Surf Air Mobility (SRFM) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 09, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Trading Symbol	SRFM
Entity Registrant Name	Surf Air Mobility Inc.
Entity Central Index Key	0001936224
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Securities Act File Number	001-41759
Entity Tax Identification Number	36-5025592
Entity Address, Address Line One	12111 S. Crenshaw Blvd
Entity Address, City or Town	Hawthorne
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90250
City Area Code	424
Local Phone Number	332-5480
Entity Common Stock, Shares Outstanding		89,785,706
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common stock, $0.0001 par value per share
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 1,460	$ 1,720
Accounts receivable, net	4,487	4,965
Prepaid expenses and other current assets	9,928	11,051
Total current assets	15,875	17,736
Restricted cash	614	711
Property and equipment, net	47,041	45,991
Intangible assets, net	24,890	26,663
Operating lease right-of-use assets	10,523	12,818
Finance lease right-of-use assets	1,273	1,343
Other assets	5,331	5,727
Total assets	105,547	110,989
Current liabilities:
Accounts payable	25,983	18,854
Accrued expenses and other current liabilities	78,897	59,582
Deferred revenue	17,072	19,011
Current maturities of long-term debt	4,922	5,177
Operating lease liabilities, current	4,322	4,104
Finance lease liabilities, current	256	215
SAFE notes at fair value, current	6	25
Convertible notes at fair value, current	8,014	7,715
Total current liabilities	186,843	140,114
Long-term debt, net of current maturities	18,346	20,617
Operating lease liabilities, long term	3,894	5,507
Finance lease liabilities, long term	1,078	1,137
Due to related parties, long term	987	1,673
Other long term liabilities	22,489	19,426
Total liabilities	233,637	188,474
Commitments and contingencies (Note 12)
Shareholders' deficit:
Common shares, $0.0001 par value; 800,000,000 shares authorized as of both June 30, 2024 and December 31, 2023; 87,029,425 shares issued and outstanding as of June 30, 2024 and 76,150,437 shares issued and outstanding as of December 31, 2023	8	8
Additional paid-in capital	538,385	525,042
Accumulated deficit	(666,483)	(602,535)
Total shareholders' deficit	(128,090)	(77,485)
Total liabilities and shareholders' deficit	105,547	110,989
Related Party
Current liabilities:
Due to related parties, current	$ 47,371	$ 25,431

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	87,029,425	76,150,437
Common stock, shares outstanding	87,029,425	76,150,437

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 32,366	$ 6,195	$ 62,990	$ 11,702
Operating expenses:
Cost of revenue, exclusive of depreciation and amortization	27,729	7,049	56,218	13,699
Technology and development	5,658	816	12,667	1,629
Sales and marketing	2,578	1,927	5,587	3,321
General and administrative	19,596	9,296	44,205	17,736
Depreciation and amortization	2,062	261	4,040	519
Total operating expenses	57,623	19,349	122,717	36,904
Operating loss	(25,257)	(13,154)	(59,727)	(25,202)
Other income (expense):
Changes in fair value of financial instruments carried at fair value, net	(154)	(30,404)	(669)	(38,500)
Interest expense	(1,911)	(525)	(3,582)	(697)
Loss on extinguishment of debt		(389)		(389)
Other income (expense)	304	(48)	(51)	(305)
Total other income (expense), net	(1,761)	(31,366)	(4,302)	(39,891)
Loss before income taxes	(27,018)	(44,520)	(64,029)	(65,093)
Income tax benefit	35	0	81	0
Net loss	$ (26,983)	$ (44,520)	$ (63,948)	$ (65,093)
Net loss per share applicable to common shareholders, basic	$ (0.33)	$ (3.14)	$ (0.8)	$ (4.6)
Net loss per share applicable to common shareholders, diluted	$ (0.33)	$ (3.14)	$ (0.8)	$ (4.6)
Weighted-average number of common shares used in net loss per share applicable to common shareholders, basic	81,890,955	14,168,091	79,599,848	14,138,856
Weighted-average number of common shares used in net loss per share applicable to common shareholders, diluted	81,890,955	14,168,091	79,599,848	14,138,856

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statement of Changes in Redeemable Convertible Preferred Shares and Shareholders' Deficit - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Shares	Preferred Shares Class B-6s Convertible Preferred Shares	Common/Ordinary Shares [Member]	Additional Paid-In Capital	Accumulated Deficit
Balance at Dec. 31, 2022		$ 130,667
Balance (in Shares) at Dec. 31, 2022		229,144,283
Balance at Dec. 31, 2022	$ (222,089)		$ 3,414	$ 1	$ 126,335	$ (351,839)
Balance (in Shares) at Dec. 31, 2022			71,478,742	12,487,438
Issuance of common stock related to stock option exercises	31				31
Issuance of common stock related to stock option exercises, (in Shares)				25,307
Issuance of Class B-6a redeemable convertible preferred shares		$ 3,000
Issuance of Class B-6a redeemable convertible preferred shares, (in Shares)		5,711,720
Conversion of outstanding payables to Class B-6s convertible preferred shares	202		$ 202
Conversion of outstanding payables to Class B-6s convertible preferred shares, (in Shares)			486,402
Conversion of related party promissory note to Class B-6s convertible preferred shares	5,260		$ 4,418		842
Conversion of related party promissory note to Class B-6s convertible preferred shares, (in Shares)			9,932,241
Exercise of warrants, (in Shares)				905,081
Issuance of related party SAFEs	(444)				(444)
Issuance of Class B-6s to service providers	855		$ 855
Issuance of Class B-6s to service providers, (in Shares)			1,921,778
Stock-based compensation expense	1,943				1,943
Net loss	(65,093)					(65,093)
Balance at Jun. 30, 2023		$ 133,667
Balance (in Shares) at Jun. 30, 2023		234,856,003
Balance at Jun. 30, 2023	(279,335)		$ 8,889	$ 1	128,707	(416,932)
Balance (in Shares) at Jun. 30, 2023			83,819,163	13,417,826
Balance at Dec. 31, 2022		$ 130,667
Balance (in Shares) at Dec. 31, 2022		229,144,283
Balance at Dec. 31, 2022	(222,089)		$ 3,414	$ 1	126,335	(351,839)
Balance (in Shares) at Dec. 31, 2022			71,478,742	12,487,438
Balance at Dec. 31, 2023	(77,485)			$ 8	525,042	(602,535)
Balance (in Shares) at Dec. 31, 2023				76,150,437
Balance at Mar. 31, 2023		$ 130,667
Balance (in Shares) at Mar. 31, 2023		229,144,283
Balance at Mar. 31, 2023	(241,518)		$ 3,414	$ 1	127,479	(372,412)
Balance (in Shares) at Mar. 31, 2023			71,478,742	12,487,438
Issuance of common stock related to stock option exercises	31				31
Issuance of common stock related to stock option exercises, (in Shares)				25,307
Issuance of Class B-6a redeemable convertible preferred shares		$ 3,000
Issuance of Class B-6a redeemable convertible preferred shares, (in Shares)		5,711,720
Conversion of outstanding payables to Class B-6s convertible preferred shares	202		$ 202
Conversion of outstanding payables to Class B-6s convertible preferred shares, (in Shares)			486,402
Conversion of related party promissory note to Class B-6s convertible preferred shares	5,260		$ 4,418		842
Conversion of related party promissory note to Class B-6s convertible preferred shares, (in Shares)			9,932,241
Exercise of warrants, (in Shares)				905,081
Issuance of related party SAFEs	(444)				(444)
Issuance of Class B-6s to service providers	855		$ 855
Issuance of Class B-6s to service providers, (in Shares)			1,921,778
Stock-based compensation expense	799				799
Net loss	(44,520)					(44,520)
Balance at Jun. 30, 2023		$ 133,667
Balance (in Shares) at Jun. 30, 2023		234,856,003
Balance at Jun. 30, 2023	(279,335)		$ 8,889	$ 1	128,707	(416,932)
Balance (in Shares) at Jun. 30, 2023			83,819,163	13,417,826
Balance at Dec. 31, 2023	(77,485)			$ 8	525,042	(602,535)
Balance (in Shares) at Dec. 31, 2023				76,150,437
Issuance of common stock under software license agreement, shares				8,908,800
Issuance of common stock under software license agreement, value	6,000				6,000	0
Issuance of common shares under Share Purchase , Shares				1,358,342
Issuance of common shares under Share Purchase	1,456			$ 0	1,456
Issuance of common stock related to stock option exercises	$ 1				1
Issuance of common stock related to stock option exercises, (in Shares)	1,946			1,946
Issuance of common stock related to restricted shares (shares)				426,888
Issuance of common stock under marketing agreement, shares				183,012
Issuance of common stock under marketing agreement, value	$ 187			$ 0	187
Stock-based compensation expense	5,699				5,699
Net loss	(63,948)					(63,948)
Balance at Jun. 30, 2024		$ 0
Balance (in Shares) at Jun. 30, 2024		0
Balance at Jun. 30, 2024	(128,090)		$ 0	$ 8	538,385	(666,483)
Balance (in Shares) at Jun. 30, 2024			0	87,029,425
Balance at Mar. 31, 2024	(106,301)			$ 8	533,191	(639,500)
Balance (in Shares) at Mar. 31, 2024				81,917,187
Issuance of common stock under software license agreement, shares				4,856,727
Issuance of common stock under software license agreement, value	2,000				2,000
Issuance of common stock related to stock option exercises	1				1
Issuance of common stock related to stock option exercises, (in Shares)				1,946
Issuance of common stock related to restricted shares (shares)				115,836
Issuance of common stock under marketing agreement, shares				137,729
Issuance of common stock under marketing agreement, value	137				137
Stock-based compensation expense	3,056				3,056
Net loss	(26,983)					(26,983)
Balance at Jun. 30, 2024		$ 0
Balance (in Shares) at Jun. 30, 2024		0
Balance at Jun. 30, 2024	$ (128,090)		$ 0	$ 8	$ 538,385	$ (666,483)
Balance (in Shares) at Jun. 30, 2024			0	87,029,425

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (44,520)	$ (63,948)	$ (65,093)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	261	4,040	519
Loss on extinguishment of debt	389		389
Gain on sale of fixed asset		(187)
Non-cash operating lease expense		2,762
Stock-based compensation expense	1,653	19,995	2,798
Changes in fair value of financial instruments carried at fair value, net		669	38,500
Amortization of debt discounts and debt issuance costs		92
Deferred income taxes		(81)
Changes in operating assets and liabilities:
Accounts receivable, net		478	94
Prepaid expenses and other current assets		703	170
Other assets		396
Accounts payable		11,980	472
Due to a related party		2,598
Accrued expenses and other current liabilities		6,350	568
Deferred revenue		(1,552)	961
Operating lease liabilities		(2,714)
Other liabilities		(13)
Cash flows used in operating activities		(18,432)	(20,622)
Cash flows from investing activities:
Purchase of property and equipment		(1,420)	(203)
Internal-use software development costs		(1,201)	(97)
Net cash used in investing activities		(2,621)	(300)
Cash flows from financing activities:
Payments of borrowings on convertible notes			(35)
Principal payments on long-term debt		(1,547)
Proceeds from borrowings of SAFE notes			3,715
Proceeds from advances under Share Purchase Agreement		3,811
Proceeds from collateralized borrowings, net of repayment		(964)
Proceeds from borrowings from related parties		19,508	16,477
Proceeds from the issuance of Class B-6a redeemable convertible preferred shares			3,000
Proceeds from exercise of stock options		1	29
Payment of finance lease obligations		(113)
Net cash provided by financing activities		20,696	23,186
Increase (decrease) in cash, cash equivalents and restricted cash		(357)	2,264
Cash, cash equivalents and restricted cash at beginning of period		2,431	912
Cash, cash equivalents and restricted cash at end of period	$ 3,176	$ 2,074	$ 3,176

