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Long-Term Debt, Finance Leases, and Other Borrowings (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt as of September 30, 2025 and December 31, 2024, consisted of the following (in thousands):

		September 30,				December 31,
		2025				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
Revolving credit facility, quarterly interest based on SOFR plus interest spread at 4.50% through 2028			33,018				33,018
Notes payable to the UST, quarterly interest based on SOFR plus interest spread at 3.50% through 2025			62,197				112,121
Gross long-term debt, including current maturities			95,215				230,608
Less unamortized debt issuance costs			—				(1,433	)
Less notes payable warrants			(194	)			(2,114	)
Net long-term debt, including current maturities			95,021				227,061
Less current portion, net of unamortized debt issuance costs			(68,009	)			(143,275	)
Net long-term debt		$	27,012			$	83,786

Schedule of Principal Maturities of Long-term Debt

Principal maturities of long-term debt as of September 30, 2025, and for each of the next five years are as follows (in thousands):

Periods Ending December 31,		Total Principal
2025 (remainder of)		$	62,197
2026			7,512
2027			5,803
2028			19,703
		$	95,215

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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