| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Operating activities: | |||||||||
Net loss | |||||||||
-16,658 | -8,081 | 7,399 | 1,221 | 6,437 | -11,294 | 8,343 | 5,189 | -1,450 | 1,648 |
Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||||
Net loss/(gain) on disposal of assets | |||||||||
- | - | 791 | 2,149 | - | - | - | - | - | - |
Net gain on disposal of assets | |||||||||
326 | -3,408 | - | - | 6,790 | 3,147 | 3,808 | - | - | - |
Net loss on sales-type finance leases | |||||||||
-170 | 0 | 297 | 1,216 | 5,179 | 0 | - | - | - | - |
Non-cash interest | |||||||||
- | - | - | - | - | 950 | 1,113 | 1,667 | 1,338 | 1,270 |
Non-cash income | |||||||||
0 | 42 | 0 | - | - | - | - | - | - | 8 |
Net gain on disposal of assets | |||||||||
- | - | - | - | - | - | - | 1,486 | 1,371 | 416 |
Depreciation | |||||||||
11,587 | 12,637 | 12,025 | 9,139 | 9,062 | 7,299 | 7,363 | 6,126 | 5,598 | 7,395 |
Amortization | |||||||||
0 | 61 | 0 | - | - | - | - | - | - | - |
Provision for impairment in value of aircraft | |||||||||
31,007 | 2,971 | 1,002 | 1,226 | 1,282 | 18,736 | 0 | - | - | - |
Bad debt expense | |||||||||
2,908 | 0 | - | - | - | - | - | - | - | - |
Non-cash interest | |||||||||
3,376 | 1,615 | 1,012 | 879 | 1,394 | - | - | - | - | - |
Settlement loss | |||||||||
0 | -2,527 | - | - | - | - | - | - | - | - |
Amount of loss recognized in settlement of merger. | |||||||||
- | - | 0 | - | - | - | - | - | - | - |
Provision for bad debts, net of recoveries | |||||||||
- | - | - | - | - | - | - | - | - | 75 |
Deferred income taxes | |||||||||
-4,895 | -1,390 | -4,296 | 626 | 3,582 | -5,952 | 4,321 | 2,324 | -672 | 778 |
Derivative valuations | |||||||||
-154 | 0 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | |||||||||
Accounts receivable | |||||||||
5,962 | 537 | -1,000 | -400 | 2,363 | 498 | 96 | 260 | 928 | -577 |
Finance leases receivable | |||||||||
-263 | 133 | 510 | 668 | 44 | -1,895 | -246 | -60 | -225 | 0 |
Office lease right of use | |||||||||
948 | 0 | - | - | - | - | - | - | - | - |
Favorable office lease acquired | |||||||||
-863 | 0 | - | - | - | - | - | - | - | - |
Prepaid expenses and other | |||||||||
-551 | 457 | 123 | 10 | -168 | -486 | 772 | 221 | 152 | 2,380 |
Taxes receivable | |||||||||
5 | -22 | 0 | - | 25 | 0 | -2 | 0 | -6 | 7 |
Accounts payable and accrued expenses | |||||||||
-277 | 1,802 | -572 | -152 | -359 | -132 | -23 | 741 | -194 | -18 |
Accrued payroll | |||||||||
85 | -14 | 0 | - | - | - | - | - | - | - |
Accrued interest on notes payable | |||||||||
310 | -147 | 188 | -35 | -155 | 163 | -38 | -407 | 349 | 17 |
Office lease liability | |||||||||
336 | 0 | - | - | - | - | - | - | - | - |
Maintenance reserves and accrued costs | |||||||||
-14,016 | 3,552 | -2,171 | 698 | 3,977 | -1,313 | -9,128 | 9,541 | -889 | -3,050 |
Security deposits | |||||||||
0 | -4 | -232 | 780 | -745 | -2,167 | -525 | 1,447 | 1,048 | -799 |
Unearned revenue | |||||||||
-32 | 827 | 608 | - | - | - | - | - | - | - |
Unearned revenue | |||||||||
- | - | - | -481 | -315 | -210 | 105 | -194 | 19 | 454 |
Income taxes payable | |||||||||
-322 | -677 | 329 | 123 | 0 | - | -19 | -1 | 20 | -5 |
Net cash provided by operating activities | |||||||||
