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Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	64,905					$	—					$	—					$	64,905
Maintenance reserve revenue						49,760						—						—						49,760
Spare parts and equipment sales						1,227						9,636						—						10,863
Interest revenue						3,412						—						—						3,412
Gain on sale of leased equipment						9,519						—						—						9,519
Maintenance services revenue						5,948						—						—						5,948
Other revenue						1,694						208						(86)						1,816
Total revenue						136,465						9,844						(86)						146,223
Expenses:
Depreciation and amortization expense						23,632						18						—						23,650
Cost of spare parts and equipment sales						157						8,704						—						8,861
Cost of maintenance services						6,402						—						—						6,402
Write-down of equipment						605						—						—						605
General and administrative						38,859						1,178						—						40,037
Technical expense						5,151						—						—						5,151
Net finance costs:
Interest expense						27,813						—						—						27,813
Total finance costs						27,813						—						—						27,813
Total expenses						102,619						9,900						—						112,519
Income (loss) from operations						$	33,846					$	(56)					$	(86)					$	33,704

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
Maintenance services revenue						6,199						—						—						6,199
Other revenue						1,975						119						(55)						2,039
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
Cost of maintenance services						5,580						—						—						5,580
Write-down of equipment						719						—						—						719
General and administrative						25,669						876						—						26,545
Technical expense						8,739						—						—						8,739
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

Nine months ended September 30, 2024						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	173,652					$	—					$	—					$	173,652
Maintenance reserve revenue						156,527						—						—						156,527
Spare parts and equipment sales						1,520						18,817						—						20,337
Interest revenue						7,965						—						—						7,965
Gain on sale of leased equipment						33,148						—						—						33,148
Maintenance services revenue						17,956						—						—						17,956
Other revenue						6,436						588						(183)						6,841
Total revenue						397,204						19,405						(183)						416,426
Expenses:
Depreciation and amortization expense						68,248						55						—						68,303
Cost of spare parts and equipment sales						188						16,815						—						17,003
Cost of maintenance services						17,647						—						—						17,647
Write-down of equipment						866						—						—						866
General and administrative						101,079						3,226						—						104,305
Technical expense						17,924						—						—						17,924
Net finance costs:
Interest expense						75,378						—						—						75,378
Total finance costs						75,378						—						—						75,378
Total expenses						281,330						20,096						—						301,426
Income (loss) from operations						$	115,874					$	(691)					$	(183)					$	115,000

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
Maintenance services revenue						16,707						—						—						16,707
Other revenue						4,992						446						(159)						5,279
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
Cost of maintenance services						14,351						—						—						14,351
Write-down of equipment						2,390						—						—						2,390
General and administrative						83,165						2,938						—						86,103
Technical expense						19,755						—						—						19,755
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

						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Total assets as of September 30, 2024						$	2,961,080					$	82,513					$	—					$	3,043,593
Total assets as of December 31, 2023						$	2,602,907					$	49,437					$	—					$	2,652,344

X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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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X

- References

No definition available.

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