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (26,983)	$ (44,520)	$ (63,948)	$ (65,093)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2024
Description of Business [Abstract]
Description of Business	Note 1. Description of Business Organization Surf Air Mobility Inc. (the “Company”), a Delaware corporation, is building a regional air mobility ecosystem that will aim to sustainably connect the world’s communities. The Company intends to accelerate the adoption of green flying by developing, together with its commercial partners, fully-electric and hybrid-electric powertrain technology to upgrade existing fleets, and by creating a financing and services infrastructure to enable this transition on an industry-wide level. Surf Air Global Limited (“Surf Air”) is a British Virgin Islands holding company and was formed on August 15, 2016. Surf Air is a technology-enabled regional air travel network, offering daily scheduled flights and on-demand charter flights. Its customers consist of regional business and leisure travelers. Headquartered in Hawthorne, California, Surf Air commenced flight operations in June 2013. Internal Reorganization On July 21, 2023, SAGL Merger Sub Inc., a wholly-owned subsidiary of the Company, was merged with and into Surf Air, after which Surf Air became a wholly-owned subsidiary of the Company (the “Internal Reorganization”). Pursuant to the Internal Reorganization, all ordinary shares of Surf Air outstanding as of immediately prior to the closing, were canceled in exchange for the right to receive shares of the Company’s common stock and all rights to receive ordinary shares of Surf Air (after giving effect to the conversions) were exchanged for shares of the Company’s common stock (or warrants, options or RSUs to acquire the Company’s common stock, as applicable) at a ratio of 22.4 Surf Air shares to 1 share of the Company’s common stock. Such conversions, as they relate to the ordinary shares of Surf Air, and all rights to receive ordinary shares, have been reflected as of all periods presented herein. On July 27, 2023, the Company’s common stock was listed for trading on the New York Stock Exchange (“NYSE”). As the Internal Reorganization took place on July 21, 2023, the consolidated financial statements reflect the financial position, results of operations and cash flows of Surf Air, the predecessor to the Company, for all periods prior to July 21, 2023. Following the Internal Reorganization, the financial position, results of operations and cash flows are those of the Company. Southern Acquisition On July 27, 2023 (the “Acquisition Date”), immediately prior to the Company’s listing on the NYSE and after the consummation of the Internal Reorganization, the Company effected the acquisition of all equity interests of Southern Airways Corporation (“Southern”), whereby a wholly-owned subsidiary of the Company merged with and into Southern, after which Southern became a wholly-owned subsidiary of the Company (the “Southern Acquisition”). Pursuant to the Southern Acquisition, Southern stockholders were to receive 16,250,000 shares of the Company’s common stock, which was based on the aggregate merger consideration of $ 81.25 million at the $ 5.00 per share opening price on the first day of listing of the Company’s common stock. In total, 16,249,963 shares of Company common stock were issued to former Southern shareholders while the remaining amount was paid out in cash in lieu of fractional shares to those shareholders on a pro rata basis. Southern Airways Corporation is a Delaware corporation that was founded on April 5, 2013, and together with its wholly-owned subsidiaries Southern Airways Express, LLC, Southern Airways Pacific, LLC, Southern Airways Autos, LLC, and Multi-Aero Inc. is referred to hereafter collectively as “Southern.” Southern is a scheduled service commuter airline serving cities across the United States that is headquartered in Palm Beach, Florida and commenced flight operations in June 2013. It is a certified Part 135 operator which operates a fleet of over 50 aircraft, including the Cessna Caravan, the Cessna Grand Caravan, the Saab 340, the Pilatus PC-12, and the Tecnam Traveller. Southern provides both seasonal and full-year scheduled passenger air transportation service in the Mid-Atlantic and Gulf regions, Rockies and West Coast, and Hawaii, with select routes subsidized by the United States Department of Transportation (“U.S. DOT”) under the Essential Air Service (“EAS”) program. Following the Southern Acquisition, the Company operates a combined regional airline network servicing U.S. cities across the Mid-Atlantic, Gulf South, Midwest, Rocky Mountains, West Coast, New England and Hawaii. Liquidity and Going Concern The Company has incurred losses from operations, negative cash flows from operating activities and has a working capital deficit. In addition, the Company is currently in default of certain excise and property taxes as well as certain debt obligations. These tax and debt obligations are classified as current liabilities on the Company’s Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. As discussed in Note 12, Commitments and Contingencies , on May 15, 2018, the Company received a notice of a tax lien filing from the Internal Revenue Service (“IRS”) for unpaid federal excise taxes for the quarterly periods beginning October 2016 through September 2017 in the amount of $ 1.9 million, including penalties and interest as of the date of the notice. The Company agreed to a payment plan (the “Installment Plan”) whereby the IRS would take no further action and remove such liens at the time such amounts have been paid. In 2019, the Company defaulted on the Installment Plan. Defaulting on the Installment Plan can result in the IRS nullifying such plan, placing the Company in default and taking collection action against the Company for any unpaid balance. The Company’s total outstanding federal excise tax liability including accrued penalties and interest of $ 7.9 million is included in accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheet as of June 30, 2024 . During June 2024, the Company submitted a formal offer-in-compromise (“OIC”) to the IRS, seeking to resolve all consolidated excise tax liabilities. Under the terms of the OIC, all collection actions against the Company, in relation to these matters, will be abated and the Company will be making monthly payments of $ 34 thousand on historical excise tax liabilities while the IRS is considering the OIC. The Company has also defaulted on its property tax obligations in various California counties in relation to fixed assets, plane usage and aircraft leases. The Company’s total outstanding property tax liability including penalties and interest is approximately $ 1.7 million as of June 30, 2024. Additionally, Los Angeles County has imposed a tax lien on four of the Company’s leased aircraft due to the late filing of the Company’s 2022 property tax return. As of June 30, 2024, the amount of property tax, interest and penalties accrued related to the Los Angeles County tax lien for all unpaid tax years was approximatel y $ 1.2 million. The Company is in the process of remediating the late filing and payment of the property taxes due to Los Angeles County. As of June 30, 2024, the Company was also in default of the Simple Agreements for Future Equity with Token allocation (“SAFE-T”) note, where the note matured in July 2019. The SAFE-T note is subordinate to the Company’s Convertible Note Purchase Agreement (as defined below) ; therefore, the Company cannot pay the outstanding balance prior to paying amounts due under the Convertible Note Purchase Agreement. The SAFE-T note had an outstanding principal amount of $ 0.5 million as of June 30, 2024 (see Note 8, Financing Arrangements ). In connection with past due rental and maintenance payments under certain aircraft leases totaling in aggregate approximately $ 5.0 million, which is accrued for at June 30, 2024 and December 31, 2023 , the Company entered into a payment plan pursuant to which all payments of the past due amounts are deferred until such time as the Company receives at least $ 30.0 million in aggregate funds in connection with any capital contribution, at which time it is required to repay $ 1.0 million of such past due payments, with the eventual full repayment of the remaining amounts being required upon the receipt of at least $ 50.0 million in capital contributions. As of June 30, 2024 , the Company has classified $ 1.0 million as a current liability as potentially triggered by capital contributions received as follows: the funds received by the Company in July 2023 of $ 8.0 million under a convertible note purchase agreement with Partners for Growth V, L.P. (“PFG”), $ 25.0 million through the share purchase agreement (“SPA”) with GEM Global Yield LLC SCS (“GEM”), and an entity affiliated with GEM that provides incremental financing (the “GEM Purchase”), and $ 14.0 million in cumulative funding through advances and share draws under the Share Purchase Agreement with GEM. As of June 30, 2024 the Company has no t made any payments under this payment plan. The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The airline industry and the Company’s operations are cyclical and highly competitive. The Company’s success is largely dependent on the ability to raise debt and equity capital, achieve a high level of aircraft and crew utilization, increase flight services and the number of passengers flown, and continue to expand into regions profitably throughout the United States. The Company’s prospects and ongoing business activities are subject to the risks and uncertainties frequently encountered by companies in new and rapidly evolving markets. Risks and uncertainties that could materially and adversely affect the Company’s business, results of operations or financial condition include, but are not limited to, the ability to: (i) raise additional capital (or financing) to fund operating losses, (ii) refinance its current outstanding debt, (iii) maintain efficient aircraft utilization, primarily through the proper utilization of pilots and managing market shortages of maintenance personnel and critical aircraft components, (iv) sustain ongoing operations, (v) attract and maintain customers, (vi) integrate, manage and grow recent acquisitions and new business initiatives, (vii) obtain and maintain relevant regulatory approvals, and (viii) measure and manage risks inherent to the business model. Prior to the year ended December 31, 2023, the Company has funded its operations and capital needs primarily through the net proceeds received from the issuance of various debt instruments, convertible securities, related party funding, and preferred and common share financing arrangements. During the year ended December 31, 2023 , the Company received $ 8 million under a convertible note purchase agreement with PFG, $ 25.0 million through the GEM Purchase Agreement and $ 10.2 million in advances and draws under the second amended and restated Share Purchase Agreement with GEM (see Note 9, Share Purchase Agreement and GEM Purchase ). During the six months ended June 30, 2024, the Company received an additional $ 2.5 million in advances under the second amended and restated Share Purchase Agreement with GEM. The Company had previously filed a Form S-1 registration statement (File No. 333-274573) with the U.S. Securities and Exchange Commission (the “SEC”), registering up to 25 million shares of the Company’s common stock, which represents 1,000,000 shares of the Company’s common stock issued to GEM under the GEM Purchase Agreement, 1,300,000 shares of the Company’s common stock issued to GEM in connection with the initial issuance to GEM under the Share Purchase Agreement, 4,000,000 shares of the Company’s common stock issued to GEM in satisfaction of the commitment fee under the Share Purchase Agreement, and up to 18,700,000 shares of the Company’s common stock to be issued to GEM in connection with the Share Purchase Agreement. Additionally, the Company had previously filed a Form S-1 registration statement (File No. 333-275434) with the SEC, registering up to 300.0 million shares of the Company’s common stock, which represents the balance of the full amount of shares of common stock that the Company estimated could be issued and sold to GEM for advances under the Share Purchase Agreement, plus the amount of shares the Company estimated could be sold to GEM for $ 50 million under the Share Purchase Agreement, (collectively, the “Prior Registration Statements”). In connection with the GEM Mandatory Convertible Security (see Note 9, Share Purchase Agreement and GEM Purchase ), the Company deregistered all of the shares registered but unsold under the Prior Registration Statements on June 4, 2024. The combined 325,000,000 shares contemplated under the Prior Registration Statements have been included in a Form S-1 Registration Statement (File No. 333-279929), which was declared effective by the SEC on August 7, 2024. As of June 30, 2024 , the contractual terms allow the Company to make further advances of up to $ 90.0 million under the Share Purchase Agreement. Additionally, the Company has the ability to draw an additional $ 296.0 million under the Share Purchase Agreement, subject to daily volume limitations and GEM’s requirement to hold less than 10 % of the fully-diluted shares of the Company. As of June 30, 2024 , GEM held 4.5 % of the then fully-diluted shares of the Company. At June 30, 2024 , the daily volume limitations under the Share Purchase Agreement restricted our ability to take additional draws under the Share Purchase Agreement to approximately 5.7 million shares per draw. Additionally, the Company’s ability to draw upon the Share Purchase Agreement is contingent on the Company’s common stock being listed on a national exchange. The Company is currently attempting to resolve two listing requirement violations with the New York Stock Exchange. While not currently subject to de-listing, the Company’s inability to cure these listing requirement violations would impact its ability to raise capital through the Share Purchase Agreement. The Company is currently implementing operational improvements and stringent operating expenses management to improve the profitability of its regional airline operations in the near term, with a longer-term focus on improvements to its on-demand airline operations. In parallel, the Company is advancing its technology initiatives, including its software technology platform and Caravan electrification programs. In addition, the Company continues to evaluate strategies to obtain additional funding for future operations. These strategies may include, but are not limited to, obtaining additional equity financing, issuing additional debt or entering into other financing arrangements, forming joint venture and other partnerships, and restructuring of operations to grow revenues and decrease expenses. There can be no assurance that the Company will be successful in achieving its strategic plans, that new financing will be available to the Company in a timely manner or on acceptable terms, if at all. If the Company is unable to raise sufficient financing when needed or events or circumstances occur such that the Company does not meet its strategic plans or, the Company will be required to take additional measures to conserve liquidity, which could include, but not necessarily limited to, reducing certain spending, altering or scaling back development plans, including plans to equip regional airline operations with fully-electric or hybrid-electric aircraft, or reducing funding of capital expenditures, which would have a material adverse effect on the Company’s financial position, results of operations, cash flows, and ability to achieve its intended business objectives. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the SEC for interim financial information. Accordingly, the interim financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2023 and the related notes, as included in the Company’s Form 10-K filed on March 29, 2024. The information herein reflects all material adjustments, including normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results for the period presented. The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 . Except to the extent discussed below, there have been no material changes to the Company’s significant accounting policies during the six months ended June 30, 2024 from those disclos ed in the notes to the Company’s consolidated financial statements for the year ended December 31, 2023 . Basis of Presentation and Principles of Consolidation The condensed consolidated financial statements include the assets, liabilities, and operating results of the Company. All intercompany balances and transactions have been eliminated in consolidation. Business Combination The Company is required to use the acquisition method of accounting for business combinations. The acquisition method of accounting requires the Company to allocate the purchase consideration to the assets acquired and liabilities assumed from the acquiree based on their respective fair values as of the Acquisition Date. The excess of the fair value of purchase consideration over the fair value of these assets acquired and liabilities assumed is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing intangible assets include, but are not limited to, expected future cash flows, which includes consideration of future revenue growth and margins, and discount rates. Fair value estimates are based on the assumptions that management believes a market participant would use in pricing the asset or liability. These estimates are inherently uncertain and, therefore, actual results may differ from the estimates made. As a result, during the measurement period of up to one year from the Acquisition Date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of the purchase price of an acquisition, whichever comes first, any subsequent adjustments are recorded in the Consolidated Statements of Operations. Accounts Receivable, Net Accounts receivable primarily consist of amounts due from the U.S. DOT in relation to certain air routes served by the Company under the EAS program, amounts due from airline and non-airline business partners, and pending transactions with credit card processors. Receivables from the U.S. DOT and our business partners are typically settled within 30 days. All accounts receivable are reported net of an allowance for credit losses, which was not material as of June 30, 2024, and December 31, 2023 . The Company has considered past and future financial and qualitative factors, including aging, payment history and other credit monitoring indicators, when establishing the allowance for credit losses. Collateralized Borrowings The Company has a revolving accounts receivable financing arrangement that currently allows the Company to borrow a designated percentage of eligible accounts receivable due from the U.S. DOT, in relation to certain air routes served by the Company under the EAS program, up to a maximum unsettled amount of $ 3 million. The financing arrangement is uncommitted, and upon funding does not qualify for sale accounting as the Company does not relinquish control of the receivables based on, among other things, the nature and extent of the Company’s continuing involvement. Accordingly, the accounts receivable remain on the Company’s balance sheet until paid by the customer and cash proceeds from the financing arrangement are recorded as collateralized borrowing in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets, with attributable interest expense recognized over the life of the related transactions. Interest expense and contractual fees associated with the collateralized borrowings are included in interest expense and other expense, net, respectively, in the accompanying Condensed Consolidated Statements of Operations. During April 2024, the Company received notice from the counterparty to its accounts receivable financing arrangement that such arrangement would be terminated as of May 20, 2024. Additionally, the borrowing capacity under the arrangement was reduced to 80 % of eligible accounts receivable. The Company subsequently executed an option to extend the arrangement beyond May 20, 2024 through the payment of a $ 100 thousand non-refundable, fully earned, and irrevocable extension fee. Following the extension, the borrowing capacity under the arrangement will be reduced by an additional 10 % of eligible accounts receivable on the 20 th of each subsequent month, until the extension formally expires in December 2024. Restricted Stock Unit Awards The grant date fair value of restricted stock units (“RSUs”) is estimated based on the fair value of the Company’s common stock on the date of grant. Prior to the Company’s direct listing in July 2023, RSUs granted by the Company vested upon the satisfaction of both service-based vesting conditions and liquidity event-related performance vesting conditions. The liquidity event-related performance vesting conditions were achieved upon the consummation of the Company's direct listing. Stock-based compensation related to such awards was recorded in full, as of the date of the Company’s direct listing. Since the Company’s direct listing in July 2023, the Company has only granted RSUs that vest upon the satisfaction of a service-based vesting condition and the compensation expense for these RSUs is recognized on a straight-line basis over the requisite service period. The Company has granted founder performance-based restricted stock units (“Founder PRSUs”) that contain a market condition in the form of future stock price targets. The grant date fair value of the Founder PRSUs was determined using a Monte Carlo simulation model and the Company estimates the derived service period of the Founder PRSUs. The grant date fair value of Founder PRSUs containing a market condition is recorded as stock-based compensation over the derived service period. If the stock price goals are met sooner than the derived service period, any unrecognized compensation expenses related to the Founder PRSUs will be expensed during the period in which the stock price targets are achieved. Provided that each founder continues to be employed by the Company, stock-based compensation expense is recognized over the derived service period, regardless of whether the stock price goals are achieved. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expense during the reporting period. On an ongoing basis, the Company evaluates its estimates using historical experience and other factors including the current economic and regulatory environment as well as management’s judgment. Items subject to such estimates and assumptions include: revenue recognition and related allowances, valuation allowance on deferred tax assets, certain accrued liabilities, useful lives and recoverability of long-lived assets, fair value of assets acquired and liabilities assumed in acquisitions, legal contingencies, assumptions underlying convertible notes and convertible securities carried at fair value and stock-based compensation. These estimates may change as new events occur and additional information is obtained and such changes are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting , which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for fiscal periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our consolidated financial statements and financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its financial statements.

Business Combination

Business Combination	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Business Combination	Note 3. Business Combination On July 27, 2023 , the Company completed the acquisition of all issued and outstanding shares of Southern. The Southern Acquisition expands the Company’s regional airline network servicing U.S. cities across the Mid-Atlantic, Gulf South, Midwest, Rocky Mountains, West Coast, New England and Hawaii. Total consideration is comprised of $ 81.25 million of equity consideration, through the issuance of 16,250,000 shares of the Company’s common stock on close of the Southern Acquisition and $ 699 thousand of payments made by the Company to settle debt obligations of Southern, which were not assumed as part of the acquisition. As the transaction closed prior to the Company’s listing on the NYSE on July 27, 2023, the fair value of the common stock issued to Southern stockholders was based on the opening trading price of the Company’s common stock on July 27, 2023 of $ 5.00 per share. Subsequent to the issuance of shares of the Company’s common stock as purchase consideration, the Company repurchased 403,667 shares from employees for $ 1.3 million in satisfaction of employee tax withholdings related to such issuance. The Company allocated the purchase price to $ 27.1 million of identified intangible assets and $ 5.1 million of net liabilities, with the excess purchase price of $ 60.0 million recorded as goodwill. During the fourth quarter of 2023, the Company recorded an impairment of the goodwill initially recorded due to the identification of impairment indicators, such as additional delays of aircraft maintenance due to the unavailability of parts, which resulted in a higher cancellation rate of scheduled flights. These delays have continued into 2024. Additionally, the Company incurred higher cash requirements than expected to fund the operations of the Southern reporting unit during the fourth quarter of 2023, primarily due to higher maintenance costs. Further, unplanned delays in aircraft deliveries under the Textron aircraft supply agreement, including December 2023 cancellations of both firm deliveries and additional purchase options, have delayed re-fleeting efforts. The resulting goodwill impairment charge of $ 60.0 million was the result of comparing the fair value of the Southern reporting unit to its carrying value.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	Note 4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following ( in thousands ): June 30, December 31, Prepaid insurance $ 497 $ 2,306 Prepaid software 2,417 2,647 Prepaid marketing 2,381 2,406 Engine reserves 1,972 1,150 Vendor operator prepayments 748 634 Prepaid fuel 259 301 Other 1,654 1,607 Total prepaid expenses and other current assets $ 9,928 $ 11,051

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Note 5. Property, Plant and Equipment, Net Property and equipment, net, consists of the following ( in thousands ): June 30, December 31, Aircraft, equipment and rotable spares $ 41,137 $ 39,196 Equipment purchase deposits 5,000 5,000 Leasehold improvements 2,255 2,479 Office, vehicles and ground equipment 1,225 1,179 Internal-use software 1,709 508 Property and equipment, gross 51,326 48,362 Accumulated depreciation ( 4,285 ) ( 2,371 ) Property and equipment, net $ 47,041 $ 45,991 The Company recorded depreciation expense of $ 1.2 million and $ 114 thousand for the three months ended June 30, 2024 and 2023 , respectively. The Company recorded depreciation expense of $ 2.2 million and $ 222 thousand for the six months ended June 30, 2024 and 2023, respectively. Depreciation expense is recognized as a component of Depreciation and Amortization expense in the accompanying Condensed Consolidated Statement of Operations. For the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023 , any gain or loss on disposal of property and equipment was not material.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Note 6. Intangible Assets, Net Intangibles assets, net, consists of the following ( in thousands ): June 30, December 31, EAS contracts $ 25,770 $ 25,770 Tradenames and trademarks 8,340 8,340 Software 3,122 3,122 Other intangibles 242 242 Intangible assets, gross 37,474 37,474 Accumulated amortization ( 12,584 ) ( 10,811 ) Intangible assets, net $ 24,890 $ 26,663 The Company recorded amortization expense of $ 0.9 million and $ 148 thousand for the three months ended June 30, 2024 and 2023 , respectively. The Company recorded amortization expense of $ 1.8 million and $ 297 thousand for the six months ended June 30, 2024 and 2023, respectively. Amortization expense is recognized as a component of Depreciation and Amortization expense in the accompanying Condensed Consolidated Statement of Operations. Expected future amortization as of June 30, 2024 is as follows ( in thousands ): Amount Remainder of 2024 $ 1,772 2025 3,051 2026 2,915 2027 2,764 2028 2,577 Thereafter 11,811 Total $ 24,890

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Note 7. Accrued Expenses and Other Current Liabilities A ccrued expenses and other current liabilities consisted of the following ( in thousands ): June 30, December 31, Accrued compensation and benefits $ 45,017 $ 26,751 Accrued professional services 10,913 11,473 Excise and franchise taxes payable 7,899 7,672 Collateralized borrowings 2,013 2,977 Software license fee payable 6,250 2,000 Aircraft contract termination payable 128 1,454 Accrued Monarch legal settlement 1,314 1,314 Insurance premium liability — 1,131 Accrued major maintenance 245 980 Interest and commitment fee payable 231 190 Statutory penalties 282 520 Other accrued liabilities 4,605 3,120 Total accrued expenses and other current liabilities $ 78,897 $ 59,582 Collateralized Borrowings The Company has a revolving accounts receivable financing arrangement that currently allows the Company to borrow a designated percentage of eligible accounts receivable, as defined in the agreement, up to a maximum unsettled amount of $ 3 million. The agreement is secured by a first security interest in all assets of Southern Airways Express, a subsidiary of Southern, and is subject to monthly reductions in borrowing capacity through December 2024. The related interest rate is the prime rate plus 1 % per annum. Additionally, the Company pays certain ancillary fees associated with each borrowing that vary depending on the borrowed amount and duration, which is generally no more than 45 days. For the three months ended June 30, 2024 , the Company borrowed a total of $ 11.1 million under this financing facility, of which $ 7.7 million was settled through the transfer of pledged receivables. Interest expense incurred on these borrowings for the three months ended June 30, 2024 amounted to $ 129 thousand, and is included in interest expense in the accompanying Condensed Consolidated Statements of Operations. For the six months ended June 30, 2024 , the Company borrowed a total of $ 23.1 million under this financing facility, of which $ 21.0 million was settled through the transfer of pledged receivables. Interest expense incurred on these borrowings for the six months ended June 30, 2024 amounted to $ 259 thousand, and is included in interest expense in the accompanying Condensed Consolidated Statements of Operations. As of June 30, 2024, and December 31, 2023 , the outstanding amount due under this facility amounted to $ 2.0 million and $ 3.0 million, respectively. As of June 30, 2024, and December 31, 2023 , the Company was in compliance with all covenants.

