XML 11 R4.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Operating revenues:        
Contract revenue $ 131,582 $ 121,834 $ 250,359 $ 269,008
Operating expenses:        
Flight operations 49,329 54,830 101,147 113,150
Maintenance 44,272 45,985 92,899 94,272
Aircraft rent 1,408 835 2,612 4,918
General and administrative 11,133 13,538 23,142 27,526
Depreciation and amortization 9,823 16,541 23,116 31,744
Asset impairment 2,659 16,743 43,043 20,462
(Gain)/loss on sale of assets     150 (549)
(Gain) on extinguishment of debt     (2,954)  
Other operating expenses 1,315 233 4,159 1,359
Total operating expenses 119,939 148,705 287,164 293,431
Operating income/(loss) 11,643 (26,871) (36,805) (24,423)
Other income (expense), net:        
Interest expense (10,640) (13,030) (21,800) (24,306)
Interest income 14 49 28 120
Gain on investments 7,230   7,230  
Unrealized gain/(loss) on investments, net (6,499) 2,095 (4,048) 416
Gain on debt forgiveness 10,500   10,500  
Other income (expense), net (516) 538 (359) 955
Total other income/(expense), net 89 (10,348) (8,449) (22,815)
Income/(loss) before taxes 11,732 (37,219) (45,254) (47,238)
Income tax expense/(benefit) 72 (2,097) 936 (3,027)
Net income/(loss) and comprehensive income/(loss) $ 11,660 $ (35,122) $ (46,190) $ (44,211)
Net income/(loss) per share attributable to common shareholders        
Basic $ 0.28 $ (0.88) $ (1.13) $ (1.16)
Diluted $ 0.28 $ (0.88) $ (1.13) $ (1.16)
Weighted-average common shares outstanding        
Basic 41,068 39,932 41,004 38,135
Diluted 41,068 39,932 41,004 38,135
Contract Revenue        
Operating revenues:        
Contract revenue $ 113,820 $ 103,782 $ 214,920 $ 232,232
Pass Through and Other Revenue        
Operating revenues:        
Contract revenue $ 17,762 $ 18,052 $ 35,439 $ 36,776