Flight Equipment Held for Sale

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

As of March 31, 2026, the Company had 25 aircraft, with a carrying value of $940.3 million, which were classified as held for sale. The Company expects that the majority of the 25 aircraft currently classified as flight equipment held for sale will be sold during 2026. As of March 31, 2026, the Company had an aggregate of $197.7 million in purchase deposits pursuant to sale agreements related to two of the 25 aircraft, which amount is included in Accrued interest and other payables on the Consolidated Balance Sheets.

As of December 31, 2025, the Company had 12 aircraft, with a carrying value of $529.0 million, which were classified as held for sale.

During the three months ended March 31, 2026, the Company transferred 19 aircraft from flight equipment subject to operating leases to flight equipment held for sale and completed the sale of six aircraft from its held for sale portfolio. The Company ceases recognition of depreciation expense once an aircraft is classified as held for sale.

The following table summarizes the activities of the Company’s flight equipment held for sale for the three months ended March 31, 2026 based on carrying value:


	(in thousands)
Flight equipment held for sale as of December 31, 2025	$	529,016
Flight equipment subject to operating leases reclassified to flight equipment held for sale	628,925
Aircraft sales	(217,611)
Flight equipment held for sale as of March 31, 2026	$	940,330