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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Successor    
Operating activities:    
Net cash used in operating activities $ (2,373,800)  
Investing activities:    
Proceeds from sale of aircraft and aircraft engines held for lease, net of re-sale fees  
Net cash provided by investing activities  
Financing activities:    
Repayment of notes payable – MUFG Credit Facility and Drake Loan  
Repayment of notes payable – Nord Loans  
Issuance of notes payable – PPP Loan  
Debt issuance costs  
Net cash used in financing activities  
Net decrease in cash and cash equivalents (2,373,800)  
Cash and cash equivalents, beginning of period 7,380,700  
Cash and cash equivalents, end of period $ 5,006,900  
Predecessor    
Operating activities:    
Net cash used in operating activities   $ (176,700)
Investing activities:    
Proceeds from sale of aircraft and aircraft engines held for lease, net of re-sale fees   10,850,700
Net cash provided by investing activities   10,850,700
Financing activities:    
Repayment of notes payable – MUFG Credit Facility and Drake Loan   (11,011,700)
Repayment of notes payable – Nord Loans   (703,100)
Issuance of notes payable – PPP Loan   170,000
Debt issuance costs   (5,200)
Net cash used in financing activities   (11,550,000)
Net decrease in cash and cash equivalents   (876,000)
Cash and cash equivalents, beginning of period   5,100,900
Cash and cash equivalents, end of period   $ 4,224,900