v3.26.1
Disaggregated Revenue
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregated Revenue

Note 11. Disaggregated Revenue

 

The disaggregated revenue for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Scheduled

 

$

15,461

 

 

$

17,783

 

On-Demand

 

$

10,152

 

 

$

5,723

 

Total revenue

 

$

25,613

 

 

$

23,506

 

 

The revenue deferred and recognized for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2026

 

 

2025

 

Deferred revenue, beginning of period

 

$

17,924

 

 

$

17,399

 

Revenue deferred

 

 

17,781

 

 

 

11,263

 

Revenue recognized

 

 

(17,115

)

 

 

(12,059

)

Deferred revenue, end of period

 

$

18,590

 

 

$

16,603

 

 

Deferred revenue principally represents tickets sold for future travel on the Company’s flights. The balance fluctuates with seasonal travel patterns. The contract duration of passenger tickets is generally one to two years. Accordingly, any revenue associated with tickets sold for future travel will be recognized within 12 to 24 months, when the tickets are either used by passengers or expired pursuant to their terms. For the three months ended March 31, 2026, $4.2 million of revenue was recognized in passenger revenue that was included in the Company’s deferred revenue liability at December 31, 2025.