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Debt Obligations (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Notes Payable | Debt obligations consisted of the following:
| March 31, 2025 |  | December 31, 2024
| (in thousands)
Credit facility at a floating rate of interest of one-month term Secured Overnight Financing Rate (“SOFR”) plus 2.60% at March 31, 2025, secured by engines, airframes, and loan assets. The facility has a committed amount of $1.0 billion at March 31, 2025, which revolves until the maturity date of October 2029. | $ | 644,000 |  |  | $ | 693,000 |
WEST VII Series A 2023 term notes payable at a fixed rate of interest of 8.00%, maturing in October 2048, secured by engines, airframes, and loan assets | 344,279 |  |  | 356,355 |
WEST VI Series A 2021 term notes payable at a fixed rate of interest of 3.10%, maturing in May 2046, secured by engines, airframes, and loan assets | 238,748 |  |  | 241,065 |
WEST VI Series B 2021 term notes payable at a fixed rate of interest of 5.44%, maturing in May 2046, secured by engines, airframes, and loan assets | 33,164 |  |  | 33,486 |
WEST VI Series C 2021 term notes payable at a fixed rate of interest of 7.39%, maturing in May 2046, secured by engines, airframes, and loan assets | 9,355 |  |  | 9,926 |
WEST V Series A 2020 term notes payable at a fixed rate of interest of 3.23%, maturing in March 2045, secured by engines | 223,338 |  |  | 226,572 |
WEST V Series B 2020 term notes payable at a fixed rate of interest of 4.21%, maturing in March 2045, secured by engines | 31,112 |  |  | 31,563 |
WEST V Series C 2020 term notes payable at a fixed rate of interest of 6.66%, maturing in March 2045, secured by engines | 7,513 |  |  | 8,142 |
WEST IV Series A 2018 term notes payable at a fixed rate of interest of 4.75%, maturing in September 2043, secured by engines | 196,768 |  |  | 199,846 |
WEST IV Series B 2018 term notes payable at a fixed rate of interest of 5.44%, maturing in September 2043, secured by engines | 26,916 |  |  | 27,338 |
WEST III Series A 2017 term notes payable at a fixed rate of interest of 4.69%, maturing in August 2042, secured by engines | 157,825 |  |  | 161,308 |
WEST III Series B 2017 term notes payable at a fixed rate of interest of 6.36%, maturing in August 2042, secured by engines | 21,191 |  |  | 21,659 |
Willis Warehouse Facility LLC (“WWFL”) credit facility at a floating rate of interest of one-month term SOFR, plus 2.25% at March 31, 2025 maturing in May 2029, secured by engines, airframes, and loan assets | 218,667 |  |  | 221,882 |
Note payable at a fixed rate of interest of 5.00%, maturing in February 2033, secured by an engine | 20,712 |  |  | 20,780 |
Note payable at a fixed rate of interest of 4.59%, maturing in November 2032, secured by an engine | 21,962 |  |  | 22,094 |
Note payable at a fixed rate of interest of 4.23%, maturing in June 2032, secured by an engine | 17,686 |  |  | 17,710 |
Note payable at a fixed rate of interest of 5.17%, maturing in March 2033, secured by an engine | 24,000 |  |  | — |
Note payable at a fixed rate of interest of 5.91%, maturing in March 2034, secured by an engine | 21,110 |  |  | — |
| 2,258,346 |  |  | 2,292,726 |
Less: unamortized debt issuance costs and note discounts | (26,753) |  |  | (28,174) |
Total debt obligations | $ | 2,231,593 |  |  | $ | 2,264,552 |
Schedule or Debt Maturities | Principal outstanding at March 31, 2025 is expected to be repayable as follows:
Year |  | (in thousands)
2025 |  | $ | 53,415 |
2026 |  | 270,495 |
2027 |  | 192,963 |
2028 |  | 238,982 |
2029 |  | 1,407,088 |
Thereafter |  | 95,403 |
Total |  | $ | 2,258,346 |

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