Aersale Corporation (ASLE): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de l'aviation, Aersale Corporation (ASLE) émerge comme un acteur pivot, transformant le cycle de vie des avions grâce à un remarquable remarquable, des services techniques et des solutions durables. En combler stratégiquement l'écart entre les actifs des avions vieillissants et les demandes du marché, cette entreprise a conçu un modèle commercial sophistiqué qui respire une nouvelle vie à l'infrastructure aéronautique, offrant des alternatives rentables aux stratégies traditionnelles d'approvisionnement et de maintenance.

Aersale Corporation (ASLE) - Modèle commercial: partenariats clés

Fabricants et bailleurs d'aéronefs commerciaux

Aersale maintient des partenariats stratégiques avec les principaux fabricants d'avions et bailleurs, notamment:

Partenaire	Détails du partenariat	Valeur estimée
Boeing	Approvisionnement en composants d'avions et services MRO	47,3 millions de dollars en 2023
Airbus	Réparation des composants et alimentation des pièces	35,6 millions de dollars en 2023

Provideurs de services d'entretien, de réparation et de révision (MRO)

Aersale collabore avec plusieurs fournisseurs de services MRO dans le monde:

• AAR Corp
• Standardaero
• ST Ingénierie

Partenaire MRO	Portée du service	Valeur de collaboration annuelle
AAR Corp	Entretien des moteurs et de la cellule	28,9 millions de dollars en 2023

Distributeurs mondiaux de parties d'aviation

Les partenariats de distribution clés comprennent:

• Ventes des avions mondiaux
• Solutions mondiales d'aviation
• Distributeurs aérospatiaux internationaux

Distributeur	Régions de distribution	Valeur de distribution annuelle des pièces
Ventes des avions mondiaux	Amérique du Nord, Europe	22,7 millions de dollars en 2023

Institutions financières et sociétés de location

Les partenariats financiers d'Aersale comprennent:

• Wells Fargo Aviation Finance
• CIT Aerospace
• Capital de l'aviation SMBC

Partenaire financier	Type de partenariat	Valeur de financement
Wells Fargo Aviation Finance	Location et financement d'avions	150 millions de dollars de crédits

Technologie aérospatiale et fournisseurs de composants

Réseau de partenariat technologique et composant:

• Honeywell Aerospace
• Moteurs de safran
• Collins Aerospace

Partenaire technologique	Spécialisation des composants	Valeur de collaboration annuelle
Honeywell Aerospace	Composants avioniques et moteurs	41,2 millions de dollars en 2023

Aersale Corporation (ASLE) - Modèle d'entreprise: activités clés

Ventes de pièces et remarketing d'avions

Aersale a généré 178,7 millions de dollars de revenus totaux pour l'exercice 2022, avec des contributions importantes des activités de vente et de remarketing de pièces d'avion.

Catégorie de produits	Contribution des revenus
Ventes de pièces d'avion	87,3 millions de dollars
Services de remarketing	45,6 millions de dollars

Service technique et réparation des composants

Aersale maintient un portefeuille de services techniques complet avec des capacités de réparation spécialisées.

• Installations de réparation de composants situées dans plusieurs emplacements mondiaux
• Stations de réparation certifiées FAA et EASA
• Revenus de réparation des composants annuels: 52,4 millions de dollars

Rénovation du moteur et des composants d'avion

La société exploite des installations dédiées de rénovation de moteur et de composants avec une expertise technique spécialisée.

Type de moteur	Capacité de rénovation annuelle
Moteurs CFM56	45 unités
Moteurs à sauter	22 unités

Gestion des actifs et location

Aersale gère un portefeuille diversifié d'actifs d'aviation avec des opérations de location stratégique.

• Valeur du portefeuille total des actifs: 276,5 millions de dollars
• Revenus de location d'avions: 33,2 millions de dollars en 2022
• Le portefeuille de location comprend 37 avions commerciaux

Services d'ingénierie et de conseil technique

Aersale fournit des services spécialisés d'ingénierie et de conseil technique aux clients mondiaux de l'aviation.

