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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues and other income:        
Operating lease revenue $ 4,207,600 $ 9,146,700 $ 1,470,300 $ 4,378,500
Net (loss)/gain on disposal of assets (194,900) (11,100) 6,800 13,100
Finance lease revenue 0 56,300 0 0
Other income/(loss) 2,200 (23,200) 3,600 0
other income 4,014,900 9,168,700 1,480,700 4,391,600
Expenses:        
Impairment in value of aircraft 4,204,400 16,381,500 2,264,000 9,726,600
Interest 1,916,600 10,472,500 1,900 4,459,500
Professional fees, general and administrative and other 1,714,900 2,998,500 119,600 2,148,200
Depreciation 1,165,800 4,172,800 466,600 2,002,400
Bad debt expense 1,147,000 1,170,000 326,000 0
Salaries and employee benefits 993,100 1,034,700 486,700 517,700
Reorganization costs 952,800 0 952,800 0
Insurance 464,100 411,400 216,300 224,600
PPP Loan forgiveness (279,200) 0 (279,200) 0
Maintenance 239,500 168,400 94,500 88,200
Other taxes 51,100 51,100 25,600 25,600
loss from operating 12,570,100 36,860,900 4,674,800 19,192,800
Loss before income tax provision/(benefit) (8,555,200) (27,692,200) (3,194,100) (14,801,200)
Income tax provision/(benefit) 52,900 (3,996,100) 3,700 (1,283,500)
Net loss $ (8,608,100) $ (23,696,100) $ (3,197,800) $ (13,517,700)
Loss per share:        
Basic $ (5.57) $ (15.33) $ (2.07) $ (8.74)
Diluted $ (5.57) $ (15.33) $ (2.07) $ (8.74)
Weighted average shares used in loss per share computations:        
Basic weigt 1,545,884 1,545,884 1,545,884 1,545,884
Diluted wweighte 1,545,884 1,545,884 1,545,884 1,545,884