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Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of the Reportable Segments

The following tables present a summary of the reportable segments (in thousands):

Three months ended September 30, 2023						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	53,573					$	—					$	—					$	53,573
Maintenance reserve revenue						37,696						—						—						37,696
Spare parts and equipment sales						111						3,248						—						3,359
Interest revenue						2,106						—						—						2,106
Gain on sale of leased equipment						773						—						—						773
Other revenue						8,174						119						(55)						8,238
Total revenue						102,433						3,367						(55)						105,745
Expenses:
Depreciation and amortization expense						23,069						19						—						23,088
Cost of spare parts and equipment sales						3						2,021						—						2,024
Write-down of equipment						719						—						—						719
General and administrative						33,117						876						—						33,993
Technical expense						6,871						—						—						6,871
Net finance costs:
Interest expense						19,052						—						—						19,052
Total finance costs						19,052						—						—						19,052
Total expenses						82,831						2,916						—						85,747
Income from operations						$	19,602					$	451					$	(55)					$	19,998

Three months ended September 30, 2022						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	39,515					$	—					$	—					$	39,515
Maintenance reserve revenue						20,438						—						—						20,438
Spare parts and equipment sales						520						6,446						—						6,966
Interest revenue						1,811						—						—						1,811
Gain on sale of leased equipment						920						—						—						920
Other revenue						6,958						315						(32)						7,241
Total revenue						70,162						6,761						(32)						76,891
Expenses:
Depreciation and amortization expense						22,032						27						—						22,059
Cost of spare parts and equipment sales						43						4,161						—						4,204
Write-down of equipment						654						—						—						654
General and administrative						21,824						964						—						22,788
Technical expense						2,139						—						—						2,139
Net finance costs:
Interest expense						16,304						—						—						16,304
Total finance costs						16,304						—						—						16,304
Total expenses						62,996						5,152						—						68,148
Income from operations						$	7,166					$	1,609					$	(32)					$	8,743

Nine months ended September 30, 2023						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	161,209					$	—					$	—					$	161,209
Maintenance reserve revenue						96,609						—						—						96,609
Spare parts and equipment sales						420						12,541						—						12,961
Interest revenue						6,409						—						—						6,409
Gain on sale of leased equipment						5,101						—						—						5,101
Gain on sale of financial assets						—						—						—						—
Other revenue						21,699						446						(159)						21,986
Total revenue						291,447						12,987						(159)						304,275
Expenses:
Depreciation and amortization expense						68,058						73						—						68,131
Cost of spare parts and equipment sales						53						9,528						—						9,581
Write-down of equipment						2,390						—						—						2,390
General and administrative						102,653						2,938						—						105,591
Technical expense						14,618						—						—						14,618
Net finance costs:
Interest expense						56,526						—						—						56,526
Total finance costs						56,526						—						—						56,526
Total expenses						244,298						12,539						—						256,837
Income from operations						$	47,149					$	448					$	(159)					$	47,438

Nine months ended September 30, 2022						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	114,344					$	—					$	—					$	114,344
Maintenance reserve revenue						59,517						—						—						59,517
Spare parts and equipment sales						771						19,617						—						20,388
Interest revenue						5,790						—						—						5,790
Gain on sale of leased equipment						3,716						—						—						3,716
Gain on sale of financial assets						3,116						—						—						3,116
Other revenue						16,482						549						(119)						16,912
Total revenue						203,736						20,166						(119)						223,783
Expenses:
Depreciation and amortization expense						65,399						81						—						65,480
Cost of spare parts and equipment sales						53						16,027						—						16,080
Write-down of equipment						21,849						—						—						21,849
General and administrative						64,212						2,608						—						66,820
Technical expense						11,222						—						—						11,222
Net finance costs:
Interest expense						49,209						—						—						49,209
Total finance costs						49,209						—						—						49,209
Total expenses						211,944						18,716						—						230,660
(Loss) Income from operations						$	(8,208)					$	1,450					$	(119)					$	(6,877)

						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Total assets as of September 30, 2023						$	2,551,753					$	50,567					$	—					$	2,602,320
Total assets as of December 31, 2022						$	2,530,130					$	45,087					$	—					$	2,575,217

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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