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