Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Item 402(v) of Regulation S-K, we are providing the following information regarding the relationship between executive compensation and our financial performance for 2025. As described above, our CEO did not receive any compensation from us prior to the Internalization Date and was compensated solely by our former manager, with all related compensation decisions made by our former manager, until the Internalization; accordingly, we do not include disclosure for 2023 or prior years in this section.

Pay Versus Performance Table

															Value of initial fixed $100 investment based on:
Year			Summary Compensation Table Total for PEO(1)			Compensation Actually Paid to PEO(2)			Average Summary Compensation Table Total for Non-PEO Named Executive Officers(1)			Average Compensation Actually Paid to Non-PEOs Named Executive Officers(2)			Total Shareholder Return			Peer Group Total Shareholder Return(3)			Net Income			Adjusted EBITDA(4)
(a)			(b)			(c)			(d)			(e)			(f)			(g)			(h)			(i)
2025			$5,988,406			$32,255,442			$3,271,338			$13,027,797			$434			$182			$477,494,000			$1,190,922,000
2024			$26,655,142			$33,385,837			$4,949,976			$5,818,953			$315			$116			($32,079,000)			$862,050,000

(1)
Our PEO for 2025 and 2024 was Mr. Adams; our non-PEO NEOs for 2025 were Mr. Moreno, Ms. Kuperus, Ms. Yoon, and Ms. Nam, and our only non-PEO NEO for 2024 was Ms. Nam.

(2)
The amounts in the following table represent each of the amounts deducted and added to the equity award values for our named executive officers for purposes of computing the “compensation actually paid” amounts appearing in columns (c) and (e) of the Pay Versus Performance Table:

Name			Year			Summary Compensation Table Total for PEO			Minus Grant Date Fair Value of Equity Awards Granted During Applicable Year			Plus Year-End Fair Value of Equity Awards Granted During Applicable Year			Plus Year-End Fair Value of Equity Awards Granted in Prior Year That Were Outstanding and Unvested at End of Applicable Year			Plus (Minus) Change in Fair Value of Equity Awards Granted in Prior Year that Vested During Applicable Year			Equals Compensation Actually Paid
Joseph P. Adams Jr.			2025			$5,988,406			$2,647,254			$4,223,027			$25,194,337			($503,074)			$32,255,442
			2024			$26,655,142			$23,714,756			$30,445,451			—			—			$33,385,837
Average non-PEO NEOs			2025			$3,271,338			$1,323,627			$2,111,514			$8,980,033			($11,459)			$13,027,797
			2024			$4,949,976			$3,413,462			$4,282,439			—			—			$5,818,953

(3)
The Dow Jones US Aerospace Index (as reported in the Company’s Form 10-K filing) was used to calculate the Company’s peer group total shareholder return.

(4)
Adjusted EBITDA is a non-GAAP measure. See Reconciliation of Non-GAAP Measures in Annex A for a reconciliation to the most comparable GAAP measure.

Company Selected Measure Name

Adjusted EBITDA

Named Executive Officers, Footnote

(1)
Our PEO for 2025 and 2024 was Mr. Adams; our non-PEO NEOs for 2025 were Mr. Moreno, Ms. Kuperus, Ms. Yoon, and Ms. Nam, and our only non-PEO NEO for 2024 was Ms. Nam.

Peer Group Issuers, Footnote

(3)
The Dow Jones US Aerospace Index (as reported in the Company’s Form 10-K filing) was used to calculate the Company’s peer group total shareholder return.

PEO Total Compensation Amount

$ 5,988,406

$ 26,655,142

PEO Actually Paid Compensation Amount

$ 32,255,442

33,385,837

Adjustment To PEO Compensation, Footnote

(2)
The amounts in the following table represent each of the amounts deducted and added to the equity award values for our named executive officers for purposes of computing the “compensation actually paid” amounts appearing in columns (c) and (e) of the Pay Versus Performance Table:

