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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUES [1] $ 1,676.5 $ 1,474.0 $ 1,429.1
OPERATING EXPENSES:      
Wages and benefits 762.6 677.2 654.8
Aircraft and engine rent 0.7 3.6 6.1
Depreciation and amortization 126.3 117.0 159.4
Executive separation and Merger-related items (Note 4) 47.1 3.2 0.3
Total operating expenses 1,508.2 1,337.0 1,293.8
OPERATING INCOME 168.3 137.0 135.3
OTHER INCOME (EXPENSE):      
Investment income and other, net 5.7 7.6 1.8
Interest expense (60.6) (57.7) (49.1)
Total other expense, net (54.9) (50.1) (47.3)
INCOME BEFORE INCOME TAXES 113.4 86.9 88.0
INCOME TAX EXPENSE 37.2 22.3 33.2
NET INCOME $ 76.2 $ 64.6 $ 54.8
NET INCOME PER COMMON SHARE—BASIC (in dollars per share) $ 1.90 $ 1.65 $ 1.40
NET INCOME PER COMMON SHARE—DILUTED (in dollars per share) $ 1.87 $ 1.62 $ 1.38
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING—BASIC (in shares) 40,020,266 39,096,437 39,084,367
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING—DILUTED (in shares) 40,657,520 39,759,275 39,653,973
Nonrelated Party      
OPERATING EXPENSES:      
Maintenance and repair $ 280.6 $ 268.0 $ 254.1
Other 249.3 225.1 197.7
Related Party      
OPERATING EXPENSES:      
Maintenance and repair 40.3 43.2 31.2
Other $ 1.3 $ (0.3) $ (9.8)
[1] Substantially all of the Company’s revenues are derived from related parties during the years ended December 31, 2025, 2024, and 2023. Refer to Note 16, Related Party Transactions and Note 5, Revenue Recognition.