Investments	9 Months Ended
Sep. 30, 2019
Investments
Investments	Note 11. Investments The Company entered into an agreement with a co-investment vehicle arranged by Napier Park Global Capital (US) LP to participate in two joint ventures and formed Blackbird Capital I, LLC and Blackbird Capital II, LLC for the purpose of investing in commercial aircraft and leasing them to airlines throughout the world. We also provide management services to these joint ventures for a fee based upon aircraft assets under management. The Company’s non-controlling interests in each joint venture is 9.5% and are accounted for as investments under the equity method of accounting. The Company’s investment in these joint ventures was $45.9 million and $40.6 million as of September 30, 2019 and December 31, 2018, respectively, and is recorded in Other assets on the Consolidated Balance Sheets. As of September 30, 2019, the Company’s total unfunded commitment to Blackbird Capital II, LLC was $30.5 million. 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 that will facilitate the continued management and eventual sale of the aircraft assets. 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. The Company manages all of the aircraft in Thunderbolt II’s portfolio. During the nine months ended September 30, 2019, we completed the sale of three aircraft from our operating lease portfolio to Thunderbolt II. We expect the sale of the remaining three aircraft to be completed in 2019. The Company’s investment in Thunderbolt II was $5.4 million as of September 30, 2019 and December 31, 2018, and is recorded in Other assets on the Consolidated Balance Sheets.

Investments

9 Months Ended

Sep. 30, 2019

Note 11. Investments

The Company entered into an agreement with a co-investment vehicle arranged by Napier Park Global Capital (US) LP to participate in two joint ventures and formed Blackbird Capital I, LLC and Blackbird Capital II, LLC for the purpose of investing in commercial aircraft and leasing them to airlines throughout the world. We also provide management services to these joint ventures for a fee based upon aircraft assets under management. The Company’s non-controlling interests in each joint venture is 9.5% and are accounted for as investments under the equity method of accounting. The Company’s investment in these joint ventures was $45.9 million and $40.6 million as of September 30, 2019 and December 31, 2018, respectively, and is recorded in Other assets on the Consolidated Balance Sheets. As of September 30, 2019, the Company’s total unfunded commitment to Blackbird Capital II, LLC was $30.5 million.

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 that will facilitate the continued management and eventual sale of the aircraft assets. 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. The Company manages all of the aircraft in Thunderbolt II’s portfolio. During the nine months ended September 30, 2019, we completed the sale of three aircraft from our operating lease portfolio to Thunderbolt II. We expect the sale of the remaining three aircraft to be completed in 2019. The Company’s investment in Thunderbolt II was $5.4 million as of September 30, 2019 and December 31, 2018, and is recorded in Other assets on the Consolidated Balance Sheets.