Flight Equipment Held for Sale

3 Months Ended

Mar. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

As of March 31, 2025, the Company had 16 aircraft, with a carrying value of $552.3 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 16 aircraft to be completed during 2025. As of March 31, 2025, the Company had an aggregate of $309.5 million in purchase deposits pursuant to sale agreements related to eight of the 16 aircraft, which amount is included in Accrued interest and other payables on the Consolidated Balance Sheets.

During the three months ended March 31, 2025, the Company transferred two aircraft from flight equipment subject to operating lease to flight equipment held for sale and completed the sale of 16 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, 2024, the Company had 30 aircraft, with a carrying value of $951.2 million, which were held for sale and included in Other assets on the Consolidated Balance Sheets.

The following table summarizes the activities of the Company’s flight equipment held for sale for the three months ended March 31, 2025 based on carrying value:


	(in thousands)
Flight equipment held for sale as of December 31, 2024	$	951,181
Flight equipment subject to operating leases reclassified to flight equipment held for sale	60,572
Aircraft sales	(459,436)
Flight equipment held for sale as of March 31, 2025	$	552,317