Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2023

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


Three months ended June 30, 2023	Leasing and Related Operations		Spare Parts Sales		Eliminations		Total
Revenue:
Lease rent revenue	$	54,416	$	—	$	—	$	54,416
Maintenance reserve revenue	35,415		—		—		35,415
Spare parts and equipment sales	254		4,296		—		4,550
Interest revenue	2,258		—		—		2,258
Gain on sale of leased equipment	4,461		—		—		4,461
Other revenue	7,737		228		(69)		7,896
Total revenue	104,541		4,524		(69)		108,996

Expenses:
Depreciation and amortization expense	22,472		22		—		22,494
Cost of spare parts and equipment sales	43		3,015		—		3,058
Write-down of equipment	1,671		—		—		1,671
General and administrative	37,306		1,021		—		38,327
Technical expense	4,919		—		—		4,919
Net finance costs:
Interest expense	19,085		—		—		19,085

Total finance costs	19,085		—		—		19,085
Total expenses	85,496		4,058		—		89,554
Income (Loss) from operations	$	19,045	$	466	$	(69)	$	19,442


Three months ended June 30, 2022	Leasing and Related Operations		Spare Parts Sales		Eliminations		Total
Revenue:
Lease rent revenue	$	36,704	$	—	$	—	$	36,704
Maintenance reserve revenue	24,245		—		—		24,245
Spare parts and equipment sales	49		6,743		—		6,792
Interest revenue	1,865		—		—		1,865
Gain on sale of leased equipment	498		—		—		498
Gain on sale of financial assets	3,116		—		—		3,116
Other revenue	4,826		58		(29)		4,855
Total revenue	71,303		6,801		(29)		78,075

Expenses:
Depreciation and amortization expense	21,585		27		—		21,612
Cost of spare parts and equipment sales	4		7,010		—		7,014
Write-down of equipment	78		—		—		78
General and administrative	19,581		846		—		20,427
Technical expense	3,436		—		—		3,436
Net finance costs:
Interest expense	16,023		—		—		16,023

Total finance costs	16,023		—		—		16,023
Total expenses	60,707		7,883		—		68,590
Income (Loss) from operations	$	10,596	$	(1,082)	$	(29)	$	9,485


Six months ended June 30, 2023	Leasing and Related Operations		Spare Parts Sales		Eliminations		Total
Revenue:
Lease rent revenue	$	107,636	$	—	$	—	$	107,636
Maintenance reserve revenue	58,913		—		—		58,913
Spare parts and equipment sales	309		9,293		—		9,602
Interest revenue	4,304		—		—		4,304
Gain on sale of leased equipment	4,328		—		—		4,328

Other revenue	13,525		326		(103)		13,748
Total revenue	189,015		9,619		(103)		198,531

Expenses:
Depreciation and amortization expense	44,989		54		—		45,043
Cost of spare parts and equipment sales	51		7,506		—		7,557
Write-down of equipment	1,671		—		—		1,671
General and administrative	69,536		2,062		—		71,598
Technical expense	7,748		—		—		7,748
Net finance costs:
Interest expense	37,474		—		—		37,474

Total finance costs	37,474		—		—		37,474
Total expenses	161,469		9,622		—		171,091
Income (Loss) from operations	$	27,546	$	(3)	$	(103)	$	27,440


Six months ended June 30, 2022	Leasing and Related Operations		Spare Parts Sales		Eliminations		Total
Revenue:
Lease rent revenue	$	74,829	$	—	$	—	$	74,829
Maintenance reserve revenue	39,079		—		—		39,079
Spare parts and equipment sales	251		13,171		—		13,422
Interest revenue	3,978		—		—		3,978
Gain on sale of leased equipment	2,796		—		—		2,796
Gain on sale of financial assets	3,116		—		—		3,116
Other revenue	9,525		234		(87)		9,672
Total revenue	133,574		13,405		(87)		146,892

Expenses:
Depreciation and amortization expense	43,367		54		—		43,421
Cost of spare parts and equipment sales	10		11,866		—		11,876
Write-down of equipment	21,195		—		—		21,195
General and administrative	42,387		1,645		—		44,032
Technical expense	9,082		—		—		9,082
Net finance costs:
Interest expense	32,906		—		—		32,906
Total finance costs	32,906		—		—		32,906
Total expenses	148,947		13,565		—		162,512
Loss from operations	$	(15,373)	$	(160)	$	(87)	$	(15,620)


	Leasing and Related Operations		Spare Parts Sales		Eliminations		Total
Total assets as of June 30, 2023	$	2,554,237	$	49,719	$	—	$	2,603,956
Total assets as of December 31, 2022	$	2,530,130	$	45,087	$	—	$	2,575,217