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Reportable Segments (Tables)

9 Months Ended

Sep. 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 September 30, 2025						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	76,552					$	—					$	—					$	76,552
Maintenance reserve revenue						76,054						—						—						76,054
Spare parts and equipment sales						121						9,907						(4,634)						5,394
Interest revenue						3,360						—						—						3,360
Gain on sale of leased equipment						16,134						—						—						16,134
Maintenance services revenue						3,636						—						—						3,636
Other revenue						2,344						(30)						(55)						2,259
Total revenue						178,201						9,877						(4,689)						183,389
Expenses:
Depreciation and amortization expense						28,653						9						—						28,662
Cost of spare parts and equipment sales						10						11,253						(4,579)						6,684
Cost of maintenance services						5,190						—						(55)						5,135
Write-down of equipment						10,201						—						—						10,201
General and administrative						48,006						1,184						—						49,190
Technical expense						8,352						—						—						8,352
Net finance costs:
Interest expense						34,177						—						—						34,177
Loss on debt extinguishment						2,963						—						—						2,963
Total finance costs						37,140						—						—						37,140
Total expenses						137,552						12,446						(4,634)						145,364
Income (loss) from operations						$	40,649					$	(2,569)					$	(55)					$	38,025

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						17,510						(7,874)						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						17,718						(7,960)						146,223
Expenses:
Depreciation and amortization expense						23,632						18						—						23,650
Cost of spare parts and equipment sales						158						16,523						(7,820)						8,861
Cost of maintenance services						6,456						—						(54)						6,402
Write-down of equipment						605						—						—						605
General and administrative						38,858						1,179						—						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						102,673						17,720						(7,874)						112,519
Income (loss) from operations						$	33,792					$	(2)					$	(86)					$	33,704

Nine months ended September 30, 2025						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	216,559					$	—					$	—					$	216,559
Maintenance reserve revenue						181,656						—						—						181,656
Spare parts and equipment sales						23,576						39,007						(8,595)						53,988
Interest revenue						10,943						—						—						10,943
Gain on sale of leased equipment						48,153						—						—						48,153
Gain on sale of financial assets						378						—						—						378
Maintenance services revenue						17,253						—						—						17,253
Other revenue						7,682						154						(143)						7,693
Total revenue						506,200						39,161						(8,738)						536,623
Expenses:
Depreciation and amortization expense						81,196						40						—						81,236
Cost of spare parts and equipment sales						21,285						37,084						(8,260)						50,109
Cost of maintenance services						19,413						—						(328)						19,085
Write-down of equipment						23,768						—						—						23,768
General and administrative						143,964						3,375						—						147,339
Technical expense						22,097						—						(7)						22,090
Net finance costs:
Interest expense						99,840						—						—						99,840
Loss on debt extinguishment						2,963						—						—						2,963
Total finance costs						102,803						—						—						102,803
Total expenses						414,526						40,499						(8,595)						446,430
Income (loss) from operations						$	91,674					$	(1,338)					$	(143)					$	90,193

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						31,547						(12,730)						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						32,135						(12,913)						416,426
Expenses:
Depreciation and amortization expense						68,248						55						—						68,303
Cost of spare parts and equipment sales						188						29,315						(12,500)						17,003
Cost of maintenance services						17,771						—						(124)						17,647
Write-down of equipment						866						—						—						866
General and administrative						101,079						3,226						—						104,305
Technical expense						18,030						—						(106)						17,924
Net finance costs:
Interest expense						75,378						—						—						75,378
Total finance costs						75,378						—						—						75,378
Total expenses						281,560						32,596						(12,730)						301,426
Income (loss) from operations						$	115,644					$	(461)					$	(183)					$	115,000

						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
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

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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