XML 22 R15.htm IDEA: XBRL DOCUMENT
v3.25.2

Balance Sheet Information | 9 Months Ended
--- | ---
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Information | 6. Balance Sheet Information Certain significant amounts included in the condensed consolidated balance sheets consisted of the following (in thousands):
|  | June 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |
Expendable parts and supplies, net: |  |  |  |  |  |
Expendable parts and supplies |  | $ | 23,441 |  |  | $ | 39,089 |
Less: expendable parts warranty |  |  | (4,355 | ) |  |  | (6,079 | )
Less: obsolescence |  |  | (2,914 | ) |  |  | (4,738 | )
|  | $ | 16,172 |  |  | $ | 28,272 |
Property and equipment, net: |  |  |  |  |  |
Aircraft and other flight equipment |  | $ | 50,104 |  |  | $ | 591,421 |
Other equipment |  |  | 9,588 |  |  |  | 9,503 |
Total property and equipment |  |  | 59,692 |  |  |  | 600,924 |
Less: accumulated depreciation |  |  | (27,842 | ) |  |  | (174,573 | )
|  | $ | 31,850 |  |  | $ | 426,351 |
Other assets: |  |  |  |  |  |
Investments in equity securities |  | $ | 350 |  |  | $ | 300 |
Lease incentives |  |  | — |  |  |  | 812 |
Contract asset |  |  | 4,441 |  |  |  | 6,081 |
Other |  |  | 675 |  |  |  | 516 |
|  | $ | 5,466 |  |  | $ | 7,709 |
Other accrued expenses: |  |  |  |  |  |
Accrued property taxes |  | $ | 2,483 |  |  | $ | 4,650 |
Accrued interest |  |  | 1,029 |  |  |  | 2,997 |
Accrued vacation |  |  | 6,497 |  |  |  | 7,421 |
Accrued lodging |  |  | 4,092 |  |  |  | 4,433 |
Accrued maintenance |  |  | 1,415 |  |  |  | 2,493 |
Accrued employee benefits |  |  | 1,550 |  |  |  | 1,075 |
Accrued fleet operating expense |  |  | 412 |  |  |  | 2,751 |
Other |  |  | 5,537 |  |  |  | 6,488 |
|  | $ | 23,015 |  |  | $ | 32,308 |
Other noncurrent liabilities: |  |  |  |  |  |
Warrant liabilities |  | $ | 100 |  |  | $ | 25,225 |
Lease incentive obligations |  |  | — |  |  |  | 1,050 |
Long-term employee benefits |  |  | 1,737 |  |  |  | 485 |
Other |  |  | — |  |  |  | 1,819 |
|  | $ | 1,837 |  |  | $ | 28,579 |
Impairment of Long-lived Assets The Company monitors for any indicators of impairment of the long-lived fixed assets. When certain conditions or changes in the economic situation exist, the assets may be impaired and the carrying amount of the assets exceed their fair value. The assets are then tested for recoverability of carrying amount. The Company records impairment charges on long-lived assets used in operations when events and circumstances indicate that the assets may be impaired, the undiscounted net cash flows estimated to be generated by those assets are less than the carrying amount of those assets, and the net book value of the assets exceeds their estimated fair value. We group assets at the capacity purchase agreement level (i.e., the lowest level for which there are identifiable cash flows). If impairment indicators exist with respect to any of the asset groups, we estimate future cash flows based on projections of capacity purchase or flight services agreement, block hours, maintenance events, labor costs and other relevant factors. During the three months ended June 30, 2025, the Company assessed whether any indicators of impairment existed in any of our long-lived asset groups and noted that no indicators of impairment existed for our fleet. During the three months ended June 30, 2025, the Company reevaluated the fair value of our held for sale assets and recorded a net impairment true-up adjustment gain of $0.1 million. No other indicators of impairment were present during the quarter and no further steps were determined to be necessary. The Company’s assumptions about future conditions relevant to the assessment of potential impairment of its long-lived assets are subject to uncertainty, and the Company will continue to monitor these conditions in future periods as new information becomes available, and will update its analyses accordingly. Depreciation Expense on Property and Equipment: Depreciation of property and equipment totaled $3.4 million and $9.7 million for the three months ended June 30, 2025 and June 30, 2024, respectively, and $17.3 million and $32.8 million for the nine months ended June 30, 2025 and June 30, 2024, respectively.

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration