That seems to be a better explaination ... selling shares to pay for a plane, 2 simulators etc. And that is understandable as those things don't come free. After all, company comes to public to raise funds. But to keep saying to pay off old debts WHILE suppose to be buyback and hugely increase O/S is just very confusing and questionable.
This reminds me of one stock I was in 2 years ago that made a recreational off road vehicles in CA. The CEO kept saying buy back shares but o/s kept increasing etc. Gosh I forgot the name of the company. Of course that company went under eventually.