Item 2. Properties
ITEM 2. PROPERTIES
Fleet
As of September 30, 2024, our active aircraft fleet consisted of the following :
Average
Passenger
Flight
Cruising
Average
Aircraft Type
Owned
Leased
Total
Capacity
Range (miles)
Speed (mph)
Age (years)
E-175 Regional Jet
18
37
55
70-76
2,100
530
8.7
CRJ-900 Regional Jet
7
5
12
76-79
1,500
530
18.2
CRJ-700 Regional Jet
—
2
2
50-70
1,600
530
17.4
Total
25
44
69
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. Our actual future fleet size and mix of aircraft types may vary materially from our current fleet size.
▪ 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. United also has the right to extend the term of these aircraft for four additional three-year increments. 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. 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.
▪ CRJ-900s – As of September 30, 2024, we operated 12 CRJ-900 aircraft under our United CPA. Subsequent to September 30, 2024, we entered into an agreement with United which provides for the removal from CRJ-900 aircraft from the CPA.
▪ CRJ-700s – As of September 30, 2024, our fleet included two CRJ-700 aircraft which were leased to a third party. 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.
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Facilities
In addition to aircraft, we have office and maintenance facilities to support our operations. Each of our facilities are summarized in the following table:
Type
Location
Ownership
Approximate
Square Feet
Corporate Headquarters
Phoenix, Arizona
Leased
33,770
Training Center
Phoenix, Arizona
Leased
23,783
Parts/Stores
Phoenix, Arizona
Leased
12,000
Hangar
Phoenix, Arizona
Leased
22,467
Office, Hangar and Warehouse
El Paso, Texas
Leased
31,292
Parts Storage
Dallas, Texas
Leased
8,143
Hangar
Houston, Texas
Leased
74,524
Hangar
Louisville, Kentucky
Leased
26,762
Hangar
Dulles, Washington
Leased
28,451
Cargo Building
Dulles, Washington
Leased
1,475
Warehouse
Tucson, Arizona
Leased
13,276
We believe our facilities are suitable and adequate for our current and anticipated needs.