Strong Passenger Demand and Improved Aircraft Availability Drive 24% YoY Revenue Growth to $71.8 Million
EBITDA increased more than 2.4x YoY to $10.4 million; EBITDAR increased 36% YoY to $25.7 million; Cash Flow from Operations up materially to $9.0 million
MIAMI, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (Cboe CA: JET, Cboe CA: JET.B, OTCQB: JETMF) (the “Company” or “GlobalX”), North America's Fastest Growing Charter Airline®, today announced its financial and operating results for the third quarter ended September 30, 2026. Except as otherwise disclosed, all figures are presented in United States dollars and prepared in accordance with U.S. GAAP.
| Financial and Operational Summary | |||
| Q3 2026 | Q3 2025 | % Change | |
| Revenue: | $71.8M | $58.0M | 24 % |
| Operating Income: | $4.0M | $1.0M | ~4X |
| Net income (loss) attributable to the Company: | $0.2M | $(2.0)M | N/A |
| EBITDAR1: | $25.7M | $18.9M | 36% |
| EBITDA1: | $10.4M | $4.3M | 144% |
| Net Aircraft Available: | 18.1 | 15.9 | 14% |
| Total Block Hours, including Sub Service: | 9,965 | 9,901 | 1% |
| % of Block Hours - ACMI | 88% | 96% | (8%) |
| Average Utilization Hours Per Aircraft: | 550 | 618 | (11%) |
Management Commentary
“GlobalX delivered another strong quarter, with revenue up 24% year-over-year, operating income up almost four times and approximately $9.0 million of cash flow from operations,” said Chris Jamroz, Executive Chairman of GlobalX. “It was our strongest third quarter to date, with record revenue for the period. Major sporting events and high-profile concert tours contributed strongly, underscoring the breadth of our customer base and the demand for our specialized charter services. Just as important, we deliberately shifted aircraft toward higher-value domestic flying, deploying them where they earn the greatest return rather than simply maximizing utilization. We believe this disciplined approach to fleet expansion, together with robust demand across our core passenger markets and the operating leverage of our platform, positions our business to keep growing and to increase profitability over time. We expect year-over-year revenue and EBITDA growth to continue in the fourth quarter and into 2027, supported by the aircraft added in the second half of 2026 and early 2027, in addition to the up to five more targeted for 2027.”
Ryan Goepel, President and Chief Financial Officer of GlobalX, added, “Our third-quarter results reflect improved aircraft availability, stronger operating performance and a more favorable revenue mix. Net aircraft available increased 14% year-over-year to 18.1 as we progressed through our scheduled maintenance program and continued to bring additional aircraft into service. While average utilization declined year-over-year, our strategic decision to prioritize domestic flying over seasonal contracts, which typically generate higher guaranteed hours at lower hourly rates, drove the decline. This shift enabled us to capture higher revenue per block hour and improve the overall economics of our flying activity.”
“Over the past several years, we have focused on building the operational foundation necessary to support a larger, more efficient airline, including strengthening our maintenance capabilities, expanding our pilot workforce and improving the systems and processes required to manage a growing fleet. With much of that infrastructure now in place, we believe additional aircraft entering revenue service will enable us to spread our fixed costs across a larger operating base, improve asset productivity and generate greater operating leverage as we continue to scale the business.”
1 Refer below to the section “Non-GAAP Financial Measures” for additional information
Q3 2026 Financial Highlights (vs. Q3 2025) – Three-Month Period
1 Refer below to the section “Non-GAAP Financial Measures” for additional information
Recent Operational Updates
Liquidity
Conference Call and Webcast
The GlobalX management team will host a conference call tomorrow, followed by a question-and-answer period. Interested parties may submit questions to the Company prior to the call by emailing JET@elevate-ir.com.
Date: Thursday, November 5, 2026
Time: 8:30 a.m. Eastern time
Toll-free dial-in number: (877) 709-8150
International dial-in number: (201) 689-8354
Webcast: GlobalX's Q3 2026 Conference Call
If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.
