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Net Investment in Sales-type Leases

3 Months Ended

Mar. 31, 2024

As of March 31, 2024 and December 31, 2023, the Company had sales-type leases for 13 aircraft and 12 aircraft in its owned fleet, respectively.

Net investment in sales-type leases are included in Other assets in the Company’s Consolidated Balance Sheets based on the present value of fixed payments under the contract and the residual value of the underlying asset, discounted at the rate implicit in the lease. The Company’s investment in sales-type leases consisted of the following (in thousands):


	March 31, 2024		December 31, 2023
Future minimum lease payments to be received	$	315,151	$	285,443
Estimated residual values of leased flight equipment	117,415		108,688
Less: Unearned income	(57,291)		(53,412)
Net Investment in Sales-type Leases	$	375,275	$	340,719

As of March 31, 2024, future minimum lease payments to be received on sales-type leases were as follows:


	(in thousands)
Years ending December 31,
2024 (excluding the three months ended March 31, 2024)	$	25,516
2025	34,022
2026	34,022
2027	34,022
2028	34,022
Thereafter	153,547
Total	$	315,151