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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Operating revenues:          
Contract revenue $ 103,233 $ 118,777 $ 476,409 $ 498,065 $ 531,001
Operating expenses:          
Flight operations 35,273 51,818 184,472 216,748 177,038
Maintenance 46,527 48,627 184,725 199,648 201,930
Aircraft rent 1,616 1,204 7,797 6,200 36,989
General and administrative 9,519 12,009 44,248 48,765 43,966
Depreciation and amortization 7,979 13,293 40,041 60,359 81,508
Asset impairment 65,665 40,384 73,709 54,343 171,824
Loss on sale of assets 46,691 386 682 (7,162) (4,723)
Other operating expenses 760 2,458 6,555 3,510 7,471
Total operating expenses 214,030 170,179 542,229 582,411 716,003
Operating loss (110,797) (51,402) (65,820) (84,346) (185,002)
Other expense, net:          
Interest expense (7,064) (11,160) (38,455) (49,921) (35,289)
Interest income 17 14 68 146 139
Gain on investments, net 0   8,032    
Unrealized (loss)/gain on investments, net (42) 2,451 (6,145) 5,408 (13,715)
Gain on extinguishment of debt 0 2,954 2,954 (1,505) (397)
Gain on debt forgiveness 4,500   10,500    
Other expense, net (2,901) 157 (1,630) (148) (801)
Total other expense, net (5,490) (5,584) (24,676) (44,515) (49,666)
Loss before taxes (116,287) (56,986) (90,496) (128,861) (234,668)
Income tax (benefit)/expense (4,343) 864 519 (8,745) (51,990)
Net loss and comprehensive loss $ (111,944) $ (57,850) $ (91,015) $ (120,116) $ (182,678)
Net loss per share attributable to common shareholders          
Basic $ (2.71) $ (1.41) $ (2.21) $ (3.04) $ (5.06)
Diluted $ (2.71) $ (1.41) $ (2.21) $ (3.04) $ (5.06)
Weighted-average common shares outstanding          
Basic 41,332 40,940 41,137 39,465 36,133
Diluted 41,332 40,940 41,137 39,465 36,133
Contract Revenue          
Operating revenues:          
Contract revenue $ 80,678 $ 101,100 $ 404,322 $ 421,298 $ 478,482
Pass Through and Other Revenue          
Operating revenues:          
Contract revenue $ 22,555 $ 17,677 $ 72,087 $ 76,767 $ 52,519