The conference call will also be available for replay on the investor relations section of the Company’s website at www.globalairlinesgroup.com.
About Global Crossing Airlines Group, Inc.
GlobalX is a US 121 domestic flag and supplemental airline flying the Airbus A320 family of aircraft. The Company’s services include domestic and international ACMI and charter flights for passengers and cargo throughout the US, Caribbean, Europe, and Latin America. GlobalX is IOSA certified by IATA and holds TCOs for Europe, the UK, and Australia.
For more information:
Company Contact
Ryan Goepel, President & CFO
Tel: (720) 330-2829
Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Email: JET@elevate-ir.com
Non-GAAP Financial Measures
The Company evaluates its financial performance utilizing various accounting principles generally accepted in the United States of America ("GAAP") and non-GAAP financial measures, including adjusted operating expenses, adjusted operating income (loss), adjusted operating margin, adjusted pre-tax income (loss), adjusted pre-tax margin, adjusted net income (loss), adjusted diluted earnings (loss) per share, EBITDA and EBITDAR. These non-GAAP financial measures are provided as supplemental information to the financial information presented in this press release that is calculated and presented in accordance with GAAP. These non-GAAP financial measures are presented because management believes that they supplement or enhance management's, analysts', and investors' overall understanding of the Company's underlying financial performance and trends and facilitate comparisons among current, past, and future periods.
Because the non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered superior to and are not intended to be considered in isolation or as a substitute for the related GAAP financial measures presented in the press release and may not be the same as or comparable to similarly titled measures presented by other companies due to possible differences in the method of calculation and in the items being adjusted. We encourage investors to review our financial statements and filings with the Securities and Exchange Commission (the “SEC”) in their entirety and not to rely on any single financial measure.
EBITDA is defined as operating income (loss), plus depreciation and amortization and is a supplemental measure of operating performance that the Company believes is useful to facilitate comparisons to its historical consolidated and business-level performance and operating results. The Company believes its presentation of EBITDA, a key metric used internally by management, provides investors with a supplemental view of the Company’s operating performance that facilitates analysis and comparisons of its ongoing business operations because it excludes items that may not be indicative of the Company’s ongoing operating performance.
EBITDAR is defined as operating income (loss), plus depreciation, amortization, and aircraft rent, and is a metric to be considered by investors when comparing results across various airlines, which aims to normalize for the different ways that the airlines acquired their aircraft. This distinction is important when comparing the operational results of an airline leasing its aircraft versus an airline purchasing its aircraft. Specifically, the airline leasing aircraft would see the costs relating to those aircraft flow through aircraft rent, while an airline that owns their aircraft would see their costs for those aircraft flow through depreciation and amortization.
| EBITDAR Reconciliation (in thousands) | Three Months Ended September 30, 2026 | Three Months Ended September 30, 2025 | |||
| Operating Income | $ | 4,043 | $ | 1,035 | |
