v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (39,176) $ (60,844)
Adjustments to reconcile net loss to net cash from operating activities:    
Depreciation and amortization 11,326 13,173
Amortization of finance lease right-of-use assets 695 0
Amortization of contract costs 754 547
Non-cash interest income (634) (1,402)
Non-cash interest expense 1,726 747
Non-cash rent expense 11,244 10,787
(Gain) loss on aircraft sales and aircraft held for sale (1,190) 1,417
(Gain) on lease termination (19) (138)
Provision for credit losses 72 1,916
Provision for inventory reserve 10 0
Realized (gain) loss on investment securities 294 46
Change in fair value of warrant liability (781) 3,679
Loss on extinguishment of debt 4,161 0
Stock-based compensation 2,013 0
Changes in operating assets and liabilities, net of effects from acquisitions:    
Other receivables (756) (1,066)
Parts and supplies inventory (677) (908)
Prepaid expenses and other current assets (2,461) 811
Operating lease liabilities (11,034) (10,973)
Other assets (157) (73)
Accounts payable 12,027 510
Other current liabilities 522 (3,945)
Deferred revenue (5,154) (2,797)
Other non-current liabilities 6,374 6,390
Net cash flows from operating activities (10,101) (42,170)
Cash flows from investing activities:    
Capitalized development costs (23) (274)
Purchases of property and equipment (4,108) (28,131)
Proceeds from sales of property and equipment 31,521 23,734
Finance lease direct initial costs (381) 0
Purchases of engine overhauls (9,628) (9,801)
Purchases of investments (15,457) (41,635)
Proceeds from sale of investments 80,025 44,543
Proceeds from notes receivable 0 15,015
Net cash flows from investing activities 81,949 3,451
Cash flows from financing activities:    
Proceeds from issuance of debt 3,474 71,413
Repayment of debt (79,407) (50,458)
Payment of deferred financing costs 0 0
Payment of debt issuance costs (373) (2,844)
Principal payments from finance leases (278) 0
Payment of dividends, preferred stock (360) 0
Cash contributions - noncontrolling interests 633 260
Cash distributions - noncontrolling interests (17,212) (6,189)
Proceeds from preferred stock issuance, net of issuance costs 5,800 24,250
Net cash flows from financing activities (87,723) 36,432
Net increase (decrease) in cash and cash equivalents (15,875) (2,287)
Cash and cash equivalents at beginning of period 31,694 11,626
Cash and cash equivalents at end of period 15,819 9,339
Non-cash investing and financing activities:    
Exchange of public warrants for flyExclusive Class A common stock 0 371
Change in redemption value of redeemable noncontrolling interest 24,839 186,707
FlyExclusive Class A common stock issued on cashless exercise of public warrants 0 4,337
Issuance of penny warrants in connection with Class A Preferred temporary equity issuance 0 3,746
Increase in dividends payable and accreted discount on Series A Preferred temporary equity 0 1,257
Transfers from prepaid engine overhaul to property and equipment 2,403 8,305
Transfer of fixed assets and prepaid engine overhauls to held for sale 605 0
Unrealized change in fair value of available-for-sale securities 56 193
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 8,023 3,571
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability 14,023 0
Non-cash exchanges for non-controlling ownership interest 1,063 0
Acquisition of non-controlling interests 0 6,892
Series A Preferred Stock    
Non-cash investing and financing activities:    
Dividends payable on Temporary Equity 2,039 0
Series B Preferred stock    
Non-cash investing and financing activities:    
Dividends payable on Temporary Equity 2,315 0
Private Placement Warrants    
Adjustments to reconcile net loss to net cash from operating activities:    
Change in fair value of warrant liability (304) 1,451
Penny Warrants    
Adjustments to reconcile net loss to net cash from operating activities:    
Change in fair value of warrant liability (300) (2,324)
Public Warrants    
Adjustments to reconcile net loss to net cash from operating activities:    
Change in fair value of warrant liability (177) 4,552
Nonrelated Party    
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable (700) (188)
Related Party    
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable $ 1,420 $ 141

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