Name			Year			Summary Compensation Table Total for PEO			Minus Grant Date Fair Value of Equity Awards Granted During Applicable Year			Plus Year-End Fair Value of Equity Awards Granted During Applicable Year			Plus Year-End Fair Value of Equity Awards Granted in Prior Year That Were Outstanding and Unvested at End of Applicable Year			Plus (Minus) Change in Fair Value of Equity Awards Granted in Prior Year that Vested During Applicable Year			Equals Compensation Actually Paid
Joseph P. Adams Jr.			2025			$5,988,406			$2,647,254			$4,223,027			$25,194,337			($503,074)			$32,255,442
			2024			$26,655,142			$23,714,756			$30,445,451			—			—			$33,385,837
Average non-PEO NEOs			2025			$3,271,338			$1,323,627			$2,111,514			$8,980,033			($11,459)			$13,027,797
			2024			$4,949,976			$3,413,462			$4,282,439			—			—			$5,818,953

Non-PEO NEO Average Total Compensation Amount

$ 3,271,338

4,949,976

Non-PEO NEO Average Compensation Actually Paid Amount

$ 13,027,797

5,818,953

Adjustment to Non-PEO NEO Compensation Footnote

(2)
The amounts in the following table represent each of the amounts deducted and added to the equity award values for our named executive officers for purposes of computing the “compensation actually paid” amounts appearing in columns (c) and (e) of the Pay Versus Performance Table:

Name			Year			Summary Compensation Table Total for PEO			Minus Grant Date Fair Value of Equity Awards Granted During Applicable Year			Plus Year-End Fair Value of Equity Awards Granted During Applicable Year			Plus Year-End Fair Value of Equity Awards Granted in Prior Year That Were Outstanding and Unvested at End of Applicable Year			Plus (Minus) Change in Fair Value of Equity Awards Granted in Prior Year that Vested During Applicable Year			Equals Compensation Actually Paid
Joseph P. Adams Jr.			2025			$5,988,406			$2,647,254			$4,223,027			$25,194,337			($503,074)			$32,255,442
			2024			$26,655,142			$23,714,756			$30,445,451			—			—			$33,385,837
Average non-PEO NEOs			2025			$3,271,338			$1,323,627			$2,111,514			$8,980,033			($11,459)			$13,027,797
			2024			$4,949,976			$3,413,462			$4,282,439			—			—			$5,818,953

Compensation Actually Paid vs. Total Shareholder Return

The following chart sets forth the relationship between compensation actually paid to our CEO and other NEOs and Company Total Shareholder Return. It also shows the relationship between Company Total Shareholder Return and Total Shareholder Return for the Dow Jones US Aerospace Index, the Peer Group shown in the Pay versus Performance Table above.

Compensation Actually Paid vs. Net Income

The following chart sets forth the relationship between compensation actually paid to our CEO and other NEOs and Net Income.

Compensation Actually Paid vs. Company Selected Measure

The following chart sets forth the relationship between compensation actually paid to our CEO and other NEOs and Adjusted EBITDA, our Company Selected Measure.

Total Shareholder Return Vs Peer Group

The following chart sets forth the relationship between compensation actually paid to our CEO and other NEOs and Company Total Shareholder Return. It also shows the relationship between Company Total Shareholder Return and Total Shareholder Return for the Dow Jones US Aerospace Index, the Peer Group shown in the Pay versus Performance Table above.

Tabular List, Table

Tabular List of Most Important Performance Measures

 Adjusted EBITDA 

 Earnings per Diluted Share 

 Total Shareholder Return 

Total Shareholder Return Amount

$ 434

315

Peer Group Total Shareholder Return Amount

$ 182

$ 116

Company Selected Measure Amount

1,190,922,000

862,050,000

PEO Name

Mr. Adams

Mr. Adams

Net Income (Loss) Available to Common Stockholders, Basic

$ 477,494,000

$ (32,079,000)

Measure:: 1

Pay vs Performance Disclosure

Name

Adjusted EBITDA

Non-GAAP Measure Description

(4)
Adjusted EBITDA is a non-GAAP measure. See Reconciliation of Non-GAAP Measures in Annex A for a reconciliation to the most comparable GAAP measure.

Measure:: 2

Pay vs Performance Disclosure

Name

Earnings per Diluted Share

Measure:: 3

Pay vs Performance Disclosure

Name

Total Shareholder Return

PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (2,647,254)

(23,714,756)

PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

4,223,027

30,445,451

PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

25,194,337

0

PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(503,074)

0

Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(1,323,627)

(3,413,462)

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

2,111,514

4,282,439

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

8,980,033

0

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (11,459)

$ 0