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Flight Equipment Held for Sale
 6 Months Ended
Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Flight Equipment Held for Sale Flight Equipment Held for Sale
As of June 30, 2024, the Company had 18 aircraft, with a carrying value of $608.9 million, which were classified as held for sale and included in Other assets on the Consolidated Balance Sheets. The Company expects the sale of all 18 aircraft to be completed by the second half of 2025.

During the six months ended June 30, 2024, the Company transferred 21 aircraft from flight equipment subject to operating lease to flight equipment held for sale and completed the sale of 16 aircraft from its held for sale portfolio. The Company ceases recognition of depreciation expense once an aircraft is classified as held for sale. As of December 31, 2023, the Company had 14 aircraft, with a carrying value of $605.1 million, which were held for sale and included in Other assets on the Consolidated Balance Sheets.

The following table summarizes the activities of the Company’s flight equipment held for sale for the six months ended June 30, 2024 based on carrying value:
(in thousands)
Flight equipment held for sale as of December 31, 2023$605,104 
Flight equipment subject to operating leases reclassified to flight equipment held for sale708,772 
Aircraft sales(704,995)
Flight equipment held for sale as of June 30, 2024$608,881