| Schedule of Term Notes Outstanding |
The Company’s long-term debt obligations consist of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31,
2026 |
|
|
December 31,
2025 |
|
Note payable to bank, fixed interest rate of 4.65%, due November 2025 |
|
|
— |
|
|
|
4 |
|
Note payable to a financing company, fixed interest rate of 5.49%, due December 2026 |
|
|
43 |
|
|
|
60 |
|
Notes payable to Clarus Capital, fixed interest rate of 8.66%, due April, June and September 2027 |
|
|
12,147 |
|
|
|
12,543 |
|
Note payable to Skywest, fixed interest rates of 4%, due April 2028 |
|
|
1,691 |
|
|
|
1,802 |
|
Note payable to Tecnam, fixed interest rate of 6.75%, due July and August 2032 |
|
|
2,620 |
|
|
|
2,692 |
|
Long-term debt, gross |
|
|
16,501 |
|
|
|
17,101 |
|
Current maturities of long-term debt |
|
|
(2,741 |
) |
|
|
(2,712 |
) |
Long-term debt, net of current maturities |
|
$ |
13,760 |
|
|
$ |
14,389 |
|
|