Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of allowance for doubtful accounts
The allowance for doubtful accounts for the periods reflected below were as follows (in thousands):
  December 31,
2023 2022
Balance – beginning of period $ 1,847  $ 1,887 
Write-offs and collections (1,774) (40)
Foreign currency effects 4  — 
Balance – end of period $ 77  $ 1,847 
Schedule of estimated useful life
As of December 31, 2023, the estimated useful life (in years) of the Company’s categories of new property and equipment was as follows:
Aircraft (estimated salvage value at 10%-25% of cost)
 30
Aircraft accessories and spares
5 - 7
Buildings (estimated salvage value at 10% of cost)
 30
Leasehold improvements
Lease term or 10
Other property and equipment
3-15
The following table presents details on the major classes of property and equipment as of (in thousands):
December 31,
2023 2022
Aircraft $ 779,945  $ 784,836 
Land and buildings 175,266  167,820 
Other property and equipment 105,342  107,355 
Construction-in-progress 99,320  35,300 
Property and equipment, at cost $ 1,159,873  $ 1,095,311 
Less: accumulated depreciation (232,107) (180,060)
Property and equipment, net $ 927,766  $ 915,251