| Summary of Consolidated Segment Information |
All other financial statement metrics are reviewed and/or considered on a consolidated basis:
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Year Ended December 31, |
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2025 |
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2024 |
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Revenue |
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$ |
106,557 |
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$ |
119,425 |
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Operating Expenses: |
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Aircraft expenses |
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$ |
76,812 |
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$ |
76,164 |
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Pilot expenses |
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13,709 |
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18,390 |
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Other (1) |
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11,855 |
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15,380 |
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Cost of revenue, exclusive of depreciation and amortization |
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102,376 |
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109,934 |
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Technology and development |
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10,299 |
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24,041 |
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Sales and marketing |
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8,177 |
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7,514 |
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General and administrative |
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53,285 |
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29,851 |
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Depreciation and amortization |
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9,294 |
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8,341 |
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Total operating expenses |
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183,431 |
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179,681 |
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Operating loss |
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$ |
(76,874 |
) |
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$ |
(60,256 |
) |
Other income (expense): |
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Changes in fair value of financial instruments carried at fair value, net |
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$ |
(8,574 |
) |
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$ |
(11,732 |
) |
Interest expense |
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(13,205 |
) |
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(8,617 |
) |
Gain (loss) on extinguishment of debt |
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(3,904 |
) |
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5,398 |
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Other income (expense), net |
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(8,379 |
) |
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|
12 |
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Total other income (expense), net |
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$ |
(34,062 |
) |
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$ |
(14,939 |
) |
Loss before income taxes |
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(110,936 |
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(75,195 |
) |
Income tax benefit |
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380 |
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|
287 |
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Net loss |
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$ |
(110,556 |
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$ |
(74,908 |
) |
(1) Other costs of revenue are comprised of personnel costs related to customer service operations, station expenses, reservation systems and passenger re-accommodation/ re-booking on other carriers.
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