Item 2. Properties
ITEM 2. PROPERTIES
Flight Equipment
As of December 31, 2025 , we had 311 regional jet aircraft as described in the following table. Regional jet aircraft exclude 115 aircraft dedicated to training and structured time-building operations.
Type Total Aircraft (1)
Owned (1)(2)
Finance Leases Partner Controlled (3)
Average Age (in years) Seating Configuration
E170/175 311 193 11 107 13.0 65-76 seats
(1) Includes five spare and 31 aircraft that have been leased to another airline.
(2) 46% of our owned aircraft have a debt obligation in exchange for a first lien on the aircraft.
(3) Refers to our aircraft with leasing arrangements between us and our Partner Airlines. We refer to these aircraft as “Partner Controlled” aircraft.
All of our leased aircraft are leased pursuant to finance leases, with current lease expirations ranging from 2030 to 2031 . We have options to renew certain leases for an additional term or purchase the leased aircraft at the end of the applicable current lease term at fair market value.
As of December 31, 2025 , our facilities are summarized in the following table:
Facility
Square Feet
Location
Aviation Campus Headquarters
125,000 Carmel, IN
Office space
33,770 Phoenix, AZ
Office space
91,048 Indianapolis, IN
Office and warehouse space
38,248 El Paso, TX
Phoenix t raining c enter
13,183 Phoenix, AZ
Indianapolis t raining c enter
40,144 Indianapolis, IN
Aviation Campus Training Center
107,400 Carmel, IN
Aviation Campus Hotel
164,770 Carmel, IN
Aviation Campus Parking Garage 298,367 Carmel, IN
Maintenance h angar
110,469 Indianapolis, IN
Maintenance h angar
149,370 Columbus, OH
Maintenance h angar
125,818 Louisville, KY
Maintenance h angar
99,605 Pittsburgh, PA
Maintenance h angar
74,524 Houston, TX
Maintenance h angar
50,768 Dulles, VA
Maintenance s torage
10,500 Astoria, NY
LIFT office and hangar
25,566 Myrtle Beach, SC
LIFT office and hangar
14,256 Galveston, TX
LIFT office and hangar
14,880 Tuskegee, AL
LIFT office and hangar
33,447 Indianapolis, IN
We lease all of our facilities with the exception of the Aviation Campus Training Center (“Training Center”), Aviation Campus Hotel (“Brickyard Hotel”), Aviation Campus Headquarters (“Headquarters”), and Aviation Campus Parking Garage. During the year ended December 31, 2023, we entered into a loan agreement which is collateralized by the Training Center and Brickyard Hotel. Further, in 2024, we began construction on our new Headquarters adjacent to the Training Center and Brickyard Hotel in Carmel, Indiana, which was completed in January 2026. Additionally, during the year ended December 31, 2025, we purchased additional land and began construction on additional associate accommodations at the Brickyard Hotel. All leased facilities are subject to either long-term leases or on a month-to-month basis.
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