Quarterly report [Sections 13 or 15(d)]

RELATED PARTY TRANSACTIONS

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RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
The Company owns a 25% voting interest and a 40% economic interest in Cougar Helicopters Inc. (“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):
Three Months Ended March 31,
2026 2025
Revenues from related parties $ 7,608  $ 6,856 
Payments to related parties $ 1,294  $ 1,647 
As of March 31, 2026 and December 31, 2025, receivables from related parties included in accounts receivable, net on the condensed consolidated balance sheets were $1.5 million and $1.3 million, respectively.