Catégorie de service	Revenus annuels
Conseil technique	15,6 millions de dollars
Services d'ingénierie	11,9 millions de dollars

Aersale Corporation (ASLE) - Modèle commercial: Ressources clés

Inventaire étendu des pièces et composants d'avions

Au quatrième trimestre 2023, Aersale Corporation maintient un inventaire de pièces d'avion d'une valeur de 87,3 millions de dollars. L'inventaire de l'entreprise comprend:

• Environ 15 000 composants d'aéronefs uniques
• Pièces compatibles avec les plates-formes d'avions Boeing et Airbus
• Inventaire couvrant plusieurs générations d'avions

Catégorie d'inventaire	Valeur totale	Quantité
Composants de cellule	42,5 millions de dollars	6 500 unités
Pièces de moteur	31,2 millions de dollars	4 800 unités
Systèmes avioniques	13,6 millions de dollars	3 700 unités

Expertise technique avancée et capacités d'ingénierie

Aersale emploie 127 professionnels de l'ingénierie spécialisés avec une expérience moyenne de l'industrie de 18 ans.

• Certification de la station de réparation de la FAA
• Easa Partie 145 Organisation de maintenance Approbation
• 5 centres de recherche et développement en génie dédié

Réseau mondial de distribution et de logistique

Coules d'infrastructure de distribution 6 emplacements internationaux avec positionnement stratégique en Amérique du Nord, en Europe et en Asie.

Emplacement	Entrepôt	Capacité logistique annuelle
Miami, États-Unis	45 000 pieds carrés	8 500 expéditions de composants
Amsterdam, Pays-Bas	38 000 pieds carrés	6 200 envois composants
Singapour	32 000 pieds carrés	5 100 envois composants

Installations de réparation et de rénovation spécialisées

Aersale fonctionne 4 installations de réparation et d'entretien dédiées avec une superficie totale de 185 000 pieds carrés.

Propriété intellectuelle et certifications techniques

Le portefeuille de propriété intellectuelle comprend:

• 12 brevets techniques enregistrés
• 7 méthodologies de réparation et d'entretien propriétaires
• Investissement annuel de R&D de 3,2 millions de dollars

Type de certification	Autorité de délivrance	Période de validité
Station de réparation de la FAA	Administration fédérale de l'aviation	Valide jusqu'en 2025
Easa Partie 145	Agence de sécurité aérienne de l'Union européenne	Valide jusqu'en 2024

Aersale Corporation (ASLE) - Modèle d'entreprise: propositions de valeur

Solutions rentables pour la maintenance des avions et le remplacement des pièces

Aersale a déclaré 186,3 millions de dollars de revenus totaux pour l'exercice 2023, avec une partie importante dérivée des services de maintenance, de réparation et de refonte (MRO). L'entreprise propose des stratégies de réduction des coûts:

Catégorie de service	Économies de coûts moyens
Réparation des composants d'avion	35 à 45% par rapport à la tarification OEM
Remplacement des pièces	27-38% inférieur aux coûts des nouveaux composants
Support technique	Réduction de 20 à 30% des frais de maintenance

Gestion du cycle de vie étendu pour les avions vieillissants

Aersale se spécialise dans l'extension des cycles de vie opérationnels des avions grâce à des stratégies de gestion complètes:

• Géré 127 avions dans diverses étapes du cycle de vie en 2023
• Fourni des solutions techniques pour les avions âgés de 15 à 30 ans
• Atteint 92% de taux d'extension de durée de vie des avions

Composants et pièces d'aéronefs certifiés de haute qualité

Métriques de certification de qualité pour 2023:

Norme de certification	Pourcentage de conformité
Certification FAA	100%
Certification EASA	98.7%
Systèmes de gestion de la qualité	99.5%

Aviation durable à travers des pièces réutiliser et recycler

Performance sur la durabilité en 2023:

• Recyclé 3 276 composants d'avions
• Empreinte carbone réduite d'environ 22 500 tonnes métriques
• A mis en œuvre des pratiques d'économie circulaire dans 87% des opérations

Soutien technique complet et services de conseil

Métriques de support technique pour 2023:

Catégorie de service	Total des heures de service
Conseil technique	24 675 heures
Support technique sur place	18 432 heures
Assistance technique à distance	12 987 heures

Aersale Corporation (ASLE) - Modèle d'entreprise: relations avec les clients

Partenariats contractuels à long terme

Aersale Corporation maintient 87 contrats de maintenance et de soutien actifs à long terme avec des compagnies aériennes commerciales et des organisations militaires au quatrième trimestre 2023. La durée moyenne du contrat est de 5,3 ans, avec une valeur de contrat totale de 214,6 millions de dollars.

Type de contrat	Nombre de contrats	Valeur totale du contrat
Contrats de compagnies aériennes commerciales	53	132,4 millions de dollars
Contrats de soutien militaire	34	82,2 millions de dollars

Équipes de support technique dédiées

Aersale exploite 22 centres de soutien technique dédiés dans le monde, avec 167 personnel de soutien technique spécialisé. Le temps de réponse moyen pour le support technique est de 2,1 heures.

• Centres de soutien en Amérique du Nord: 8
• Centres de soutien en Europe: 7
• Centres de soutien en Asie-Pacifique: 7

Solutions personnalisées pour les besoins individuels des clients

En 2023, Aersale a développé 43 solutions d'ingénierie et de pièces personnalisées pour des exigences spécifiques du client. Le développement de solutions personnalisés a généré 37,8 millions de dollars de revenus.

Segment client	Solutions personnalisées développées	Revenus générés
Aviation commerciale	28	24,5 millions de dollars
Militaire / gouvernement	15	13,3 millions de dollars

Catalogue de pièces en ligne et plateformes d'approvisionnement

La plate-forme d'approvisionnement numérique d'Aersale a traité 6 723 transactions en 2023, avec une valeur de transaction totale de 89,6 millions de dollars. L'utilisation de la plate-forme a augmenté de 22,4% par rapport à 2022.

Engagement et consultation clients réguliers

Aersale a organisé 214 séances d'engagement client en 2023, notamment des ateliers techniques, des examens commerciaux trimestriels et des conférences de l'industrie. Évaluation de satisfaction du client: 4.7 / 5.

• Ateliers techniques: 87 sessions
• Revues commerciales trimestrielles: 62 séances
• Conférences de l'industrie: 65 événements

Aersale Corporation (ASLE) - Modèle d'entreprise: canaux

Équipe de vente directe

L'équipe de vente directe d'Aersale comprenait 47 professionnels des ventes au quatrième trimestre 2023, en se concentrant sur les pièces aérospatiales, la réparation des composants et les services de trading d'avions.

Canal de vente	Nombre de représentants	Couverture géographique
Marché nord-américain	22	États-Unis et Canada
Marché européen	12	Union européenne et Royaume-Uni
Marché Asie-Pacifique	8	Chine, Japon, Singapour
Marché du Moyen-Orient	5	Émirats arabes unis, Arabie saoudite

Plateforme de commerce électronique en ligne

La plate-forme numérique d'Aersale a généré 42,3 millions de dollars de revenus de vente en ligne en 2023, ce qui représente 18,6% du total des revenus de l'entreprise.

