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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 29, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 29, 2021
Sep. 30, 2020
Successor            
Operating lease revenue        
Maintenance reserves revenue, net        
Finance lease revenue          
Net (loss)/gain on disposal of assets        
Other income/(loss)          
other income        
Total income          
Impairment in value of aircraft        
Interest        
Professional fees, general and administrative and other        
Depreciation        
Bad debt expense          
Salaries and employee benefits        
Insurance        
PPP Loan forgiveness          
Maintenance        
Other taxes        
(Gain) Loss from operating        
Reorganization gains, net        
Gain (loss) before income tax provision/(benefit)        
Income tax provision/(benefit)        
Net income (loss)        
Other comprehensive income/(loss):            
Unrealized losses on derivative instruments        
Reclassification of net unrealized losses on derivative instruments to interest expense        
Tax expense related to items of other comprehensive loss        
Other comprehensive income        
Total comprehensive loss        
Loss per share:            
Basic (in Dollars per share)        
Diluted (in Dollars per share)        
Weighted average shares used in loss per share computations:            
Basic (in Shares) 4,416,811     4,416,811    
Diluted (in Shares) 4,416,811     4,416,811    
Predecessor            
Operating lease revenue   $ 1,546,300 $ 3,249,100   $ 5,753,900 $ 12,395,800
Maintenance reserves revenue, net   65,100 221,400   221,400
Finance lease revenue         56,300
Net (loss)/gain on disposal of assets   19,800   (194,900) 8,700
Other income/(loss)         2,700 (23,200)
other income   500   5,561,700 12,659,000
Total income   1,611,900 3,490,300      
Impairment in value of aircraft   439,000   4,204,400 16,820,500
Interest   1,500 3,020,100   1,966,700 13,492,700
Professional fees, general and administrative and other   2,001,000 1,370,600   3,650,800 4,368,900
Depreciation   10,200 1,342,100   1,176,100 5,514,900
Bad debt expense         1,147,000 1,170,000
Salaries and employee benefits   448,800 498,800   1,441,900 1,533,500
Insurance   197,500 191,400   661,600 602,900
PPP Loan forgiveness         (279,200)
Maintenance   33,300 78,000   224,100 246,400
Other taxes   25,600 26,500   76,700 77,600
(Gain) Loss from operating   2,717,900 6,966,500   14,270,100 43,827,400
Reorganization gains, net   28,691,100     27,738,300
Gain (loss) before income tax provision/(benefit)   27,585,100 (3,476,200)   19,029,900 (31,168,400)
Income tax provision/(benefit)   76,900 604,900   129,800 (3,391,200)
Net income (loss)   27,508,200 (4,081,100)   18,900,100 (27,777,200)
Other comprehensive income/(loss):            
Unrealized losses on derivative instruments     (575,000)
Reclassification of net unrealized losses on derivative instruments to interest expense   149,100   2,600 1,706,200
Tax expense related to items of other comprehensive loss   (32,400)   (600) (243,200)
Other comprehensive income   116,700   2,000 888,000
Total comprehensive loss   $ 27,508,200 $ (3,964,400)   $ 18,902,100 $ (26,889,200)
Loss per share:            
Basic (in Dollars per share)   $ 17.79 $ (2.64)   $ 12.23 $ (17.97)
Diluted (in Dollars per share)   $ 17.79 $ (2.64)   $ 12.23 $ (17.97)
Weighted average shares used in loss per share computations:            
Basic (in Shares)   1,545,884 1,545,884   1,545,884 1,545,884
Diluted (in Shares)   1,545,884 1,545,884   1,545,884 1,545,884