XML 11 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating revenues:        
Contract revenue $ 90,676 $ 115,257 $ 278,206 $ 357,632
Operating expenses:        
Flight operations 35,656 37,870 108,404 132,654
Maintenance 42,250 47,560 127,206 136,098
Aircraft rent 396 3,501 1,818 6,593
General and administrative 10,912 11,391 33,981 32,239
Depreciation and amortization 2,262 7,195 11,594 26,748
Asset impairment 7,326 22,786 53,447 33,325
Loss on sale of assets     7,706  
Other operating expenses 1,051 1,987 626 4,392
Total operating expenses 99,853 132,290 344,782 372,049
Operating loss (9,177) (17,033) (66,576) (14,417)
Other income (expense), net:        
Interest expense (2,829) (7,624) (11,419) (27,296)
Interest income 69 23 167 54
Gain on investments   1,578   8,032
Unrealized loss on investments, net   (71) (11) (8,595)
Gain on debt forgiveness       10,500
Other income (expense), net 352 (1,397) 24,377 (1,788)
Total other income (expense), net (2,408) (7,491) 13,114 (19,093)
Loss before taxes (11,585) (24,524) (53,462) (33,510)
Income tax expense (benefit) 2,539 393 (1,564) (345)
Net loss and comprehensive loss $ (14,124) $ (24,917) $ (51,898) $ (33,165)
Net loss per share attributable to common shareholders        
Basic $ (0.34) $ (0.6) $ (1.25) $ (0.8)
Diluted $ (0.34) $ (0.6) $ (1.25) $ (0.8)
Weighted-average common shares outstanding        
Basic 41,873 41,322 41,551 41,203
Diluted 41,873 41,322 41,551 41,203
Contract Revenue        
Operating revenues:        
Contract revenue $ 65,968 $ 93,806 $ 204,331 $ 303,222
Pass Through and Other Revenue        
Operating revenues:        
Contract revenue $ 24,708 $ 21,451 $ 73,875 $ 54,410