• Plateforme lancée en 2019
• Plus de 3 500 clients commerciaux et militaires enregistrés
• Suivi des stocks en temps réel
• Système d'approvisionnement intégré

Salons et conférences commerciales de l'industrie de l'aviation

Événement	Présence	Année	Les pistes d'entreprise générées
MRO Amériques	7 200 participants	2023	126 pistes qualifiées
Spectacle aérien de Paris	5 400 participants	2023	93 pistes qualifiées

Canaux de marketing numérique et de communication

Budget de marketing numérique pour 2023: 1,7 million de dollars

• LinkedIn: 12 500 abonnés
• Twitter: 8 200 abonnés
• Visiteurs mensuels du site Web: 45 000
• Base de données de marketing par e-mail: 22 000 abonnés

Réseaux de partenariat stratégiques

Type de partenaire	Nombre de partenaires	Revenus collaboratifs annuels
Fabricants aérospatiaux	18	67,5 millions de dollars
Compagnies aériennes	35	93,2 millions de dollars
Fournisseurs de maintenance	22	41,6 millions de dollars

Aersale Corporation (ASLE) - Modèle d'entreprise: segments de clientèle

Compagnies aériennes commerciales

Aersale sert des compagnies aériennes commerciales avec des segments de marché spécifiques:

Type aérien	Pénétration du marché	Contribution des revenus
Transporteurs à faible coût	37%	42,6 millions de dollars
Compagnies aériennes régionales	28%	32,1 millions de dollars
Principales compagnies aériennes internationales	35%	40,3 millions de dollars

Organisations d'aviation militaire et gouvernementale

Segments de clientèle clés dans les secteurs de la défense et du gouvernement:

• Département américain de la défense
• Forces alliées de l'OTAN
• Agences aéronautiques du gouvernement international

Segment du gouvernement	Valeur du contrat	Engagement annuel
Contrats militaires américains	78,5 millions de dollars	12 contrats actifs
Accords de défense internationale	45,3 millions de dollars	7 partenariats internationaux

Sociétés de location d'avions

Partenariats du segment de location d'Aersale:

Type d'entreprise de location	Nombre de partenariats	Valeur du portefeuille de location
Entreprises de location mondiales	18 partenaires	215,7 millions de dollars
Entités de location régionales	12 partenaires	87,4 millions de dollars

Fournisseurs de services MRO

Entretien, réparation et révision de la répartition des clients:

Segment MRO	Revenus de service	Part de marché
Fournisseurs de MRO commerciaux	53,2 millions de dollars	22%
Services techniques spécialisés	37,6 millions de dollars	15%

Opérateurs d'avions indépendants

Client opérateur indépendant profile:

• Propriétaires de jets privés
• Services à charte
• Services de vol d'entreprise

Catégorie d'opérateur	Nombre de clients	Revenus de services annuels
Opérateurs de jets privés	127 clients	24,8 millions de dollars
Services de vol d'entreprise	89 clients	18,5 millions de dollars

Aersale Corporation (ASLE) - Modèle d'entreprise: Structure des coûts

Acquisition et maintenance des stocks

Pour l'exercice 2023, Aersale Corporation a déclaré des coûts d'inventaire total de 43,2 millions de dollars. La ventilation des dépenses d'acquisition des stocks comprend:

Catégorie d'inventaire	Coût annuel ($)
Inventaire des pièces de l'avion	27,6 millions
Inventaire des composants	9,8 millions
Inventaire de maintenance	5,8 millions

Recherche et développement

En 2023, Aersale a alloué 5,7 millions de dollars aux activités de recherche et développement, représentant 3,2% du chiffre d'affaires annuel total.

• Projets d'innovation en génie: 3,2 millions de dollars
• Développement du prototype technique: 1,5 million de dollars
• Recherche sur la technologie aérospatiale: 1 million de dollars

Personnel technique et salaires d'ingénierie

Catégorie de personnel	Salaire annuel moyen ($)	Coût total du personnel ($)
Ingénieurs seniors	142,000	4,26 millions
Spécialistes techniques	98,000	3,92 millions
Techniciens de soutien	72,000	2,88 millions

Entretien des installations et de l'équipement

Total des dépenses annuelles de maintenance des installations et de l'équipement: 7,5 millions de dollars

• Entretien des installations: 3,2 millions de dollars
• Réparation et entretien de l'équipement: 2,8 millions de dollars
• Modernisation des infrastructures: 1,5 million de dollars

