XML 30 R6.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common Stock, Issued In Connection With Merger
Common Stock, Deposited To Escrow
[3]
Common Stock
Common Stock
Common Stock, Issued In Connection With Merger
Common Stock
Common Stock, Deposited To Escrow
[3]
Additional Paid-In Capital
Additional Paid-In Capital
Common Stock, Issued In Connection With Merger
Additional Paid-In Capital
Common Stock, Deposited To Escrow
[3]
Accumulated Earnings
Temporary equity, beginning balance (in shares) at Dec. 31, 2022 [1] 98,965                  
Temporary equity, beginning balance at Dec. 31, 2022 [1] $ 3.5                  
Increase (Decrease) in Temporary Equity [Roll Forward]                    
Share based compensation [1] $ 1.2                  
Issuance of restricted stock units (in shares) [1] 18,558                  
Issuance of restricted stock units [1] $ 0.3                  
Repurchase and retirement of common stock (in shares) [1] (14,622)                  
Repurchase and retirement of common stock [1] $ (0.2)                  
Temporary equity, ending balance (in shares) at Dec. 31, 2023 [1] 102,901                  
Temporary equity, ending balance at Dec. 31, 2023 [1] $ 4.8                  
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2022 [1]       38,993,300            
Stockholders' equity, beginning balance at Dec. 31, 2022 991.1     $ 0.0 [1]     $ 478.0     $ 513.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 54.8                 54.8
Stockholders' equity, ending balance (in shares) at Dec. 31, 2023 [1]       38,993,300            
Stockholders' equity, ending balance at Dec. 31, 2023 1,045.9     $ 0.0 [1]     478.0     567.9
Increase (Decrease) in Temporary Equity [Roll Forward]                    
Share based compensation [1] $ 1.0                  
Temporary equity, ending balance (in shares) at Dec. 31, 2024 [1] 102,901                  
Temporary equity, ending balance at Dec. 31, 2024 [1] $ 5.8                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income $ 64.6                 64.6
Stockholders' equity, ending balance (in shares) at Dec. 31, 2024 38,993,300     38,993,300 [1]            
Stockholders' equity, ending balance at Dec. 31, 2024 $ 1,110.5 [2]     $ 0.0 [1]     478.0     632.5
Increase (Decrease) in Temporary Equity [Roll Forward]                    
Share based compensation [1] $ 14.1                  
Issuance of restricted stock units (in shares) [1] 1,476,764                  
Issuance of restricted stock units [1] $ 0.9                  
Repurchase and retirement of common stock (in shares) [1] (594,570)                  
Repurchase and retirement of common stock [1] $ (8.9)                  
Reclassification of RSUs from mezzanine equity (in shares) [1] (985,095)                  
Reclassification of RSUs from mezzanine equity [1] $ (11.9)                  
Temporary equity, ending balance (in shares) at Dec. 31, 2025 [1] 0                  
Temporary equity, ending balance at Dec. 31, 2025 [2] $ 0.0                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 76.2                 76.2
Share based compensation 5.2           5.2      
Issuance of restricted stock units (in shares) [1]       38,914            
Repurchase and retirement of common stock (in shares) [1]       (11,019)            
Repurchase and retirement of common stock (0.2)                 (0.2)
Reclassification of U.S. Treasury Warrants from liability awards to equity awards 7.4           7.4      
Reclassification of mezzanine equity to common stock (in shares) [1]       985,095            
Reclassification of RSUs from mezzanine equity $ 11.9           11.9      
Issuance of common stock, par value $0.001 in connection with the Merger (in shares) [1]         2,853,542 2,853,454        
Issuance of common stock, par value $0.001 in connection with the Merger   $ 59.8 $ 57.7         $ 59.8 $ 57.7  
Stockholders' equity, ending balance (in shares) at Dec. 31, 2025 45,713,286     45,713,286 [1]            
Stockholders' equity, ending balance at Dec. 31, 2025 $ 1,328.5 [2]     $ 0.0 [1]     $ 620.0     $ 708.5
[1] Mezzanine equity and shareholders’ equity have been retrospectively adjusted to apply the Exchange and Reverse Stock Split as discussed in Note 3, Merger with Mesa Air Group, Inc.
[2] Mezzanine equity and shareholders’ equity have been retrospectively adjusted to apply the Exchange and Reverse Stock Split as discussed in Note 3, Merger with Mesa Air Group, Inc.
[3] See Note 3, Merger with Mesa Air Group, Inc. for further considerations of Escrow Shares.