Financing Arrangements

Financing Arrangements	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Financing Arrangements	Note 8. Financing Arrangements The Company’s total debt due to unrelated parties consist of the following (in thousands) : June 30, December 31, Note payable to a financing company, fixed interest rate of 7.60 %, due November 2024 $ 116 $ 257 Note payable to bank, fixed interest rate of 4.65 %, due November 2025 10 15 Note payable to a financing company, fixed interest rate of 5.49 %, due December 2026 155 184 Notes payable to Clarus Capital, fixed interest rate of 8.66 %, due April , June and September 2027 14,713 16,476 Notes payable to Skywest, fixed interest rates of 4 % and 9 %, due April 2028 and November 2024 , respectively 5,185 5,656 Note payable to Tecnam, fixed interest rate of 6.75 %, due July and August 2032 3,089 3,206 Long-term debt, gross 23,268 25,794 Current maturities of long-term debt ( 4,922 ) ( 5,177 ) Long-term debt, net of current maturities $ 18,346 $ 20,617 Future maturities of total debt as of June 30, 2024 are as follows (in thousands) : Amount Remainder of 2024 $ 3,659 2025 2,512 2026 2,710 2027 12,032 2028 685 Thereafter 1,670 Total $ 23,268 The Company is subject to customary affirmative covenants and negative covenants on all of the above notes payable. As of June 30, 2024, the Company was in compliance with all covenants in the loan agreements. Fair Value of Convertible Instruments The Company has elected the fair value option for the convertible notes, which requires them to be remeasured to fair value each reporting period with changes in fair value recorded in changes in fair value of financial instruments carried at fair value, net, on the Condensed Consolidated Statements of Operations, except for change in fair value that results from a change in the instrument specific credit risk which is presented separately within other comprehensive income. The fair value estimate includes significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. On June 21, 2023, the Company entered into a convertible note purchase agreement (the “Convertible Note Purchase Agreement”) with Partners for Growth V, L.P. (“PFG”) for a senior unsecured convertible promissory note for an aggregate principal amount of $ 8.0 million (the “PFG Investment”). The note bears interest at a rate of 9.75 % and matures on December 31, 2024 . All unpaid principal and interest balances may be converted into shares of the Company’s common stock, at the option of the holder, at a price equal to 120 % of the initial listing price of the Company’s common stock. On July 27, 2023, the Company received $ 8.0 million in funding, following satisfaction of all conditions precedent outlined under the Convertible Note Purchase Agreement. Based on the $ 5.00 per share opening price on the first day of listing of the Company’s common stock, the principal of the Convertible Note Purchase Agreement would be convertible into 1,333,333 shares of the Company’s common stock. Fair value of convertible notes (in thousands) : Fair Value at June 30, 2024 December 31, 2023 Convertible Note Purchase Agreement 8,014 7,715 Total $ 8,014 $ 7,715 The Company is subject to customary affirmative covenants and negative covenants with respect to the Convertible Note Purchase Agreement. These covenants are in the form of minimum liquidity requirements the Company must maintain. The Company has received a waiver from PFG regarding the maintenance of minimum cash requirement of $ 10 million. The waiver effectively waives the requirement through the maturity date of December 31, 2024. As of June 30, 2024 , the Company was in compliance with all other covenants under the Convertible Note Purchase Agreement. Fair Value of SAFE Notes The Company’s SAFE-T note is carried at fair value, with fair value determined using Level 3 inputs. The Company determined that the SAFE-T instruments should be classified as liabilities based on evaluating the characteristics of the instruments, which contained both debt and equity-like features. The SAFE-T instrument matured in July 2019. As of June 30, 2024 and December 31, 2023, the Company was in default of the SAFE-T note, but the holder has elected not to effect an equity conversion of the instrument. The SAFE-T note is subordinate to the Company’s Convertible Note Purchase Agreement; therefore, the Company cannot pay the outstanding balance prior to paying amounts due under the Convertible Note Purchase Agreement. The SAFE-T note had an outstanding principal amount of $ 0.5 million as of December 31, 2023 and June 30. 2024. Subsequent changes in the fair value of the SAFE-T notes are recorded as part of changes in fair value of financial instruments carried at fair value, net, within the Condensed Consolidated Statements of Operations. Fair value of SAFE-T note (in thousands) : Fair Value at June 30, 2024 December 31, 2023 SAFE-T 6 25 Total $ 6 $ 25 Less: SAFE notes at fair value, current ( 6 ) ( 25 ) SAFE notes at fair value, long term $ — $ —

Share Purchase Agreement and GE

Share Purchase Agreement and GEM Purchase	6 Months Ended
	Jun. 30, 2024
Share Purchase Agreement [Abstract]
Share Purchase Agreement and GEM Purchase	Note 9. Share Purchase Agreement and GEM Purchase Share Purchase Agreement During 2020, the Company entered into the SPA with GEM and an entity affiliated with GEM to provide incremental financing in the event the Company completed a business combination transaction with a special purpose acquisition company (“SPAC”), IPO, or direct listing. Pursuant to the SPA, GEM is required to purchase shares of the Company’s common stock at a discount to the volume weighted average trading price up to a maximum aggregate purchase price of $ 200.0 million, and in return the Company agreed to pay a total commitment fee of $ 4.0 million (the “Commitment Fee”) payable in installments at the time of each purchase of shares of the Company’s common stock or no later than one year from the anniversary of a public listing transaction and issued a forward contract for GEM to purchase 0.75 % of the Company’s fully-diluted shares of common stock outstanding upon completion of a public listing transaction at an exercise price of $ 0.01 per share. On May 17, 2022, February 8, 2023, and September 18, 2023, the SPA was amended to increase the maximum aggregate shares of the Company’s common stock that may be required to be purchased by GEM to $ 400.0 million (the “Aggregate Limit”) and increase the Commitment Fee to GEM to 4,000,000 shares of the Company’s common stock. Pursuant to the amended and restated SPA, and subject to the satisfaction of certain conditions, the Company will have the right from time to time at its option to direct GEM to purchase up to the Aggregate Limit of shares of the Company’s common stock over the term of the amended and restated SPA. Upon its public listing, the Company may request GEM to provide advances under the SPA in an aggregate amount of up to $ 100.0 million, provided that individual advances are not to exceed $ 25.0 million each, with the first advance not to exceed $ 7.5 million. Each advance will reduce the amount that the Company can request for future purchases under the SPA. On September 29, 2023, the Company received its first advance under the SPA in the amount of $ 4.5 million, on a total request of $ 7.5 million, with the remaining $ 3.0 million being received on October 3, 2023. Concurrent with the receipt of funds, the Company issued 4,000,000 shares of its common stock to GEM in full satisfaction of the commitment fee. The Company has deposited 18,000,000 shares of common stock into an escrow account as of June 30, 2024 , as required under the SPA, which is intended to be at least two times the number of shares contemplated to settle the advance upon the close of the pricing period for the advance. The number of shares to be transferred to GEM will be based on an average of the volume-weighted average trading price of the Company’s common stock over a period of fifteen trading days following the receipt of an advance, subject to a 15 day extension in certain circumstances. This average price will be subject to a contractual discount of 10 %. Additionally, contractual provisions within the SPA provide that in no event may GEM receive a share issuance, from a draw under the SPA, that would raise their share ownership percentage above 10 % of the Company. This provision may impact the Company’s ability to request additional purchases under the SPA. On June 15, 2023, July 21, 2023, and July 24, 2023, the SPA was further amended to modify the number of shares of the Company’s common stock to be issued to GEM at the time of a public listing transaction of the Company from an amount equal to 0.75 % of the Company’s fully-diluted shares of common stock outstanding to a fixed 1,300,000 shares of the Company’s common stock. The amendments to the SPA also modified certain registration requirements whereby the Company was obligated to file a re-sale registration statement within 5 business days of the Company’s public listing. On July 27, 2023, concurrent with the Company’s direct listing, the Company issued 1,300,000 shares of the Company’s common stock to GEM in full satisfaction of this provision. Pursuant to GEM’s associated registration rights, the Company filed a re-sale registration statement, covering the 1,300,000 shares, on August 2, 2023, which was declared effective by the SEC on September 28, 2023. The Company has accounted for the shares issuance contracts under the SPA, as amended, as derivative financial instruments which are recorded at fair value within Other long-term liabilities on the Condensed Consolidated Balance Sheets. As of June 30, 2024 and December 31, 2023, the fair value of the GEM commitment was $ 14.1 million and $ 11.3 million, respectively. Changes in fair value were recorded in Changes in fair value of financial instruments carried at fair value, net, on the Condensed Consolidated Statements of Operations. GEM Purchase On June 15, 2023, and amended on July 21, 2023, and July 24, 2023, the Company and GEM entered into the SPA whereby GEM would purchase 1,000,000 shares of the Company’s common stock for cash consideration of $ 25.0 million upon the successful public listing of the Company’s shares. Under the terms of the agreement, the Company is obligated to file a re-sale registration statement, covering the 1,000,000 shares issued, within five business days of the Company’s public listing. On July 27, 2023, concurrent with the Company’s direct listing, the Company received the $ 25.0 million cash consideration contemplated in the SPA, in exchange for the issuance of 1,000,000 shares of the Company’s common stock. Pursuant to the associated registration rights, the Company filed a re-sale registration statement, covering the 1,000,000 shares, on August 2, 2023, which was declared effective by the SEC on September 28, 2023. GEM Mandatory Convertible Security On March 1, 2024, Company entered into a mandatory convertible security purchase agreement (the “MCSPA”) with GEM. Pursuant to the MCSPA, the Company has agreed to issue and sell to GEM, and GEM has agreed to purchase from the Company, a mandatory convertible security with a par amount of up to $ 35,200,000 (the “Mandatory Convertible Security”), which shall be convertible into a maximum of 8,000,000 shares of the Company’s common stock, par value $ 0.0001 per share (the “Common Shares”), subject to adjustment as described in the MCSPA. The transaction contemplated by the MCSPA closed on August 7, 2024 (the “Closing Date”). The par amount of the Mandatory Convertible Security will be determined at the close of the trading day immediately prior to the Closing Date and will be equal to $ 35,200,000 less the product of (a) the number of Common Shares sold by GEM prior to the Closing Date, if any, and (b) the aggregate sale price per share for any such Common Shares; provided, however, that the sale price of any such Common Share that exceeds $ 4.45 will be deemed to be $ 4.45 . The Mandatory Convertible Security will mature on the fifth anniversary of the Closing Date (the “Maturity Date”), unless earlier converted or redeemed. On the Maturity Date, the Company will pay to GEM, at the Company’s option, cash or Common Shares in an amount equal to the then outstanding par amount of the Mandatory Convertible Security divided by the lesser of (a) $ 4.45 (the “Fixed Conversion Price”) and (b) the average of the five lowest volume-weighted average prices per share for the Common Shares trading on the NYSE during the 30 trading days immediately preceding the Maturity Date (the “Floating Conversion Price”). Prior to the Maturity Date, GEM will have the option to convert any portion of the Mandatory Convertible Security into Common Shares at a conversion rate equal to the portion of the par amount to be converted into Common Shares divided by the lesser of (a) the Fixed Conversion Price and (b) the Floating Conversion Price. If, following the conversion by GEM of any portion of the Mandatory Convertible Security into 8,000,000 Common Shares at any time prior to the Maturity Date, any par amount of the Mandatory Convertible Security remains outstanding, the Company will have the option to (x) increase the maximum number of Common Shares into which the Security may convert, with such increase to be at the Company’s sole discretion, (y) pay to GEM an amount in cash equal to 115 % of the remaining outstanding par amount or (z) increase the remaining outstanding par amount by 15 % of the amount outstanding immediately after issuance of the 8,000,000 Common Shares. GEM may not convert any portion of the Mandatory Convertible Security into Common Shares to the extent that GEM (together with its affiliates and any other parties whose holdings would be aggregated with those of GEM for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended) would beneficially own more than 4.99 % of the Common Shares outstanding after such conversion; provided, however, that GEM may increase or decrease such maximum limitation percentage to not more than 9.99 % upon 61 days’ notice to the Company. The Company may, at its option, redeem the Mandatory Convertible Security, in whole or in part, in cash at a price equal to 115 % of the outstanding par amount to be redeemed. Pursuant to the terms of the MCSPA, GEM has agreed that, beginning March 1, 2024 and for so long as any Common Shares are beneficially owned by GEM (together with its affiliates and any entity managed by GEM, the “GEM Entities”), the GEM Entities will limit the daily volume of sales of Common Shares then beneficially owned by the GEM Entities to no more than 1/10th of the daily trading volume of Common Shares on the NYSE on the trading day immediately preceding the applicable date of such sales. The MCSPA also contains customary representations, warranties and agreements by the Company and GEM, customary conditions to closing, indemnification obligations, registration rights and termination provisions. As consideration for GEM’s purchase of the Mandatory Convertible Security, GEM will deliver to the Company 6,300,000 Common Shares previously purchased by GEM less any Common Shares sold by GEM between March 1, 2024 and the Closing Date. In addition, the Company’s ability to take both regular drawdowns of up to $ 300 million and advance drawdowns of up to $ 100 million pursuant to the Company’s Share Purchase Agreement with GEM and GEM Yield Bahamas Limited, provides the Company with the option from time to time to direct GEM to purchase a specified number of Common Shares for an aggregate purchase price of up to $ 400 million, will be restored to full capacity, subject to any drawdowns prior to the Closing Date. The issuance and sale of the Mandatory Convertible Security will be exempt from the registration requirements of the Securities Act of 1933, as amended, in accordance with Section 4(a)(2) thereof. The Company has agreed to file a registration statement with the SEC for the resale by GEM of at least 8,000,000 Common Shares less any Common Shares sold by GEM before the Closing Date.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 10. Fair Value Measurements The fair values of the convertible notes, SAFE instruments, preferred stock warrant liabilities, and derivative liability were based on the estimated values of the notes, SAFE instruments, warrants, and derivatives upon conversion including adjustments to the conversion rates, which were probability weighted associated with certain events, such as a sale of the Company or the Company becoming a public company. The estimated fair values of these financial liabilities were determined utilizing the Probability-Weighted Expected Return Method and is considered a Level 3 fair value measurement. Assets and liabilities are classified in the hierarchy based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The following tables summarize the Company’s financial liabilities that are measured at fair value on a recurring basis in the condensed consolidated financial statements (in thousands) : Fair Value Measurements at June 30, 2024 Using: Level 1 Level 2 Level 3 Total Liabilities: Convertible notes at fair value $ — $ — $ 8,014 $ 8,014 SAFE notes at fair value — — 6 6 GEM derivative liability — — 14,111 14,111 Total financial liabilities $ — $ — $ 22,131 $ 22,131 Fair Value Measurements at December 31, 2023 Using: Level 1 Level 2 Level 3 Total Liabilities: Convertible notes at fair value $ — $ — $ 7,715 $ 7,715 SAFE notes at fair value — — 25 25 GEM derivative liability — — 11,333 11,333 Total financial liabilities $ — $ — $ 19,073 $ 19,073 The following table provides a reconciliation of activity and changes in fair value for the Company’s convertible loans and redeemable convertible preferred stock warrant liability using inputs classified as Level 3 (in thousands) : Convertible Notes at Fair Value SAFE Notes GEM Derivative Liability Balance at December 31, 2023 $ 7,715 $ 25 $ 11,333 Advances received on share purchase agreement — — 2,500 Borrowings on convertible notes 34 — — Change in fair value 265 ( 19 ) 278 Balance at June 30, 2024 $ 8,014 $ 6 $ 14,111 Long-Term Debt The carrying amounts and fair values of the Company’s long-term debt obligations were as follows: As of June 30, 2024 As of December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current maturities $ 23,268 $ 22,843 $ 25,794 $ 26,036 Term notes payable to related parties $ 38,118 $ 37,983 $ 18,610 $ 18,541 In assessing the fair value of the Company’s long-term debt, including current maturities, the Company primarily uses an estimation of discounted future cash flows of the debt at rates currently applicable to the Company for similar debt instruments of comparable maturities and comparable collateral requirements.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2024
Warrants and Rights Note Disclosure [Abstract]
Warrants	Note 11. Warrants Preferred Share Warrants Convertible Preferred Share Warrant Liability There were no convertible preferred share warrants issued in the six months ended June 30, 2024. The convertible preferred share warrants issued and outstanding as of June 30, 2023 were 805,823 shares of Class B-2 preferred warrants; 410,123 shares of Class B-3 preferred warrants; and 1,493,015 shares of Class B-4 preferred warrants. On July 21, 2023, as a condition of the Internal Reorganization, all preferred share warrants were converted into 120,935 warrants for the purchase of the Company’s common stock at a ratio of 22.4 Surf Air preferred warrants to 1 warrant for the purchase of the Company’s common stock. The exercise price for all warrants is $ 38.23 per share. Warrants to purchase shares of convertible preferred stock were classified as Other long-term liabilities on the Condensed Consolidated Balance Sheets, as of June 30, 2023 , and were subject to remeasurement to fair value at each balance sheet date with changes in fair value recorded in Changes in fair value of financial instruments carried at fair value through the date of the Internal Reorganization. As all converted warrants are for the purchase of common stock, and not preferred interests, the liability as of the date of the Internal Reorganization was reclassified to additional paid-in capital.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies Software License Agreements On May 18, 2021, the Company executed two agreements with Palantir Technologies Inc. (“Palantir”) to license a suite of software for the term of seven years commencing on the effective date. The agreements identify two phases where Palantir provides services to customize the software: an Initial Term from May 18, 2021 through June 30, 2023 with a cost of $ 11.0 million and an Enterprise Term from July 1, 2023 to May 7, 2028 with a cost of $ 39.0 million, for a total cost of $ 50.0 million. As of June 30, 2024 and December 31, 2023, the Company capitalized $ 2.8 million and $ 2.5 million , respectively, related to the software that Palantir has provided to the Company. During the six months ended June 30, 2024 , the Company settled $ 6.0 million in outstanding payables to Palantir through the issuance of 8,908,800 shares of the Company's common stock. As of June 30, 2024, the Company had $ 31.0 million in remaining commitments under this agreement. Licensing, Exclusivity and Aircraft Purchase Arrangements Textron Agreement On September 15, 2022, the Company entered into agreements with Textron Aviation Inc. and one of its affiliates (collectively, “TAI”), for engineering services and licensing, sales and marketing, and aircraft purchases, which became effective as of the Company’s direct listing on July 27, 2023 (“TAI Effective Date”). The engineering services and licensing agreement provides, among other things, that TAI will provide the Company with certain services in furtherance of development of an electrified powertrain technology (the “SAM System”). The engineering agreement requires payment by the Company as such services are provided by TAI. Under this agreement, the Company agrees to meet certain development milestones by specified dates, including issuance of a supplemental type certificate by the Federal Aviation Administration (“FAA”). Should the Company fail to meet certain development milestones, TAI has the right to terminate the collaboration agreement. The licensing agreement grants the Company a nonexclusive license to certain technical information and intellectual property for the purpose of developing an electrified propulsion system for the Cessna Caravan aircraft, and to assist in obtaining Supplemental Type Certificates (“STC”) from the FAA, including any foreign validation by any other aviation authority, for electrified propulsion upfits/retrofits of the Cessna Caravan aircraft. The licensing agreement provides for payment by the Company of license fees aggregating $ 60.0 million over a multi-year period, with an initial $ 12.5 million in deposits being made as of December 31, 2023 and remaining payments under the initial license fee of $ 12.5 million coming due in 2024. The remaining $ 35 million of payments under the contract will be due, via annual payments, following the Company’s receipt of the STC. The $ 12.5 million of deposits made as of June 30, 2024 were recorded to technology and development expenses within the Company’s consolidated statements of operations during the fourth quarter of 2023. Under the sales and marketing agreement, the parties agreed to develop marketing, promotional and sales strategies for the specifically configured Cessna Grand Caravans and further agreed to: (a) include Cessna Grand Caravans fitted with the SAM System (the “SAM Aircraft”) in sales and marketing materials (print and digital) distributed to authorized dealers, (b) prominently display the SAM Aircraft on their respective websites and social media, (c) include representatives of the Company and TAI at trade show booths, (d) market the SAM Aircraft and conversions to SAM Aircraft to all owners of pre-owned Cessna Grand Caravans, and (e) not advertise or offer any third-party-developed electrified variants of the Cessna Grand Caravan. Certain technologies for aircraft propulsion are specifically carved out from TAI’s agreement to exclusively promote the SAM System for Cessna Grand Caravans. The sales and marketing agreement provides for payment by the Company of exclusivity fees aggregating $ 40.0 million, with certain amounts deferred such that the aggregate fee is payable over four years commencing on the earlier of the year after the Company obtains an STC for the SAM System on the Cessna Grand Caravan or the 5 th anniversary of the TAI Effective Date. The Company’s obligation to pay exclusivity fees in any year may be offset, in whole or in part, based on the achievement of certain sales milestones of SAM Aircraft and Cessna Grand Caravans subsequently converted to a SAM System. Under the aircraft purchase agreement, the Company may purchase from TAI 90 specifically configured Cessna Caravans at prevailing market rates whereby the aggregate purchase price could be approximately $ 297.0 million, with an option to purchase an additional 26 specifically configured Cessna Caravans having an aggregate purchase price in excess of $ 85.8 million, over the course of 7 years. The final price to be paid by the Company will be dependent upon a number of factors, including the final specifications of such aircraft and any price escalations. During the fourth quarter of 2023 the Company and TAI agreed to apply a previous deposit under the aircraft purchase agreement to amounts due under the engineering and services agreement. As of June 30, 2024 , the Company has made deposits of $ 5 million under this agreement, with the Company being required to make an additional deposit of $ 5 million during the third quarter of 2024. Jetstream Agreement On October 10, 2022, the Company and Jetstream Aviation Capital, LLC (“Jetstream”) entered into an agreement (the “Jetstream Agreement”) that provides for a sale and/or assignment of purchase rights of aircraft from the Company to Jetstream and the leaseback of such aircraft from Jetstream to the Company within a maximum aggregate purchase amount of $ 450.0 million, including a $ 120.0 million total minimum usage obligation by the Company. The agreement may be terminated: (i) upon a termination notice by either party in the event that a material adverse change in the business of the other party is not resolved within 30 days of such notice; and (ii) as mutually agreed in writing by the parties. No transactions have been executed under this agreement as of June 30, 2024. Guarantees The Company indemnifies its officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. The term of the indemnification period is for the officer or director’s lifetime. The maximum potential future amount the Company could be required to pay under these indemnification agreements is unlimited. The Company believes its insurance would cover any liability that may arise from the acts of its officers and directors and as of June 30, 2024 the Company is not aware of any pending claims or liabilities. The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, typically with business partners, contractors, customers, landlords and investors. Under these provisions, the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of its activities or, in some cases, as a result of the indemnified party’s activities under the agreement. These indemnification provisions sometimes include indemnifications relating to representations the Company has made with regards to intellectual property rights. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential future amount the Company could be required to pay under these indemnification provisions is unlimited. Legal Contingencies In 2017, the Company acquired Rise U.S. Holdings, LLC (“Rise”). Prior to the close of the acquisition, Rise Alpha, LLC and Rise Management, LLC (both of which are wholly-owned subsidiaries of Rise and hereinafter referred to as the “Rise Parties”), were served with a petition for judgment by Menagerie Enterprises, Inc. (“Monarch Air”), relating to breach of contract for failure to pay Monarch Air pursuant to the terms and conditions of a flight services agreement with Monarch Air, which occurred prior to the Company’s acquisition of Rise. The Rise Parties filed numerous counterclaims against Monarch Air, including fraud, breach of contract and breach of fiduciary duty. Rise, a subsidiary of the Company, was named as a party in the lawsuit. During 2018 and 2019, certain summary judgments were granted in favor of Monarch Air. On November 8, 2021, the Rise Parties entered into a final judgment in respect of litigation to finally resolve all claims raised by Monarch Air and the Rise Parties agreed to pay actual damages of $ 1.0 million, pre-judgment interest of $ 0.2 million, attorneys’ fees of $ 60 thousand and court costs of approximately $ 3 thousand. Since then, Monarch Air has been conducting post-judgment discovery. The full settlement had been accrued within Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets by the Company as of June 30, 2024 and December 31, 2023. The Company is also a party to various other claims and matters of litigation incidental to the normal course of its business, none of which were considered to have a potential material impact as of June 30, 2024. FAA Matters Our operations are highly regulated by several U.S. government agencies, including the U.S. DOT, the FAA and the Transportation Security Administration. Requirements imposed by these regulators (and others) may restrict the ways we may conduct our business, as well as the operations of our third-party aircraft operator customers. Failure to comply with such requirements may result in fines and other enforcement actions by the regulators. On February 23, 2024, the FAA notified the Company that it was seeking a proposed civil penalty of $ 0.3 million against the Company for alleged non-compliance with respect to certain regulatory requirements relating to flight officer certifications and required competence checks for flights flown during the fourth quarter of 2022. The Company has filed an appeal to the imposed penalty and, as part of the appeal, has provided a counter-offer to the FAA of $ 32 thousand as full resolution to the matter. The Company is currently awaiting a response to this counter-offer. As of June 30, 2024 , the Company has recorded $ 0.3 million as an accrued expense on the Condensed Consolidated Balance Sheet. On October 17, 2023, the Company received a letter of intent from the FAA regarding an investigation into the Company’s Hawaii operations, whereby the Company is alleged to have operated flights beyond their required maintenance intervals during the fourth quarter of 2023. Each violation was subject to a civil penalty not to exceed $ 14,950 per flight. During May 2024, the Company reached a settlement in the amount of $ 16 thousand in full resolution of this matter. Tax Commitment On May 15, 2018, the Company received notice of a tax lien filing from the IRS for unpaid federal excise taxes for the quarterly periods beginning October 2016 through September 2017 in the amount of $ 1.9 million, including penalties and interest as of the date of the notice. The Company agreed to a payment plan (“Installment Plan”) whereby the IRS would take no further action and remove such liens at the time such amounts have been paid. In 2019, the Company defaulted on the Installment Plan. Defaulting on the Installment Plan can result in the IRS nullifying such plan, placing the Company in default and taking collection action against the Company for any unpaid balance. The Company’s total outstanding federal excise tax liability, including accrued penalties and interest, is recorded in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets and is in the amount of $ 7.9 million and $ 7.6 million as of June 30, 2024 and December 31, 2023, respectively. During June 2024, the Company submitted a formal offer-in-compromise (“OIC”) to the IRS, seeking to resolve all consolidated excise tax liabilities. Under the terms of the OIC, all collection actions against the Company, in relation to these matters, will be abated and the Company will be making $ 34 thousand monthly payments on historical excise tax liabilities while the IRS is considering the OIC. During 2018, the Company defaulted on its property tax obligations in various California counties in relation to fixed assets, plane usage and aircraft leases. The Company’s total outstanding property tax liability including penalties and interest is $ 1.7 million and $1 .9 million as of June 30, 2024 and December 31, 2023 , respectively.

