Quarterly report pursuant to Section 13 or 15(d)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH

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CASH, CASH EQUIVALENTS AND RESTRICTED CASH
6 Months Ended
Jun. 30, 2022
Cash and Cash Equivalents [Abstract]  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash Equivalents
As of June 30, 2022 and December 31, 2021, cash equivalents on the condensed consolidated balance sheets were $330.8 million and $408.1 million, respectively, and generally consisted of investments in money market funds, U.S. treasury bills and time deposits.
Interest income from cash equivalents of $0.4 million and $0.5 million were recorded in interest income in the condensed consolidated statements of operations for the three and six months ended June 30, 2022, respectively, and $6 thousand and $18 thousand for the three and six months ended June 30, 2021, respectively.
Restricted Cash
As of June 30, 2022 and December 31, 2021, restricted cash on the condensed consolidated balance sheets represents amounts held by financial institutions to establish a standby letter of credit required by the lessor of certain corporate office space. In addition, as of June 30, 2022, restricted cash also included $25.3 million related to cash received from customers for Air Partner jet cards. Air Partner jet cards do not have an expiration date and are refundable upon demand by the customer. As such, we are contractually and legally restricted from using Air Partner jet card deposits.
A reconciliation of cash and cash equivalents and restricted cash from the condensed consolidated balance sheets to the condensed consolidated statements of cash flows was as follows (in thousands):
June 30, 2022 June 30, 2021
Cash and cash equivalents $ 426,984  $ 160,646 
Restricted cash 27,432  12,077 
Total $ 454,416  $ 172,723