Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Reportable Segments

The following tables present a summary of the reportable segments (in thousands):


Three months ended March 31, 2026						Leasing and Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	77,385					$	—					$	—					$	77,385
Maintenance reserve revenue						55,512						—						—						55,512
Spare parts and equipment sales						11,701						17,446						(7,460)						21,687
Interest revenue						2,788						—						—						2,788
Gain on sale of leased equipment						17,959						—						—						17,959
Gain on sale of financial assets						438						—						—						438
Maintenance services revenue						9,769						—						—						9,769
Management and advisory fees						7,895						—						—						7,895
Other revenue						870						171						(128)						913
Total revenue						184,317						17,617						(7,588)						194,346

Expenses:
Depreciation and amortization expense						30,167						11						—						30,178
Cost of spare parts and equipment sales						5,703						16,087						(7,373)						14,417
Cost of maintenance services						8,908						—						(48)						8,860
Write-down of equipment						1,149						—						—						1,149
General and administrative						55,232						1,372						—						56,604
Technical expense						9,727						—						(39)						9,688
Net finance costs:
Interest expense						32,633						—						—						32,633
Loss on debt extinguishment						7,027						—						—						7,027
Total finance costs						39,660						—						—						39,660
Total expenses						150,546						17,470						(7,460)						160,556
Income from operations						$	33,771					$	147					$	(128)					$	33,790


Three months ended March 31, 2025						Leasing and Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	67,739					$	—					$	—					$	67,739
Maintenance reserve revenue						54,859						—						—						54,859
Spare parts and equipment sales						2,298						18,680						(2,738)						18,240
Interest revenue						3,934						—						—						3,934
Gain on sale of leased equipment						4,437						—						—						4,437
Gain on sale of financial assets						378						—						—						378
Maintenance services revenue						5,586						—						—						5,586
Management and advisory fees						1,963						—						—						1,963
Other revenue						501						141						(46)						596
Total revenue						141,695						18,821						(2,784)						157,732

Expenses:
Depreciation and amortization expense						25,005						19						—						25,024
Cost of spare parts and equipment sales						1,507						16,503						(2,687)						15,323
Cost of maintenance services						5,376						—						(47)						5,329
Write-down of equipment						2,109						—						—						2,109
General and administrative						46,795						925						—						47,720
Technical expense						6,234						—						(4)						6,230
Net finance costs:
Interest expense						32,094						—						—						32,094

Total finance costs						32,094						—						—						32,094
Total expenses						119,120						17,447						(2,738)						133,829
Income from operations						$	22,575					$	1,374					$	(46)					$	23,903


						Leasing and Related Operations						Spare Parts Sales						Eliminations						Total
Total assets as of March 31, 2026						$	3,449,864					$	56,321					$	—					$	3,506,185
Total assets as of December 31, 2025						$	3,873,077					$	63,238					$	—					$	3,936,315