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REVENUE RECOGNITION (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

The following table disaggregates revenue by service type and the timing of when these services are provided to the member or customer (in thousands):


	Three Months Ended March 31,
	2023		2022
Services transferred at a point in time:
Flights, net of discounts and incentives	$	231,762	$	236,363
Aircraft management	61,242		58,049
Other	31,807		7,178

Services transferred over time:
Memberships	21,680		20,647
Aircraft management	2,452		2,457
Other	2,869		941
Total	$	351,812	$	325,635

Schedule of Accounts Receivable Net

Accounts receivable, net consists of the following (in thousands):


	March 31, 2023		December 31, 2022
Gross receivables from members and customers	$	108,890	$	112,243
Undeposited funds	6,404		10,122
Less: Allowance for credit losses	(7,635)		(9,982)
Accounts receivable, net	$	107,659	$	112,383

Schedule of Deferred Revenue

Deferred revenue consists of the following (in thousands):


	March 31, 2023		December 31, 2022
Flights - Prepaid Blocks	$	927,607	$	1,023,985
Memberships - annual dues	41,624		43,970
Memberships - initiation fees	3,677		3,899
Flights - credits	2,423		4,246
Other	2,096		775
Deferred revenue - total	977,427		1,076,875

Less: Deferred revenue - current	(975,735)		(1,075,133)
Deferred revenue - non-current	$	1,692	$	1,742

Changes in deferred revenue for the three months ended March 31, 2023 were as follows (in thousands):


Deferred revenue as of December 31, 2022	$	1,076,875
Amounts deferred during the period	173,226
Revenue recognized from amounts included in the deferred revenue beginning balance	(219,462)
Revenue from current period sales	(53,212)
Deferred revenue as of March 31, 2023	$	977,427

Schedule of Revenue Expected to be Recognized in Future Periods

Revenue expected to be recognized in future periods for performance obligations that are unsatisfied, or partially unsatisfied, as of March 31, 2023 were as follows (in thousands):


Remainder of 2023	$	478,252
2024	323,290
2025	88,253
2026	87,632
Total	$	977,427