100% of the things above are red flags. Zero debt isn't necessarily a good thing, and a huge cash surplus is for sure not universally good either. Clearly being less risk adverse than they were before is smart but if they have zero debt, lots of cash, and a wait list to make more money by selling shares, they have a pretty choked business model. Add onto that, the insane notion of staffing 1,000 airplanes which is basically double the current fleet size, when staffing right now isn't sustainable, is a problem they will be unable to solve. NJA will not be able to staff 1,000 aircraft unless the airlines crap the bed, period.

Typical private jet companies... "Good times are right around the corner, just keep waiting."