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Reportable Segments (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of the Reportable Segments | The following tables present a summary of the reportable segments (in thousands):
Three months ended March 31, 2024 |  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 52,881 |  |  | $ | — |  |  | $ | — |  |  | $ | 52,881 |
Maintenance reserve revenue |  | 43,870 |  |  | — |  |  | — |  |  | 43,870 |
Spare parts and equipment sales |  | 84 |  |  | 3,204 |  |  | — |  |  | 3,288 |
Interest revenue |  | 2,269 |  |  | — |  |  | — |  |  | 2,269 |
Gain on sale of leased equipment |  | 9,201 |  |  | — |  |  | — |  |  | 9,201 |
Maintenance services revenue |  | 5,227 |  |  | — |  |  | — |  |  | 5,227 |
Other revenue |  | 2,144 |  |  | 241 |  |  | (38) |  |  | 2,347 |
Total revenue |  | 115,676 |  |  | 3,445 |  |  | (38) |  |  | 119,083 |
Expenses: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 22,468 |  |  | 18 |  |  | — |  |  | 22,486 |
Cost of spare parts and equipment sales |  | 9 |  |  | 2,696 |  |  | — |  |  | 2,705 |
Cost of maintenance services |  | 5,574 |  |  | — |  |  | — |  |  | 5,574 |
Write-down of equipment |  | 261 |  |  | — |  |  | — |  |  | 261 |
General and administrative |  | 28,186 |  |  | 1,395 |  |  | — |  |  | 29,581 |
Technical expense |  | 8,255 |  |  | — |  |  | — |  |  | 8,255 |
Net finance costs: |  |  |  |  |  |  |  |
Interest expense |  | 23,003 |  |  | — |  |  | — |  |  | 23,003 |
Total finance costs |  | 23,003 |  |  | — |  |  | — |  |  | 23,003 |
Total expenses |  | 87,756 |  |  | 4,109 |  |  | — |  |  | 91,865 |
Income (loss) from operations |  | $ | 27,920 |  |  | $ | (664) |  |  | $ | (38) |  |  | $ | 27,218 |
Three months ended March 31, 2023 |  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 53,220 |  |  | $ | — |  |  | $ | — |  |  | $ | 53,220 |
Maintenance reserve revenue |  | 23,498 |  |  | — |  |  | — |  |  | 23,498 |
Spare parts and equipment sales |  | 55 |  |  | 4,997 |  |  | — |  |  | 5,052 |
Interest revenue |  | 2,046 |  |  | — |  |  | — |  |  | 2,046 |
Loss on sale of leased equipment |  | (133) |  |  | — |  |  | — |  |  | (133) |
Maintenance services revenue |  | 4,659 |  |  | — |  |  | — |  |  | 4,659 |
Other revenue |  | 1,129 |  |  | 98 |  |  | (34) |  |  | 1,193 |
Total revenue |  | 84,474 |  |  | 5,095 |  |  | (34) |  |  | 89,535 |
Expenses: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 22,517 |  |  | 32 |  |  | — |  |  | 22,549 |
Cost of spare parts and equipment sales |  | 8 |  |  | 4,491 |  |  | — |  |  | 4,499 |
Cost of maintenance services |  | 3,927 |  |  | — |  |  | — |  |  | 3,927 |
General and administrative |  | 26,791 |  |  | 1,040 |  |  | — |  |  | 27,831 |
Technical expense |  | 4,342 |  |  | — |  |  | — |  |  | 4,342 |
Net finance costs: |  |  |  |  |  |  |  |
Interest expense |  | 18,389 |  |  | — |  |  | — |  |  | 18,389 |
Total finance costs |  | 18,389 |  |  | — |  |  | — |  |  | 18,389 |
Total expenses |  | 75,974 |  |  | 5,563 |  |  | — |  |  | 81,537 |
Income (loss) from operations |  | $ | 8,500 |  |  | $ | (468) |  |  | $ | (34) |  |  | $ | 7,998 |
|  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Total assets as of March 31, 2024 |  | $ | 2,583,678 |  |  | $ | 90,784 |  |  | $ | — |  |  | $ | 2,674,462 |
Total assets as of December 31, 2023 |  | $ | 2,602,907 |  |  | $ | 49,437 |  |  | $ | — |  |  | $ | 2,652,344 |

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