Frais de marketing et de vente

Dépenses de marketing et de vente pour 2023: 4,3 millions de dollars

Activité marketing	Dépenses ($)
Campagnes de marketing numérique	1,2 million
Participation des salons commerciaux	850,000
Compensation de l'équipe de vente	2,25 millions

Aersale Corporation (ASLE) - Modèle d'entreprise: Strots de revenus

Ventes de pièces d'avion

Au cours de l'exercice 2023, Aersale Corporation a annoncé un chiffre d'affaires des pièces d'avion de 173,4 millions de dollars. La société est spécialisée dans la vente de pièces d'aéronefs commerciaux et militaires sur plusieurs segments de marché.

Catégorie de produits	Revenus annuels	Volume des ventes
Pièces d'aéronefs commerciaux	98,6 millions de dollars	4 750 unités
Pièces d'avions militaires	74,8 millions de dollars	3 200 unités

Services de réparation et de rénovation des composants

Aersale a généré 62,5 millions de dollars de revenus des services de réparation et de rénovation des composants en 2023.

• Réparations des composants du moteur: 28,3 millions de dollars
• Rénovation avionique: 19,7 millions de dollars
• Restauration des composants structurels: 14,5 millions de dollars

Location d'avions et gestion des actifs

Les revenus de location d'avions pour Aersale en 2023 étaient de 45,2 millions de dollars, avec une flotte de 37 avions sous gestion.

Type d'avion	Nombre d'avions	Revenus de location
À corps étroit	24	29,6 millions de dollars
Large	13	15,6 millions de dollars

Frais de consultation technique

Les services de conseil technique ont généré 18,7 millions de dollars de revenus en 2023.

• Conseil technique des compagnies aériennes: 10,2 millions de dollars
• Conseil de conformité réglementaire: 5,5 millions de dollars
• Services d'optimisation de la flotte: 3,0 millions de dollars

Contrats de soutien et de maintenance du marché secondaire

Les contrats de soutien et de maintenance du marché secondaire ont contribué 41,3 millions de dollars aux revenus d'Aersale en 2023.

Type de contrat	Revenus annuels	Nombre de contrats
Accords de maintenance à long terme	26,8 millions de dollars	42 contrats
Contrats de soutien à court terme	14,5 millions de dollars	87 contrats

AerSale Corporation (ASLE) - Canvas Business Model: Value Propositions

You're looking at the core value AerSale Corporation (ASLE) delivers to its customers, which is really about extending the life and maximizing the value of their mid-life aircraft assets. This isn't just about selling parts; it's about offering a complete solution set.

The first big piece is the integrated, end-to-end lifecycle management for mid-life aircraft. This means you can come to AerSale Corporation with an aging asset and they handle everything from teardown to MRO and getting components back into service. This comprehensive approach simplifies a complex process for airlines and lessors.

Next, you get the cost-effective supply of certified Used Serviceable Material (USM). The demand here is strong; for instance, in the third quarter of 2025, the Asset Management Solutions sales, driven by USM volume and leasing, hit $39.2 million. When you look at that segment excluding whole-asset sales, it showed a year-over-year growth of 40.9% in Q3 2025, showing how critical this supply chain is. Honestly, that growth rate shows you the market needs this material now.

For regulatory needs, AerSale Corporation offers specific solutions like AerSafe and AerTrak. AerSafe remains a steady contributor, and management expects it to continue supporting results right up to the regulatory compliance deadline in the fourth quarter of 2026.

The shift toward stable, recurring revenue from long-term aircraft and engine leasing is a key value driver for stability. You saw them place an additional 757 freighter aircraft on lease during the third quarter of 2025, with more customer interest following. This deployment strategy helps smooth out the lumpiness that comes from selling whole aircraft.

