Flight Equipment Held for Sale

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

As of September 30, 2025, the Company had 11 aircraft, with a carrying value of $341.8 million, which were classified as held for sale on the Consolidated Balance Sheets. The Company expects that the majority of the 11 aircraft currently classified as flight equipment held for sale will be sold over the next two quarters. As of September 30, 2025, the Company had an aggregate of $186.9 million in purchase deposits pursuant to sale agreements related to five of the 11 aircraft, which amount is included in Accrued interest and other payables on the Consolidated Balance Sheets.

As of December 31, 2024, the Company had 30 aircraft, with a carrying value of $951.2 million, which were classified as held for sale.

During the nine months ended September 30, 2025, the Company transferred six aircraft from flight equipment subject to operating lease to flight equipment held for sale and completed the sale of 25 aircraft from its held for sale portfolio. The Company ceases recognition of depreciation expense once an aircraft is classified as held for sale.

The following table summarizes the activities of the Company’s flight equipment held for sale for the nine months ended September 30, 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	140,253
Aircraft sales	(749,588)
Flight equipment held for sale as of September 30, 2025	$	341,846