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Aircraft Under Management | 3 Months Ended
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Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Aircraft Under Management | Aircraft Under Management As of March 31, 2025, the Company managed 57 aircraft across three aircraft management platforms. The Company managed 30 aircraft through the Blackbird investment funds, 26 aircraft through its Thunderbolt platform and one aircraft on behalf of a financial institution. As of March 31, 2025, the Company managed 30 aircraft on behalf of third-party investors through two investment funds, Blackbird I and Blackbird II. These funds invest in commercial jet aircraft and lease them to airlines throughout the world. The Company provides management services to these funds for a fee. As of March 31, 2025, the Company’s non-controlling interests in each fund were 9.5% and are accounted for under the equity method of accounting. The Company’s investments in these funds aggregated $75.6 million and $71.6 million as of March 31, 2025 and December 31, 2024, respectively, and are included in Other assets on the Consolidated Balance Sheets. Additionally, the Company continues to manage aircraft that it sells through its Thunderbolt platform. The Thunderbolt platform facilitates the sale of mid-life aircraft to investors while allowing the Company to continue the management of these aircraft for a fee. As of March 31, 2025, the Company managed 26 aircraft across two separate transactions. The Company has non-controlling interests in two of these entities of approximately 5.0%, which are accounted for under the cost method of accounting. The Company’s total investment in aircraft sold through its Thunderbolt platform was $8.8 million as of each of March 31, 2025 and December 31, 2024 and is included in Other assets on the Consolidated Balance Sheets. During the three months ended March 31, 2025, the Company’s managed platforms received cash insurance settlement proceeds in settlement of certain of their insurance claims related to aircraft detained in Russia. As a result, during the three months ended March 31, 2025, the Company recognized a benefit of $3.4 million related to recoveries of its equity interest in its managed fleet that were written off in 2022, which is included under Recoveries of Russian fleet write-off in its consolidated statement of income and comprehensive income. As of May 5, 2025, two aircraft for which the Company’s managed fleet retain title remain in Russia. Subsequent to March 31, 2025, the Company recognized a benefit of $2.2 million related to recoveries of its equity interest in its managed fleet that were written off in 2022, resulting from additional cash insurance settlement proceeds received by the Company’s managed platforms. This benefit will be included under Recoveries of Russian fleet write-off in the Company’s consolidated statement of income and comprehensive income in the second quarter of 2025. Finally, the Company also manages aircraft for a financial institution for a fee. The Company does not have any equity interest in this financial institution nor ownership of the aircraft.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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