−Removed: Flight Equipment
−Removed: As of September 30, 2023, our aircraft fleet consisted of the following :
+Added: As of September 30, 2024, our active aircraft fleet consisted of the following :
Aircraft Type
3 unchanged sentences
CRJ-700 Regional Jet
−Removed: Boeing 737 Cargo Jet
Several factors impact our fleet size, including contract expirations, lease expirations, growth opportunities and opportunities to transition to an alternative airline partner.
Below is a summary of our fleet by aircraft type.
−Removed: Our actual future fleet size and mix of aircraft types will likely vary, and may vary materially, from our current fleet size.
−Removed: E-175s –
−Removed: As of September 30, 2023, we operated 54 E-175 aircraft under our United CPA.
+Added: Our actual future fleet size and mix of aircraft types may vary materially from our current fleet size.
+Added: ▪ E-175s – As of September 30, 2024, we operated 55 E-175 aircraft under our United CPA.
As part of our Amended and Restated United CPA, we agreed to extend the term of 42 of our E-175 aircraft (owned by United) for an additional five years which will now expire between 2024 and 2028, subject to United's early termination rights.
1 unchanged sentence
In addition, 18 of the E-175 aircraft (owned by us) operating under our United CPA expire between January 2028 and November 2028, subject to United's early termination rights.
−Removed: Our United CPA permits United, subject to certain conditions, including the payment of certain costs tied to aircraft type, to terminate the United CPA in its discretion, or remove aircraft from service, by giving us 90 days’
−Removed: CRJ-900s –
−Removed: As of September 30, 2023, we operated 26 CRJ-900 aircraft under our United CPA and 28 CRJ-900 aircraft as operational spares.
−Removed: As part of our Amended and Restated United CPA, we may operate up to 38 CRJ-900 aircraft on behalf of United, dependent on the number of E-175 aircraft we are operating.
−Removed: CRJ-700s –
−Removed: As of September 30, 2023, our fleet included two CRJ-700 aircraft which were leased to a third party.
−Removed: Boeing 737 Cargo Jets –
−Removed: As of September 30, 2023, we leased one Bowing 737 aircraft from a third party and subleased three Boeing 737 aircraft from DHL under our DHL FSA.
−Removed: The DHL FSA expires five years from the commencement date of the first aircraft placed into service.
−Removed: The first revenue generating flight took place in October 2020.
+Added: Our United CPA permits United, subject to certain conditions, including the payment of certain costs tied to aircraft type, to terminate the United CPA in its discretion, or remove aircraft from service, by giving us 90 days’ notice.
+Added: ▪ CRJ-900s – As of September 30, 2024, we operated 12 CRJ-900 aircraft under our United CPA.
+Added: Subsequent to September 30, 2024, we entered into an agreement with United which provides for the removal from CRJ-900 aircraft from the CPA.
+Added: ▪ CRJ-700s – As of September 30, 2024, our fleet included two CRJ-700 aircraft which were leased to a third party.
+Added: Subsequent to September 30, 2024, we entered into an agreement with United to buy the aircraft out of their lease with the third party and to purchase them for $11.0 million.
In addition to aircraft, we have office and maintenance facilities to support our operations.
16 unchanged sentences
Tucson, Arizona
−Removed: Warehouse, Office
−Removed: Erlanger, Kentucky
We believe our facilities are suitable and adequate for our current and anticipated needs.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.