Disaggregated Revenue

Disaggregated Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregated Revenue	Note 13. Disaggregated Revenue The disaggregated revenue for the three and six months ended June 30, 2024 and 2023 were as follows (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Scheduled $ 24,242 $ 1,048 $ 47,223 $ 1,880 On-Demand 8,124 5,147 15,767 9,822 Total revenue $ 32,366 $ 6,195 $ 62,990 $ 11,702 The long-term performance obligations for contractually committed revenues, all of which is related to charter revenue, is recorded in Other long-term liabilities as of June 30, 2024, and December 31, 2023 in the amount of $ 3.1 million and $ 2.7 million, respectively. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Deferred revenue, beginning of period $ 21,230 $ 9,953 $ 21,726 $ 9,568 Revenue deferred 17,972 6,772 35,211 12,664 Revenue recognized ( 19,026 ) ( 6,195 ) ( 36,761 ) ( 11,702 ) Deferred revenue, end of period $ 20,176 $ 10,530 $ 20,176 $ 10,530 The Company records deferred revenue (contract liabilities) when the Company receives customer payments in advance of the performance obligations being satisfied on the Company’s contracts. The Company generally collects payments from customers in advance of services being provided. The Company recognizes deferred revenue as revenue when it meets the applicable revenue recognition criteria, which is usually either over the contract term, or when services have been provided. Accordingly, deferred revenue is classified within Current liabilities in the accompanying Condensed Consolidated Balance Sheets. For the six months ended June 30, 2024, $ 10.6 million of revenue was recognized in passenger revenue that was included in the Company’s deferred revenue liability at December 31, 2023.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 14. Stock-Based Compensation Management Incentive Bonus Plan In conjunction with the Southern Acquisition, the Company adopted the Southern Management Incentive Bonus Plan (the “Incentive Bonus Plan”). The Incentive Bonus Plan provides select employees, consultants and service providers of the Company who were direct or indirect shareholders of Southern an incentive to contribute fully to the Company’s business achievement goals and success. The Incentive Bonus Plan provides for two tranches of bonus pools to be allocated, based on participation units, which vest, contingent upon each employee’s continued employment by the Company and the achievement of certain revenue targets. Payments of awards which might become due under the Incentive Bonus Plan, may be made in cash or common stock, at the Company’s option. Any shares of common stock issued in payment of amounts due under the Incentive Bonus Plan will be charged against the share limit of the Company’s 2023 Equity Incentive Plan (the “2023 Plan”). In addition, any shares which might be issued under the Incentive Bonus Plan are excluded from the Company’s common stock issued and outstanding until the satisfaction of these vesting conditions and are not considered a participating security for purposes of calculating net loss per share attributable to common stockholders. The Company has recorded $ 14.3 million of stock based compensation expense related to the Incentive Bonus Plan during the six months ended June 30, 2024. As of June 30, 2024 , a total of $ 31.0 million has been accrued under the Incentive Bonus Plan. Such amounts are included as a portion of Accrued expenses and other current liabilities within the Company’s Consolidated Balance Sheet. Stock Options Prior to the Company’s direct listing, the Company granted stock options to its employees, as well as nonemployees (including directors and others who provide substantial services to the Company) under the Company’s 2016 Equity Incentive Plan, and subsequent to its direct listing, may grant similar awards under the 2023 Plan. During the six months ended June 30, 2024 , the Company granted 10,891,962 stock options for purchase of the Company’s common stock to employees, of which 25 % vested on the grant date and 25 % will vest upon each anniversary over the ensuing three-year period. A summary of stock option activity for the six months ended June 30, 2024 is set forth below: Number of Stock Options Outstanding Weighted Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Weighted Outstanding at December 31, 2023 1,606,159 8.00 $ 687 $ 4.12 Granted 10,891,962 9.91 42 0.81 Exercised ( 1,946 ) — — — Canceled ( 5,802 ) — — 5.31 Outstanding at June 30, 2024 12,490,373 9.56 58 1.09 Exercisable at June 30, 2024 3,603,770 8.87 21 1.43 As of June 30, 2024 , unrecognized compensation expense related to the unvested portion of the Company’s share options was approximately $ 3.4 million with a weighted-average remaining vesting period of approximately 1.44 years. The assumptions used to estimate the fair value of share options granted during the six months ended June 30, 2024 and 2023 and were as follows: For The Six Months Ended June 30, 2024 2023 Risk-free interest rate 3.97 - 4.25 % 3.55 %- 3.74 % Expected term (in years) 3.5 - 5.8 5.80 Dividend yield — — Expected volatility 56 % - 59 % 61 %- 155 % Warrants During the six months ended June 30, 2024 , the Company issued 14,011,616 warrants for purchase of the Company’s common stock to non-employee consultants, of which most awards will vest 25 % on the grant date and 25 % upon each anniversary over the ensuing three-year period. Certain awards will vest only upon the achievement of certain market-based metrics. A summary of warrant activity for the six months ended June 30, 2024 is set forth below: Number of Warrants Outstanding Weighted Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Weighted Outstanding at December 31, 2023 — — $ — $ — Granted 14,011,616 9.99 — 0.88 Exercised — — — — Canceled — — — — Outstanding at June 30, 2024 14,011,616 9.99 — 0.88 Exercisable at June 30, 2024 262,500 9.99 — 0.88 As of June 30, 2024 , unrecognized compensation expense related to the unvested portion of the Company’s common stock warrants was approximately $ 1.5 million which is expected to be recognized over the weighted-average remaining vesting period of approximately 2.75 years. The assumptions used to estimate the fair value of warrants granted during the six months ended June 30, 2024 and 2023 and were as follows: For The Six Months Ended June 30, 2024 2023 Risk-free interest rate 4.23 % - 4.25 % — Expected term (in years) 5.8 - 10.0 — Dividend yield — — Expected volatility 47 % - 56 % — Restricted Stock Units During the six months ended June 30, 2024 , the Company issued 1,224,118 RSUs under the 2023 Plan to employees and non-employee consultants, which vest upon the satisfaction of certain service periods. The fair value of these RSUs was determined based on the Company’s stock price the business day immediately preceding the grant date. The service period of these RSUs is satisfied over a range of grant date vesting to 2 years. A summary of RSU activity for the six months ended June 30, 2024 is set forth below: Number of RSUs Weighted Unvested RSUs at December 31, 2023 773,063 $ 2.94 Granted 1,224,118 1.03 Vested/shares issued ( 426,888 ) 1.95 Forfeited, cancelled, or expired — — Unvested RSUs at June 30, 2024 1,570,293 $ 1.91 Restricted Share Purchase Agreement A summary of RSPA activity for the six months ended June 30, 2024 is set forth below: Number of RSPAs Weighted Unvested RSPAs at December 31, 2023 422,641 $ 4.15 Granted — — Vested ( 84,191 ) 4.13 Forfeited — — Unvested RSPAs at June 30, 2024 338,450 4.16 Some RSPAs were issued for cash while others were issued for promissory notes. The executed promissory note creates an option for the RSPA holder, since they will repay the loan when the fair value of the common stock is greater than the amount of the note. The promissory note contains prepayment features and therefore can be repaid at any time. The maturity date of the RSPA’s is five years from the grant date. The grant date fair value is based on the terms of the promissory note, since the promissory notes creates the option value. The related expense is recorded over the service vesting terms of the RSPA. As of June 30, 2024 , the unrecognized compensation expense related to the unvested portion of the Company’s RSPAs was $ 1.4 million, which is expected to be recognized over a weighted average period of 2.0 years. Performance-Based Restricted Stock Units A summary of performance-based restricted stock units (“PRSU”) activity for the six months ended June 30, 2024 is set forth below: Number of PRSUs Weighted PRSUs at December 31, 2023 3,000,000 $ 2.11 Granted — — Shares issued — — Forfeited, cancelled, or expired — — PRSUs at June 30, 2024 3,000,000 $ 2.11 The following table represents the various price targets of the Company’s common stock included in the PRSU awards and the number of PRSUs that will vest upon achievement of such price targets: Company Price Target Number of PRSUs Eligible to Vest $ 5.00 50,000 10.00 2,875,000 15.00 75,000 A summary of stock-based compensation expense recognized for the three and six months ended June 30, 2024 and 2023 is as follows (in thousands) : Three months ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock Options $ 1,293 $ 624 $ 2,248 $ 1,586 RSUs 680 — 1,422 — RSPAs 171 174 349 357 PRSUs 766 — 1,534 — Warrants 147 — 147 — Management Incentive Bonus Plan 4,296 — 14,295 — Other $ — $ 855 $ — $ 855 Total Stock Based Compensation $ 7,353 $ 1,653 $ 19,995 $ 2,798

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 15. Income Taxes The Company’s provision for income taxes for the three months ended June 30, 2024 and 2023, was a benefit of $ 35 thousand and $ 0 , respectively. The Company’s provision for income taxes for the six months ended June 30, 2024 and 2023, was a benefit of $ 81 thousand and $ 0 , respectively. The Company’s effective tax rate for all periods was lower than the federal statutory rate of 21 %, primarily due to the Company’s full U.S. federal and state valuation allowance. The Company is subject to income tax examinations by the U.S. federal and state tax authorities. There were no ongoing income tax examinations as of June 30, 2024. In general, tax years 2011 and forward remain open to audit for U.S. federal and state income tax purposes.

Related Party Balances and Tran

Related Party Balances and Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Balances and Transactions	Note 16. Related Party Balances and Transactions Convertible Notes at Fair Value On July 21, 2023, in connection with the Internal Reorganization, the 2017 Note was converted per the conditional conversion agreement dated June 27, 2023. The outstanding principal and interest converted into 28,332,454 convertible preferred shares, which were simultaneously cancelled and converted into 1,264,834 shares of the Company's common stock. SAFE Notes at Fair Value On July 21, 2023, in connection with the Internal Reorganization, the SAFE notes issued to LamVen and Park Lane, entities affiliated with a co-founder of the Company, with aggregate principal amount of $ 15.0 million were converted per the conditional conversion agreement dated June 27, 2023 into 103,385,325 convertible preferred shares, which were simultaneously cancelled and converted into 4,615,384 shares of the Company's common stock. (see Note 8, Financing Arrangements ). On June 15, 2023, the Company issued a SAFE note to LamJam, an entity affiliated with a co-founder of the company, with aggregate principal amount of $ 6.9 million. On July 21, 2023, in connection with the Internal Reorganization, the SAFE was converted per the conditional conversion agreement dated June 27, 2023 into 47,770,712 convertible preferred shares, which were simultaneously cancelled and converted into 2,132,608 shares of the Company's common stock. (see Note 8, Financing Arrangements ). Term Notes The Company entered into term note agreements with LamVen, a related party, and recorded the notes in Due to related parties at carrying value on the Condensed Consolidated Balance Sheets. As of June 30, 2024 and December 31, 2023, the term notes outstanding are as follows ( in thousands ): June 30, 2024 December 31, 2023 Term notes with LamVen, a related party $ 38,118 $ 18,610 Total $ 38,118 $ 18,610 The LamVen notes with aggregate principal amounts of $ 4.5 million and $ 1.0 million, an effective date of November 30, 2022 and January 18, 2023, respectively, and bearing an interest rate of 8.25 % per annum, remained outstanding as of March 31, 2023. Both term notes were exchanged for cash and scheduled to mature on the earlier of December 31, 2023 or the date on which the note is otherwise accelerated as provided for in the agreement. Interest for the notes are payable in full at maturity or upon acceleration by prepayment. On December 29, 2023, the term notes were amended to extend the maturity date to January 15, 2024 . On January 26, 2024, the term notes were amended to extend the maturity date to February 9, 2024 , with an effective date of January 15, 2024. On April 28, 2024, the term notes were further amended to extend the maturity date to May 15, 2024 , with an effective date of April 15, 2024. On July 31, 2024, the term notes were further amended to extend the maturity date to August 20, 2024 , with an effective date of May 15, 2024. (see Note 19, Subsequent Events ). On May 22, 2023, the Company entered into an additional term note agreement in exchange for $ 4.6 million in cash from LamVen a related party of the Company. The note is scheduled to mature on the earlier of December 31, 2023 or the date on which the note is otherwise accelerated as provided for in the agreement. Interest is due upon maturity at a rate of 10.0 % per annum until the note is paid in full at maturity or upon acceleration by prepayment. On December 29, 2023, the term notes were amended to extend the maturity date to January 15, 2024 . On January 26, 2024, the term notes were amended to extend the maturity date to February 9, 2024 , with an effective date of January 15, 2024. On July 31, 2024, the term notes were further amended to extend the maturity date to August 20, 2024 , with an effective date of May 15, 2024. (see Note 19, Subsequent Events ). On June 15, 2023, the Company entered into a $ 5.0 million note agreement with LamVen, a related party of the Company. The note is scheduled to mature on the earlier of December 31, 2023 or the date on which the note is otherwise accelerated as provided for in the agreement. Interest is due upon maturity at a rate of 10.0 % per annum until the note is paid in full at maturity or upon acceleration by prepayment. On December 29, 2023, the note was amended to extend the maturity date to January 15, 2024 and to increase the principal amount of the note to $ 10.0 million. The Company received $ 8.5 million in cash as of December 31, 2023, with the remaining $ 1.5 million under the note received in 2024. On January 26, 2024, the note was further amended to extend the maturity date to February 9, 2024 and the principal amount increased to $ 15.0 million, effective as of January 15, 2024. On April 28, 2024, the note was further amended to extend the maturity date to May 15, 2024 and the principal amount increased to $ 25.0 million, effective as of April 15, 2024. The Company received $ 28.0 million as of June 30, 2024. Subsequent to June 30, 2024, the Company received an additional $ 5.3 million under this note agreement, for an aggregate total of $ 33.4 million cash received under the note since inception. On July 31, 2024, the note was further amended to extend the maturity date to August 20, 2024 , and the principal amount increased to $ 36.1 million with an effective date of May 15, 2024. (see Note 19, Subsequent Events ). On June 15, 2023, the LamVen term note dated April 1, 2023 for $ 3.5 million, including principal and interest, was converted, via a payoff letter, into the LamJam SAFE note (see Note 8, Financing Arrangements ). On June 15, 2023, the term notes with LamJam, an entity affiliated with a co-founder of the Company, in the amount of $ 5.3 million principal and interest were converted into 9,932,241 Class B-6s convertible preferred shares . The outstanding notes at carrying values and accrued interests are recorded within Due to related parties on the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. Other Transactions As of June 30, 2024 , the Company continues to lease four aircraft from Park Lane, a related party, for a monthly lease payment of $ 25 thousand per aircraft. The Company recorded $ 600 thousand in lease expense during the six months ended June 30, 2024 . On February 1, 2024, the lease term for the four aircraft was extended to a 12- month term starting February 1, 2024 and expiring January 31, 2025 . All other terms of the agreements remain the same. JA Flight Services and BAJ Flight Services As of June 30, 2024 , the Company leased a total of three aircraft from JA Flight Services (“JAFS”) and one aircraft from BAJ Flight Services (“BAJFS”) under short-term operating leases. JAFS is 50 % owned by Bruce A. Jacobs (“BAJ”), an employee and shareholder of the Company, and BAJFS is 100 % owned by BAJ. The Company recorded approximately $ 267 thousand and $ 675 thousand in combined lease and engine reserve expense attributable to JAFS and BAJFS during the three and six months ended June 30, 2024 , respectively. Accounts payable of $ 520 thousand owed to JAFS and BAJFS as of June 30, 2024, is included in Due to Related Parties, current on the Condensed Consolidated Balance Sheet. Schuman Aviation As of June 30, 2024 , the Company leased six aircraft from Schuman Aviation Ltd. (“Schuman”), an entity which is owned by an employee and shareholder of the Company. All leases consist of 60 -month terms, fixed monthly lease payments and are all eligible for extension at the end of the lease term. All the leases are also subject to monthly engine, propeller and other reserve payment requirements, based on actual flight activity incurred on the subject aircraft engine. The Company recorded approximately $ 421 thousand and $ 807 thousand in combined lease and engine reserve expense attributable to Schuman for the three and six months ended June 30, 2024, respectively. As of June 30, 2024 , the Company owed approximately $ 466 thousand to Schuman, which is included in Due to Related Parties, current on the Condensed Consolidated Balance Sheet. Additionally, the Company has an existing agreement with Schuman, whereby Schuman agreed not to fly any of its Makani Kai airline routes servicing the Hawaiian Island commuter airspace for a period of 10 years. Remaining amounts due under this agreement represent the final two annual installment payments, of $ 100 thousand each, which will be paid over the next two years.

