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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUES [1] $ 527.4 $ 394.8
OPERATING EXPENSES:    
Wages and benefits 231.2 174.4
Aircraft and engine rent 1.9 0.0
Depreciation and amortization 34.5 30.6
Executive separation and Merger-related items (Note 4) 9.5 4.4
Total operating expenses 473.2 341.9
OPERATING INCOME 54.2 52.9
OTHER INCOME (EXPENSE):    
Investment income (loss) and other, net 0.2 (2.0)
Interest expense (16.8) (14.3)
Total other expense, net (16.6) (16.3)
INCOME BEFORE INCOME TAXES 37.6 36.6
INCOME TAX EXPENSE 10.7 9.5
NET INCOME $ 26.9 $ 27.1
NET INCOME PER COMMON SHARE—BASIC (in dollars per share) $ 0.59 $ 0.69
NET INCOME PER COMMON SHARE—DILUTED (in dollars per share) $ 0.58 $ 0.68
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING—BASIC (in shares) 45,652,671 39,096,437
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING—DILUTED (in shares) 46,054,446 39,792,835
Nonrelated Party    
OPERATING EXPENSES:    
Maintenance and repair $ 99.8 $ 67.1
Other 80.4 55.6
Related Party    
OPERATING EXPENSES:    
Maintenance and repair 13.6 9.2
Other $ 2.3 $ 0.6
[1] Substantially all of the Company’s revenues are derived from related parties during the three months ended March 31, 2026 and 2025. Refer to Note 5, Revenues and Note 10, Related Party Transactions.