REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregates Revenue by Service Type and the Timing

The following table disaggregates Revenue by service type and the timing of when these services are provided to the member or customer (in thousands):

	Year Ended December 31,
	2025		2024		2023
Services transferred at a point in time:
Flights, net of discounts and incentives	$	622,688	$	633,865	$	884,065
Aircraft management	—		9,537		159,150
Other	82,391		89,867		102,352
Services transferred over time:
Memberships	28,887		57,614		82,857
Aircraft management	—		170		16,679
Other	2,529		1,051		8,214
Total	$	736,495	$	792,104	$	1,253,317

Schedule of Contract Balances and Deferred Revenue Balances and Changes in Deferred Revenue

Receivables from members and customer contracts represent amounts owed by a member or customer for services we have performed and are included within Accounts receivable, net, on the consolidated balance sheets. Accounts receivable, net consisted of the following (in thousands):

	December 31, 2025		December 31, 2024
Gross receivables from members and customers	$	30,960	$	39,187
Undeposited funds	1,336		790
Less: Allowance for credit losses	(8,047)		(7,661)
Accounts receivable, net	$	24,249	$	32,316

Deferred revenue consisted of the following (in thousands):

	December 31, 2025		December 31, 2024
Flights - prepaid	$	726,506	$	729,581
Memberships - annual dues	10,328		17,638
Memberships - initiation fees	—		494
Flights - credits	2,018		1,899
Deferred revenue - total	$	738,852	$	749,612

The opening balance for Deferred revenue as of December 31, 2023 was $724.2 million. Changes in deferred revenue for the year ended December 31, 2025 were as follows (in thousands):

Deferred revenue as of December 31, 2024	$	749,612
Amounts deferred during the period	725,735
Revenue recognized from amounts included in the deferred revenue beginning balance	(453,325)
Revenue from current period sales	(283,170)
Deferred revenue as of December 31, 2025	$	738,852

Schedule of Revenue Expected to be Recognized in Future Periods

Revenue expected to be recognized in future periods for performance obligations that are unsatisfied, or partially unsatisfied, as of December 31, 2025 was as follows (in thousands):

2026	$	481,930
2027	128,461
2028	128,461
Total	$	738,852