| Depreciation and amortization | 6,390 | 3,245 | |||
| EBITDA | 10,433 | 4,280 | |||
| Aircraft Rent | 15,299 | 14,649 | |||
| EBITDAR | 25,732 | 18,929 | |||
| EBITDAR Reconciliation (in thousands) | Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||
| Operating Income | $ | 11,516 | $ | 7,421 | |
| Depreciation and amortization | 16,630 | 8,099 | |||
| EBITDA | 28,146 | 15,520 | |||
| Aircraft Rent | 41,165 | 43,809 | |||
| EBITDAR | 69,311 | 59,329 | |||
| Net Income Reconciliation (in thousands) | Three Months Ended September 30, 2026 | Three Months Ended September 30, 2025 | |||
| Net Income (Loss) attributable to the Company | $ | 238 | $ | (1,959) | |
| Share Based Compensation | 63 | 827 | |||
| Adjusted Net Income (Loss) | 301 | (1,132) | |||
| Net Income Reconciliation (in thousands) | Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||
| Net Income (Loss) attributable to the Company | $ | 1,592 | $ | (1,197) | |
| Share Based Compensation | 1,174 | 2,166 | |||
| Adjusted Net Income (Loss) | 2,766 | 969 | |||
Cautionary Note Regarding Forward-Looking Information
This press release contains certain “forward-looking statements” and “forward-looking information”, as defined under applicable United States and Canadian securities laws, concerning anticipated developments and events that may occur in the future. Forward-looking statements contained in this press release include, but are not limited to, statements with respect to the Company’s financial performance, continued growth, rising demand, growing momentum of the Company’s charter platform and the execution of the Company’s strategic plan, the goal of becoming the largest narrow body charter airline in North America, continued fleet expansion, profitable narrow body charter operations, the Company’s future focus, details regarding future financial results, the Company’s ability to effectively manage its operations, including maintenance and personnel, strengthening controls, investing significantly in preventive maintenance, our focus on profitable expansion, deployment of additional aircraft to meet rising demand across the Company’s core charter markets, and the Company’s status as the nation’s fastest growing charter airline. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking statements contained in this press release are based on certain factors and assumptions regarding, among other things: the accuracy, reliability and success of GlobalX’s business model; GlobalX’s ability to accurately forecast demand; GlobalX’s ability to successfully conclude definitive agreements for; the success of airline operations of GlobalX; GlobalX’s ability to successfully enter new geographic markets; the legislative and regulatory environments of the jurisdictions where GlobalX carries business or have operations; GlobalX’s ability to have sufficient aircraft to provide its services to customers; the impact of competition and the competitive response to GlobalX’s business strategy; and the future price of fuel, and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include risks related, among other things, to: the Company’s ability to lease aircraft on favorable terms; the Company's ability to continue as a going concern; the Company's ability to manage its growth effectively; the Company’s ability to implement its business strategy successfully; the Company’s ability to obtain access to capital; the limited number of aircraft the Company operates; rising maintenance costs; seasonality in the company’s business; and aircraft-related fixed obligations. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements are made as of the date of this press release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise If GlobalX does update one or more forward-looking statements, no inference should be made that it will make additional updates with respect to those or other forward-looking statements. The Company has also identified certain known material risk factors applicable to it in its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC, and in its other filings with the SEC.
