FLYEXCLUSIVE INC.
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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FY2025 · Filed Mar 5, 2026
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12. Property and Equipment, Net
- Property and Equipment, Net
Property and equipment, net consisted of the following:
| December 31,2025 | December 31,2024 | |
|---|---|---|
| Transportation equipment | $309,675 | $329,416 |
| Office furniture and equipment | 3,418 | 3,216 |
| Leasehold improvements | 2,417 | 2,328 |
| Construction in progress | 236 | 236 |
| Deposits on transportation equipment | 1,725 | 14,165 |
| 317,471 | 349,361 | |
| Less: Accumulated depreciation | (93,741) | (89,487) |
| Property and equipment, net | $223,730 | $259,874 |
Depreciation expense for property and equipment for the years ended December 31, 2025 and 2024, was$21,402 and$23,740, respectively. The net carrying value of disposals of long-lived assets as of December 31, 2025 and 2024 was$83,093 and$23,449, respectively.
Interest payments on borrowings to acquire aircraft are capitalized for the month of acquisition when the aircraft’s in-service date begins following the 15th of the month. Interest payments for the month of acquisition would be expensed if the aircraft is placed into service before the 15th of the month. There wasno capitalized interest as of December 31, 2025 and December 31, 2024, and capitalized interest was included as a component of construction in progress prior to the equipment’s in-service date.
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