v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 22,349 $ 39,336
Restricted cash 9,244 13,747
Accounts receivable 10,239 5,945
Aircraft support parts 869 857
Prepaid expenses and other current assets 3,686 3,924
Total current assets 46,387 63,809
Property, plant and equipment, net 184,546 183,769
Intangible assets, net 6,046 6,076
Goodwill 20,888 20,749
Other noncurrent assets [1] 17,735 16,406
Total assets 275,602 290,809
Current liabilities:    
Accounts payable [2] 6,949 5,330
Accrued expenses and other current liabilities 9,768 14,057
Operating right-of-use current liabilities [3] 2,258 1,835
Current portion of long-term debt, net of debt issuance costs 2,222 2,170
Total current liabilities 21,197 23,392
Long-term accrued expenses and other noncurrent liabilities 5,802 5,388
Operating right-of-use noncurrent liabilities [4] 7,374 6,083
Long-term debt, net of debt issuance costs 201,857 202,469
Total liabilities 236,230 237,332
COMMITMENTS AND CONTINGENCIES
MEZZANINE EQUITY    
Series A Preferred Stock, $0.0001 par value; 315,789.473684 shares authorized, issued and outstanding at March 31, 2025 and December 31, 2024 386,740 380,179
STOCKHOLDERS’ DEFICIT    
Common Stock, $0.0001 par value; 1,000,000,000 shares authorized; 54,722,646 shares issued and outstanding at March 31, 2025; 54,209,388 shares issued and outstanding at December 31, 2024 6 6
Additional paid-in capital 96,583 101,495
Accumulated deficit (444,777) (429,239)
Accumulated other comprehensive income 820 1,036
Total stockholders’ deficit (347,368) (326,702)
Total liabilities, mezzanine equity, and stockholders’ deficit 275,602 290,809
Series A Preferred Stock    
MEZZANINE EQUITY    
Series A Preferred Stock, $0.0001 par value; 315,789.473684 shares authorized, issued and outstanding at March 31, 2025 and December 31, 2024 $ 386,740 $ 380,179
[1] Includes related party operating lease right-of-use assets of $4.8 million and $5.1 million as of March 31, 2025 and December 31, 2024, respectively.
[2] Includes related party accounts payable of zero and $0.1 million as of March 31, 2025 and December 31, 2024, respectively.
[3] Includes related party operating lease right-of-use current liabilities of $1.3 million as of March 31, 2025 and December 31, 2024.
[4] Includes related party operating lease right-of-use noncurrent liabilities of $3.4 million and $3.8 million as of March 31, 2025 and December 31, 2024, respectively.

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