v3.26.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating Revenues    
Total Operating Revenues $ 66,677 $ 202,383
Operating Expenses    
Payroll and related costs 54,636 122,102
Aircraft fuel and oil 1,064 340
Aircraft maintenance, materials and repairs 14,241 58,476
Other rents 3,259 6,698
Depreciation, amortization and obsolescence 8,916 26,051
Gain on disposal of fixed assets (14,937) (648)
Purchased services and other [1] 14,247 13,567
Total Operating Expenses 81,426 226,586
Loss From Operations (14,749) (24,203)
Other Income (Expense)    
Interest and dividend income 5,619 4,314
Interest expense (10) (9)
Gain on marketable securities, Short-term restricted investments (SESP), and Long-term restricted investments (SESP) 2,534 1,557
Other, net (126) (8)
Total Other Income 8,017 5,854
Net Loss Before Taxes (6,732) (18,349)
Income Tax Benefit (6,762) (1,174)
Net Income (Loss) 30 (17,175)
Preferred stock dividends [2] 0 1,092
Net income (loss) applicable to common stockholders $ 30 $ (18,267)
Basic income (loss) share (in dollars per share) $ 0.00 $ (0.36)
Diluted income (loss) share (in dollars per share) $ 0.00 $ (0.36)
Weighted average common shares:    
Basic (in shares) 58,435,746 50,738,144
Diluted (in shares) 58,435,746 50,738,144
Contract revenues    
Operating Revenues    
Total Operating Revenues $ 66,227 $ 202,375
Contract services and other    
Operating Revenues    
Total Operating Revenues $ 450 $ 8
[1]
1Includes $390 of related party expense. Please refer to Note 9, Related Party Transactions, for further details.
[2]
2Preferred stock is held by a related party. Please refer to Note 9, Related Party Transactions, for further details.