GLOBAL CROSSING AIRLINES GROUP INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except par value and share quantities)
| September 30, 2026 | December 31, 2025 | |||||
| (Unaudited) | ||||||
| Current Assets | ||||||
| Cash and cash equivalents | $ | 13,344 | $ | 16,694 | ||
| Restricted cash | 945 | 3,809 | ||||
| Accounts receivable, net of allowance for credit losses | 7,109 | 6,782 | ||||
| Prepaid expenses and other current assets | 5,181 | 3,529 | ||||
| Spare parts | 135 | 405 | ||||
| Total Current Assets | 26,714 | 31,219 | ||||
| Property and equipment, net | 37,437 | 33,578 | ||||
| Finance leases, net | 54,751 | 48,870 | ||||
| Operating lease right-of-use assets | 83,271 | 72,824 | ||||
| Deposits | 12,557 | 11,880 | ||||
| Other assets | 6,095 | 4,681 | ||||
| Total Assets | $ | 220,825 | $ | 203,052 | ||
| Current liabilities | ||||||
| Accounts payable | $ | 16,230 | $ | 13,888 | ||
| Accrued liabilities | 36,250 | 28,948 | ||||
| Deferred revenue | 8,781 | 16,830 | ||||
| Customer deposits | 2,243 | 4,401 | ||||
| Current portion of note payable | 2,594 | 3,080 | ||||
| Current portion of long-term operating leases | 16,923 | 14,262 | ||||
| Current portion of finance leases | 14,231 | 10,304 | ||||
| Total current liabilities | 97,252 | 91,713 | ||||
| Other liabilities | ||||||
| Note payable, net of unamortized debt issuance costs | 39,130 | 40,447 | ||||
| Long-term operating leases | 66,983 | 59,374 | ||||
| Long-term finance leases | 43,310 | 40,705 | ||||
| Other liabilities | 673 | 291 | ||||
| Total other liabilities | 150,096 | 140,817 | ||||
| Total Liabilities | $ | 247,348 | $ | 232,530 | ||
| Commitments and Contingencies (Note 10) | ||||||
| Stockholders’ Equity (Deficit) | ||||||
| Common Stock | ||||||
| $.001 par value; 144,462,687, 5,537,313 and 50,000,000 authorized; 55,014,740, 5,537,313, 9,015,040 and 50,992,033, 5,537,313, 9,089,107 issued and outstanding as of September 30, 2026 and December 31, 2025, for Common Stock, Class A Non-voting Common Stock, and Class B Non-voting Common Stock, respectively | $ | 70 | $ | 65 | ||
| Additional paid-in capital | 45,357 | 44,022 | ||||
| Retained deficit | (72,025) | (73,617) | ||||
| Total Company’s stockholders’ deficit | (26,598) | (29,530) | ||||
| Noncontrolling interest | 75 | 52 | ||||
| Total stockholders’ deficit | (26,523) | (29,478) | ||||
| Total Liabilities and Deficit | $ | 220,825 | $ | 203,052 | ||
GLOBAL CROSSING AIRLINES GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
(In thousands, except share and per share amounts)
| Three Months Ended September 30, 2026 | Three Months Ended September 30, 2025 | Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||||||||
| Revenue | $ | 71,768 | $ | 58,022 | $ | 210,352 | $ | 186,004 | ||||
| Operating Expenses | ||||||||||||
| Salaries, Wages, & Benefits | 20,952 | 21,279 | 62,013 | 59,979 | ||||||||
| Aircraft Fuel | 4,204 | 1,340 | 16,094 | 11,782 | ||||||||
| Maintenance, materials and repairs | 7,259 | 5,153 | 18,821 | 14,413 | ||||||||
| Depreciation and amortization | 6,390 | 3,245 | 16,630 | 8,099 | ||||||||
| Contracted ground and aviation services | 5,258 | 3,343 | 17,430 | 14,123 | ||||||||
| Travel | 2,671 | 1,708 | 7,788 | 6,988 | ||||||||
| Insurance | 1,225 | 1,271 | 3,694 | 3,808 | ||||||||
| Aircraft Rent | 15,299 | 14,649 | 41,165 | 43,809 | ||||||||
| Other | 4,467 | 4,999 | 15,201 | 15,582 | ||||||||
