Certain significant amounts included in the condensed consolidated balance sheets consisted of the following (in thousands):


	September 30,			December 31,
	2025			2024
Expendable parts and supplies, net:
Expendable parts and supplies	$	24,004		$	39,404
Less: expendable parts warranty		(4,145	)		(5,574	)
Less: obsolescence		(3,230	)		(4,658	)
	$	16,629		$	29,172
Property and equipment, net:
Aircraft and other flight equipment	$	50,355		$	319,831
Other equipment		9,529			9,788
Total property and equipment		59,884			329,619
Less: accumulated depreciation		(28,385	)		(126,052	)
	$	31,499		$	203,567
Other assets:
Investments in equity securities	$	300		$	300
Contract asset		3,942			5,400
Other		860			1,129
	$	5,102		$	6,829
Other accrued expenses:
Accrued property taxes	$	2,815		$	4,722
Accrued interest		981			3,207
Accrued vacation		6,123			7,308
Accrued lodging		3,287			3,847
Accrued simulator costs		659			543
Accrued maintenance		1,830			1,911
Accrued employee benefits		1,132			1,528
Accrued fleet operating expense		598			3,118
Customer deposits		224			962
Other		9,041			8,298
	$	26,690		$	35,444
Other noncurrent liabilities:
Warrant liabilities	$	100		$	25,225
Long-term employee benefits		1,759			537
Other		—			913
	$	1,859		$	26,675

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 September 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 September 30, 2025, the Company reevaluated the fair value of our held for sale assets and recorded a net impairment true-up adjustment of $7.3 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 of property and equipment totaled $2.3 million and $7.2 million for the three months ended September 30, 2025 and September 30, 2024, respectively, and $11.6 million and $26.7 million for the nine months ended September 30, 2025 and September 30, 2024, respectively.