v3.25.2
Operating Segments and Related Disclosures
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Operating Segments and Related Disclosures Operating Segments and Related Disclosures
The Company operates in a single reportable segment that provides air transportation to passengers. The Company’s Chief Operating Decision Maker (“CODM”) regularly evaluates the Company’s condensed consolidated operating income (loss) to make decisions regarding resource allocation and performance assessment. Additionally, significant segment expenses provided to the CODM align with those shown in the condensed consolidated statement of operations.
During the first quarter of 2025, Ted Christie, then President and Chief Executive Officer, served as the Company’s CODM and was responsible for overseeing operating performance, allocating resources and regularly communicating with executive team on these matters. Subsequently, on April 6, 2025, Ted Christie stepped down from his role. On April 17, 2025, the Board of Directors appointed David Davis as President and Chief Executive Officer and as a member of the Board, in each case effective as of April 21, 2025. Beginning on the effective date, Mr. Davis assumed the role of CODM and became responsible for overseeing the Company’s operating performance, resource allocation, and executive-level decision-making. For more information on the condensed consolidated operating results of the Company’s single reportable segment, refer to the Company’s condensed consolidated statements of operations.
The Company is managed as a single business unit that provides air transportation for passengers. Operating revenues by geographic region as defined by the Department of Transportation ("DOT") are summarized below (in thousands):
SuccessorPredecessor
Three Months Ended June 30, 2025Three Months Ended June 30, 2024
DOT—Domestic$913,770 $1,141,272 
DOT—Latin America106,063 139,617 
Total$1,019,833 $1,280,889 

SuccessorPredecessor
Period from March 13, 2025 through June 30, 2025Period from January 1, 2025 through March 12, 2025Six Months Ended June 30, 2024
DOT—Domestic$1,149,190 $663,201 $2,235,762 
DOT—Latin America127,688 92,153 310,664 
Total$1,276,878 $755,354 $2,546,426