| Total Operating Expenses | $ | 67,725 | $ | 56,987 | $ | 198,836 | $ | 178,583 | ||||
| Operating Income | 4,043 | 1,035 | 11,516 | 7,421 | ||||||||
| Non-Operating Expenses | ||||||||||||
| Interest Expense | 3,817 | 2,990 | 10,890 | 8,233 | ||||||||
| Gain on Settlement | - | - | (1,049) | - | ||||||||
| Total Non-Operating Expenses | 3,817 | 2,990 | 9,841 | 8,233 | ||||||||
| Income (Loss) before income taxes | 226 | (1,955) | 1,675 | (812) | ||||||||
| Income tax expense | - | - | - | - | ||||||||
| Net Income (Loss) | 226 | (1,955) | 1,675 | (812) | ||||||||
| Net (Loss) Income attributable to Noncontrolling Interest | (12) | 4 | 83 | 385 | ||||||||
| Net Income (Loss) attributable to the Company | 238 | (1,959) | 1,592 | (1,197) | ||||||||
| Income (Loss) per share: | ||||||||||||
| Basic | $ - | $ | (0.03) | $ | 0.02 | $ | (0.02) | |||||
| Diluted | $ - | $ | (0.03) | $ | 0.02 | $ | (0.02) | |||||
| Weighted average number of shares outstanding | 67,811,715 | 64,664,058 | 66,930,404 | 63,649,789 | ||||||||
| Weighted-average shares outstanding—Diluted | 70,305,523 | 64,664,058 | 69,484,812 | 63,649,789 | ||||||||
GLOBAL CROSSING AIRLINES GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(UNAUDITED)
(In thousands, except shares quantities)
| Common Stock Number of Shares | Amount | Additional Paid in Capital | Retained Deficit | Total | Noncontrolling Interest | Total | ||||||||||||
| Beginning – January 1, 2025 | 61,758,727 | $ | 62 | $ | 40,949 | $ | (70,566) | $ | (29,555) | $ | 87 | $ | (29,468) | |||||
| Issuance of shares – options exercised | 50,000 | — | 12 | — | 12 | — | 12 | |||||||||||
| Issuance of shares – share based compensation on RSUs | 1,876,109 | 2 | 534 | — | 536 | — | 536 | |||||||||||
| Income for the period | — | — | — | 154 | 154 | 372 | 526 | |||||||||||
| Issuance of shares - ESPP | 5,496 | — | 3 | — | 3 | — | 3 | |||||||||||
| Ending – March 31, 2025 | 63,690,332 | $ | 64 | $ | 41,498 | $ | (70,412) | $ | (28,850) | $ | 459 | $ | (28,391) | |||||
| Issuance of shares – options exercised | 196,667 | — | 49 | — | 49 | — | 49 | |||||||||||
| Issuance of shares – share based compensation on RSUs | 309,994 | 1 | 776 | — | 777 | — | 777 | |||||||||||
| Issuance of shares - ESPP | 258,796 | — | 168 | — | 168 | — | 168 | |||||||||||
| Proceeds from disgorgement of stockholders' short-swing profits (Note 12) | — | — | 12 | — | 12 | — | 12 | |||||||||||
| Distributions to noncontrolling interest | — | — | — | — | — | (148) | (148) | |||||||||||
| Income for the period | — | — | — | 608 | 608 | 9 | 617 | |||||||||||
| Ending – June 30, 2025 | 64,455,789 | $ | 65 | $ | 42,503 | $ | (69,804) | $ | (27,236) | $ | 320 | $ | (26,916) | |||||
| Issuance of shares – share based compensation on RSUs | 498,219 | — | 827 | — | 827 | — | 827 | |||||||||||
| Distributions to noncontrolling interest | — | — | — | — | - | (200) | (200) | |||||||||||
| (Loss) Income for the period | — | — | — | (1,959) | (1,959) | 4 | (1,955) | |||||||||||
| Ending – September 30, 2025 | 64,954,008 | $ | 65 | $ | 43,330 | $ | (71,763) | $ | (28,368) | $ | 124 | $ | (28,244) | |||||
| Common Stock Number of Shares | Amount | Additional Paid in Capital | Retained Deficit | Total | Noncontrolling Interest | Total | ||||||||||||
| Beginning – January 1, 2026 | 65,618,453 | $ | 65 | $ | 44,022 | $ | (73,617) | $ | (29,530) | $ | 52 | $ | (29,478) | |||||
| Issuance of shares - share based compensation on RSUs | 1,051,668 | 1 | 496 | — | 497 | — | 497 | |||||||||||
| Income for the period | — | — | — | 2,691 | 2,691 | 129 | 2,820 | |||||||||||
| Ending – March 31, 2026 | 66,670,121 | $ | 66 | $ | 44,518 | $ | (70,926) | $ | (26,342) | $ | 181 | $ | (26,161) | |||||
| Issuance of shares - share based compensation on RSUs | 246,826 | 1 | 613 | — | 614 | — | 614 | |||||||||||