Supplemental Cash Flows

Supplemental Cash Flows	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flows	Note 17. Supplemental Cash Flows Supplemental cash flow information for the six months ended June 30, 2024 and 2023 (in thousands): Six Months Ended June 30, 2024 2023 Supplemental cash flow information Cash paid for interest $ 1,747 $ — Supplemental schedule of non-cash investing and financing activities: Common stock issued under software license agreement $ 6,000 $ — Issuance of SAFE notes $ — $ 4,354 Issuance of Class B-6s convertible preferred shares in exchange for outstanding payables $ — $ 258 Issuances of Class B-6a redeemable convertible preferred shares in exchange for outstanding payable $ — $ 4,418 Exercise of ordinary warrants $ — $ 20 Capitalized interest on convertible notes $ 34 $ — Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,160 $ — Right-of-use obtained in exchange for new finance lease liabilities $ 95 $ — Purchases of property and equipment included in accounts payable $ 1,415 $ 17

Net Loss per Share Applicable t

Net Loss per Share Applicable to Common Shareholders, Basic and Diluted	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss per Share Applicable to Common Shareholders, Basic and Diluted	Note 18. Net Loss per Share Applicable to Common Shareholders, Basic and Diluted The Company calculates basic and diluted net loss per share attributable to common shareholders using the two-class method required for companies with participating securities. The Company considers preferred stock to be participating securities as the holders are entitled to receive dividends on a pari passu basis in the event that a dividend is paid on common shares. As outlined in “Internal Reorganization” in Note 1, Description of Business, the effects of conversions at a ratio of 22.4 Surf Air shares to 1 share of the Company’s common stock, have been applied to outstanding common shares and rights to receive common shares for all periods presented in calculating earnings per share and for presentation within the Condensed Consolidated Statement of Changes in Redeemable Convertible Preferred Shares and Shareholders’ Deficit. The following table sets forth the computation of net loss per common share (in thousands, except share data and per share amounts) : Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net loss $ ( 26,983 ) $ ( 44,520 ) $ ( 63,948 ) $ ( 65,093 ) Weighted-average number of common shares used in net loss per share applicable to common shareholders, basic and diluted 81,890,955 14,168,091 79,599,848 14,138,856 Net loss per share applicable to common shareholders, basic and diluted $ ( 0.33 ) $ ( 3.14 ) $ ( 0.80 ) $ ( 4.60 ) The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Excluded securities: Options to purchase common shares 12,490,373 1,743,735 12,490,373 1,743,735 Warrants to purchase common shares 14,011,616 — 14,011,616 — Restricted stock units 4,549,766 220,424 4,549,766 220,424 Unvested RSPAs 338,450 3,072,999 338,450 3,072,999 Convertible notes (as converted to common shares) 1,333,333 1,607,395 1,333,333 1,607,395 Preferred stock (as converted to common shares) — 14,226,483 — 14,226,483 Total common shares equivalents 32,723,538 20,871,036 32,723,538 20,871,036

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 19. Subsequent Events Term Notes Maturity Extension On July 31, 2024, the LamVen term notes originally dated November 30, 2022, January 18, 2023, May 22, 2023, and June 15, 2023 were further amended to extend the maturity date to August 20, 2024 , with an effective date of May 15, 2024. Additionally, the principal amount of the LamVen term note agreement, June 15, 2023, was increased to $ 36.1 million. Share Purchase Agreement In August 2024, the Company settled $ 2.5 million in previous advances under the SPA through the transfer of 8,178,642 shares of the Company’s common stock to GEM. GEM Mandatory Convertible Security On August 7, 2024, the Company completed the closing of the private placement. At the closing, the Company issued a mandatory convertible security with a par amount of $ 35,200,000 (the “Mandatory Convertible Security”). The Mandatory Convertible Security will mature on August 7, 2029 , unless earlier converted or redeemed pursuant to the terms set forth in the Mandatory Convertible Security. As consideration for GEM’s purchase of the Mandatory Convertible Security, GEM delivered to the Company 6,300,000 of the Common Shares that it had purchased from the Company prior to March 1, 2024. In addition, the Company’s ability to take both regular drawdowns of up to $ 300 million and advance drawdowns of up to $ 100 million pursuant to the Company’s share subscription facility with GEM and GEM Yield Bahamas Limited, which provides the Company with the option from time to time to direct GEM to purchase a specified number of Common Shares for an aggregate purchase price of up to $ 400 million, was restored to full capacity. The respective formulas that the Company and GEM used to determine the par amount of the Mandatory Convertible Security and the consideration for GEM’s purchase of the Mandatory Convertible Security are each set forth in the SPA. The Company has filed a registration statement, as amended from time to time, with the SEC for the resale by GEM of up to 325,000,000 Common Shares, including up to 8,000,000 Common Shares issuable pursuant to conversion of the Mandatory Convertible Security, and such registration statement has been declared effective. Collateralized Borrowings On August 9, 2024, the Company entered into a new revolving accounts receivable financing arrangement that will allow the Company to borrow a designated percentage of eligible accounts receivable, as defined, up to a maximum unsettled amount of $ 5 million. The agreement is secured by a first security interest in all assets of Southern Airways Express, a subsidiary of Southern. The related interest rate is the prime rate plus 1 % per annum. Additionally, the Company pays certain ancillary fees associated with each borrowing that vary depending on the borrowed amount and duration, which is generally no more than 45 days. Once effective, as a result of the first accounts receivable financed, the arrangement will have a one-year term, subject to automatic, annual, renewals. Palantir Joint Venture On August 9, 2024, the Company entered into a joint venture agreement (the “JV Agreement”) with Palantir. Pursuant to the JV Agreement, the Company will establish Surf Air Technologies LLC, a subsidiary of the Company (“Surf Air Technologies”), to develop, market, sell, maintain, and support an artificial intelligence-powered software platform for the advanced air mobility industry, which will be powered by Palantir, to provide operators of all types of aircraft, amongst other software products and solutions, with systems for the management of planes, airline operations, and customer facing applications (the “Software Platform”). The JV Agreement provides that the Company will assign certain agreements regarding subscription access to certain of Palantir’s proprietary commercial software platforms (the “Palantir Platforms”) to Surf Air Technologies. The Company has agreed to contribute the software and intellectual property the Company has developed relating to the Software Platform; the data and know-how from its operations on an ongoing basis to support the development, maintenance, support, and operation of the Software Platform; and the employees and contractors directly involved in developing the Software Platform. Palantir has agreed to contribute a service contract to provide implementation engineering services in support of Surf Air Technologies’ use of the Palantir Platforms, which may include its interface to Software Platform. Surf Air Technologies will also be capitalized by outside third-party investors sourced by the Company and Palantir, with an initial target raise of not less than $ 5 million. The closing of the JV Agreement is anticipated to occur no later than September 30, 2024 and is subject to certain customary conditions, including the following: establishment of Surf Air Technologies as a Delaware limited liability company, signing of Surf Air Technologies’ operating agreement, contributions by each party to Surf Air Technologies, the securing and funding of outside capital, receipt of internal approvals by the Company and Palantir, and confirmation of sufficient evidence regarding Surf Air Technologies’ ability to meet ongoing financial obligations. Under the JV Agreement, the Company is entitled to designate four of the five members of the board of directors of Surf Air Technologies and Palantir is entitled to designate one board member. The JV Agreement also provides that the Company will be primarily responsible for oversight of Surf Air Technologies and shall designate the Chair of the board of directors, the legal representative, and the General Manager of Surf Air Technologies. The JV Agreement also provides that the Company and Palantir have certain rights in connection with Surf Air Technologies, including pre-emptive rights if Surf Air Technologies proposes to increase its registered capital, a right of first refusal to purchase equity in Surf Air Technologies that the other party may propose to transfer to a third party, the Company’s right to buy out Palantir’s stake in Surf Air Technologies, Palantir’s right to exchange shares in the Company for equity in Surf Air Technologies, and the right to purchase all of the other party’s equity in the event of bankruptcy of the other party. Stock Split On August 8, 2024, the Company’s board of directors approved an amendment to the Company’s Certificate of Incorporation effecting a one-for-seven reverse split of the Company’s common stock. The terms of the amendment had previously been approved by the holders of 65 % of the issued and outstanding shares of the Company’s common stock. The reverse split will be effective as of 12:01am Eastern Standard Time on Monday, August 19, 2024. As a result of the reverse stock split, every seven shares of the Company’s old common stock will be converted into one share of the Company’s new common stock. Fractional shares resulting from the reverse stock split will be settled by cash payment. Options, and other like kind awards, to purchase the Company’s common stock will be adjusted in accordance with their terms to reflect the reverse stock split.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Interim Financial Information	Interim Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the SEC for interim financial information. Accordingly, the interim financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements and should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2023 and the related notes, as included in the Company’s Form 10-K filed on March 29, 2024. The information herein reflects all material adjustments, including normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results for the period presented. The results for the six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the year ending December 31, 2024 . Except to the extent discussed below, there have been no material changes to the Company’s significant accounting policies during the six months ended June 30, 2024 from those disclos ed in the notes to the Company’s consolidated financial statements for the year ended December 31, 2023 .
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The condensed consolidated financial statements include the assets, liabilities, and operating results of the Company. All intercompany balances and transactions have been eliminated in consolidation.
Business Combination	Business Combination The Company is required to use the acquisition method of accounting for business combinations. The acquisition method of accounting requires the Company to allocate the purchase consideration to the assets acquired and liabilities assumed from the acquiree based on their respective fair values as of the Acquisition Date. The excess of the fair value of purchase consideration over the fair value of these assets acquired and liabilities assumed is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing intangible assets include, but are not limited to, expected future cash flows, which includes consideration of future revenue growth and margins, and discount rates. Fair value estimates are based on the assumptions that management believes a market participant would use in pricing the asset or liability. These estimates are inherently uncertain and, therefore, actual results may differ from the estimates made. As a result, during the measurement period of up to one year from the Acquisition Date, the Company may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of the purchase price of an acquisition, whichever comes first, any subsequent adjustments are recorded in the Consolidated Statements of Operations.
Accounts Receivable, Net	Accounts Receivable, Net Accounts receivable primarily consist of amounts due from the U.S. DOT in relation to certain air routes served by the Company under the EAS program, amounts due from airline and non-airline business partners, and pending transactions with credit card processors. Receivables from the U.S. DOT and our business partners are typically settled within 30 days. All accounts receivable are reported net of an allowance for credit losses, which was not material as of June 30, 2024, and December 31, 2023 . The Company has considered past and future financial and qualitative factors, including aging, payment history and other credit monitoring indicators, when establishing the allowance for credit losses.
Collateralized Borrowings	Collateralized Borrowings The Company has a revolving accounts receivable financing arrangement that currently allows the Company to borrow a designated percentage of eligible accounts receivable due from the U.S. DOT, in relation to certain air routes served by the Company under the EAS program, up to a maximum unsettled amount of $ 3 million. The financing arrangement is uncommitted, and upon funding does not qualify for sale accounting as the Company does not relinquish control of the receivables based on, among other things, the nature and extent of the Company’s continuing involvement. Accordingly, the accounts receivable remain on the Company’s balance sheet until paid by the customer and cash proceeds from the financing arrangement are recorded as collateralized borrowing in Accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets, with attributable interest expense recognized over the life of the related transactions. Interest expense and contractual fees associated with the collateralized borrowings are included in interest expense and other expense, net, respectively, in the accompanying Condensed Consolidated Statements of Operations. During April 2024, the Company received notice from the counterparty to its accounts receivable financing arrangement that such arrangement would be terminated as of May 20, 2024. Additionally, the borrowing capacity under the arrangement was reduced to 80 % of eligible accounts receivable. The Company subsequently executed an option to extend the arrangement beyond May 20, 2024 through the payment of a $ 100 thousand non-refundable, fully earned, and irrevocable extension fee. Following the extension, the borrowing capacity under the arrangement will be reduced by an additional 10 % of eligible accounts receivable on the 20 th of each subsequent month, until the extension formally expires in December 2024.
Restricted Stock Unit Awards	Restricted Stock Unit Awards The grant date fair value of restricted stock units (“RSUs”) is estimated based on the fair value of the Company’s common stock on the date of grant. Prior to the Company’s direct listing in July 2023, RSUs granted by the Company vested upon the satisfaction of both service-based vesting conditions and liquidity event-related performance vesting conditions. The liquidity event-related performance vesting conditions were achieved upon the consummation of the Company's direct listing. Stock-based compensation related to such awards was recorded in full, as of the date of the Company’s direct listing. Since the Company’s direct listing in July 2023, the Company has only granted RSUs that vest upon the satisfaction of a service-based vesting condition and the compensation expense for these RSUs is recognized on a straight-line basis over the requisite service period. The Company has granted founder performance-based restricted stock units (“Founder PRSUs”) that contain a market condition in the form of future stock price targets. The grant date fair value of the Founder PRSUs was determined using a Monte Carlo simulation model and the Company estimates the derived service period of the Founder PRSUs. The grant date fair value of Founder PRSUs containing a market condition is recorded as stock-based compensation over the derived service period. If the stock price goals are met sooner than the derived service period, any unrecognized compensation expenses related to the Founder PRSUs will be expensed during the period in which the stock price targets are achieved. Provided that each founder continues to be employed by the Company, stock-based compensation expense is recognized over the derived service period, regardless of whether the stock price goals are achieved.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of income and expense during the reporting period. On an ongoing basis, the Company evaluates its estimates using historical experience and other factors including the current economic and regulatory environment as well as management’s judgment. Items subject to such estimates and assumptions include: revenue recognition and related allowances, valuation allowance on deferred tax assets, certain accrued liabilities, useful lives and recoverability of long-lived assets, fair value of assets acquired and liabilities assumed in acquisitions, legal contingencies, assumptions underlying convertible notes and convertible securities carried at fair value and stock-based compensation. These estimates may change as new events occur and additional information is obtained and such changes are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting , which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The updated standard is effective for fiscal periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact that the updated standard will have on our consolidated financial statements and financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU 2023-09 is effective for public business entities for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its financial statements.

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following ( in thousands ): June 30, December 31, Prepaid insurance $ 497 $ 2,306 Prepaid software 2,417 2,647 Prepaid marketing 2,381 2,406 Engine reserves 1,972 1,150 Vendor operator prepayments 748 634 Prepaid fuel 259 301 Other 1,654 1,607 Total prepaid expenses and other current assets $ 9,928 $ 11,051

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Summary of Property Plant And Equipment Net	Property and equipment, net, consists of the following ( in thousands ): June 30, December 31, Aircraft, equipment and rotable spares $ 41,137 $ 39,196 Equipment purchase deposits 5,000 5,000 Leasehold improvements 2,255 2,479 Office, vehicles and ground equipment 1,225 1,179 Internal-use software 1,709 508 Property and equipment, gross 51,326 48,362 Accumulated depreciation ( 4,285 ) ( 2,371 ) Property and equipment, net $ 47,041 $ 45,991

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangibles Assets, Net	Intangibles assets, net, consists of the following ( in thousands ): June 30, December 31, EAS contracts $ 25,770 $ 25,770 Tradenames and trademarks 8,340 8,340 Software 3,122 3,122 Other intangibles 242 242 Intangible assets, gross 37,474 37,474 Accumulated amortization ( 12,584 ) ( 10,811 ) Intangible assets, net $ 24,890 $ 26,663
Schedule of Expected Future Amortization	Expected future amortization as of June 30, 2024 is as follows ( in thousands ): Amount Remainder of 2024 $ 1,772 2025 3,051 2026 2,915 2027 2,764 2028 2,577 Thereafter 11,811 Total $ 24,890

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Current Liabilities	ccrued expenses and other current liabilities consisted of the following ( in thousands ): June 30, December 31, Accrued compensation and benefits $ 45,017 $ 26,751 Accrued professional services 10,913 11,473 Excise and franchise taxes payable 7,899 7,672 Collateralized borrowings 2,013 2,977 Software license fee payable 6,250 2,000 Aircraft contract termination payable 128 1,454 Accrued Monarch legal settlement 1,314 1,314 Insurance premium liability — 1,131 Accrued major maintenance 245 980 Interest and commitment fee payable 231 190 Statutory penalties 282 520 Other accrued liabilities 4,605 3,120 Total accrued expenses and other current liabilities $ 78,897 $ 59,582

Financing Arrangements (Tables)

Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary of Total Debt Due to Unrelated Parties	The Company’s total debt due to unrelated parties consist of the following (in thousands) : June 30, December 31, Note payable to a financing company, fixed interest rate of 7.60 %, due November 2024 $ 116 $ 257 Note payable to bank, fixed interest rate of 4.65 %, due November 2025 10 15 Note payable to a financing company, fixed interest rate of 5.49 %, due December 2026 155 184 Notes payable to Clarus Capital, fixed interest rate of 8.66 %, due April , June and September 2027 14,713 16,476 Notes payable to Skywest, fixed interest rates of 4 % and 9 %, due April 2028 and November 2024 , respectively 5,185 5,656 Note payable to Tecnam, fixed interest rate of 6.75 %, due July and August 2032 3,089 3,206 Long-term debt, gross 23,268 25,794 Current maturities of long-term debt ( 4,922 ) ( 5,177 ) Long-term debt, net of current maturities $ 18,346 $ 20,617
Summary of Future Maturities of Total Debt	Future maturities of total debt as of June 30, 2024 are as follows (in thousands) : Amount Remainder of 2024 $ 3,659 2025 2,512 2026 2,710 2027 12,032 2028 685 Thereafter 1,670 Total $ 23,268
Summary of Fair Value of Convertible Notes	Fair value of convertible notes (in thousands) : Fair Value at June 30, 2024 December 31, 2023 Convertible Note Purchase Agreement 8,014 7,715 Total $ 8,014 $ 7,715
Summary of Fair Value of SAFE-T Note	Fair value of SAFE-T note (in thousands) : Fair Value at June 30, 2024 December 31, 2023 SAFE-T 6 25 Total $ 6 $ 25 Less: SAFE notes at fair value, current ( 6 ) ( 25 ) SAFE notes at fair value, long term $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Company's Financial Liabilities Measured at Fair Value on Recurring Basis	The following tables summarize the Company’s financial liabilities that are measured at fair value on a recurring basis in the condensed consolidated financial statements (in thousands) : Fair Value Measurements at June 30, 2024 Using: Level 1 Level 2 Level 3 Total Liabilities: Convertible notes at fair value $ — $ — $ 8,014 $ 8,014 SAFE notes at fair value — — 6 6 GEM derivative liability — — 14,111 14,111 Total financial liabilities $ — $ — $ 22,131 $ 22,131 Fair Value Measurements at December 31, 2023 Using: Level 1 Level 2 Level 3 Total Liabilities: Convertible notes at fair value $ — $ — $ 7,715 $ 7,715 SAFE notes at fair value — — 25 25 GEM derivative liability — — 11,333 11,333 Total financial liabilities $ — $ — $ 19,073 $ 19,073
Schedule of Reconciliation of Activity and Changes in Fair Value for Company's Convertible Loans and Redeemable Convertible Preferred Stock Warrant Liability	The following table provides a reconciliation of activity and changes in fair value for the Company’s convertible loans and redeemable convertible preferred stock warrant liability using inputs classified as Level 3 (in thousands) : Convertible Notes at Fair Value SAFE Notes GEM Derivative Liability Balance at December 31, 2023 $ 7,715 $ 25 $ 11,333 Advances received on share purchase agreement — — 2,500 Borrowings on convertible notes 34 — — Change in fair value 265 ( 19 ) 278 Balance at June 30, 2024 $ 8,014 $ 6 $ 14,111
Summary of Carrying Amounts and Fair Values of Long-term Debt Obligations	The carrying amounts and fair values of the Company’s long-term debt obligations were as follows: As of June 30, 2024 As of December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt, including current maturities $ 23,268 $ 22,843 $ 25,794 $ 26,036 Term notes payable to related parties $ 38,118 $ 37,983 $ 18,610 $ 18,541

Disaggregated Revenue (Tables)

Disaggregated Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Disaggregation of Revenue [Abstract]
Summary of Disaggregated Revenue	The disaggregated revenue for the three and six months ended June 30, 2024 and 2023 were as follows (in thousands) : Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Scheduled $ 24,242 $ 1,048 $ 47,223 $ 1,880 On-Demand 8,124 5,147 15,767 9,822 Total revenue $ 32,366 $ 6,195 $ 62,990 $ 11,702
Summary of Deferred Revenue	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Deferred revenue, beginning of period $ 21,230 $ 9,953 $ 21,726 $ 9,568 Revenue deferred 17,972 6,772 35,211 12,664 Revenue recognized ( 19,026 ) ( 6,195 ) ( 36,761 ) ( 11,702 ) Deferred revenue, end of period $ 20,176 $ 10,530 $ 20,176 $ 10,530

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Stock Option Activity	A summary of stock option activity for the six months ended June 30, 2024 is set forth below: Number of Stock Options Outstanding Weighted Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Weighted Outstanding at December 31, 2023 1,606,159 8.00 $ 687 $ 4.12 Granted 10,891,962 9.91 42 0.81 Exercised ( 1,946 ) — — — Canceled ( 5,802 ) — — 5.31 Outstanding at June 30, 2024 12,490,373 9.56 58 1.09 Exercisable at June 30, 2024 3,603,770 8.87 21 1.43
Summary of Fair Value of Share Options Granted	The assumptions used to estimate the fair value of share options granted during the six months ended June 30, 2024 and 2023 and were as follows: For The Six Months Ended June 30, 2024 2023 Risk-free interest rate 3.97 - 4.25 % 3.55 %- 3.74 % Expected term (in years) 3.5 - 5.8 5.80 Dividend yield — — Expected volatility 56 % - 59 % 61 %- 155 %
Summary of Warrant Activity	A summary of warrant activity for the six months ended June 30, 2024 is set forth below: Number of Warrants Outstanding Weighted Average Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Weighted Outstanding at December 31, 2023 — — $ — $ — Granted 14,011,616 9.99 — 0.88 Exercised — — — — Canceled — — — — Outstanding at June 30, 2024 14,011,616 9.99 — 0.88 Exercisable at June 30, 2024 262,500 9.99 — 0.88
Summary of Fair Value of Warrants Granted	The assumptions used to estimate the fair value of warrants granted during the six months ended June 30, 2024 and 2023 and were as follows: For The Six Months Ended June 30, 2024 2023 Risk-free interest rate 4.23 % - 4.25 % — Expected term (in years) 5.8 - 10.0 — Dividend yield — — Expected volatility 47 % - 56 % —
Summary of RSU Activity	A summary of RSU activity for the six months ended June 30, 2024 is set forth below: Number of RSUs Weighted Unvested RSUs at December 31, 2023 773,063 $ 2.94 Granted 1,224,118 1.03 Vested/shares issued ( 426,888 ) 1.95 Forfeited, cancelled, or expired — — Unvested RSUs at June 30, 2024 1,570,293 $ 1.91
Summary of Restricted Stock Activity	A summary of RSPA activity for the six months ended June 30, 2024 is set forth below: Number of RSPAs Weighted Unvested RSPAs at December 31, 2023 422,641 $ 4.15 Granted — — Vested ( 84,191 ) 4.13 Forfeited — — Unvested RSPAs at June 30, 2024 338,450 4.16
Summary of Price Targets Included in PRSU Awards and Number of PRSUs That Will Vest Upon Achievement of Such Price Targets	The following table represents the various price targets of the Company’s common stock included in the PRSU awards and the number of PRSUs that will vest upon achievement of such price targets: Company Price Target Number of PRSUs Eligible to Vest $ 5.00 50,000 10.00 2,875,000 15.00 75,000
Summary of Stock-based Compensation Expense Recognized	A summary of stock-based compensation expense recognized for the three and six months ended June 30, 2024 and 2023 is as follows (in thousands) : Three months ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock Options $ 1,293 $ 624 $ 2,248 $ 1,586 RSUs 680 — 1,422 — RSPAs 171 174 349 357 PRSUs 766 — 1,534 — Warrants 147 — 147 — Management Incentive Bonus Plan 4,296 — 14,295 — Other $ — $ 855 $ — $ 855 Total Stock Based Compensation $ 7,353 $ 1,653 $ 19,995 $ 2,798
Performance Based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Summary of Restricted Stock Activity	A summary of performance-based restricted stock units (“PRSU”) activity for the six months ended June 30, 2024 is set forth below: Number of PRSUs Weighted PRSUs at December 31, 2023 3,000,000 $ 2.11 Granted — — Shares issued — — Forfeited, cancelled, or expired — — PRSUs at June 30, 2024 3,000,000 $ 2.11

Related Party Balances and Tr_2

Related Party Balances and Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transaction [Line Items]
Schedule of Term Notes Outstanding	The Company’s total debt due to unrelated parties consist of the following (in thousands) : June 30, December 31, Note payable to a financing company, fixed interest rate of 7.60 %, due November 2024 $ 116 $ 257 Note payable to bank, fixed interest rate of 4.65 %, due November 2025 10 15 Note payable to a financing company, fixed interest rate of 5.49 %, due December 2026 155 184 Notes payable to Clarus Capital, fixed interest rate of 8.66 %, due April , June and September 2027 14,713 16,476 Notes payable to Skywest, fixed interest rates of 4 % and 9 %, due April 2028 and November 2024 , respectively 5,185 5,656 Note payable to Tecnam, fixed interest rate of 6.75 %, due July and August 2032 3,089 3,206 Long-term debt, gross 23,268 25,794 Current maturities of long-term debt ( 4,922 ) ( 5,177 ) Long-term debt, net of current maturities $ 18,346 $ 20,617
LamVen
Related Party Transaction [Line Items]
Schedule of Term Notes Outstanding	As of June 30, 2024 and December 31, 2023, the term notes outstanding are as follows ( in thousands ): June 30, 2024 December 31, 2023 Term notes with LamVen, a related party $ 38,118 $ 18,610 Total $ 38,118 $ 18,610

Supplemental Cash Flows (Tables

Supplemental Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow	Supplemental cash flow information for the six months ended June 30, 2024 and 2023 (in thousands): Six Months Ended June 30, 2024 2023 Supplemental cash flow information Cash paid for interest $ 1,747 $ — Supplemental schedule of non-cash investing and financing activities: Common stock issued under software license agreement $ 6,000 $ — Issuance of SAFE notes $ — $ 4,354 Issuance of Class B-6s convertible preferred shares in exchange for outstanding payables $ — $ 258 Issuances of Class B-6a redeemable convertible preferred shares in exchange for outstanding payable $ — $ 4,418 Exercise of ordinary warrants $ — $ 20 Capitalized interest on convertible notes $ 34 $ — Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,160 $ — Right-of-use obtained in exchange for new finance lease liabilities $ 95 $ — Purchases of property and equipment included in accounts payable $ 1,415 $ 17

Net Loss per Share Applicable_2

Net Loss per Share Applicable to Common Shareholders, Basic and Diluted (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Net Loss Per Common Share	The following table sets forth the computation of net loss per common share (in thousands, except share data and per share amounts) : Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net loss $ ( 26,983 ) $ ( 44,520 ) $ ( 63,948 ) $ ( 65,093 ) Weighted-average number of common shares used in net loss per share applicable to common shareholders, basic and diluted 81,890,955 14,168,091 79,599,848 14,138,856 Net loss per share applicable to common shareholders, basic and diluted $ ( 0.33 ) $ ( 3.14 ) $ ( 0.80 ) $ ( 4.60 )
Schedule of Anti-dilutive Potential Common Shares Excluded from Computation of Diluted net Loss Per Share	The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Excluded securities: Options to purchase common shares 12,490,373 1,743,735 12,490,373 1,743,735 Warrants to purchase common shares 14,011,616 — 14,011,616 — Restricted stock units 4,549,766 220,424 4,549,766 220,424 Unvested RSPAs 338,450 3,072,999 338,450 3,072,999 Convertible notes (as converted to common shares) 1,333,333 1,607,395 1,333,333 1,607,395 Preferred stock (as converted to common shares) — 14,226,483 — 14,226,483 Total common shares equivalents 32,723,538 20,871,036 32,723,538 20,871,036

Description of Business - Addit

Description of Business - Additional Information (Details)			1 Months Ended	3 Months Ended	6 Months Ended		12 Months Ended
	Jul. 27, 2023 USD ($) $ / shares shares	Jul. 21, 2023	Jul. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Aircrafts shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Aug. 07, 2024 shares	May 15, 2018 USD ($)
Description of Business [Line Items]
Shares conversion ratio		0.0446
Unpaid federal excise taxes, including penalties and interest									$ 1,900,000
Total outstanding federal excise tax liability including accrued penalties and interest					$ 7,899,000		$ 7,672,000
Total outstanding property tax liability including penalties and interest					1,700,000		900,000
Current liability as potentially triggered by capital contributions					1,000,000
Amount of property tax, interest and penalties related to tax lien					1,200,000
Principal Amount Outstanding On Future Equity with Token allocation Note					500,000		500,000
Past due rental and maintenance payments under aircraft leases					5,000,000		5,000,000
Repayment of past due rental and maintenance at contingent capital contribution					1,000,000
Payments made under payment plan					$ 0
Exchange of common stock, value				$ 202,000		$ 202,000
Second Amended and Restated Share Purchase Agreement with GEM
Description of Business [Line Items]
Advances remain subject to negotiation							10,200,000
Initial Issuance to GEM under Share Purchase Agreement
Description of Business [Line Items]
Common stock issued under software license agreement | shares					1,300,000
Issued to GEM in Satisfaction of Commitment Fee under Share Purchase Agreement
Description of Business [Line Items]
Common stock issued under software license agreement | shares					4,000,000
Share Purchase Agreement with GEM
Description of Business [Line Items]
Cumulative funding through advances and share draws					$ 14,000,000
Share purchase agreement additional advance					$ 296,000,000
Share Purchase Agreement, percentage of purchase commitment					4.50%
Offer-In-Compromise ("OIC")
Description of Business [Line Items]
Payments on historical excise tax liabilities					$ 34,000
Convertible Note Purchase Agreement
Description of Business [Line Items]
Proceeds from convertible notes	$ 8,000,000		$ 8,000,000				8,000,000
GEM Purchase Agreement
Description of Business [Line Items]
Proceeds from convertible notes							2,500,000
Exchange of common stock, value			$ 25,000,000				$ 25,000,000
Value of amount of shares estimates to be sold under Share Purchase Agreement					$ 50,000,000
Daily volume limitations to take draws under share purchase agreement | shares					5,700,000
GEM Purchase Agreement | GEM Global Yield LLC SCS and an Entity Affiliated with GEM
Description of Business [Line Items]
Common stock issued under software license agreement | shares					1,000,000
Subsequent Event | GEM Purchase Agreement
Description of Business [Line Items]
Common stock that could be issued and sold | shares								325,000,000
Minimum
Description of Business [Line Items]
Capital contribution contingent past due rental and maintenance repayment					$ 30,000,000
Capital contribution contingent past due rental and maintenance full repayment					$ 50,000,000
Maximum | Issued to GEM in Connection with Share Purchase Agreement
Description of Business [Line Items]
Common stock issued under software license agreement | shares					18,700,000
Maximum | Share Purchase Agreement with GEM
Description of Business [Line Items]
Share purchase agreement advance					$ 90,000
Share Purchase Agreement, percentage of purchase commitment					10%
Maximum | Tranche One | GEM Purchase Agreement
Description of Business [Line Items]
Common stock that could be issued and sold | shares					25,000,000
Maximum | Tranche Two | GEM Purchase Agreement
Description of Business [Line Items]
Common stock that could be issued and sold | shares					300,000,000
Southern
Description of Business [Line Items]
Business acquisition date	Jul. 27, 2023
Business acquisition, share price | $ / shares	$ 5
Issuance of common stock for business acquisition (shares) | shares	16,249,963
Aggregate merger consideration	$ 81,250,000
Business combination, shares issued | shares	16,250,000
Southern | Minimum
Description of Business [Line Items]
Number of aircrafts | Aircrafts					50
Accrued Expenses
Description of Business [Line Items]
Total outstanding federal excise tax liability including accrued penalties and interest					$ 7,900,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Additional Information) (Details) $ in Thousands	1 Months Ended	6 Months Ended
	Apr. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Summary of Significant Accounting Policies [Line Items]
Maximum unsettled amount receivable		$ 3,000
Percentage of revolving accounts receivable	0.80
Non refundable irrevocable extension fee.	$ 100
Borrowing capacity reduction percentage of revolving accounts receivable	10%

Business Combination - Addition

Business Combination - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Jul. 27, 2023	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Common stock, par value		$ 0.0001	$ 0.0001
Repurchase of shares		403,667
Repurchase of shares, value		$ 1,300
Southern
Business Acquisition [Line Items]
Business acquisition date	Jul. 27, 2023
Purchase consideration	$ 81,250
Business combination, shares issued	16,250,000
Common stock, par value	$ 5
Payments made to settlement of debt obligations	$ 699
Impairment of goodwill		60,000
Purchase price of identified intangible assets		27,100
Net liabilities		5,100
Goodwill		$ 60,000

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Insurance	$ 497	$ 2,306
Prepaid software	2,417	2,647
Prepaid marketing	2,381	2,406
Engine reserves	1,972	1,150
Vendor operator prepayments	748	634
Prepaid fuel	259	301
Other	1,654	1,607
Total prepaid expenses and other current assets	$ 9,928	$ 11,051

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Summary of Property Plant And Equipment Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 51,326	$ 48,362
Accumulated depreciation	(4,285)	(2,371)
Property and equipment, net	47,041	45,991
Aircraft, Equipment and Rotable Spares
Property, Plant and Equipment [Line Items]
Property and equipment, gross	41,137	39,196
Equipment Purchase Deposits
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,000	5,000
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,255	2,479
Office, Vehicles and Ground Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,225	1,179
Internal-Use Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,709	$ 508

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Depreciation and Amortization Expense
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,200	$ 114	$ 2,200	$ 222

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 37,474	$ 37,474
Accumulated amortization	(12,584)	(10,811)
Intangible assets, net	24,890	26,663
EAS Contracts
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	25,770	25,770
Tradenames and Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	8,340	8,340
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	3,122	3,122
Other Intangibles
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 242	$ 242

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 900	$ 148	$ 1,800	$ 297

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Expected Future Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 1,772
2025	3,051
2026	2,915
2027	2,764
2028	2,577
Thereafter	11,811
Intangible assets, net	$ 24,890	$ 26,663

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Supplemental Balance Sheet Information [Line Items]
Operating lease right-of-use assets	$ 10,523	$ 12,818
Operating lease liabilities, current	4,322	4,104
Lease liabilities, long term	$ 3,894	$ 5,507

Leases - Supplemental Balance_2

Leases - Supplemental Balance Sheet Information Related to Finance Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Finance lease right-of-use assets	$ 1,273	$ 1,343
Finance lease liabilities, current	256	215
Finance lease liabilities, long term	$ 1,078	$ 1,137

Leases - Supplemental Disclosur

Leases - Supplemental Disclosures of Cash Flow and Other Information Related to Finance Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Leases [Abstract]
Cash paid for finance lease liabilities	$ 113
Non-cash transactions - Finance lease assets obtained in exchange for finance lease liabilities	$ 95

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 45,017	$ 26,751
Accrued professional services	10,913	11,473
Excise and franchise taxes payable	7,899	7,672
Collateralized borrowings	2,013	2,977
Software license fee payable	6,250	2,000
Aircraft contract termination payable	128	1,454
Accrued Monarch legal settlement	1,314	1,314
Insurance premium liability		1,131
Accrued major maintenance	245	980
Interest and commitment fee payable	231	190
Statutory penalties	282	520
Other accrued liabilities	4,605	3,120
Accrued Liabilities and Other Liabilities, Total	$ 78,897	$ 59,582

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Accounts Receivable Financing Arrangement [Line Items]
Maximum unsettled amount receivable		$ 3,000
Outstanding amount due under the facility	$ 2,013	2,013	$ 2,977
Southern Airways Express
Accounts Receivable Financing Arrangement [Line Items]
Total borrowings	11,100	23,100
Settled through the transfer of pledged receivables	7,700	21,000
Interest expense incurred	$ 129	$ 259
Prime Rate | Southern Airways Express
Accounts Receivable Financing Arrangement [Line Items]
Interest rate		1%
Debt instrument interest rate discription		prime rate plus 1%

