December 31,

September 30,

2024

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

$

85,469

$

85,469

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

—

73,884

Revolving credit facility, quarterly interest based on SOFR plus interest spread at 4.50% through 2028

33,018

37,520

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

—

4,681

Notes payable to the UST, quarterly interest based on SOFR plus interest spread at 3.50% through 2025

112,121

113,656

Gross long-term debt, including current maturities

230,608

315,210

Less unamortized debt issuance costs

(1,433

)

(2,395

)

Less notes payable warrants

(2,114

)

(2,544

)

Net long-term debt, including current maturities

227,061

310,271

Less current portion, net of unamortized debt issuance costs

(143,275

)

(50,455

)

Net long-term debt

$

83,786

$

259,816