CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 466,410	$ 472,554
Restricted cash	3,540	3,550
Flight equipment subject to operating leases	35,880,458	34,168,919
Less accumulated depreciation	(6,826,828)	(5,998,453)
Flight equipment subject to operating leases, net	29,053,630	28,170,466
Net investment in sales-type leases	460,806	433,048
Deposits on flight equipment purchases	1,052,141	761,438
Flight equipment held for sale	529,016	951,181
Other assets	1,318,150	1,485,659
Total assets	32,883,693	32,277,896
Liabilities and Stockholders’ Equity
Accrued interest and other payables	1,012,345	1,272,984
Debt financing, net of discounts and issuance costs	19,730,129	20,209,985
Security deposits on flight equipment leases	622,556	624,597
Maintenance reserves on flight equipment leases	1,477,046	1,180,741
Rentals received in advance	143,631	136,566
Deferred tax liability	1,425,230	1,320,397
Total liabilities	24,410,937	24,745,270
Stockholders’ Equity
Preferred Stock, $0.01 par value; 50,000,000 shares authorized; 900,000 (aggregate liquidation preference of $900,000) shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	9	9
Paid-in capital	3,383,414	3,364,712
Retained earnings	5,092,929	4,147,218
Accumulated other comprehensive (loss)/income	(4,716)	19,573
Total stockholders’ equity	8,472,756	7,532,626
Total liabilities and stockholders’ equity	32,883,693	32,277,896
Class A Common Stock
Stockholders’ Equity
Common stock	1,120	1,114
Class B Non‑Voting Common Stock
Stockholders’ Equity
Common stock	$ 0	$ 0