Financing Arrangements - Additi

Financing Arrangements - Additional Information (Details) - USD ($)				1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 27, 2023	Jun. 21, 2023	Jun. 15, 2023	Jul. 31, 2023	Jun. 30, 2024	Dec. 31, 2023	Jul. 21, 2023
Debt Instrument [Line Items]
Fair value of convertible notes					$ 8,014,000	$ 7,715,000
Common stock, shares issued					87,029,425	76,150,437
Covenants description					The Company is subject to customary affirmative covenants and negative covenants with respect to the Convertible Note Purchase Agreement. These covenants are in the form of minimum liquidity requirements the Company must maintain. The Company has received a waiver from PFG regarding the maintenance of minimum cash requirement of $10 million. The waiver effectively waives the requirement through the maturity date of December 31, 2024. As of June 30, 2024, the Company was in compliance with all other covenants under the Convertible Note Purchase Agreement.
Outstanding principal					$ 38,118,000	$ 18,610,000
Principal amount outstanding on SAFE-T note					500,000	500,000
SAFE Notes
Debt Instrument [Line Items]
Aggregate principal amount							$ 15,000,000
Convertible Note Purchase Agreement
Debt Instrument [Line Items]
Fair value of convertible notes					8,014,000	7,715,000
Proceeds from Convertible Debt	$ 8,000,000			$ 8,000,000		$ 8,000,000
Price per share	$ 5
Exchange of common stock, share	1,333,333
LamJam | SAFE Notes
Debt Instrument [Line Items]
Amounts of transaction			$ 6,900,000
Common stock, shares issued			2,132,608
Partners for Growth V, L.P.
Debt Instrument [Line Items]
Minimum cash requirement					$ 10,000,000
Partners for Growth V, L.P. | Convertible Note Purchase Agreement | Senior Unsecured Convertible Promissory Note
Debt Instrument [Line Items]
Aggregate principal amount		$ 8,000,000
Interest rate, stated percentage		9.75%
Maturity date		Dec. 31, 2024
Debt instrument percentage equal to initial listing price		120%
Common Stock | SAFE Notes
Debt Instrument [Line Items]
Common stock, shares issued							4,615,384

Financing Arrangements - Summar

Financing Arrangements - Summary of Total Debt Due to Unrelated Parties (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 23,268	$ 25,794
Current maturities of long-term debt	(4,922)	(5,177)
Long-term debt, net of current maturities	18,346	20,617
Note Payable to a Financing Company, Fixed Interest Rate of 7.60%, Due November 2024
Debt Instrument [Line Items]
Long-term debt, gross	116	257
Note Payable to Bank, Fixed Interest Rate of 4.65%, Due November 2025
Debt Instrument [Line Items]
Long-term debt, gross	10	15
Note Payable to a Financing Company, Fixed Interest Rate of 5.49%, Due December 2026
Debt Instrument [Line Items]
Long-term debt, gross	155	184
Notes Payable to Clarus Capital, Fixed Interest Rate of 8.66%, Due April, June and September 2027
Debt Instrument [Line Items]
Long-term debt, gross	14,713	16,476
Notes Payable to Skywest, Fixed Interest Rates of 4% and 9%, Due April 2028 and November 2024, Respectively
Debt Instrument [Line Items]
Long-term debt, gross	5,185	5,656
Note Payable to Tecnam, Fixed Interest Rate of 6.75%, Due July and August 2032
Debt Instrument [Line Items]
Long-term debt, gross	$ 3,089	$ 3,206

Financing Arrangements - Summ_2

Financing Arrangements - Summary of Total Debt Due to Unrelated Parties (Parenthetical) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Note Payable to a Financing Company, Fixed Interest Rate of 7.60%, Due November 2024
Debt Instrument [Line Items]
Interest rate, stated percentage	7.60%	7.60%
Maturity date	Nov. 30, 2024	Nov. 30, 2024
Note Payable to Bank, Fixed Interest Rate of 4.65%, Due November 2025
Debt Instrument [Line Items]
Interest rate, stated percentage	4.65%	4.65%
Maturity date	Nov. 30, 2025	Nov. 30, 2025
Note Payable to a Financing Company, Fixed Interest Rate of 5.49%, Due December 2026
Debt Instrument [Line Items]
Interest rate, stated percentage	5.49%	5.49%
Maturity date	Dec. 31, 2026	Dec. 31, 2026
Notes Payable to Clarus Capital, Fixed Interest Rate of 8.66%, Due April, June and September 2027 | Maturity One
Debt Instrument [Line Items]
Interest rate, stated percentage	8.66%	8.66%
Maturity date	Apr. 30, 2027	Apr. 30, 2027
Notes Payable to Clarus Capital, Fixed Interest Rate of 8.66%, Due April, June and September 2027 | Maturity Two
Debt Instrument [Line Items]
Interest rate, stated percentage	8.66%	8.66%
Maturity date	Jun. 30, 2027	Jun. 30, 2027
Notes Payable to Clarus Capital, Fixed Interest Rate of 8.66%, Due April, June and September 2027 | Maturity Three
Debt Instrument [Line Items]
Interest rate, stated percentage	8.66%	8.66%
Maturity date	Sep. 30, 2027	Sep. 30, 2027
Notes Payable to Skywest, Fixed Interest Rates of 4% and 9%, Due April 2028 and November 2024, Respectively | Maturity One
Debt Instrument [Line Items]
Interest rate, stated percentage	4%	9%
Maturity date	Apr. 30, 2028	Apr. 30, 2028
Notes Payable to Skywest, Fixed Interest Rates of 4% and 9%, Due April 2028 and November 2024, Respectively | Maturity Two
Debt Instrument [Line Items]
Interest rate, stated percentage	4%	9%
Maturity date	Nov. 30, 2024	Nov. 30, 2024
Note Payable to Tecnam, Fixed Interest Rate of 6.75%, Due July and August 2032 | Maturity One
Debt Instrument [Line Items]
Interest rate, stated percentage	6.75%	6.75%
Maturity date	Jul. 31, 2032	Jul. 31, 2032
Note Payable to Tecnam, Fixed Interest Rate of 6.75%, Due July and August 2032 | Maturity Two
Debt Instrument [Line Items]
Interest rate, stated percentage	6.75%	6.75%
Maturity date	Aug. 30, 2032	Aug. 30, 2032

Financing Arrangements - Summ_3

Financing Arrangements - Summary of Future Maturities of Total Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Remainder of 2024	$ 3,659
2025	2,512
2026	2,710
2027	12,032
2028	685
Thereafter	1,670
Total	$ 23,268	$ 25,794

Financing Arrangements - Summ_4

Financing Arrangements - Summary of Fair Value of Convertible Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Fair value of convertible notes	$ 8,014	$ 7,715
Convertible Note Purchase Agreement
Debt Instrument [Line Items]
Fair value of convertible notes	$ 8,014	$ 7,715

Financing Arrangements - Summ_5

Financing Arrangements - Summary of Fair Value of SAFE-T Note (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Fair value of SAFE notes	$ 6	$ 25
Less: SAFE notes at fair value, current	(4,922)	(5,177)
SAFE Notes
Debt Instrument [Line Items]
Less: SAFE notes at fair value, current	(6)	(25)
SAFE-T
Debt Instrument [Line Items]
Fair value of SAFE notes	$ 6	$ 25

Share Purchase Agreement and _2

Share Purchase Agreement and GEM Purchase - Additional Information (Details) - USD ($)			3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 01, 2024	Jul. 27, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2020	Dec. 31, 2023	Oct. 03, 2023	Sep. 29, 2023	Sep. 18, 2023	Aug. 02, 2023	Jul. 24, 2023	Jul. 21, 2023	Jun. 15, 2023	Feb. 08, 2023	May 17, 2022
Share Purchase Agreement [Line Items]
Number of ordinary shares re-issued				87,029,425			76,150,437
Fully-diluted ordinary shares outstanding				87,029,425			76,150,437
Exchange of common stock, value			$ 202,000		$ 202,000
Common stock, par value				$ 0.0001			$ 0.0001
GEM Purchase Agreement
Share Purchase Agreement [Line Items]
Exchange of common stock, value		$ 25,000,000
Exchange of common stock, share		1,000,000
GEM Purchase Agreement, registration statement requirement											1,000,000
GEM | Mandatory Convertible Security Purchase Agreement (the "MCSPA")
Share Purchase Agreement [Line Items]
Sale price of common shares	$ 4.45
Remaining outstanding par amount payment percentage	115%
Increase in remaining outstanding par amount	15%
Ownership percentage of common shares outstanding after conversion	4.99%
GEM | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Maximum
Share Purchase Agreement [Line Items]
Share Purchase Agreement, cash consideration	$ 400,000,000
Exchange of common stock, value	$ 35,200,000
Change in ownership percentage of common shares outstanding after conversion	9.99%
Regular drawdowns amount	$ 300,000,000
Advance drawdowns amount	$ 100,000,000
GEM | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Common Shares
Share Purchase Agreement [Line Items]
Exchange of common stock, share	8,000,000
Common stock, par value	$ 0.0001
Number of shares delivered	6,300,000
SPA | GEM and an Entity Affiliated with GEM
Share Purchase Agreement [Line Items]
Share Purchase Agreement, cash consideration						$ 200,000,000				$ 400,000,000					$ 400,000,000	$ 400,000,000
Share Purchase Agreement, commitment fee payable						$ 4,000,000
Share Purchase Agreement, percentage of purchase commitment						0.75%						0.75%	0.75%	0.75%
Share Purchase Agreement, exercise price per share						$ 0.01
Share Purchase Agreement, commitment fee shares									4,000,000	4,000,000					4,000,000	4,000,000
Number of common stock deposited into an escrow account				18,000,000
Contractual Discount Percentage				10%
Maximum share ownership percentage				10%
Share Purchase Agreement, advance receivable				$ 100,000,000
Share Purchase Agreement, installments of individual advances										$ 25,000,000					$ 25,000,000	$ 25,000,000
Share Purchase Agreement, installments of individual first advances										$ 7,500,000					$ 7,500,000	$ 7,500,000
Share Purchase Agreement, first advance received									$ 4,500,000
Share Purchase Agreement, total request amount									$ 7,500,000
Share Purchase Agreement, remaining amount received								$ 3,000,000
Fair value of commitment under share purchase agreement				$ 14,100,000			$ 11,300,000
Number of ordinary shares re-issued											1,300,000
Fully-diluted ordinary shares outstanding												1,300,000	1,300,000	1,300,000
SPA | GEM and an Entity Affiliated with GEM | Common Shares
Share Purchase Agreement [Line Items]
Stock Issued During Period, Shares, New Issues		1,300,000
Share Subscription Facility | GEM and an Entity Affiliated with GEM
Share Purchase Agreement [Line Items]
Share Purchase Agreement, cash consideration												$ 25,000,000	$ 25,000,000	$ 25,000,000
Share Purchase Agreement, aggregate shares												1,000,000	1,000,000	1,000,000
Share Purchase Agreement, registration statement requirement												1,000,000	1,000,000	1,000,000

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Company's Financial Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	$ 22,131	$ 19,073
Convertible Notes at Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	8,014	7,715
SAFE Notes at Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	6	25
GEM Derivative Liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	14,111	11,333
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	22,131	19,073
Level 3 | Convertible Notes at Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	8,014	7,715
Level 3 | SAFE Notes at Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	6	25
Level 3 | GEM Derivative Liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total financial liabilities	$ 14,111	$ 11,333

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Reconciliation of Activity and Changes in Fair Value for Company's Convertible Loans and Redeemable Convertible Preferred Stock Warrant Liability (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Convertible Notes at Fair Value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 7,715
Borrowings on convertible notes	34
Change in fair value	265
Ending Balance	8,014
SAFE Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	25
Change in fair value	(19)
Ending Balance	6
GEM Derivative Liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	11,333
Advances received on share purchase agreement	2,500
Change in fair value	278
Ending Balance	$ 14,111

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying Amounts and Fair Values of Long-term Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 6	$ 25
Carrying Amount | Long-term Debt, Including Current Maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	23,268	25,794
Carrying Amount | Term Notes Payable to Related Parties
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	38,118	18,610
Fair Value | Long-term Debt, Including Current Maturities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	22,843	26,036
Fair Value | Term Notes Payable to Related Parties
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 37,983	$ 18,541

Warrants - Additional Informati

Warrants - Additional Information (Details) - Convertible Preferred Share Warrants	Jun. 30, 2024 $ / shares shares	Jul. 21, 2023 shares	Jun. 30, 2023 shares
Class of Warrant or Right [Line Items]
Warrants issued	0
Converted preferred share warrants		120,935
Preferred share warrants conversion ratio		0.0224
Exercise price of warrant per share | $ / shares	$ 38.23
Class B2 Preferred Warrants
Class of Warrant or Right [Line Items]
Warrants issued			805,823
Warrants outstanding			805,823
Class B3 Preferred Warrants
Class of Warrant or Right [Line Items]
Warrants issued			410,123
Warrants outstanding			410,123
Class B4 Preferred Warrants
Class of Warrant or Right [Line Items]
Warrants issued			1,493,015
Warrants outstanding			1,493,015

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)

1 Months Ended

3 Months Ended

6 Months Ended

25 Months Ended

58 Months Ended

84 Months Ended

Feb. 23, 2024 USD ($)

Oct. 17, 2023 USD ($)

Oct. 10, 2022 USD ($)

Sep. 15, 2022 USD ($) Caravan

Nov. 08, 2021 USD ($)

May 18, 2021 Agreement

May 15, 2018 USD ($)

May 31, 2024 USD ($)

Jun. 30, 2024 USD ($) shares

Jun. 30, 2024 USD ($) shares

Jun. 30, 2023 USD ($)

Jun. 30, 2023 USD ($)

May 07, 2028 USD ($)

May 07, 2028 USD ($)

Dec. 31, 2023 USD ($)

Commitments And Contingencies [Line Item]

Aggregate purchase amount

$ 1,420,000

$ 203,000

Tax commitment including penalties and interest

$ 1,900,000

Outstanding federal excise tax liability including accrued penalties and interest

$ 7,900,000

7,900,000

$ 7,600,000

Outstanding property tax liability including penalties and interest.

1,700,000

1,700,000

900,000

Proposed civil penalty

$ 300,000

Revision of proposed civil penalty

$ 32,000

Accrued expense

300,000

300,000

Maximum civil penalty per flight

$ 14,950

Finalised civil penalty

$ 16,000

Sales and Marketing Agreement

Commitments And Contingencies [Line Item]

License fee payable

$ 40,000,000

Jetstream Agreement | Minimum

Commitments And Contingencies [Line Item]

Usage obligation

$ 120,000,000

Jetstream Agreement | Maximum

Commitments And Contingencies [Line Item]

Aggregate purchase amount

$ 450,000,000

Offer-In-Compromise ("OIC")

Commitments And Contingencies [Line Item]

Payments on historical excise tax liabilities

34,000

34,000

Textron Agreement

Commitments And Contingencies [Line Item]

License fee payable

$ 60,000,000

12,500,000

Initial license fee remaining payments

12,500,000

12,500,000

Remaining license fee payable

35,000,000

35,000,000

Textron Agreement | Aircraft Purchase Agreement | Caravans

Commitments And Contingencies [Line Item]

Option to purchase additional caravans, Number | Caravan

90

Aggregate purchase amount

$ 297,000,000

Textron Agreement | Aircraft Purchase Agreement | Specifically Configured Caravans

Commitments And Contingencies [Line Item]

License fee payable

5,000,000

5,000,000

Additional license fee payable

5,000,000

Option to purchase additional caravans, Number | Caravan

26

Caravan purchase period

7 years

Textron Agreement | Aircraft Purchase Agreement | Specifically Configured Caravans | Minimum

Commitments And Contingencies [Line Item]

Aggregate purchase amount

$ 85,800,000

Textron Agreement | Technology and development expenses

Commitments And Contingencies [Line Item]

License fee payable

$ 12,500,000

12,500,000

Palantir Technologies Inc

Commitments And Contingencies [Line Item]

Outstanding payables settled

$ 6,000,000

Shares issued | shares

8,908,800

8,908,800

Remaining commitments

$ 31,000,000

$ 31,000,000

Palantir Technologies Inc | Software License Agreements

Commitments And Contingencies [Line Item]

Number of agreements executed | Agreement

2

Term of agreement

7 years

Total software cost

$ 11,000,000

Payment for software service

$ 2,800,000

$ 2,800,000

$ 2,500,000

Palantir Technologies Inc | Software License Agreements | Scenario Forecast

Commitments And Contingencies [Line Item]

Total software cost

$ 39,000,000

$ 50,000,000

Rise Parties

Commitments And Contingencies [Line Item]

Payment of actual damages

$ 1,000,000

Pre-judgment interest

200,000

Rise Parties | Attorneys' Fees

Commitments And Contingencies [Line Item]

Litigation settlement, expense

60,000

Rise Parties | Court Costs

Commitments And Contingencies [Line Item]

Litigation settlement, expense

$ 3,000

Disaggregated Revenue - Summary

Disaggregated Revenue - Summary of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 32,366	$ 6,195	$ 62,990	$ 11,702
Scheduled
Disaggregation of Revenue [Line Items]
Revenue	24,242	1,048	47,223	1,880
On Demand
Disaggregation of Revenue [Line Items]
Revenue	$ 8,124	$ 5,147	$ 15,767	$ 9,822

Disaggregated Revenue - Additio

Disaggregated Revenue - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue recognized	$ (19,026)	$ (6,195)	$ (36,761)	$ (11,702)
Passenger
Disaggregation of Revenue [Line Items]
Revenue recognized			10,600
Other Long Term Liabilities
Disaggregation of Revenue [Line Items]
Long term performance obligations for contractually committed revenues	$ 3,100		$ 3,100		$ 2,700

Disaggregated Revenue - Summa_2

Disaggregated Revenue - Summary of Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Abstract]
Deferred revenue, beginning of period	$ 21,230	$ 9,953	$ 21,726	$ 9,568
Revenue deferred	17,972	6,772	35,211	12,664
Revenue recognized	(19,026)	(6,195)	(36,761)	(11,702)
Deferred revenue, end of period	$ 20,176	$ 10,530	$ 20,176	$ 10,530

Redeemable Convertible Preferre

Redeemable Convertible Preferred Shares and Convertible Preferred Shares - Additional Information (Details) $ in Thousands		3 Months Ended		6 Months Ended
	Jul. 21, 2023	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 shares
Temporary Equity [Line Items]
Common stock, shares issued | shares		87,029,425		87,029,425		76,150,437
Shares conversion ratio	0.0446
Stock-based compensation expense | $		$ 7,353	$ 1,653	$ 19,995	$ 2,798

