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DEPOSITS | 12 Months Ended
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Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
DEPOSITS | DEPOSITS Deposits consist of the following at December 31, 2023 and 2022, in thousand:
| December 31, 2023 | December 31, 2022
Deposits on aircraft | $ | 40,300 |  | $ | 12,833 |
Other deposits | 516 | 123
Total deposits | $ | 40,816 |  | $ | 12,956 |
Less current portion | (25,125) | (833)
Total deposits, non-current | $ | 15,691 |  | $ | 12,123 |
Below is a breakdown of the deposits on aircraft as of December 31, 2023 and 2022, in thousand:
| December 31, 2023 |  | December 31, 2022
Gulfstream aircraft deposits | $ | 39,000 |  |  | $ | 12,000 |
Honda aircraft deposits | 1,300 |  |  | 833 |
Total deposits on aircraft | 40,300 |  |  | $ | 12,833 |
Less current portion | $ | (25,050) |  |  | (833) |
Total deposits on aircraft non-current | 15,250 |  |  | $ | 12,000 |
Gulfstream Aerospace, LP During the year ended December 31, 2022, the Company executed a series of purchase agreements with Gulfstream Aerospace, LP for the acquisition of four (4) Gulfstream G 280 aircraft for total consideration of $79 million with expected delivery throughout fiscal year 2025. During the year ended December 31, 2023, the Company funded an additional amount of $27 million, of which $24 million was funded through the SAC Leasing G 280 line of credit and $3 million paid directly by the Company. During the year ended December 31, 2022, the Company funded $12 million pursuant to the terms of the executed purchase agreements, of which $4.5 million was funded through SAC leasing G 280 Line of credit. The Company funded an aggregate amount of $39 million and $12 million towards the acquisition price of the four Gulfstream G 280 aircraft in accordance with the scheduled payment terms of the agreements as of December 31, 2023, and December 31, 2022, respectively. HondaJet The Company entered into aircraft purchase agreements with Honda Aircraft Company LLC, under which it paid $1.3 million and $0.8 million of deposits for aircraft not yet delivered at December 31, 2023 and December 31, 2022, respectively. During the year ended December 31, 2023, the Company took delivery of three aircraft for a purchase price of $17.9 million. In May 2023, the Company and Honda Aircraft Company, LLC entered into a HondaJet Fleet Purchase Agreement for the acquisition of twenty-three (23) HondaJet HA-420 Aircraft for a total aggregate purchase price of $161.1 million for delivery between the fourth fiscal quarter of 2023 and the fourth fiscal quarter of 2025.

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