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SEGMENT INFORMATION - Statement of Income by Segment (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues            
Total revenues $ 676,237   $ 443,594   $ 1,178,317 $ 770,288
Expenses            
Cost of sales 369,258   205,857   617,972 348,661
Operating expenses 34,328   29,099   66,766 54,416
General and administrative 2,442   2,969   5,558 6,652
Acquisition and transaction expenses 4,489   8,019   11,781 14,198
Management fees and incentive allocation to affiliate 0   3,554   0 8,449
Internalization fee to affiliate 0   300,000   0 300,000
Depreciation and amortization 55,236   56,691   114,798 106,611
Asset impairment 0   0   0 962
Total expenses 465,753   606,189   816,875 839,949
Other income (expense)            
Interest expense (63,965)   (55,196)   (126,005) (102,903)
Loss on extinguishment of debt 0   (13,920)   0 (13,920)
Equity in (losses) earnings of unconsolidated entities [1] (5,003)   (694)   (12,617) [2] (1,361) [2]
Other income 27,156   (498)   60,227 136
Total other income (expense) (7,208)   (70,308)   (32,921) (118,048)
Income (loss) before income taxes 203,276   (232,903)   328,521 (187,709)
Provision for (benefit from) income taxes 37,878   (13,033)   60,737 (7,461)
Net income (loss) 165,398 $ 102,386 (219,870) $ 39,622 267,784 (180,248)
Less: Dividends on preferred shares 3,709   8,335   9,824 16,670
Less: Loss on redemption of preferred shares 0   0   6,327 0
Net income (loss) attributable to shareholders 161,689   (228,205)   251,633 (196,918)
Equity Method Investee            
Other income (expense)            
Gain on sale to the 2025 Partnership 34,604   0   45,474 0
Aerospace products revenue            
Revenues            
Total revenues 420,686   245,200   685,111 434,257
MRE Contract revenue            
Revenues            
Total revenues 69,585   0   170,223 0
Lease income            
Revenues            
Total revenues 62,439   70,754   130,879 123,915
Maintenance revenue            
Revenues            
Total revenues 73,104   51,187   122,711 96,977
Asset sales revenue            
Revenues            
Total revenues 47,915   72,433   66,854 111,040
Other revenue            
Revenues            
Total revenues [3] 2,508   4,020   2,539 4,099
Servicing Fees | Equity Method Investee            
Revenues            
Total revenues 2,052       2,600  
Operating Segments            
Other income (expense)            
Other income          
Income (loss) before income taxes          
Operating Segments | Aviation Leasing            
Revenues            
Total revenues 185,966   184,437   322,979 319,747
Expenses            
Cost of sales 51,789   58,969   71,748 90,858
Operating expenses 11,089   8,782   18,515 16,989
General and administrative 0   0   0 0
Acquisition and transaction expenses 577   1,969   3,482 4,730
Management fees and incentive allocation to affiliate     0     0
Internalization fee to affiliate     0     0
Depreciation and amortization 50,423   52,672   105,484 98,756
Asset impairment           962
Total expenses 113,878   122,392   199,229 212,295
Other income (expense)            
Interest expense 0   0   0 0
Loss on extinguishment of debt     0     0
Equity in (losses) earnings of unconsolidated entities (782)   (61)   (1,559) (207)
Other income 26,974   (911)   59,593 (542)
Total other income (expense) 60,796   (972)   103,508 (749)
Income (loss) before income taxes 132,884   61,073   227,258 106,703
Provision for (benefit from) income taxes 26,453   8,293   43,801 11,326
Net income (loss) 106,431   52,780   183,457 95,377
Less: Dividends on preferred shares 0   0   0 0
Less: Loss on redemption of preferred shares         0  
Net income (loss) attributable to shareholders 106,431   52,780   183,457 95,377
Operating Segments | Aviation Leasing | Equity Method Investee            
Other income (expense)            
Gain on sale to the 2025 Partnership 34,604       45,474  
Operating Segments | Aviation Leasing | Aerospace products revenue            
Revenues            
Total revenues 0   0   0 0
Operating Segments | Aviation Leasing | MRE Contract revenue            
Revenues            
Total revenues 0       0  
Operating Segments | Aviation Leasing | Lease income            
Revenues            
Total revenues 62,439   60,759   130,879 111,605
Operating Segments | Aviation Leasing | Maintenance revenue            
Revenues            
Total revenues 73,104   51,187   122,711 96,977
Operating Segments | Aviation Leasing | Asset sales revenue            
Revenues            
Total revenues 47,915   72,433   66,854 111,040
Operating Segments | Aviation Leasing | Other revenue            
Revenues            
Total revenues 2,508   58   2,535 125
Operating Segments | Aerospace Products            
Revenues            
Total revenues 490,271   245,200   855,334 434,257
Expenses            
Cost of sales 317,469   146,888   546,224 257,803
Operating expenses 8,989   6,423   14,676 13,893
General and administrative 0   0   0 0
Acquisition and transaction expenses 1,414   525   2,546 771
Management fees and incentive allocation to affiliate     0     0
Internalization fee to affiliate     0     0
Depreciation and amortization 3,704   938   7,288 1,871
Asset impairment           0
Total expenses 331,576   154,774   570,734 274,338
Other income (expense)            
Interest expense 0   0   0 0
Loss on extinguishment of debt     0     0
Equity in (losses) earnings of unconsolidated entities 714   (633)   827 (1,154)
Other income 0   0   0  
Total other income (expense) 714   (633)   827 (1,154)
