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Flight Equipment Held for Sale | 3 Months Ended
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Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Flight Equipment Held for Sale | Flight Equipment Held for Sale As of March 31, 2025, the Company had 16 aircraft, with a carrying value of $552.3 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 16 aircraft to be completed during 2025. As of March 31, 2025, the Company had an aggregate of $309.5 million in purchase deposits pursuant to sale agreements related to eight of the 16 aircraft, which amount is included in Accrued interest and other payables on the Consolidated Balance Sheets. During the three months ended March 31, 2025, the Company transferred two 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, 2024, the Company had 30 aircraft, with a carrying value of $951.2 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 three months ended March 31, 2025 based on carrying value:
| (in thousands)
Flight equipment held for sale as of December 31, 2024 | $ | 951,181 |
Flight equipment subject to operating leases reclassified to flight equipment held for sale | 60,572 |
Aircraft sales | (459,436) |
Flight equipment held for sale as of March 31, 2025 | $ | 552,317 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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