The table below summarizes depreciable lives by asset category:
Estimated Useful Life
Aircraft, engines and rotable parts
1,500 – 6,000 flight hours
Vehicles and equipment
3 – 5 years
Buildings
50 years
Leasehold improvements
10 years
Property, plant and equipment, net consist of the following:
As of December 31,
dollars in thousands
20252024
Aircraft$262,013 $185,877 
Less: Accumulated depreciation(48,607)(38,210)
Aircraft, net213,406 147,667 
Vehicles and equipment7,049 5,921 
Buildings1,200 1,054 
Leasehold improvements645 35,504 
Licenses235 235 
Finance lease right-of-use asset117 101 
Capitalized software and development costs35 35 
Construction-in-progress - leasehold improvements— 
Less: Accumulated depreciation(3,873)(6,753)
Leasehold improvements and equipment, net5,408 36,102 
Total property, plant and equipment, net$218,814 $183,769 

Historical Timeline

Fiscal YearFiled
2025Mar 6, 2026Showing above
2024Mar 14, 2025

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.