v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES        
Net Income (Loss) $ 526 $ (6,379) $ (11,385) $ (20,786)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Depreciation expense 2,248 1,166 6,271 2,293
Credit losses   359 482 6
Loss on sale of property       136
Loss (gain) on sale of spare parts 72   173 (433)
Amortization of debt issue costs 183 157 649 902
Amortization of operating lease right of use assets 3,844 2,704 14,300 8,173
Share-based payments 536 343 1,680 2,465
Interest on finance leases 1,086 309 3,043 435
Changes in assets and liabilities:        
Accounts receivable (2,193) 4,248 3,241 (7,746)
Assets held for sale (3) 3 (364) 1,666
Prepaid expenses and other current assets (47) (626) 410 (322)
Accounts payable 224 4,518 5,276 2,365
Accrued liabilities and other liabilities (1,128) (5,569) 2,104 17,153
Operating lease obligations (4,124) (3,073) (14,430) (7,928)
Other liabilities (1,118) (294) (3,379) 242
Net cash provided by (used in) operating activities 106 (2,134) 8,071 (1,379)
CASH FLOWS FROM INVESTING ACTIVITIES        
Deposits, deferred costs and other assets (142) (1,529) (2,775) (9,144)
Purchases of property and equipment (2,732) (1,717) (7,218) (4,042)
Net cash used in investing activities (2,874) (3,246) (9,993) (13,186)
CASH FLOWS FROM FINANCING ACTIVITIES        
Principal payments on finance leases (1,067) (231) (1,815) (480)
Noncontrolling interest dividends paid     (225)  
Proceeds on issuance of shares 15   329 1,872
Repayment of notes payables       (9,902)
Proceeds from note payable       35,290
Net cash (used in) provided by financing activities (1,052) (231) (1,711) 26,780
Net (decrease) increase in cash, cash equivalents, and restricted cash (3,820) (5,611) (3,633) 12,215
Cash, cash equivalents and restricted cash - beginning of the period 14,043 17,675 17,675 5,461
Cash, cash equivalents and restricted cash - end of the period 10,223 12,064 14,043 17,675
Non-cash investing and financing activities        
Reclass of Property and equipment to offsets current assets held for sale and other current assets (insurance receivable)     653  
Reclass of Property and equipment to Accounts receivable (aircraft receivable) and Prepaid expenses and other current assets (deferred maintenance) 117      
Right-of-use (ROU) assets acquired through operating leases   12,252 27,229 57,101
Equipment acquired through finance leases 3,453 17,100 26,619 1,915
Note Payable reductions through accounts receivable from sale of Assets held for sale       145
Cash paid for        
Interest $ 3,765 2,588 8,137 753
Previously Reported        
CASH FLOWS FROM FINANCING ACTIVITIES        
Cash, cash equivalents and restricted cash - beginning of the period   $ 17,676 $ 17,676  
Cash, cash equivalents and restricted cash - end of the period       $ 17,676