| Issuance of shares - ESPP | 255,518 | — | 166 | — | 166 | — | 166 | |||||||||||
| Distributions to noncontrolling interest | — | — | — | — | — | (60) | (60) | |||||||||||
| Loss for the period | — | — | — | (1,337) | (1,337) | (34) | (1,371) | |||||||||||
| Ending – June 30, 2026 | 67,172,465 | $ | 67 | $ | 45,297 | $ | (72,263) | $ | (26,899) | $ | 87 | $ | (26,812) | |||||
| Issuance of shares - share based compensation on RSUs | 2,394,628 | 3 | 60 | — | 63 | — | 63 | |||||||||||
| Income (Loss) for the period | — | — | — | 238 | 238 | (12) | 226 | |||||||||||
| Ending – September 30, 2026 | 69,567,093 | $ | 70 | $ | 45,357 | $ | (72,025) | $ | (26,598) | $ | 75 | $ | (26,523) | |||||
GLOBAL CROSSING AIRLINES GROUP INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(In thousands)
| For The Nine Months Ended September 30, | ||||||
| 2026 | 2025 | |||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net Income (Loss) | $ | 1,675 | $ | (812) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation and amortization | 16,630 | 8,099 | ||||
| Credit losses | 273 | 111 | ||||
| Loss on sale of spare parts | 11 | 82 | ||||
| Amortization of debt issue costs | 621 | 584 | ||||
| Amortization of operating lease right of use assets | 10,764 | 14,950 | ||||
| Share-based payments | 1,174 | 2,166 | ||||
| Interest on finance leases | 5,554 | 3,295 | ||||
| Changes in assets and liabilities: | ||||||
| Accounts receivable | (599) | 1,714 | ||||
| Spare parts | 258 | (5) | ||||
| Prepaid expenses and other current assets | (1,652) | (1,772) | ||||
| Accounts payable | 2,342 | 1,509 | ||||
| Accrued liabilities, deferred revenue and customer deposits | (2,904) | (1,423) | ||||
| Operating lease obligations | (10,941) | (15,618) | ||||
| Other liabilities | (6,767) | (3,340) | ||||
| Net cash provided by operating activities | 16,439 | 9,540 | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Deposits, deferred costs and other assets | (4,801) | (1,561) | ||||
| Purchases of property and equipment | (7,491) | (10,042) | ||||
| Net cash used in investing activities | (12,292) | (11,603) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Principal payments on finance leases | (8,044) | (3,783) | ||||
| Principal payments on note payable | (2,423) | (678) | ||||
| Debt issue costs | - | (169) | ||||
| Proceeds on issuance of shares | 166 | 207 | ||||
| Distributions to noncontrolling interest | (60) | (348) | ||||
| Proceeds from disgorgement of stockholders’ short-swing profits | - | 12 | ||||
| Net cash used in financing activities | (10,361) | (4,759) | ||||
| Net decrease in cash, cash equivalents, and restricted cash | (6,214) | (6,822) | ||||
| Cash, cash equivalents and restricted cash - beginning of the period | 20,503 | 14,043 | ||||
| Cash, cash equivalents and restricted cash - end of the period | $ | 14,289 | $ | 7,221 | ||
| Non-cash investing and financing activities | ||||||
| Reclass of Property and equipment to Accounts receivable (aircraft receivable) and Prepaid expenses and other current assets (deferred maintenance) | $ | - | $ | 117 | ||
| Right-of-use (ROU) assets acquired through operating leases | $ | 27,701 | $ | 383 | ||
| Right-of-use (ROU) assets reclassification of existing lease | $ | 6,491 | $ | - | ||
| Aircraft acquired through note payable | $ | - | $ | 14,650 | ||
| Aircraft acquired through finance leases | $ | 11,478 | $ | 3,453 | ||
| Airframe acquired through finance leases | $ | 4,302 | $ | 3,536 | ||
| Reclass of Property and equipment to finance leases (aircraft initial direct costs) | $ | 389 | $ | - | ||
| Equipment acquired through finance leases | $ | - | $ | 387 | ||
| Cash paid for | ||||||
| Interest | $ | 8,977 | $ | 7,794 | ||