 million of net proceeds after partial debt reduction. This transaction completed the sale of the 30 engines to United under the Engine Sale Agreement entered into on December 27, 2022, as previously reported. The Company recorded a gain on the sale of the engines of $6.7 million for the 20 sold during the quarter, and $7.3 million for all 30. During the three months ended June 30, 2023, seven (7) CRJ-900 aircraft were designated as held for sale. The Company wrote down the value of the aircraft to the agreed upon sales price and recorded an impairment loss of $30.5 million. As of June 30, 2023, the Company has 21 CRJ-900 aircraft and one (1) CRJ-200 aircraft that are classified as assets held for sale with a net book value of $112.0 million, which is reflected within assets held for sale on our condensed consolidated balance sheet.

Assets Held for Sale

9 Months Ended

Jun. 30, 2023

Discontinued Operations And Disposal Groups [Abstract]

During 2022, our management committed to a formal plan to sell certain of our CRJ-900, CRJ-200, and CRJ-700 aircraft. Accordingly, we determined the aircraft met the criteria to be classified as assets held for sale and have separately presented them in our condensed consolidated balance sheet at the lower of their current carrying value or their fair market value less costs to sell. The fair values are based upon observable and unobservable inputs, including recent purchase offers and market trends and conditions. The assumptions used to determine the fair value of our assets held for sale are subject to inherent uncertainty and could produce a wide range of outcomes which we will continue to monitor in future periods as new information becomes available. Prior to the ultimate sale of the assets, subsequent changes in our estimate of the fair value of our assets held for sale will be recorded as a gain or loss with a corresponding adjustment to the assets’ carrying value.

During the three months ended June 30, 2023, the Company closed on the sale of 20 spare engines to United. The approximate gross proceeds from the sale was $53.7 million and generated approximately $26.9 million of net proceeds after partial debt reduction. This transaction completed the sale of the 30 engines to United under the Engine Sale Agreement entered into on December 27, 2022, as previously reported. The Company recorded a gain on the sale of the engines of $6.7 million for the 20 sold during the quarter, and $7.3 million for all 30.

During the three months ended June 30, 2023, seven (7) CRJ-900 aircraft were designated as held for sale. The Company wrote down the value of the aircraft to the agreed upon sales price and recorded an impairment loss of $30.5 million.

As of June 30, 2023, the Company has 21 CRJ-900 aircraft and one (1) CRJ-200 aircraft that are classified as assets held for sale with a net book value of $112.0 million, which is reflected within assets held for sale on our condensed consolidated balance sheet.