XML 20 R7.htm IDEA: XBRL DOCUMENT v3.23.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:      
Net (Loss)/Income $ (120,116) $ (182,678) $ 16,588
Adjustments to reconcile net loss to net cash flows provided by (used in)) operating activities:      
Depreciation and amortization 60,359 81,508 82,847
Stock compensation expense 2,275 2,761 3,126
Unrealized (gain)/loss on investments, net (5,408) 13,715 6,816
Deferred income taxes (9,304) (52,221) 5,665
Amortization of deferred credits 1,535 (852) (2,357)
Amortization of debt discount and issuance costs and accretion of interest into long-term debt 6,324 9,681 11,379
Asset impairment 54,343 171,824  
(Gain) on sale of assets (7,162) (4,723) 78
Loss/(Gain) on extinguishment of debt 1,505 397 (950)
Other 2,236 867 4,888
Changes in assets and liabilities:      
Receivables (4,275) (811) 10,545
Expendable parts and supplies (2,530) (2,882) (1,865)
Prepaid expenses and other operating assets and liabilities (769) (679) (56)
Accounts payable 496 (2,772) 7,861
Deferred heavy maintenance, net (1,382) (8,066) (3,857)
Deferred revenue (3,020) (10,432) 10,742
Accrued expenses and other liabilities (3,938) (3,175) (8,911)
Operating lease right-of-use assets and liabilities 4,740 1,900 (9,668)
Net cash (used in) provided by operating activities (24,091) 13,362 132,871
Cash flows from investing activities:      
Capital expenditures (36,641) (40,814) (17,149)
Investments in equity securities   (200) (10,000)
Proceeds from sale of aircraft and engines 178,644 50,000  
Refund (payment) of equipment and other deposits 282 (7,621) (6,322)
Net cash provided by (used in) investing activities 142,285 1,365 (33,471)
Cash flows from financing activities:      
Proceeds from long-term debt 60,878 39,811 195,000
Principal payments on long-term debt and finance leases (203,029) (114,910) (271,033)
Payments of debt and warrant issuance costs (917) (2,414) (1,326)
Proceeds from issuance of common stock under ESPP 284 399 471
Payment of tax withholding for RSUs (363) (455) (1,486)
Net cash used in financing activities (143,147) (77,569) (78,374)
Net change in cash, cash equivalents and restricted cash (24,953) (62,842) 21,026
Cash, cash equivalents and restricted cash at beginning of period 61,025 123,867 102,841
Cash, cash equivalents and restricted cash at end of period 36,072 61,025 123,867
Supplemental cash flow information      
Cash paid for interest 38,410 24,895 32,767
Cash paid for income taxes, net 419 487 404
Operating lease payments in operating cash flows 9,476 36,262 47,612
Supplemental non-cash operating activities      
Right-of-use assets obtained in exchange for lease liabilities 2,919 6,286 4,309
Supplemental non-cash financing activities      
Finance lease obtained in exchange for lease liability 65,481    
Acquisition of finance leases   15,122 15,122
Investments in warrants to purchase common stock   3,260 21,964
Accrued capital expenditures $ 196 $ 1,121 439
Debt issuance cost related to loan agreement with U.S. Department of the Treasury     $ (1,887)