Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events

Subsequent Events

Note 10.Subsequent Events

On August 1, 2018, we entered into an agreement to sell 18 aircraft to Thunderbolt Aircraft Lease Limited II (“Thunderbolt II”), an asset-backed securities platform which will facilitate the sale and continued management of aircraft assets to investors. The Company’s non-controlling interest in Thunderbolt II is 5.1% and it is accounted for as an investment under the cost method of accounting. All of the aircraft in Thunderbolt II's portfolio will be managed by the Company. As of August 1, 2018, all 18 aircraft, with a carrying value of $546.8 million, were classified as held for sale and included in flight equipment subject to operating leases on the Consolidated Balance Sheet. We expect a majority of the aircraft sales to be completed by the end of the fourth quarter of 2018.

On August 8, 2018, our board of directors approved a quarterly cash dividend of $0.10 per share on our outstanding common stock. The dividend will be paid on October 5, 2018 to holders of record of our common stock as of September 14, 2018.