XML 14 R2.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and Cash Equivalents $ 53,391 $ 83,219
Restricted Cash 13,737 17,252
Investments 105,376 104,053
Accounts Receivable, net of an allowance for credit losses of $748 and $617, respectively 39,656 35,296
Short-term Lessor Maintenance Deposits 1,146 521
Inventory, net of a reserve for obsolescence of $872 and $784, respectively 11,237 10,467
Prepaid Expenses 14,634 13,837
Other Current Assets 1,753 1,939
Total Current Assets 240,930 266,584
Property & Equipment, net:    
Finance Lease Assets 309,877 309,877
Total Property & Equipment 1,309,850 1,305,082
Accumulated Depreciation & Amortization (353,535) (334,993)
Total Property & Equipment, net 956,315 970,089
Other Assets:    
Goodwill 222,223 222,223
Other Intangible Assets, net of accumulated amortization of $31,166 and $29,903, respectively 76,575 77,838
Operating Lease Right-of-use Assets 16,239 16,896
Aircraft Deposits 7,925 7,925
Long-term Lessor Maintenance Deposits 55,712 53,624
Other Assets 16,107 14,998
Total Other Assets 394,781 393,504
Total Assets 1,592,026 1,630,177
Current Liabilities:    
Accounts Payable 56,917 56,034
Accrued Salaries, Wages, and Benefits 35,907 38,327
Accrued Transportation Taxes 16,713 20,534
Air Traffic Liabilities 114,257 160,686
Finance Lease Obligations 20,500 20,175
Loyalty Program Liabilities 9,482 10,121
Operating Lease Obligations 3,356 3,281
Current Maturities of Long-term Debt, net 91,715 87,579
Income Tax Receivable Agreement Liability 14,793 10,325
Other Current Liabilities 19,223 15,228
Total Current Liabilities 382,863 422,290
Long-term Liabilities:    
Finance Lease Obligations 245,838 251,087
Loyalty Program Liabilities 4,618 4,480
Operating Lease Obligations 16,496 17,369
Long-term Debt, net 220,881 239,543
Deferred Tax Liability 32,125 23,566
Income Tax Receivable Agreement Liability 72,376 87,369
Other Long-term Liabilities 13,812 14,100
Total Long-term Liabilities 606,146 637,514
Total Liabilities 989,009 1,059,804
Commitments and Contingencies (see Note 11)
Stockholders' Equity:    
Common stock, with $0.01 par value, 995,000,000 shares authorized, 60,174,923 and 59,500,970 issued and 53,201,003 and 53,157,964 outstanding at March 31, 2025 and December 31, 2024, respectively 602 595
Preferred stock, with $0.01 par value, 5,000,000 shares authorized, no shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 0 0
Treasury stock, at cost, 6,973,920 and 6,343,006 shares held at March 31, 2025 and December 31, 2024, respectively (115,866) (105,866)
Additional Paid-In Capital 534,649 528,604
Retained Earnings 183,667 147,132
Accumulated Other Comprehensive Loss (35) (92)
Total Stockholders' Equity 603,017 570,373
Total Liabilities and Stockholders' Equity 1,592,026 1,630,177
Aircraft and Flight Equipment    
Property & Equipment, net:    
Property & Equipment, net: 778,381 775,210
Aircraft and Flight Equipment Held for Operating Lease    
Property & Equipment, net:    
Property & Equipment, net: 124,383 124,383
Ground Equipment and Leasehold Improvements    
Property & Equipment, net:    
Property & Equipment, net: 47,571 46,550
Computer Hardware and Software    
Property & Equipment, net:    
Property & Equipment, net: 22,847 22,436
Rotable Parts    
Property & Equipment, net:    
Property & Equipment, net: $ 26,791 $ 26,626