XML 11 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Operating revenues:        
Contract revenue $ 110,793 $ 114,691 $ 361,152 $ 383,699
Operating expenses:        
Flight operations 45,455 51,557 146,602 164,707
Maintenance 44,266 51,072 137,165 145,344
Aircraft rent 1,684 864 4,296 5,782
General and administrative 9,715 11,346 32,857 38,872
Depreciation and amortization 9,730 15,316 32,846 47,060
Asset impairment 7,880 30,489 50,923 50,951
(Gain) on extinguishment of debt     (2,954)  
Loss/(Gain) on sale of assets   (6,722) 150 (7,271)
Other operating expenses 1,090 999 5,098 2,358
Total operating expenses 119,820 154,921 409,937 447,803
Operating loss (9,027) (40,230) (48,785) (64,104)
Other income (expense), net:        
Interest expense (9,032) (12,015) (30,832) (36,321)
Interest income 17 8 45 128
(Loss)/Gain on investments (776)   6,454  
Unrealized (loss)/gain on investments, net (2,025) 2,859 (6,073) 3,275
Gain on debt forgiveness     10,500  
Other income (expense), net 125 (946) (234) (540)
Total other expense, net (11,691) (10,094) (17,186) (33,458)
Loss before taxes (20,718) (50,324) (65,971) (97,562)
Income tax (benefit)/expense (810) (2,764) 126 (5,791)
Net loss and comprehensive loss $ (19,908) $ (47,560) $ (66,097) $ (91,771)
Net loss per share attributable to common shareholders        
Basic $ (0.48) $ (1.17) $ (1.61) $ (2.35)
Diluted $ (0.48) $ (1.17) $ (1.61) $ (2.35)
Weighted-average common shares outstanding        
Basic 41,217 40,688 41,075 38,986
Diluted 41,217 40,688 41,075 38,986
Contract Revenue        
Operating revenues:        
Contract revenue $ 95,596 $ 94,356 $ 310,516 $ 326,588
Pass Through and Other Revenue        
Operating revenues:        
Contract revenue $ 15,197 $ 20,335 $ 50,636 $ 57,111