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Long-Term Debt, Finance Leases, and Other Borrowings (Tables) | 9 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt as of June 30, 2024 and September 30, 2023, consisted of the following (in thousands):
|  | June 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |
Senior and subordinated notes payable to secured parties, due in monthly installments, interest based on SOFR plus interest spread at 2.71% through 2027, collateralized by the underlying aircraft |  | $ | — |  |  | $ | 39,018 |
Notes payable to secured parties, due in semi-annual installments, interest based on SOFR plus interest spread at 4.75% to 6.25% through 2028, collateralized by the underlying aircraft |  |  | 97,287 |  |  |  | 108,815 |
Notes payable to secured parties, due in quarterly installments, interest based on SOFR plus interest at spread 2.20% to 2.32% for senior note & 4.50% for subordinated note through 2028, collateralized by the underlying aircraft |  |  | 78,201 |  |  |  | 90,401 |
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, of which $10.5 million has been achieved |  | 38,020 |  |  |  | 40,630 |
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 |  |  | 30,691 |  |  |  | 67,637 |
Notes payable to financial institution, due in monthly installments, interest based on SOFR plus interest spread at 3.10% through 2024, collateralized by the underlying equipment |  |  | — |  |  |  | 1,075 |
Notes payable to financial institution, due in monthly installments, interest based on fixed interest of 7.50%, through 2024, collateralized by the underlying equipment |  |  | — |  |  |  | 41,098 |
Notes payable to financial institution, quarterly interest based on SOFR plus interest spread at 3.50% through 2027 |  |  | 122,155 |  |  |  | 139,100 |
Gross long-term debt, including current maturities |  |  | 366,354 |  |  |  | 538,274 |
Less unamortized debt issuance costs |  |  | (2,693 | ) |  |  | (5,083 | )
Less notes payable warrants |  |  | (3,143 | ) |  |  | (4,913 | )
Net long-term debt, including current maturities |  |  | 360,518 |  |  |  | 528,278 |
Less current portion, net of unamortized debt issuance costs |  |  | (72,769 | ) |  |  | (163,550 | )
Net long-term debt |  | $ | 287,749 |  |  | $ | 364,728 |
Schedule of Principal Maturities of Long-term Debt | Principal maturities of long-term debt as of June 30, 2024, and for each of the next five years are as follows (in thousands):
Periods Ending September 30, |  | Total Principal |
2024 (remainder of) |  | $ | 42,834 |
2025 |  |  | 50,481 |
2026 |  |  | 175,046 |
2027 |  |  | 52,625 |
2028 |  |  | 30,926 |
Thereafter |  |  | 14,442 |
|  | $ | 366,354 |

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