v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 7,241 $ 31,381
Accounts receivable 20,501 3,190
Aircraft support parts 1,071 1,654
Prepaid expenses and other current assets 3,644 3,994
Total current assets 32,457 40,219
Property, plant, and equipment, net 220,677 218,814
Intangible assets, net 5,934 6,023
Goodwill 20,888 20,888
Other noncurrent assets 44,183 44,362
Total assets 324,139 330,306
Current liabilities:    
Accounts payable 5,012 3,417
Accrued expenses and other current liabilities [1] 7,876 9,794
Operating lease right-of-use liabilities (current) 3,033 2,384
Current portion of long-term debt, net of debt issuance costs 2,795 926
Total current liabilities 18,716 16,521
Long-term accrued expenses and other noncurrent liabilities 9,034 7,576
Operating right-of-use noncurrent liabilities 28,995 29,163
Long-term debt, net of debt issuance costs 233,092 212,380
Total liabilities 289,837 265,640
COMMITMENTS AND CONTINGENCIES
MEZZANINE EQUITY    
Series A Preferred Stock, $0.0001 par value; 315,789.473684 shares authorized, issued and outstanding at June 30, 2026 and December 31, 2025 421,394 407,257
STOCKHOLDERS’ DEFICIT    
Common Stock, $0.0001 par value; 1,000,000,000 shares authorized; 58,699,275 shares issued and outstanding at June 30, 2026; 55,894,663 shares issued and outstanding at December 31, 2025 6 6
Additional paid-in capital 71,204 82,315
Accumulated deficit (456,901) (425,099)
Accumulated other comprehensive (loss) income (1,401) 187
Total stockholders’ deficit (387,092) (342,591)
Total liabilities, mezzanine equity and stockholders’ deficit $ 324,139 $ 330,306
[1] Includes related party accrued expenses of zero and $0.4 million as of June 30, 2026 and December 31, 2025, respectively.

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