Flight Equipment Held for Sale

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Flight Equipment Held for Sale

Flight Equipment Held for Sale

As of December 31, 2024, the Company had 30 aircraft, with a carrying value of $951.2 million, which were classified as held for sale and included in Other assets on the Consolidated Balance Sheets. The Company expects the sale of all 30 aircraft to be completed during 2025. During the year ended December 31, 2024, the Company received an aggregate of $352.3 million in purchase deposits pursuant to sale agreements related to nine of the 30 aircraft, which amount is included in Accrued interest and other payables on the Consolidated Balance Sheets.

During the year ended December 31, 2024, the Company transferred 55 aircraft from flight equipment subject to

operating lease to flight equipment held for sale and completed the sale of 39 aircraft from its held for sale portfolio. The Company

ceases recognition of depreciation expense once an aircraft is classified as held for sale. As of December 31, 2023, the Company had 14 aircraft, with a carrying value of $605.1 million, which were held for sale and included in Other assets on the Consolidated Balance Sheets. During the year ended December 31, 2023, the Company received an aggregate of $305.8 million in purchase deposits pursuant to sale agreements related to six of the 14 aircraft, which amount is included in Accrued interest and other payables on the Consolidated Balance Sheets.

The following table summarizes the activities of the Company’s flight equipment held for sale for the year ended December 31, 2024 based on carrying value:

	(in thousands)
Flight equipment held for sale as of December 31, 2023	$	605,104
Flight equipment subject to operating leases reclassified to flight equipment held for sale	1,821,084
Aircraft sales	(1,475,007)
Flight equipment held for sale as of December 31, 2024	$	951,181