XML 270 R28.htm IDEA: XBRL DOCUMENT v3.25.2
Debt Obligations (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Notes Payable
Debt obligations consisted of the following:
June 30,
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 June 30, 2025, secured by engines, airframes, and loan assets. The facility has a committed amount of $1.0 billion at June 30, 2025, which revolves until the maturity date of October 2029.
$623,000 $693,000 
WEST VIII Series A 2025 term notes payable at a fixed rate of interest of 5.58%, maturing in June 2050, secured by engines, airframes, and loan assets
524,000 — 
WEST VIII Series B 2025 term note payable at a fixed rate of interest of 6.07%, maturing in June 2050, secured by engines, airframes, and loan assets
72,000 — 
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
338,947 356,355 
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
232,050 241,065 
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
32,215 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
8,612 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
220,104 226,572 
WEST V Series B 2020 term notes payable at a fixed rate of interest of 4.21%, maturing in March 2045, secured by engines
30,662 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
6,884 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
182,872 199,846 
WEST IV Series B 2018 term notes payable at a fixed rate of interest of 5.44%, maturing in September 2043, secured by engines
25,011 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
149,453 161,308 
WEST III Series B 2017 term notes payable at a fixed rate of interest of 6.36%, maturing in August 2042, secured by engines
20,067 21,659 
Willis Warehouse Facility LLC (“WWFL”) credit facility at a floating rate of interest of one-month term SOFR, plus 2.25% at June 30, 2025 maturing in May 2029, secured by engines, airframes, and loan assets.
243,521 221,882 
Note payable at a fixed rate of interest of 5.00%, maturing in February 2033, secured by an engine
20,643 20,780 
Note payable at a fixed rate of interest of 4.59%, maturing in November 2032, secured by an engine
21,828 22,094 
Note payable at a fixed rate of interest of 4.23%, maturing in June 2032, secured by an engine
17,662 17,710 
Note payable at a fixed rate of interest of 5.17%, maturing in March 2033, secured by an engine
23,860 — 
Note payable at a fixed rate of interest of 5.91%, maturing in March 2034, secured by an engine
21,007 — 
Note payable at a fixed rate of interest of 5.83%, maturing in April 2034, secured by an engine
19,739 — 
2,834,137 2,292,726 
Less: unamortized debt issuance costs and note discounts(33,494)(28,174)
Total debt obligations$2,800,643 $2,264,552 
Schedule or Debt Maturities
Principal outstanding at June 30, 2025 is expected to be repayable as follows:

Year(in thousands)
2025$204,478 
2026113,397 
2027204,344 
2028255,394 
20291,421,308 
Thereafter635,216 
Total$2,834,137