- | - | - | - | 10,556 | 5,235 | 6,872 | - | - | - |
Net cash provided by operating activities | |||||||||
8,169 | 17,941 | 14,570 | 11,344 | - | - | - | 24,916 | 2,909 | 4,624 |
Investing activities: | |||||||||
Proceeds from sale of aircraft and aircraft engines held for lease, net of re-sale fees | |||||||||
1,702 | 11,688 | 12,741 | 2,918 | 11,100 | 15,854 | 10,018 | 5,322 | 2,101 | 2,789 |
Proceeds from sale of assets held for sale, net of re-sale fees | |||||||||
15,107 | 4,945 | 193 | - | - | - | - | - | - | - |
Proceeds from sale of assets held for sale, net of re-sale fees | |||||||||
- | - | - | 3,422 | 3,616 | 312 | 945 | 0 | - | - |
Investment in direct financing leases | |||||||||
- | - | 7,614 | - | - | - | - | - | - | - |
Proceeds from insurance | |||||||||
- | - | - | 18,886 | 0 | - | - | - | - | 0 |
Purchases of aircraft and aircraft engines | |||||||||
0 | 22,844 | 32,063 | 0 | - | - | - | - | - | - |
Proceeds from sale of securities | |||||||||
121 | 0 | - | - | - | - | - | - | - | - |
Acquisition of JHC, net of cash acquired | |||||||||
0 | 2,875 | 0 | - | - | - | - | - | - | - |
Purchases of aircraft and aircraft engines | |||||||||
- | - | - | 54,357 | - | - | - | - | - | - |
Proceeds from insurance | |||||||||
- | - | - | - | - | - | - | - | 1,699 | - |
Investment in aircraft parts and acquisition costs | |||||||||
- | - | - | - | 1,333 | 74,529 | 24,965 | 30,632 | 7,521 | 9,098 |
Net cash (used in)/provided by investing activities | |||||||||
- | - | - | - | 13,383 | -58,362 | -14,001 | - | - | - |
Net cash provided by/(used in) investing activities | |||||||||
16,930 | -9,085 | -26,743 | -29,129 | - | - | - | -25,310 | -3,720 | -6,309 |
Financing activities: | |||||||||
Issuance of notes payable - MUFG Credit Facility | |||||||||
5,984 | 21,000 | 35,900 | 31,300 | 0 | 71,100 | 19,000 | 19,900 | 6,500 | 13,000 |
Repayment of notes payable - MUFG Credit Facility | |||||||||
44,300 | 32,600 | 12,000 | 31,600 | 23,000 | 15,200 | 9,300 | 17,300 | 4,300 | - |
Issuance of notes payable - Nord Term Loans | |||||||||
44,310 | 0 | - | 19,609 | 0 | - | - | - | - | - |
Repayment of notes payable - UK LLC SPE Financing | |||||||||
9,211 | 4,300 | - | - | - | - | - | - | - | - |
Repayment of notes payable - Nord Term Loans | |||||||||
13,395 | 0 | 4,111 | 1,986 | 0 | - | - | - | - | - |
Repayments of Credit Facility | |||||||||
- | - | - | - | - | - | - | - | - | 3,500 |
Debt issuance costs | |||||||||
6,527 | 70 | 1,152 | 65 | 59 | 3,045 | 2,055 | 1,605 | 0 | - |
Settlement of interest rate swap | |||||||||
75 | 0 | - | - | - | - | - | - | - | - |
Net cash provided by/(used in) financing activities | |||||||||
- | - | - | - | -23,059 | 52,854 | 7,645 | - | - | - |
Repayments of Subordinated Notes | |||||||||
- | - | - | - | - | - | - | - | 2,343 | 7,118 |
Net cash used in financing activities | |||||||||
-23,215 | -15,970 | 18,635 | 17,258 | - | - | - | 995 | -143 | 2,381 |
Net increase/(decrease) in cash, cash equivalents and restricted cash | |||||||||
1,884 | -7,115 | - | - | - | - | - | - | - | - |
Net (decrease)/increase in cash and cash equivalents | |||||||||
- | - | 6,463 | -526 | 880 | -272 | 515 | 601 | -953 | 696 |