Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Accounting Policies [Abstract] |
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| Summary of Receivables, Net |
The table below sets forth the major categories that make up the balances as of the dates presented: | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Trade receivables | $ | 764 | | | $ | 4,030 | | | Insurance and warranty claim receivables | 2,044 | | | 1,985 | | | Federal and state tax receivables | 147 | | | 680 | | | Other industry related receivables | 883 | | | 690 | | | Allowance for expected credit losses | (4) | | | (5) | | | Receivables, net | $ | 3,834 | | | $ | 7,380 | |
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| Summary of Net Unrealized Gains and Losses That Relate To Marketable Securities |
The calculation of net unrealized gains and losses that related to Marketable securities, Short-term restricted investments (SESP), and Long-term restricted investments (SESP) held as of June 30, 2025, and the calculation of net unrealized gains and losses that related to Marketable securities, Short-term restricted investments (SESP), and Long-term restricted investments (SESP) held as of June 30, 2024 was as follows: | | | | | | | | | | | | | Three Months Ended
June 30, 2025 | | Six Months Ended
June 30, 2025 | | Unrealized gains recognized during the period on equity securities held as of the end of the period | $ | 1,036 | | | $ | 2,665 | | Plus: Net gains (losses) recognized during the period on equity securities sold during the period1 | — | | | — | | | Net gains recognized during the period on equity securities | $ | 1,036 | | | $ | 2,665 | |
The calculation of net unrealized gains and losses that relate to Marketable securities and Long-term restricted investments (SESP) held as of June 30, 2024 is as follows: | | | | | | | | | | | | | Three Months Ended
June 30, 2024 | | Six Months Ended
June 30, 2024 | | Unrealized gains recognized during the period on equity securities held as of the end of the period | $ | 523 | | | $ | 902 | | Plus: Net gains (losses) recognized during the period on equity securities sold during the period2 | — | | | — | | | Net gains recognized during the period on equity securities | $ | 523 | | | $ | 902 | |
(1) (2)Although Marketable securities, Short-term restricted investments (SESP), and Long-term restricted investments (SESP) were sold during the three and six months ended June 30, 2025 and June 30, 2024, any gains or losses resulting from such sales are immaterial due to the nature of the securities held and the fact that the securities have been marked to market as of the end of the prior reporting period.
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| Summary of Current and Non-Current Contract Liabilities |
The table below sets forth the opening and closing balances of both current and non-current net contract (assets) and liabilities. | | | | | | | | | | | | | Current | | Non-current | | Balance as of December 31, 2023 | $ | 100 | | | $ | 2,984 | | | Amounts received, excluding amounts recognized as revenue | 1,380 | | | 543 | | | Revenues recognized included in opening contract balance | (342) | | | — | | | Reclassification between current and non-current | (364) | | | 364 | | | Balance as of June 30, 2024 | $ | 774 | | | $ | 3,891 | | | | | | | Balance as of December 31, 2024 | $ | 4,190 | | | $ | — | | | Amounts received, excluding amounts recognized as revenue | 11,168 | | | — | | | Revenues recognized included in opening contract balance | (15,358) | | | — | | | Balance as of June 30, 2025 | $ | — | | | $ | — | |
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| Summary of Original Cost of Company's Fixed Assets and Accumulated Depreciation |
The table below sets forth the original cost of the Company’s property and equipment and accumulated depreciation or amortization as of the dates presented. | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Assets | Original
Cost | | Accumulated
Depreciation/
Amortization | | Original Cost | | Accumulated
Depreciation/
Amortization | | Aircraft | $ | 65,098 | | | $ | 56,577 | | | $ | 65,480 | | | $ | 55,544 | | | Spare engines | 157,996 | | | 138,947 | | | 157,997 | | | 135,278 | | | Rotable parts | 29,688 | | | 19,276 | | | 29,823 | | | 19,223 | | | Ground equipment | 2,952 | | | 2,556 | | | 2,953 | | | 2,466 | | | Office equipment | 4,782 | | | 4,596 | | | 4,782 | | | 4,547 | | | Leasehold improvements | 1,137 | | | 912 | | | 1,123 | | | 880 | | | Total | $ | 261,653 | | | $ | 222,864 | | | $ | 262,158 | | | $ | 217,938 | |
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| Schedule of Other Assets |
Other assets is made up of the items presented in the table below. | | | | | | | | | | June 30, 2025 | December 31, 2024 | Expected state tax refunds from 2021 and 2022 amended returns | $ | 253 | | $ | 253 | | | Expected federal refunds | 6,527 | | 6,527 | | | Workers compensation loss fund | 796 | | 804 | | | Long-term deposits | 78 | | 78 | | | Other assets | $ | 7,654 | | $ | 7,662 | |
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| Summary of Classification of Marketable Securities And Long Term Investments |
The tables below set forth the Company’s classification of Marketable securities, Long-term investments and Long-term restricted investments (SESP) as of the dates presented: | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Total | | Level 1 | | Level 2 | | Level 3 | | Marketable securities – exchange-traded funds | $ | 90,959 | | | $ | 90,959 | | | $ | — | | | $ | — | | | Marketable securities – mutual funds | 3,163 | | | 3,163 | | | — | | | — | | | Long-term investments – bonds (see Note 4) | 4,275 | | | — | | | 4,275 | | | — | | | Short-term restricted investments (SESP) - mutual funds | $ | 2,662 | | | 2,662 | | | | | | | Long-term restricted investments (SESP) - mutual funds | 1,370 | | | 1,370 | | | — | | | — | | | Total | $ | 102,429 | | | $ | 98,154 | | | $ | 4,275 | | | $ | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Total | | Level 1 | | Level 2 | | Level 3 | | Marketable securities – exchange-traded funds | $ | 87,629 | | | $ | 87,629 | | | $ | — | | | $ | — | | | Marketable securities – mutual funds | 9,389 | | | 9,389 | | | — | | | — | | | Long-term investments – bonds (see Note 4) | 4,275 | | | — | | | 4,275 | | | — | | | Long-term restricted investments (SESP) - mutual funds | 3,797 | | | 3,797 | | | — | | | — | | | Total | $ | 105,090 | | | $ | 100,815 | | | $ | 4,275 | | | $ | — | |
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