Originally Posted by
FriendlyPilot
10Q has been posted for Q1 2025.
Operating loss of $207M with Net Loss of $142M. Most of this is because they capitalized a lot of BK reorganization gains and posted that against losses.
The big problem is that Cash on Hand went from $902M at the end of 2024 to $487M at the end of March 2025.
They didn't sell the planes as of March 31st because they have listed an asset as "Assets held for sale" with a value of $447M.
Another surprise is that the debt was not wiped out. The balance sheet shows $8.9M of debt including $4.2B of aircraft leases and 2.2B of long term financing debt. So maybe they are hoping to get paid that off in case of an acquisition.
thanks for the update. That long term debt number makes sense. It was over 3 billion pre bankruptcy and they supposedly wiped out just over a billion in the bk process so that number adds up. The important number here is long term debt, the total liabilities include future tickets, maintenance costs, lease liabilities, and salaries.
I saw that after hours trading of FLYY went up 5%. Wonder if someone saw something they liked in the release. I do think it’s very scary that our cash on hand decreased by half.