Reportable Segments (Tables)

6 Months Ended

Jun. 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 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		5,977		—		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		6,116		(59)		151,120
Expenses:
Depreciation and amortization expense	22,148		19		—		22,167
Cost of spare parts and equipment sales	21		5,416		—		5,437
Cost of maintenance services	5,671		—		—		5,671
General and administrative	34,035		652		—		34,687
Technical expense	4,518		—		—		4,518
Net finance costs:							—
Interest expense	24,562		—		—		24,562
Total finance costs	24,562		—		—		24,562
Total expenses	90,955		6,087		—		97,042
Income from operations	$	54,108	$	29	$	(59)	$	54,078

Three months ended June 30, 2023	Leasing and  Related Operations		Spare Parts Sales		Eliminations		Total
Revenue:
Lease rent revenue	$	54,416	$	—	$	—	$	54,416
Maintenance reserve revenue	35,415		—		—		35,415
Spare parts and equipment sales	254		4,296		—		4,550
Interest revenue	2,258		—		—		2,258
Gain on sale of leased equipment	4,461		—		—		4,461
Maintenance services revenue	5,849		—		—		5,849
Other revenue	1,888		228		(69)		2,047
Total revenue	104,541		4,524		(69)		108,996
Expenses:
Depreciation and amortization expense	22,472		22		—		22,494
Cost of spare parts and equipment sales	43		3,015		—		3,058
Cost of maintenance services	4,843		—		—		4,843
Write-down of equipment	1,671		—		—		1,671
General and administrative	30,706		1,021		—		31,727
Technical expense	6,676		—		—		6,676
Net finance costs:
Interest expense	19,085		—		—		19,085
Total finance costs	19,085		—		—		19,085
Total expenses	85,496		4,058		—		89,554
Income from operations	$	19,045	$	466	$	(69)	$	19,442

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		9,181		—		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		9,561		(97)		270,203
Expenses:
Depreciation and amortization expense	44,616		37		—		44,653
Cost of spare parts and equipment sales	30		8,112		—		8,142
Cost of maintenance services	11,245		—		—		11,245
Write-down of equipment	261		—		—		261
General and administrative	62,221		2,047		—		64,268
Technical expense	12,773		—		—		12,773
Net finance costs:
Interest expense	47,565		—		—		47,565
Total finance costs	47,565		—		—		47,565
Total expenses	178,711		10,196		—		188,907
Income (loss) from operations	$	82,028	$	(635)	$	(97)	$	81,296

Six months ended June 30, 2023	Leasing and  Related Operations		Spare Parts Sales		Eliminations		Total
Revenue:
Lease rent revenue	$	107,636	$	—	$	—	$	107,636
Maintenance reserve revenue	58,913		—		—		58,913
Spare parts and equipment sales	309		9,293		—		9,602
Interest revenue	4,304		—		—		4,304
Gain on sale of leased equipment	4,328		—		—		4,328
Maintenance services revenue	10,508		—		—		10,508
Other revenue	3,017		326		(103)		3,240
Total revenue	189,015		9,619		(103)		198,531
Expenses:
Depreciation and amortization expense	44,989		54		—		45,043
Cost of spare parts and equipment sales	51		7,506		—		7,557
Cost of maintenance services	8,770		—		—		8,770
Write-down of equipment	1,671		—		—		1,671
General and administrative	57,496		2,062		—		59,558
Technical expense	11,018		—		—		11,018
Net finance costs:
Interest expense	37,474		—		—		37,474
Total finance costs	37,474		—		—		37,474
Total expenses	161,469		9,622		—		171,091
Income (loss) from operations	$	27,546	$	(3)	$	(103)	$	27,440

	Leasing and  Related Operations		Spare Parts Sales		Eliminations		Total
Total assets as of June 30, 2024	$	2,836,303	$	85,353	$	—	$	2,921,656
Total assets as of December 31, 2023	$	2,602,907	$	49,437	$	—	$	2,652,344