Liquidity

9 Months Ended

Sep. 30, 2024

Risks and Uncertainties [Abstract]

Liquidity

Liquidity

The Company’s ability to meet its liquidity needs is dependent upon its cash, cash equivalents and marketable securities balances as well as its ability to generate cash flows from operations in the future in amounts sufficient to meet its operating expenses and repay its liabilities arising from normal business operations when they come due. However, it is unlikely that the Company will be able to replace all or even a significant part of the revenues that were lost upon termination of the American capacity purchase agreement.

Air Wisconsin’s ability to continue to fund its operations and execute its business strategies will largely depend on its ability to generate cash from operating activities, which is subject to, among other things, its ability to timely and successfully implement changes to its business strategies, its ability to conform its cost structure to the size and scope of its future business operations, as well as other factors, some of which may be beyond its control. If Air Wisconsin fails to generate sufficient cash from operations in future periods, it may be required to implement further changes to its business strategies, sell or lease certain assets, raise additional equity or debt financing, or pursue some combination of the foregoing. Air Wisconsin may also be required to cease its business operations entirely.

Notwithstanding the foregoing, the Company currently believes its cash, cash equivalents and marketable securities balances will be sufficient to meet the Company’s liquidity requirements for at least the next 12 months from the date of this filing.

For additional information, please refer to Note 14, Subsequent Events, in this Quarterly Report.