Income (loss) before income taxes 159,409   89,793   285,427 158,765
Provision for (benefit from) income taxes 25,827   4,918   45,202 7,457
Net income (loss) 133,582   84,875   240,225 151,308
Less: Dividends on preferred shares 0   0   0 0
Less: Loss on redemption of preferred shares         0  
Net income (loss) attributable to shareholders 133,582   84,875   240,225 151,308
Operating Segments | Aerospace Products | Equity Method Investee            
Other income (expense)            
Gain on sale to the 2025 Partnership 0       0  
Operating Segments | Aerospace Products | Aerospace products revenue            
Revenues            
Total revenues 420,686   245,200   685,111 434,257
Operating Segments | Aerospace Products | MRE Contract revenue            
Revenues            
Total revenues 69,585       170,223  
Operating Segments | Aerospace Products | Lease income            
Revenues            
Total revenues 0   0   0 0
Operating Segments | Aerospace Products | Maintenance revenue            
Revenues            
Total revenues 0   0   0 0
Operating Segments | Aerospace Products | Asset sales revenue            
Revenues            
Total revenues 0   0   0 0
Operating Segments | Aerospace Products | Other revenue            
Revenues            
Total revenues 0   0   0 0
Corporate and Other            
Revenues            
Total revenues 0   13,957   4 16,284
Expenses            
Cost of sales 0   0   0 0
Operating expenses 14,250   13,894   33,575 23,534
General and administrative 2,442   2,969   5,558 6,652
Acquisition and transaction expenses 2,498   5,525   5,753 8,697
Management fees and incentive allocation to affiliate     3,554     8,449
Internalization fee to affiliate     300,000     300,000
Depreciation and amortization 1,109   3,081   2,026 5,984
Asset impairment           0
Total expenses 20,299   329,023   46,912 353,316
Other income (expense)            
Interest expense (63,965)   (55,196)   (126,005) (102,903)
Loss on extinguishment of debt     (13,920)     (13,920)
Equity in (losses) earnings of unconsolidated entities 0   0   0 0
Other income 182   413   634 678
Total other income (expense) (63,783)   (68,703)   (125,371) (116,145)
Income (loss) before income taxes (84,082)   (383,769)   (172,279) (453,177)
Provision for (benefit from) income taxes (14,402)   (26,244)   (28,266) (26,244)
Net income (loss) (69,680)   (357,525)   (144,013) (426,933)
Less: Dividends on preferred shares 3,709   8,335   9,824 16,670
Less: Loss on redemption of preferred shares         6,327  
Net income (loss) attributable to shareholders (73,389)   (365,860)   (160,164) (443,603)
Corporate and Other | Equity Method Investee            
Other income (expense)            
Gain on sale to the 2025 Partnership 0       0  
Corporate and Other | Aerospace products revenue            
Revenues            
Total revenues 0   0   0 0
Corporate and Other | MRE Contract revenue            
Revenues            
Total revenues 0       0  
Corporate and Other | Lease income            
Revenues            
Total revenues 0   9,995   0 12,310
Corporate and Other | Maintenance revenue            
Revenues            
Total revenues 0   0   0 0
Corporate and Other | Asset sales revenue            
Revenues            
Total revenues 0   0   0 0
Corporate and Other | Other revenue            
Revenues            
Total revenues 0   3,962   4 3,974
Corporate and Other | Aerospace Products            
Other income (expense)            
Other income           0
Eliminations            
Revenues            
Total revenues 0       0  
Expenses            
Cost of sales 0       0  
Operating expenses 0       0  
General and administrative 0       0  
Acquisition and transaction expenses 0       0  
Depreciation and amortization 0       0  
Total expenses 0       0  
Other income (expense)            
Interest expense 0       0  
Equity in (losses) earnings of unconsolidated entities (4,935)   $ 0   (11,885) $ 0
Other income 0       0  
Total other income (expense) (4,935)       (11,885)  
Income (loss) before income taxes (4,935)       (11,885)  
Provision for (benefit from) income taxes 0       0  
Net income (loss) (4,935)       (11,885)  
Less: Dividends on preferred shares 0       0  
Less: Loss on redemption of preferred shares         0  
Net income (loss) attributable to shareholders (4,935)       (11,885)  
Eliminations | Equity Method Investee            
Other income (expense)            
Gain on sale to the 2025 Partnership 0       0  
Eliminations | Aerospace products revenue            
Revenues            
Total revenues 0       0  
Eliminations | MRE Contract revenue            
Revenues            
Total revenues 0       0  
Eliminations | Lease income            
Revenues            
Total revenues 0       0  
Eliminations | Maintenance revenue            
Revenues            
Total revenues 0       0  
Eliminations | Asset sales revenue            
Revenues            
Total revenues 0       0  
Eliminations | Other revenue            
Revenues            
Total revenues $ 0       $ 0  
[1] Includes the profit elimination of $(4,935) and $(11,885) for the three and six months ended June 30, 2025, respectively, and $0 and $0 for the three and six months ended June 30, 2024, respectively, for sales to the 2025 Partnership.
[2] Includes the profit elimination of $(11,885) and $0 for the six months ended June 30, 2025 and 2024, respectively, for sales to the 2025 Partnership within the Aerospace Products segment.
[3] Includes servicing fees of $2,052 and $2,600 for the three and six months ended June 30, 2025, respectively, from the 2025 Partnership.