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Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of the Reportable Segments

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

Three months ended June 30, 2025						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	72,268					$	—					$	—					$	72,268
Maintenance reserve revenue						50,743						—						—						50,743
Spare parts and equipment sales						21,157						10,421						(1,224)						30,354
Interest revenue						3,649						—						—						3,649
Gain on sale of leased equipment						27,582						—						—						27,582
Maintenance services revenue						8,031						—						—						8,031
Other revenue						2,874						43						(42)						2,875
Total revenue						186,304						10,464						(1,266)						195,502
Expenses:
Depreciation and amortization expense						27,538						12						—						27,550
Cost of spare parts and equipment sales						19,768						9,328						(994)						28,102
Cost of maintenance services						8,847						—						(226)						8,621
Write-down of equipment						11,458						—						—						11,458
General and administrative						49,162						1,267						—						50,429
Technical expense						7,512						—						(4)						7,508
Net finance costs:
Interest expense						33,569						—												33,569
Total finance costs						33,569						—						—						33,569
Total expenses						157,854						10,607						(1,224)						167,237
Income (loss) from operations						$	28,450					$	(143)					$	(42)					$	28,265

Three months ended June 30, 2024						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	55,866					$	—					$	—					$	55,866
Maintenance reserve revenue						62,897						—						—						62,897
Spare parts and equipment sales						209						9,641						(3,664)						6,186
Interest revenue						2,284						—						—						2,284
Gain on sale of leased equipment						14,428						—						—						14,428
Maintenance services revenue						6,781						—						—						6,781
Other revenue						2,598						139						(59)						2,678
Total revenue						145,063						9,780						(3,723)						151,120
Expenses:
Depreciation and amortization expense						22,148						19						—						22,167
Cost of spare parts and equipment sales						21						8,938						(3,522)						5,437
Cost of maintenance services						5,735						—						(64)						5,671
General and administrative						34,035						652						—						34,687
Technical expense						4,596						—						(78)						4,518
Net finance costs:
Interest expense						24,562						—						—						24,562
Total finance costs						24,562						—						—						24,562
Total expenses						91,097						9,609						(3,664)						97,042
Income from operations						$	53,966					$	171					$	(59)					$	54,078

Six months ended June 30, 2025						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	140,007					$	—					$	—					$	140,007
Maintenance reserve revenue						105,602						—						—						105,602
Spare parts and equipment sales						23,455						29,101						(3,962)						48,594
Interest revenue						7,583						—						—						7,583
Gain on sale of leased equipment						32,019						—						—						32,019
Gain on sale of financial assets						378						—						—						378
Maintenance services revenue						13,617						—						—						13,617
Other revenue						5,338						185						(89)						5,434
Total revenue						327,999						29,286						(4,051)						353,234
Expenses:
Depreciation and amortization expense						52,543						31						—						52,574
Cost of spare parts and equipment sales						21,275						25,831						(3,681)						43,425
Cost of maintenance services						14,223						—						(273)						13,950
Write-down of equipment						13,567						—						—						13,567
General and administrative						95,957						2,192						—						98,149
Technical expense						13,746						—						(8)						13,738
Net finance costs:
Interest expense						65,663						—						—						65,663
Total finance costs						65,663						—						—						65,663
Total expenses						276,974						28,054						(3,962)						301,066
Income from operations						$	51,025					$	1,232					$	(89)					$	52,168

Six months ended June 30, 2024						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	108,747					$	—					$	—					$	108,747
Maintenance reserve revenue						106,767						—						—						106,767
Spare parts and equipment sales						293						14,037						(4,856)						9,474
Interest revenue						4,553						—						—						4,553
Gain on sale of leased equipment						23,629						—						—						23,629
Maintenance services revenue						12,008						—						—						12,008
Other revenue						4,742						380						(97)						5,025
Total revenue						260,739						14,417						(4,953)						270,203
Expenses:
Depreciation and amortization expense						44,616						37						—						44,653
Cost of spare parts and equipment sales						30						12,792						(4,680)						8,142
Cost of maintenance services						11,315						—						(70)						11,245
Write-down of equipment						261						—						—						261
General and administrative						62,221						2,047						—						64,268
Technical expense						12,879						—						(106)						12,773
Net finance costs:
Interest expense						47,565						—						—						47,565
Total finance costs						47,565						—						—						47,565
Total expenses						178,887						14,876						(4,856)						188,907
Income (loss) from operations						$	81,852					$	(459)					$	(97)					$	81,296

						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Total assets as of June 30, 2025						$	3,879,760					$	66,685					$	—					$	3,946,445
Total assets as of December 31, 2024						$	3,219,856					$	77,340					$	—					$	3,297,196

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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- References

No definition available.

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