XML 68 R55.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Organization and Operations (Details) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2023
Dec. 27, 2023
[1]
Dec. 31, 2022
Mar. 04, 2024
Jan. 26, 2024
Subsequent Event [Line Items]            
Accumulated deficit $ 80,456 $ 80,456        
Working capital deficit 104,743 104,743   $ 6,934    
Net loss (1,287) 54,738 $ 56,025 4,152    
Net cash flows from operating activities   8,665   45,639    
Cash and cash equivalents $ 11,626 $ 11,626   $ 23,179    
Subsequent Event | Redeemable Preferred Stock            
Subsequent Event [Line Items]            
Number of non-convertible redeemable preferred stock shares available (in shares)         25  
Senior Notes | Subsequent Event            
Subsequent Event [Line Items]            
Maximum aggregate principal amount           $ 25,773
[1] The Merger occurred on December 27, 2023. As a result, net loss for the year ended December 31, 2023 was attributed to the pre-Merger period from January 1, 2023 through December 27, 2023 and to the post-Merger period from December 28, 2023 through December 31, 2023. During the pre-Merger period, net loss was attributable to LGM Enterprises, LLC and its noncontrolling interests. During the post-Merger period, net income was attributable to flyExclusive, Inc. and its noncontrolling interests and redeemable noncontrolling interest. Refer to the table below for the attribution of net income (loss) to controlling interests (LGM Enterprises, LLC for the pre-Merger period and flyExclusive, Inc. for the post-Merger period), noncontrolling interests, and redeemable noncontrolling interest during the pre-Merger and post-Merger periods.
(in thousands)
Controlling InterestsNoncontrolling
Interests
Redeemable noncontrolling interestTotal
Net loss of LGM Enterprises, LLC attributed to the pre-Merger period from January 1, 2023 through December 27, 2023$(47,134)$(8,891)$— $(56,025)
Net income (loss) of flyExclusive, Inc. attributed to the post-Merger period from December 28, 2023 through December 31, 2023.299 (92)1,080 1,287 
Total net income (loss) for the year ended December 31, 2023$(46,835)$(8,983)$1,080 $(54,738)