Annual report [Section 13 and 15(d), not S-K Item 405]

RELATED PARTY TRANSACTIONS

v3.25.4
RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
The Company owns a 25% voting interest and a 40% economic interest in Cougar, an aviation services provider in Canada. The remaining 75% voting interest and 60% economic interest in Cougar are owned by VIH Aviation Group Ltd. (“VIH”). Due to common ownership of Cougar, the Company considers both Cougar and VIH as related parties. The Company and VIH lease certain aircraft and facilities and from time to time purchase inventory from one another.
Revenues from and payments to related parties for the periods reflected in the table below were as follows (in thousands):
Year Ended December 31, 2025 Year Ended December 31, 2024 Year Ended December 31, 2023
Revenues from related parties $ 29,027  $ 30,895  $ 31,924 
Payments to related parties $ 5,516  $ 10,021  $ 5,253 
As of December 31, 2025 and 2024, receivables from related parties included in accounts receivable, net on the consolidated balance sheets were $1.3 million and $1.1 million, respectively.