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Reportable Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Reportable Segments Reportable Segments
The Company has two reportable segments: (i) Leasing and Related Operations, which involves acquiring and leasing, primarily pursuant to operating leases, commercial aircraft, aircraft engines, and other aircraft equipment, the selective purchase and resale of commercial aircraft engines and other aircraft equipment, and service and maintenance related businesses and (ii) Spare Parts Sales, which involves the purchase and resale of after-market engine parts, whole engines, engine modules, and portable aircraft components.

The Company’s Chief Operating Decision Maker (“CODM”) is Austin Willis, Chief Executive Officer. The CODM evaluates the performance and allocation of resources to each of the segments based on income or loss from operations. While the Company believes there are synergies between the two business segments, the segments are managed separately because each requires different business strategies.

Prior period segment information is presented on a comparable basis to the basis on which current period segment information is presented and reviewed by the CODM.
The following tables present a summary of the reportable segments (in thousands):
Three months ended September 30, 2025Leasing and 
Related Operations		Spare Parts SalesEliminationsTotal
Revenue:
Lease rent revenue$76,552 $— $— $76,552 
Maintenance reserve revenue76,054 — — 76,054 
Spare parts and equipment sales121 9,907 (4,634)5,394 
Interest revenue3,360 — — 3,360 
Gain on sale of leased equipment16,134 — — 16,134 
Maintenance services revenue3,636 — — 3,636 
Other revenue2,344 (30)(55)2,259 
Total revenue178,201 9,877 (4,689)183,389 
Expenses:
Depreciation and amortization expense28,653 9 — 28,662 
Cost of spare parts and equipment sales10 11,253 (4,579)6,684 
Cost of maintenance services5,190 — (55)5,135 
Write-down of equipment10,201 — — 10,201 
General and administrative48,006 1,184 — 49,190 
Technical expense8,352 — — 8,352 
Net finance costs:
Interest expense34,177 — — 34,177 
Loss on debt extinguishment2,963 — — 2,963 
Total finance costs37,140 — — 37,140 
Total expenses137,552 12,446 (4,634)145,364 
Income (loss) from operations$40,649 $(2,569)$(55)$38,025 
Three months ended September 30, 2024Leasing and 
Related Operations		Spare Parts SalesEliminationsTotal
Revenue:
Lease rent revenue$64,905 $— $— $64,905 
Maintenance reserve revenue49,760 — — 49,760 
Spare parts and equipment sales1,227 17,510 (7,874)10,863 
Interest revenue3,412 — — 3,412 
Gain on sale of leased equipment9,519 — — 9,519 
Maintenance services revenue5,948 — — 5,948 
Other revenue1,694 208 (86)1,816 
Total revenue136,465 17,718 (7,960)146,223 
Expenses:
Depreciation and amortization expense23,632 18 — 23,650 
Cost of spare parts and equipment sales158 16,523 (7,820)8,861 
Cost of maintenance services6,456 — (54)6,402 
Write-down of equipment605 — — 605 
General and administrative38,858 1,179 — 40,037 
Technical expense5,151 — — 5,151 
Net finance costs:
Interest expense27,813 — — 27,813 
Total finance costs27,813 — — 27,813 
Total expenses102,673 17,720 (7,874)112,519 
Income (loss) from operations$33,792 $(2)$(86)$33,704 
Nine months ended September 30, 2025Leasing and 
Related Operations		Spare Parts SalesEliminationsTotal
Revenue:
Lease rent revenue$216,559 $— $— $216,559 
Maintenance reserve revenue181,656 — — 181,656 
Spare parts and equipment sales23,576 39,007 (8,595)53,988 
Interest revenue10,943 — — 10,943 
Gain on sale of leased equipment48,153 — — 48,153 
Gain on sale of financial assets378 — — 378 
Maintenance services revenue17,253 — — 17,253 
Other revenue7,682 154 (143)7,693 
Total revenue506,200 39,161 (8,738)536,623 
Expenses:
Depreciation and amortization expense81,196 40 — 81,236 
Cost of spare parts and equipment sales21,285 37,084 (8,260)50,109 
Cost of maintenance services19,413 — (328)19,085 
Write-down of equipment23,768 — — 23,768 
General and administrative143,964 3,375 — 147,339 
Technical expense22,097 — (7)22,090 
Net finance costs:
Interest expense99,840 — — 99,840 
Loss on debt extinguishment2,963 — — 2,963 
Total finance costs102,803 — — 102,803 
Total expenses414,526 40,499 (8,595)446,430 
Income (loss) from operations$91,674 $(1,338)$(143)$90,193 
Nine months ended September 30, 2024Leasing and 
Related Operations		Spare Parts SalesEliminationsTotal
Revenue:
Lease rent revenue$173,652 $— $— $173,652 
Maintenance reserve revenue156,527 — — 156,527 
Spare parts and equipment sales1,520 31,547 (12,730)20,337 
Interest revenue7,965 — — 7,965 
Gain on sale of leased equipment33,148 — — 33,148 
Maintenance services revenue17,956 — — 17,956 
Other revenue6,436 588 (183)6,841 
Total revenue397,204 32,135 (12,913)416,426 
Expenses:
Depreciation and amortization expense68,248 55 — 68,303 
Cost of spare parts and equipment sales188 29,315 (12,500)17,003 
Cost of maintenance services17,771 — (124)17,647 
Write-down of equipment866 — — 866 
General and administrative101,079 3,226 — 104,305 
Technical expense18,030 — (106)17,924 
Net finance costs:
Interest expense75,378 — — 75,378 
Total finance costs75,378 — — 75,378 
Total expenses281,560 32,596 (12,730)301,426 
Income (loss) from operations$115,644 $(461)$(183)$115,000 
Leasing and 
Related Operations		Spare Parts SalesEliminationsTotal
Total assets as of September 30, 2025$3,362,791 $58,556 $— $3,421,347 
Total assets as of December 31, 2024$3,219,856 $77,340 $— $3,297,196