The Company’s lease arrangements generally pertain to real estate leases and aircraft. The Company leases real estate including hangars and office space under operating leases, ranging from two to thirty years. As of June 30, 2026 and December 31, 2025, the Company operated 28 and 32 aircraft, respectively, under non-cancellable operating leases ranging from two to seven years for charter flight services. For the Company’s aircraft leases, in addition to the fixed lease payments for the use of the aircraft, the Company is also obligated to pay into aircraft engine reserve programs and additional variable costs which are expensed as incurred and are not included in the measurement of our leases. These payments amounted to $7,606 and $15,124 for the three and six months ended June 30, 2026, respectively, and $6,335 and $10,771 for the three and six months ended June 30, 2025, respectively. As of June 30, 2026 and December 31, 2025, the Company operated 5 and 3 aircraft under non-cancellable finance leases, respectively.

Vehicle leases typically have month-to-month lease terms and are classified as short-term leases.

The following table sets forth information about the Company’s lease costs for the three and six months ended June 30, 2026 and 2025:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease cost	$	4,923	$	5,670	$	9,915	$	11,244
Short-term lease cost		228		410		568		905
Finance lease cost:
Amortization of right-of-use assets		436		378		824		695
Interest on lease liabilities		987		461		1,807		819
Total lease costs	$	6,574	$	6,919	$	13,114	$	13,663

The following table sets forth supplemental cash flow information about the leases for the six months ended June 30, 2026 and 2025:


	Six Months Ended June 30,
	2026		2025
ROU assets obtained in exchange for lease liabilities
Operating lease liabilities	$	3,970	$	8,023
Finance lease liabilities	$	8,370	$	14,023

Supplemental balance sheet information related to the leases is as follows:


	June 30, 2026			December 31, 2025
Weighted-average remaining lease term – operating leases	9.37 years			9.22 years
Weighted-average discount rate – operating leases		8.81	%		7.48	%
Weighted-average remaining lease term – finance leases	3.42 years			4.31 years
Weighted-average discount rate – finance leases		12.58	%		11.71	%

The Company’s future lease payments under operating leases as of June 30, 2026 are as follows:


Fiscal Year	Amount
Remainder of 2026	$	9,319
2027		15,928
2028		10,100
2029		7,593
2030		5,656
Thereafter		38,185
Total undiscounted cash flows		86,781
Less: Imputed interest		(30,870	)
Present value of lease liabilities	$	55,911

The Company’s future lease payments under finance leases as of June 30, 2026 are as follows:


Fiscal Year	Amount
Remainder of 2026	$	5,537
2027		10,409
2028		11,002
2029		5,494
2030		3,778
Thereafter		—
Total undiscounted cash flows		36,220
Less: Imputed interest		(7,145	)
Present value of lease liabilities	$	29,075