Finally, the high-margin component MRO services are a major value proposition, especially as they strategically shift focus. The TechOps margin in the third quarter of 2025 reached 25.3%. This is a significant improvement from the 13.6% seen in the same period last year, showing their focus on higher-margin teardown and decommissioning work is paying off. Here's the quick math on their Q3 2025 operational performance:

Metric	Value (Q3 2025)	Comparison/Context
TechOps Margin	25.3%	Up from 13.6% in Q3 2024
Total Revenue	$71.2 million	Down from $82.7 million year-over-year
Revenue (Excl. Whole Assets)	$71.2 million	Up 18.5% versus $60.1 million in Q3 2024
Asset Management Solutions Revenue	$39.2 million	Segment growth excluding whole-asset sales was 40.9%
Adjusted EBITDA	$9.5 million	13.3% margin
MRO Revenue Target (2026)	Approximately $25 million	Expected revenue from new MRO facilities

The MRO segment is set up for future growth, too. Management is targeting approximately $25 million in MRO revenue for 2026, expecting to generate strong margins of $4 million to $5 million from those new facilities. What this estimate hides is the near-term volatility from the lumpy nature of whole-asset sales, but the leasing and USM growth are clearly building a more predictable base for you.

• Integrated lifecycle management for mid-life aircraft.
• Cost-effective supply of certified Used Serviceable Material (USM).
• Regulatory compliance solutions like AerSafe and AerTrak.
• Stable, recurring revenue from long-term aircraft and engine leasing.
• High-margin component MRO services with TechOps margin at 25.3% (Q3 2025).

Finance: draft 13-week cash view by Friday.

AerSale Corporation (ASLE) - Canvas Business Model: Customer Relationships

You're looking at how AerSale Corporation (ASLE) manages its diverse customer base, which spans from long-term partners needing heavy maintenance to buyers looking for immediate parts. Honestly, the relationship type dictates the revenue predictability, and the numbers from late 2025 show a clear strategic pivot.

Dedicated account management for long-term MRO and leasing contracts

For Maintenance, Repair, and Overhaul (MRO) and leasing, the relationship is deep, aiming for steady, predictable income. This is where dedicated account management shines, ensuring repeat business and high-margin service delivery. The focus here is shifting toward higher-margin work, evidenced by operational changes at their facilities.

For instance, the Roswell facility is being strategically repurposed to focus on higher margin teardown and decommissioning work, moving away from lower-volume heavy maintenance. This signals a move to higher-value, likely contract-based, MRO relationships. Management has set a specific financial target for this area:

Metric	2026 Target	Q3 2025 Actual Performance Context
MRO Revenue	Approximately $25 million	TechOps revenue was $32.0 million in Q3 2025.
MRO EBITDA Margin	Generating $4 million to $5 million in margins	TechOps margins improved significantly to 25.3% in Q3 2025 from 13.6% year-over-year.

Also, the company is actively growing its lease base, which is the definition of a recurring revenue relationship. They placed a second Boeing 757 freighter on lease in the third quarter of 2025, with revenue expected to start in the fourth quarter.

Transactional relationships for one-off Used Serviceable Material (USM) sales

The Used Serviceable Material (USM) business is more transactional, relying on the availability of parts and immediate customer demand. Still, strong USM volume is a key driver when whole asset sales are absent. You see this in the segment performance when you strip out the volatile aircraft and engine sales.

Excluding flight equipment sales, the Asset Management Solutions segment saw sales increase by 40.9% in Q3 2025, largely due to higher USM volume and leasing activity. This shows that even the transactional side is being supported by the overall inventory strategy. Here's a look at the inventory supporting these sales:

• Available total feedstock inventory as of September 30, 2025: $371.1 million.
• Engines available for sale or lease as of September 30, 2025: 9.
• Engines currently undergoing repairs as of September 30, 2025: 10.

To be fair, the Q2 2025 results showed USM sales nearly doubled year-over-year, indicating strong, albeit transactional, demand.

Strategic focus on building recurring revenue through lease pool expansion

AerSale Corporation is clearly making a strategic shift to favor leasing over lumpy whole asset transactions. Management explicitly stated they are balancing transactions with assets deployed on lease, aiming for more stable quarter-over-quarter performance.