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Tranche $ / shares shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted | shares			10,891,962
Share-based compensation expense	$ 7,353,000	$ 1,653,000	$ 19,995,000	$ 2,798,000
Accrued compensation and benefits	45,017,000		45,017,000		$ 26,751,000
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount	3,400,000		$ 3,400,000
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			1 year 5 months 8 days
Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	147,000		$ 147,000
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			2 years 9 months
Share-based payment arrangement, nonvested award, excluding option, cost not yet recognized, amount	1,500		$ 1,500
Vesting period			3 years
Warrants issued | shares			14,011,616
Warrants | Vested on Grant Date
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage			25%
Percentage for award vesting			25%
Warrants | Vesting Upon Each Anniversary Over Ensuing Three-year Period
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage			25%
Percentage for award vesting			25%
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options granted | shares			10,891,962
Share-based compensation expense	$ 1,293,000	624,000	$ 2,248,000	1,586,000
Vesting period			3 years
Employee Stock Option | Vested on Grant Date
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage			25%
Percentage for award vesting			25%
Employee Stock Option | Vest Upon Each Anniversary Over Ensuing Three-year Period
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage			25%
Percentage for award vesting			25%
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance | shares	1,570,293		1,570,293		773,063
Weighted average grant date fair value | $ / shares	$ 1.91		$ 1.91		$ 2.94
Share-based compensation expense	$ 680,000		$ 1,422,000
Service period			2 years
Restricted Share Purchase Agreement
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance | shares	338,450		338,450		422,641
Weighted average grant date fair value | $ / shares	$ 4.16		$ 4.16		$ 4.15
Share-based compensation expense	$ 171,000	$ 174,000	$ 349,000	$ 357,000
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition			2 years
Share-based payment arrangement, nonvested award, excluding option, cost not yet recognized, amount	$ 1,400,000		$ 1,400,000
Expiration term			5 years
Performance Based Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance | shares	3,000,000		3,000,000		3,000,000
Weighted average grant date fair value | $ / shares	$ 2.11		$ 2.11		$ 2.11
Share-based compensation expense	$ 766,000		$ 1,534,000
2023 Equity Incentive Plan | Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance | shares	1,224,118		1,224,118
Management Incentive Bonus Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of bonus pool tranches | Tranche			2
Share-based compensation expense			$ 14,300,000
Accrued compensation and benefits	$ 31,000,000		$ 31,000,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Stock Options Outstanding, Beginning balance	1,606,159
Number of Stock Options Outstanding, Granted	10,891,962
Number of Stock Options Outstanding, Exercised	(1,946)
Number of Stock Options Outstanding, Canceled	(5,802)
Number of Stock Options Outstanding, Ending balance	12,490,373	1,606,159
Number of Stock Options Outstanding, Exercisable	3,603,770
Weighted Average Contractual Term (in years), Outstanding	9 years 6 months 21 days	8 years
Weighted Average Contractual Term (in years), Granted	9 years 10 months 28 days
Weighted Average Contractual Term (in years), Exercisable	8 years 10 months 13 days
Aggregate Intrinsic Value, Outstanding | $	$ 58	$ 687
Aggregate Intrinsic Value, Granted | $	42
Aggregate Intrinsic Value, Exercisable | $	$ 21
Weighted Average Exercise Price Per Share, Beginning balance | $ / shares	$ 4.12
Weighted Average Exercise Price Per Share, Granted | $ / shares	0.81
Weighted Average Exercise Price Per Share, Canceled | $ / shares	5.31
Weighted Average Exercise Price Per Share, Ending balance | $ / shares	1.09	$ 4.12
Weighted Average Exercise Price Per Share, Exercisable | $ / shares	$ 1.43

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Fair Value of Share Options Granted (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Risk-free interest rate (Minimum)	3.97%	3.55%
Risk-free interest rate (Maximum)	4.25%	3.74%
Expected term (in years)		5 years 9 months 18 days
Dividend yield	0%	0%
Expected volatility (Minimum)	56%	61%
Expected volatility (Maximum)	59%	155%
Minimum
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected term (in years)	3 years 6 months
Maximum
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected term (in years)	5 years 9 months 18 days

Stock-based Compensation - Su_3

Stock-based Compensation - Summary of Warrant Activity (Details) - Warrants	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Warrants Outstanding, Beginning balance | shares	0
Number of Warrants Outstanding, Granted | shares	14,011,616
Number of Warrants Outstanding Ending balance | shares	14,011,616
Number of Warrants Outstanding, Exercisable | shares	262,500
Weighted Average Contractual Term (in years), Outstanding	9 years 11 months 26 days
Weighted Average Contractual Term (in years), Granted	9 years 11 months 26 days
Weighted Average Contractual Term (in years), Exercisable	9 years 11 months 26 days
Weighted Average Exercise Price Per Share, Outstanding, Beginning balance | $ / shares	$ 0
Weighted Average Exercise Price Per Share, Granted | $ / shares	0.88
Weighted Average Exercise Price Per Share, Outstanding, Ending balance | $ / shares	0.88
Weighted Average Exercise Price Per Share, Exercisable | $ / shares	$ 0.88

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Fair Value of Warrants Granted (Details)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Risk-free interest rate (Minimum)	3.97%	3.55%
Risk-free interest rate (Maximum)	4.25%	3.74%
Expected term (in years)		5 years 9 months 18 days
Dividend yield	0%	0%
Expected volatility (Minimum)	56%	61%
Expected volatility (Maximum)	59%	155%
Minimum [Member]
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected term (in years)	3 years 6 months
Maximum [Member]
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected term (in years)	5 years 9 months 18 days
Warrant [Member]
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Risk-free interest rate (Minimum)	4.23%
Risk-free interest rate (Maximum)	4.25%
Dividend yield	0%
Expected volatility (Minimum)	47%
Expected volatility (Maximum)	56%
Warrant [Member] | Minimum [Member]
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected term (in years)	5 years 9 months 18 days
Warrant [Member] | Maximum [Member]
Schedule of Share Based Payment Award Stock Options Valuation Assumptions [Line Items]
Expected term (in years)	10 years

Stock-Based Compensation - Su_5

Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance	773,063
Granted	1,224,118
Vested/shares issued	(426,888)
Number of Unvested Restricted Share, Ending balance	1,570,293
Weighted Average Grant Date Fair Value per Unvested Restricted Share, Beginning balance | $ / shares	$ 2.94
Weighted Average Grant Date Fair Value per Restricted share, Granted	1.03
Weighted Average Grant Date Fair Value per Restricted Share, Vested/shares issued | $ / shares	$ 1.95
Weighted Average Grant Date Fair Value per Unvested Restricted Share, Ending balance | $ / shares	$ 1.91

Stock-Based Compensation - Su_6

Stock-Based Compensation - Summary of RSPA activity (Details) - Restricted Share Purchase Agreement	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance | shares	422,641
Number of RSPA, Vested | shares	(84,191)
Number of Unvested Restricted Share, Ending balance | shares	338,450
Weighted Average Grant Date Fair Value per Unvested Restricted Share, Beginning balance | $ / shares	$ 4.15
Weighted Average Grant Date Fair Value per RSPAs, Vested | $ / shares	4.13
Weighted Average Grant Date Fair Value per Unvested Restricted Share, Ending balance | $ / shares	$ 4.16

Stock-Based Compensation - Su_7

Stock-Based Compensation - Summary of Performance-based Restricted Stock Units ("PRSU") Activity (Details) - Performance Based Restricted Stock Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Unvested Restricted Share, Beginning balance | shares	3,000,000
Number of Unvested Restricted Share, Ending balance | shares	3,000,000
Weighted Average Grant Date Fair Value per Unvested Restricted Share, Beginning balance | $ / shares	$ 2.11
Weighted Average Grant Date Fair Value per Unvested Restricted Share, Ending balance | $ / shares	$ 2.11

Stock-Based Compensation - Su_8

Stock-Based Compensation - Summary of Price Targets Included in PRSU Awards and Number of PRSUs That Will Vest Upon Achievement of Such Price Targets (Details) - Performance Based Restricted Stock Units	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Company Price Target | $ / shares	$ 5
Number of PRSUs Eligible to Vest | shares	50,000
Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Company Price Target | $ / shares	$ 10
Number of PRSUs Eligible to Vest | shares	2,875,000
Share-Based Payment Arrangement, Tranche Three
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Company Price Target | $ / shares	$ 15
Number of PRSUs Eligible to Vest | shares	75,000

Stock-Based Compensation - Su_9

Stock-Based Compensation - Summary of Stock-based Compensation Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	$ 7,353	$ 1,653	$ 19,995	$ 2,798
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	1,293	624	2,248	1,586
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	680		1,422
RSPAs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	171	174	349	357
PRSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	766		1,534
Management Incentive Bonus Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	4,296		14,295
Other
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense		$ 855		$ 855
Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation expense	$ 147		$ 147

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Examination [Line Items]
Income tax provision (benefit)	$ (35)	$ 0	$ (81)	$ 0
Federal statutory rate	21%	21%	21%	21%

Related Party Balances and Tr_3

Related Party Balances and Transactions - Additional Information (Details)

3 Months Ended

6 Months Ended

Jul. 31, 2024 USD ($)

Jul. 01, 2024 USD ($)

Apr. 28, 2024 USD ($)

Feb. 01, 2024 Aircrafts

Jan. 26, 2024 USD ($)

Dec. 29, 2023 USD ($)

Jul. 21, 2023 USD ($) ConvertiblePreferredShares shares

Jun. 15, 2023 USD ($) ConvertiblePreferredShares shares

May 22, 2023 USD ($)

Jun. 30, 2024 USD ($) Aircrafts shares

Jun. 30, 2023 USD ($)

Jun. 30, 2024 USD ($) Aircrafts $ / Aircrafts shares

Jun. 30, 2023 USD ($)

Dec. 31, 2023 USD ($) shares

Mar. 31, 2023

Jan. 18, 2023 USD ($)

Nov. 30, 2022 USD ($)

Related Party Transaction [Line Items]

Common stock, shares issued | shares

87,029,425

87,029,425

76,150,437

Fair value of convertible notes

$ 8,014,000

$ 8,014,000

$ 7,715,000

Converted to shares from related party promissory note

$ 5,260,000

$ 5,260,000

Accounts payable

25,983,000

$ 25,983,000

18,854,000

LamVen

Related Party Transaction [Line Items]

Monthly lease payment per aircraft | $ / Aircrafts

25,000

LamVen | Term Notes

Related Party Transaction [Line Items]

Principal amount

$ 4,600,000

$ 1,000,000

$ 4,500,000

Debt Instrument, Maturity Date

Dec. 31, 2023

Debt instrument, extended maturity date

May 15, 2024

Feb. 09, 2024

Jan. 15, 2024

Interest rate of term note

10%

Interest rate, stated percentage

8.25%

LamVen | Term Notes | Subsequent Event

Related Party Transaction [Line Items]

Debt instrument, extended maturity date

Aug. 20, 2024

LamVen | Note

Related Party Transaction [Line Items]

Principal amount

$ 25,000,000

$ 15,000,000

$ 10,000,000

$ 5,000,000

1,500,000

$ 1,500,000

$ 8,500,000

Debt instrument remaining amount received

$ 28,000,000

$ 28,000,000

Debt Instrument, Maturity Date

Dec. 31, 2023

Debt instrument, extended maturity date

May 15, 2024

Feb. 09, 2024

Jan. 15, 2024

Interest rate of term note

10%

LamVen | Note | Subsequent Event

Related Party Transaction [Line Items]

Principal amount

$ 36,100,000

$ 33,400,000

Debt instrument, extended maturity date

Aug. 20, 2024

Additional amount received under note agreement

$ 5,300,000

LamJam | Term Notes

Related Party Transaction [Line Items]

Term note agreement amount

$ 3,500,000

Converted to shares from related party promissory note

$ 5,300,000

Converted to shares from related party promissory note, shares | shares

9,932,241

Park Lane

Related Party Transaction [Line Items]

Number of aircrafts | Aircrafts

4

4

Lease agreement, extend

On February 1, 2024, the lease term for the four aircraft was extended to a 12- month term starting February 1, 2024 and expiring January 31, 2025

lease payment

$ 600,000

BAJ Flight Services

Related Party Transaction [Line Items]

Number of aircraft leased | Aircrafts

1

1

Percentage of change in ownership

100%

100%

JA Flight Services

Related Party Transaction [Line Items]

Number of aircraft leased | Aircrafts

3

3

JA Flight Services | Bruce A. Jacobs

Related Party Transaction [Line Items]

Ownership percentage

50%

50%

JA Flight Services And BAJ Flight Services

Related Party Transaction [Line Items]

Combined lease and engine reserve expense

$ 267,000

$ 675,000

Accounts payable

520,000

520,000

Schuman Aviation

Related Party Transaction [Line Items]

Combined lease and engine reserve expense

421,000

807,000

Accounts payable

$ 466,000

$ 466,000

Term of contract

60 months

60 months

Non servicing agreement term

10 years

10 years

Payment discription

Remaining amounts due under this agreement represent the final two annual installment payments, of $100 thousand each, which will be paid over the next two years.

lease payment

$ 100,000

SAFE Notes

Related Party Transaction [Line Items]

Number of shares, debt converted | ConvertiblePreferredShares

103,385,325

Principal amount

$ 15,000,000

SAFE Notes | Common Shares

Related Party Transaction [Line Items]

Common stock, shares issued | shares

4,615,384

SAFE Notes | LamJam

Related Party Transaction [Line Items]

Number of shares, debt converted | ConvertiblePreferredShares

47,770,712

Common stock, shares issued | shares

2,132,608

Amounts of transaction

$ 6,900,000

2017 Convertible Notes

Related Party Transaction [Line Items]

Number of shares, debt converted | ConvertiblePreferredShares

28,332,454

2017 Convertible Notes | Common Shares

Related Party Transaction [Line Items]

Common stock, shares issued | shares

1,264,834

Related Party Balances and Tr_4

Related Party Balances and Transactions - Schedule of Term Notes Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Term notes outstanding	$ 38,118	$ 18,610
LamVen | Term Notes
Related Party Transaction [Line Items]
Term notes outstanding	$ 38,118	$ 18,610

Supplemental Cash Flows - Sched

Supplemental Cash Flows - Schedule of Supplemental Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 1,747
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Common stock issued under software license agreement	6,000
Issuance of SAFE notes		$ 4,354
Issuance of Class B-6s convertible preferred shares in exchange for outstanding payables		258
Issuances of Class B-6a redeemable convertible preferred shares in exchange for outstanding payable		4,418
Exercise of ordinary warrants		20
Capitalized interest on convertible notes	34
Right-of-use assets obtained in exchange for new operating lease liabilities	1,160
Right-of-use obtained in exchange for new finance lease liabilities	95
Purchases of property and equipment included in accounts payable	$ 1,415	$ 17

Net Loss per Share Applicable_3

Net Loss per Share Applicable to Common Shareholders, Basic and Diluted - Additional Information (Details)	Jul. 21, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares conversion ratio	0.0446

Net Loss per Share Applicable_4

Net Loss per Share Applicable to Common Shareholders, Basic and Diluted - Schedule of Computation of Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net loss	$ (26,983)	$ (44,520)	$ (63,948)	$ (65,093)
Weighted-average number of common shares used in net loss per share applicable to common shareholders, basic	81,890,955	14,168,091	79,599,848	14,138,856
Weighted-average number of common shares used in net loss per share applicable to common shareholders, diluted	81,890,955	14,168,091	79,599,848	14,138,856
Net loss per share applicable to common shareholders, basic	$ (0.33)	$ (3.14)	$ (0.8)	$ (4.6)
Net loss per share applicable to common shareholders, diluted	$ (0.33)	$ (3.14)	$ (0.8)	$ (4.6)

Net Loss per Share Applicable_5

Net Loss per Share Applicable to Common Shareholders, Basic and Diluted - Schedule of Anti-dilutive Potential Common Shares Excluded from Computation of Diluted net Loss Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:	32,723,538	20,871,036	32,723,538	20,871,036
Options to Purchase Common Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:	12,490,373	1,743,735	12,490,373	1,743,735
Warrants to Purchase Common Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:	14,011,616		14,011,616
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:	4,549,766	220,424	4,549,766	220,424
Unvested RSPAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:	338,450	3,072,999	338,450	3,072,999
Convertible Notes (As Converted to Common Shares)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:	1,333,333	1,607,395	1,333,333	1,607,395
Preferred Stock (As Converted to Common Shares)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Excluded securities:		14,226,483		14,226,483

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Aug. 09, 2024

Aug. 08, 2024

Aug. 07, 2024

Jul. 31, 2024

Apr. 28, 2024

Mar. 01, 2024

Jan. 26, 2024

Dec. 29, 2023

Jun. 15, 2023

May 22, 2023

Aug. 31, 2024

Jul. 31, 2023

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Dec. 31, 2023

Jul. 01, 2024

Jan. 18, 2023

Nov. 30, 2022

Subsequent Event [Line Items]

Exchange of common stock, value

$ 202,000

$ 202,000

Maximum unsettled amount receivable

$ 3,000,000

Southern Airways Express | Prime Rate

Subsequent Event [Line Items]

Debt instrument interest rate discription

prime rate plus 1%

Interest rate

1%

Common Shares

Subsequent Event [Line Items]

Reverse stock split

one-for-seven

GEM Purchase Agreement

Subsequent Event [Line Items]

Exchange of common stock, value

$ 25,000,000

$ 25,000,000

Subsequent Event

Subsequent Event [Line Items]

Maximum unsettled amount receivable

$ 5,000,000

Stockholders percentage of issued and outstanding shares of common stock

65%

Subsequent Event | Southern Airways Express | Prime Rate

Subsequent Event [Line Items]

Debt instrument interest rate discription

prime rate plus 1%

Interest rate

1%

Subsequent Event | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Common Shares | Maximum

Subsequent Event [Line Items]

Exchange of common stock, value

$ 325,000,000

Subsequent Event | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Common Stock Convertible Shares Issuable | Maximum

Subsequent Event [Line Items]

Exchange of common stock, value

8,000,000

LamVen | Term Notes

Subsequent Event [Line Items]

Debt instrument, extended maturity date

May 15, 2024

Feb. 09, 2024

Jan. 15, 2024

Principal amount

$ 4,600,000

$ 1,000,000

$ 4,500,000

Maturity date

Dec. 31, 2023

LamVen | Term Notes | Subsequent Event

Subsequent Event [Line Items]

Debt instrument, extended maturity date

Aug. 20, 2024

LamVen | June 15, 2023 Term Note Agreement

Subsequent Event [Line Items]

Debt instrument, extended maturity date

May 15, 2024

Feb. 09, 2024

Jan. 15, 2024

Principal amount

$ 25,000,000

$ 15,000,000

$ 10,000,000

$ 5,000,000

$ 1,500,000

$ 8,500,000

Maturity date

Dec. 31, 2023

LamVen | June 15, 2023 Term Note Agreement | Subsequent Event

Subsequent Event [Line Items]

Debt instrument, extended maturity date

Aug. 20, 2024

Principal amount

$ 36,100,000

$ 33,400,000

GEM | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Maximum

Subsequent Event [Line Items]

Exchange of common stock, value

$ 35,200,000

Regular drawdowns amount

300,000,000

Advance drawdowns amount

100,000,000

Share Purchase Agreement, cash consideration

$ 400,000,000

GEM | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Common Shares

Subsequent Event [Line Items]

Common stock issued under share purchase agreement

8,000,000

Number of shares delivered

6,300,000

GEM | Subsequent Event | GEM Purchase Agreement

Subsequent Event [Line Items]

Repayment of share purchase agreement advance

$ 2,500,000

Common stock issued under share purchase agreement

8,178,642

GEM | Subsequent Event | Mandatory Convertible Security Purchase Agreement (the "MCSPA")

Subsequent Event [Line Items]

Exchange of common stock, value

$ 35,200,000

Maturity date

Aug. 07, 2029

GEM | Subsequent Event | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Maximum

Subsequent Event [Line Items]

Regular drawdowns amount

$ 300,000,000

Advance drawdowns amount

100,000,000

Share Purchase Agreement, cash consideration

$ 400,000,000

GEM | Subsequent Event | Mandatory Convertible Security Purchase Agreement (the "MCSPA") | Common Shares

Subsequent Event [Line Items]

Number of shares delivered

6,300,000

Palantir Joint Venture | Subsequent Event | Maximum

Subsequent Event [Line Items]

Payment for software service

$ 5,000,000