v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-In Capital
Accumulated Earnings
Temporary equity, beginning balance (in shares) at Dec. 31, 2024 [1] 102,901      
Temporary equity, beginning balance at Dec. 31, 2024 [1] $ 5.8      
Increase (Decrease) in Temporary Equity [Roll Forward]        
Share based compensation [1] $ 0.7      
Temporary equity, ending balance (in shares) at Mar. 31, 2025 [1] 102,901      
Temporary equity, ending balance at Mar. 31, 2025 [1] $ 6.5      
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2024 [1]   38,993,300    
Stockholders' equity, beginning balance at Dec. 31, 2024 1,110.5 $ 0.0 [1] $ 478.0 $ 632.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 27.1     27.1
Stockholders' equity, ending balance (in shares) at Mar. 31, 2025 [1]   38,993,300    
Stockholders' equity, ending balance at Mar. 31, 2025 $ 1,137.6 $ 0.0 [1] 478.0 659.6
Temporary equity, beginning balance (in shares) at Dec. 31, 2024 [1] 102,901      
Temporary equity, beginning balance at Dec. 31, 2024 [1] $ 5.8      
Temporary equity, ending balance (in shares) at Jun. 30, 2025 [1] 159,948      
Temporary equity, ending balance at Jun. 30, 2025 [1] $ 8.1      
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2024 [1]   38,993,300    
Stockholders' equity, beginning balance at Dec. 31, 2024 1,110.5 $ 0.0 [1] 478.0 632.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 64.5      
Stockholders' equity, ending balance (in shares) at Jun. 30, 2025 [1]   38,993,300    
Stockholders' equity, ending balance at Jun. 30, 2025 $ 1,175.0 $ 0.0 [1] 478.0 697.0
Temporary equity, beginning balance (in shares) at Mar. 31, 2025 [1] 102,901      
Temporary equity, beginning balance at Mar. 31, 2025 [1] $ 6.5      
Increase (Decrease) in Temporary Equity [Roll Forward]        
Share based compensation [1] $ 0.7      
RSUs issued to Board of Directors (in shares) [1] 57,047      
RSUs issued to Board of Directors [1] $ 0.9      
Temporary equity, ending balance (in shares) at Jun. 30, 2025 [1] 159,948      
Temporary equity, ending balance at Jun. 30, 2025 [1] $ 8.1      
Stockholders' equity, beginning balance (in shares) at Mar. 31, 2025 [1]   38,993,300    
Stockholders' equity, beginning balance at Mar. 31, 2025 1,137.6 $ 0.0 [1] 478.0 659.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 37.4     37.4
Stockholders' equity, ending balance (in shares) at Jun. 30, 2025 [1]   38,993,300    
Stockholders' equity, ending balance at Jun. 30, 2025 $ 1,175.0 $ 0.0 [1] 478.0 697.0
Temporary equity, beginning balance (in shares) at Dec. 31, 2025 [1] 0      
Temporary equity, beginning balance at Dec. 31, 2025 [1] $ 0.0      
Temporary equity, ending balance (in shares) at Mar. 31, 2026 [1] 0      
Temporary equity, ending balance at Mar. 31, 2026 [1] $ 0.0      
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2025 45,713,286 45,713,286 [1]    
Stockholders' equity, beginning balance at Dec. 31, 2025 $ 1,328.5 $ 0.0 [1] 620.0 708.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 26.9     26.9
Share based compensation 3.7   3.7  
Settlement of equity participation right from Merger (in shares) [1]   (109,106)    
Settlement of U.S. Treasury Warrants (7.4)   (7.4)  
Stockholders' equity, ending balance (in shares) at Mar. 31, 2026 [1]   45,604,180    
Stockholders' equity, ending balance at Mar. 31, 2026 $ 1,351.7 $ 0.0 [1] 616.3 735.4
Temporary equity, beginning balance (in shares) at Dec. 31, 2025 [1] 0      
Temporary equity, beginning balance at Dec. 31, 2025 [1] $ 0.0      
Temporary equity, ending balance (in shares) at Jun. 30, 2026 [1] 0      
Temporary equity, ending balance at Jun. 30, 2026 [1] $ 0.0      
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2025 45,713,286 45,713,286 [1]    
Stockholders' equity, beginning balance at Dec. 31, 2025 $ 1,328.5 $ 0.0 [1] 620.0 708.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income $ 58.1      
Stockholders' equity, ending balance (in shares) at Jun. 30, 2026 45,892,239 45,892,239 [1]    
Stockholders' equity, ending balance at Jun. 30, 2026 $ 1,386.3 $ 0.0 [1] 623.1 763.2
Temporary equity, beginning balance (in shares) at Mar. 31, 2026 [1] 0      
Temporary equity, beginning balance at Mar. 31, 2026 [1] $ 0.0      
Temporary equity, ending balance (in shares) at Jun. 30, 2026 [1] 0      
Temporary equity, ending balance at Jun. 30, 2026 [1] $ 0.0      
Stockholders' equity, beginning balance (in shares) at Mar. 31, 2026 [1]   45,604,180    
Stockholders' equity, beginning balance at Mar. 31, 2026 1,351.7 $ 0.0 [1] 616.3 735.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 31.2     31.2
Share based compensation 6.8   6.8  
Stock issued under long-term incentive plans and to Board of Directors (in shares) [1]   470,106    
Employee income tax paid on vested equity awards (in shares) [1]   (182,047)    
Employee income tax paid on vested equity awards $ (3.4)     (3.4)
Stockholders' equity, ending balance (in shares) at Jun. 30, 2026 45,892,239 45,892,239 [1]    
Stockholders' equity, ending balance at Jun. 30, 2026 $ 1,386.3 $ 0.0 [1] $ 623.1 $ 763.2
[1] Mezzanine equity and shareholders’ equity have been retrospectively adjusted to apply the Exchange Ratio and Reverse Stock Split as discussed in Note 3, Merger with Mesa Air Group, Inc.