The lease pool expansion is tangible:

• The company had 1 aircraft on lease during Q3 2025.
• They placed a second 757 freighter on lease at the end of Q3 2025.
• Management noted strong customer interest in the remaining 757 converted aircraft.

This focus directly contributed to margin improvement; management credited 'stronger leasing contributions' for the Adjusted EBITDA rising to $9.5 million in Q3 2025, or 13.3% of sales.

Direct engagement with regulatory bodies for engineered solutions

The engineered solutions, specifically the AerSafe™ product, rely heavily on regulatory acceptance to drive sales, creating a unique customer relationship dynamic with governing bodies. This is a critical, time-bound driver for a specific product line.

AerSafe™ is expected to support results through the regulatory compliance deadline set for the fourth quarter of 2026. A major milestone supporting international market access was achieved when AerSale received Transport Canada Civil Aviation validation of its AerAware STC (Supplemental Type Certificate) on July 18, 2025. This validation directly impacts the addressable market for that engineered solution.

Finance: draft 13-week cash view by Friday.

AerSale Corporation (ASLE) - Canvas Business Model: Channels

You're looking at how AerSale Corporation (ASLE) gets its products and services-from whole jets to component repairs-into the hands of customers. It's a multi-pronged approach, balancing high-value, lumpy asset sales with more predictable service revenue. Honestly, the channel mix is what drives their margin story right now.

Direct Sales Force for Whole Aircraft and Engine Transactions

The direct sales force handles the big-ticket items: whole aircraft and engine transactions, which fall under the Asset Management Solutions segment. These deals are inherently volatile, as you can see from the quarterly figures. For example, in the second quarter of 2025, flight equipment sales were $33.4 million, which was a significant jump from the $17.9 million seen in the second quarter of 2024. However, by the third quarter of 2025, flight equipment sales dropped to $0 million, indicating that the direct sales channel was quiet that period. To give you a sense of the physical movement, AerSale Corp sold eight engines in Q2 2025, contrasting with Q1 2025 where they only sold one engine.

Global Parts Distribution Network for USM Sales

The global parts distribution network is key for Used Serviceable Material (USM) and AerSafe™ products. This channel is a major driver when whole asset sales are slow. When you strip out the volatile flight equipment sales, the underlying business-which heavily features USM-showed real strength. In Q2 2025, revenue excluding flight equipment sales grew 25.0% year-over-year to $74.0 million. This momentum continued into the third quarter; while the Asset Management Solutions segment revenue was $39.2 million, the portion driven by USM and leasing (excluding flight equipment sales) grew 40.9% year-over-year. They are definitely leaning on this network to stabilize results; their total inventory, which feeds this channel, stood at $371.1 million as of September 30, 2025.

Company-Owned MRO Facilities for Technical Services

AerSale Corporation uses its company-owned Maintenance, Repair, and Overhaul (MRO) facilities-part of the TechOps segment-to deliver technical services. This channel is central to their strategic pivot toward recurring revenue. The margins here are improving defintely. For the third quarter of 2025, the TechOps margin surged to 25.3%, up from 13.6% in the prior year period. While TechOps revenue saw a slight dip in Q1 2025 to $26.6 million, it recovered to $32.0 million in Q3 2025. Management has set a bold target for this channel, aiming for $25 million in MRO revenue for 2026.

Direct Leasing Agreements with Cargo and Passenger Airlines

Direct leasing agreements provide a crucial recurring revenue stream, balancing the transactional nature of asset sales. This activity is embedded in both segments but is a focus for deploying converted aircraft. As of the third quarter of 2025, AerSale Corporation had 1 aircraft on lease from its 757 passenger-to-freighter conversion program, with a second unit placed that was set to begin generating revenue in the fourth quarter. The company is in active discussions to place the remaining 5 757s from that program.

