v3.26.1
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Summary of Future Minimum Lease Payments under Finance and Operating Lease Liabilities The table does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.

 

 

Finance Leases

 

 

Operating Leases

 

Remainder of 2026

$

10,495

 

 

$

12,186

 

2027

 

19,095

 

 

 

22,532

 

2028

 

16,200

 

 

 

17,372

 

2029

 

12,080

 

 

 

14,960

 

2030

 

10,004

 

 

 

14,120

 

2031 and thereafter

 

7,696

 

 

 

22,203

 

Total minimum lease payments

 

75,570

 

 

 

103,373

 

Less amount representing interest

 

18,612

 

 

 

30,315

 

Present value of minimum lease payments

 

56,958

 

 

 

73,058

 

Less current portion

 

13,396

 

 

 

14,951

 

Long-term portion

$

43,562

 

 

$

58,107

 

Schedule of Lease Costs Related to Finance and Operating Leases

The table below presents information for lease costs related to the Company’s finance and operating leases (in thousands):

 

 

For The Three Months Ended June 30,

 

 

For The Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Finance lease cost

 

 

 

 

 

 

 

 

 

 

 

Amortization of leased assets

$

3,517

 

 

$

1,573

 

 

$

6,479

 

 

$

2,986

 

Interest of lease liabilities

 

1,904

 

 

 

1,095

 

 

 

3,623

 

 

 

2,181

 

Operating lease cost

 

 

 

 

 

 

 

 

 

 

 

Operating lease cost (1)

 

3,322

 

 

 

4,014

 

 

 

6,690

 

 

 

7,955

 

Short-term lease cost (2)

 

440

 

 

 

467

 

 

 

818

 

 

 

965

 

Total lease cost

$

9,183

 

 

$

7,149

 

 

$

17,610

 

 

$

14,087

 

 

(1) Expenses are classified within Aircraft Rent on the Companys condensed consolidated statements of operations.

(2) Expenses are classified within Other on the Companys condensed consolidated statements of operations.

Schedule of Lease Terms and Discount Rates Related to Finance and Operating Leases The table below presents lease terms and discount rates related to the Company's finance and operating leases:

 

 

 

June 30, 2026

 

 

June 30, 2025

 

Weighted-average remaining lease term

 

 

 

 

 

 

Operating leases

 

5.31 years

 

 

5.62 years

 

Finance leases

 

4.40 years

 

 

5.46 years

 

Weighted-average discount rate

 

 

 

 

 

 

Operating leases

 

 

13.83

%

 

 

14.00

%

Finance leases

 

 

13.79

%

 

 

14.78

%

Schedule of Cash and Non-cash Activities Associated with Leases

The table below presents cash and non-cash activities associated with our leases (in thousands):

 

 

 

For The Six Months Ended June 30

 

 

 

2026

 

 

2025

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

Operating cash flows from operating leases

 

$

7,049

 

 

$

8,440

 

Financing cash flows from finance leases

 

$

4,661

 

 

$

2,360