XML 53 R28.htm IDEA: XBRL DOCUMENT
v3.25.2

Balance Sheet Information (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |  |
Summary of Certain Significant Amounts Included in Condensed Consolidated Balance Sheet | Certain significant amounts included in the condensed consolidated balance sheets consisted of the following (in thousands):
|  | March 31, 2025 |  |  | September 30, 2024 |
Expendable parts and supplies, net: |  |  |  |  |  |  |  |
Expendable parts and supplies |  | $ | 20,640 |  |  | $ | 39,089 |
Less: expendable parts warranty |  |  | (4,583 | ) |  |  | (6,079 | )
Less: obsolescence |  |  | (2,408 | ) |  |  | (4,738 | )
|  | $ | 13,649 |  |  | $ | 28,272 |
Property and equipment, net: |  |  |  |  |  |  |  |
Aircraft and other flight equipment |  | $ | 65,659 |  |  | $ | 591,421 |
Other equipment |  |  | 9,588 |  |  |  | 9,503 |
Total property and equipment |  |  | 75,247 |  |  |  | 600,924 |
Less: accumulated depreciation |  |  | (38,401 | ) |  |  | (174,573 | )
|  | $ | 36,846 |  |  | $ | 426,351 |
Other assets: |  |  |  |  |  |  |  |
Investments in equity securities |  | $ | 300 |  |  | $ | 300 |
Lease incentives |  |  | — |  |  |  | 812 |
Contract asset |  |  | 4,948 |  |  |  | 6,081 |
Other |  |  | 1,648 |  |  |  | 516 |
|  | $ | 6,896 |  |  | $ | 7,709 |
Other accrued expenses: |  |  |  |  |  |  |  |
Accrued property taxes |  | $ | 2,045 |  |  | $ | 4,650 |
Accrued interest |  |  | 1,071 |  |  |  | 2,997 |
Accrued vacation |  |  | 6,450 |  |  |  | 7,421 |
Accrued lodging |  |  | 3,855 |  |  |  | 4,433 |
Accrued maintenance |  |  | 1,387 |  |  |  | 2,493 |
Accrued employee benefits |  |  | 1,169 |  |  |  | 1,075 |
Accrued fleet operating expense |  |  | 2,842 |  |  |  | 2,751 |
Other |  |  | 9,380 |  |  |  | 6,488 |
|  | $ | 28,199 |  |  | $ | 32,308 |
Other noncurrent liabilities: |  |  |  |  |  |  |  |
Warrant liabilities |  | $ | 25,225 |  |  | $ | 25,225 |
Lease incentive obligations |  |  | — |  |  |  | 1,050 |
Long-term employee benefits |  |  | 1,748 |  |  |  | 485 |
Other |  |  | — |  |  |  | 1,819 |
|  | $ | 26,973 |  |  | $ | 28,579 |
| Certain significant amounts included in the Company’s consolidated balance sheets as of September 30, 2024 and 2023, consisted of the following (in thousands):
|  | September 30, 2024 |  |  | September 30, 2023 |
Expendable parts and supplies, net: |  |  |  |  |  |  |  |
Expendable parts and supplies |  | $ | 39,089 |  |  | $ | 39,630 |
Less: expendable parts warranty |  |  | (6,079 | ) |  |  | (6,295 | )
Less: obsolescence |  |  | (4,738 | ) |  |  | (4,090 | )
|  | $ | 28,272 |  |  | $ | 29,245 |
Prepaid expenses and other current assets: |  |  |  |  |  |  |  |
Prepaid aviation insurance |  | $ | 740 |  |  | $ | 3,176 |
Prepaid vendors |  |  | 966 |  |  |  | 143 |
Prepaid other insurance |  |  | 1,066 |  |  |  | 1,205 |
Lease incentives |  |  | 143 |  |  |  | 1,125 |
Prepaid fuel and other |  |  | 456 |  |  |  | 1,645 |
|  | $ | 3,371 |  |  | $ | 7,294 |
Property and equipment, net: |  |  |  |  |  |  |  |
Aircraft and other flight equipment |  | $ | 591,421 |  |  | $ | 1,039,782 |
Other equipment |  |  | 9,503 |  |  |  | 9,421 |
Total property and equipment |  |  | 600,924 |  |  |  | 1,049,203 |
Less: accumulated depreciation |  |  | (174,573 | ) |  |  | (351,181 | )
|  | $ | 426,351 |  |  | $ | 698,022 |
Other assets: |  |  |  |  |  |  |  |
Investments in equity securities |  | $ | 300 |  |  | $ | 20,320 |
Lease incentives |  |  | 812 |  |  |  | 954 |
Contract asset |  |  | 6,081 |  |  |  | 8,756 |
Other |  |  | 516 |  |  |  | 516 |
|  | $ | 7,709 |  |  | $ | 30,546 |
|  | September 30, 2024 |  |  | September 30, 2023 |
Other accrued expenses: |  |  |  |  |  |  |  |
Accrued property taxes |  | $ | 4,650 |  |  | $ | 5,281 |
Accrued interest |  |  | 2,997 |  |  |  | 3,447 |
Accrued vacation |  |  | 7,421 |  |  |  | 6,763 |
Accrued lodging |  |  | 4,433 |  |  |  | 3,984 |
Accrued maintenance |  |  | 2,493 |  |  |  | 2,117 |
Accrued employee benefits |  |  | 1,075 |  |  |  | 1,450 |
Accrued fleet operating expense |  |  | 2,751 |  |  |  | 650 |
Other |  |  | 6,488 |  |  |  | 3,309 |
|  | $ | 32,308 |  |  | $ | 27,001 |
Other noncurrent liabilities: |  |  |  |  |  |  |  |
Warrant liabilities |  | $ | 25,225 |  |  | $ | 25,225 |
Lease incentive obligations |  |  | 1,050 |  |  |  | 1,050 |
Long-term employee benefits |  |  | 485 |  |  |  | 429 |
Other |  |  | 1,819 |  |  |  | 1,818 |
|  | $ | 28,579 |  |  | $ | 28,522 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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