Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On July 1, 2026, the Company borrowed the remaining $45.0 million available under a credit agreement with a borrowing capacity of up to $85.6 million. Following this drawdown, the facility was fully utilized. The borrowing is secured by aircraft and bears interest at a variable rate based on three-month Term SOFR, payable in quarterly installments over a term of 12 years. On July 17, 2026, the Company repaid approximately $11.3 million outstanding under its pre-delivery deposit financing facility related to Boeing 737 MAX aircraft purchase rights. Following the repayment, the facility was fully repaid with no outstanding borrowings remaining. On July 27, 2026, the Company entered into a new pre-delivery payment financing facility providing commitments of up to $231.0 million to fund pre-delivery payment obligations associated with future Boeing 737-8 aircraft deliveries. The facility is secured by purchase price assignments related to the underlying aircraft and bears interest at a variable rate based on one-month SOFR. As of August 10, 2026, no amounts had been drawn under the facility. On July 24, 2026, the Company entered into a new aircraft financing facility providing commitments of up to $177.5 million. The facility is secured by certain aircraft and bears interest at a fixed rate based on SOFR plus an applicable margin determined at the time of drawdown. As of August 10, 2026, no amounts had been drawn under the facility. During July 2026, the Company borrowed an additional $132.0 million under a previously disclosed aircraft financing credit agreement. The borrowings were secured by recently delivered aircraft and fully utilized the remaining borrowing capacity available under the credit agreement. Subsequent to June 30, 2026, the Company executed amendments to extend the lease terms for two Boeing 737-900ER aircraft currently leased to a third-party operator through the fourth quarter of 2029. On July 31, 2026, the Company's pilots ratified a new collective bargaining agreement. The Company is evaluating the financial impact of the agreement, including the payment of accrued pilot retention bonuses and future compensation and benefit costs.
|