v3.25.4
Maintenance rights and lease premium, net
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Maintenance rights and lease premium, net Maintenance rights and lease premium, net
Maintenance rights and lease premium, net consisted of the following as of December 31, 2025 and 2024:
As of December 31,
20252024
Maintenance rights$1,336,440 $1,669,742 
Lease premium, net340,967 460,251 
$1,677,407 $2,129,993 
Movements in maintenance rights during the years ended December 31, 2025 and 2024 were as follows:
Year Ended December 31,
20252024
Maintenance rights at beginning of period$1,669,742 $2,099,513 
EOL and MR contract maintenance rights expense(71,103)(144,726)
MR contract maintenance rights write-off due to maintenance liability release(19,544)(38,525)
EOL contract maintenance rights write-off due to cash receipt(67,412)(159,682)
EOL and MR contract maintenance rights write-off due to sale of aircraft(175,243)(86,838)
Maintenance rights at end of period$1,336,440 $1,669,742 
The following tables present details of lease premium assets and related accumulated amortization as of December 31, 2025 and 2024:
As of December 31, 2025
Gross carrying
amount		Accumulated
amortization		Net carrying
amount
Lease premium$790,042 $(449,075)$340,967 
As of December 31, 2024
Gross carrying
amount		Accumulated
amortization		Net carrying
amount
Lease premium$907,995 $(447,744)$460,251 
Lease premium assets that are fully amortized are removed from the gross carrying amount and accumulated amortization columns in the tables above. The weighted average amortization period remaining for lease premium is 4.1 years.
During the years ended December 31, 2025, 2024 and 2023, we recorded amortization expense for lease premium assets of $115 million, $161 million and $178 million, respectively.
As of December 31, 2025, the estimated future amortization expense for lease premium assets was as follows:
Estimated amortization expense
2026$103,099 
202786,966 
202872,877 
202937,128 
203025,740 
Thereafter15,157 
$340,967 
Other intangibles, net
Other intangibles consisted of the following as of December 31, 2025 and 2024:
As of December 31,
20252024
Customer relationships, net$113,706 $134,883 
Other intangible assets4,083 4,783 
$117,789 $139,666 
The following tables present details of customer relationships and related accumulated amortization as of December 31, 2025 and 2024:
As of December 31, 2025
Gross carrying
amount		Accumulated
amortization		Net carrying
amount
Customer relationships$360,000 $(246,294)$113,706 
As of December 31, 2024
Gross carrying
amount		Accumulated
amortization		Net carrying
amount
Customer relationships$360,000 $(225,117)$134,883 
During the years ended December 31, 2025, 2024 and 2023, we recorded annual amortization expense for customer relationships of $21 million. The weighted average amortization period remaining for customer relationships is 5.4 years.
As of December 31, 2025, the estimated future amortization expense for customer relationships for the next five years is $21 million per year and $8 million thereafter.