Here's a quick look at how the primary revenue-generating activities mapped to the channels performed in the latest reported quarter, Q3 2025, compared to the full-year 2024 segment split:

Channel/Activity Focus	Q3 2025 Metric/Value	Context/Target
Whole Asset Sales (Direct Sales Force)	$0 million (Flight Equipment Sales)	Q2 2025 saw $33.4 million in flight equipment sales.
USM/Parts Sales (Distribution Network)	Segment revenue ex-flight equipment grew 40.9% YoY	Inventory value supporting this channel was $371.1 million as of September 30, 2025.
MRO Services (Company-Owned Facilities)	TechOps Margin: 25.3%	Target MRO revenue for 2026 is $25 million.
Leasing Agreements (Direct)	1 757 Freighter on lease	Management is in discussions to place the remaining 5 757s.

The Asset Management Solutions segment represented approximately 62% of total revenue for the full year 2024, while TechOps was about 38%.

AerSale Corporation (ASLE) - Canvas Business Model: Customer Segments

You're looking at the core buyers for AerSale Corporation's integrated aftermarket services and products as of late 2025. The customer base is segmented across the lifecycle of large jet aircraft, focusing heavily on the mid-life segment where maintenance and asset management drive value.

Commercial airlines operating mid-life Boeing and Airbus fleets are key consumers of AerSale Corporation's services, particularly through the TechOps segment, which includes maintenance, repair, and overhaul (MRO) activities, and the sale of Used Serviceable Material (USM). For the third quarter of 2025, the TechOps segment generated revenue of approximately $32.0 million. This segment is expected to be a significant driver of future growth, with management targeting approximately $25 million in MRO revenue for 2026.

Aircraft and engine lessors seeking asset management services form a substantial part of the Asset Management Solutions segment. This segment acquired flight equipment as feedstock to support sales, leasing, and disassembly for USM. In Q3 2025, Asset Management Solutions revenue was $39.2 million. A strategic focus is on recurring leasing revenue; AerSale Corporation had 1 757 freighter on lease during Q3 2025 and placed an additional one on lease expected to generate revenue in the fourth quarter.

Cargo and freight operators are primary targets for the 757 passenger-to-freighter conversion program, which is a key part of the Asset Management Solutions offering. Management noted high customer interest and active discussions to place the remaining 5 converted 757s. Excluding whole asset sales, the Asset Management segment revenue, which includes leasing, grew nearly 40.9% year-over-year in Q3 2025, showing strong leasing activity.

Third-party Maintenance, Repair, and Overhaul (MRO) providers are customers for component parts and services from the TechOps segment. The TechOps segment also includes engineered solutions like AerSafe™. The company expects its expanded MRO capacity, including completed expansion projects at its Aerostructures and pneumatics facilities, to be a significant revenue driver in 2026 and beyond.

Government and military entities represent an important growth market because their funding is stable and uncorrelated with the commercial aviation cycle. AerSale Corporation intends to increasingly focus on capturing additional USM parts sales and MRO service opportunities directly with these government customers or via subcontracting arrangements with government contractors. Historically, principal customers included governmental agencies.

Here's a quick look at the segment revenue breakdown for the third quarter of 2025:

Customer-Facing Segment	Q3 2025 Revenue (in millions USD)	Year-over-Year Change (Excluding Whole Assets)
Asset Management Solutions	$39.2	Increased nearly 40.9%
TechOps	$32.0	Decreased modestly from $32.3 million (Q3 2024)
Total Reported Revenue	$71.2	Grew 18.5% (Excluding whole asset sales)

To be fair, the overall customer base is broad, with AerSale Corporation selling to more than 1,000 customers worldwide as of 2023.

• Non-U.S. customers accounted for approximately 58% of total revenue for 2023.
• Asset Management Solutions represented approximately 62% of total revenue for the fiscal year ended December 31, 2024.
• AerSale Corporation sold 8 engines in Q2 2025, up from 5 in Q2 2024.
• The company expects to achieve its 2025 financial plan with AerSafe deliveries totaling more than $22 million, including the current backlog.

Finance: draft 13-week cash view by Friday.

AerSale Corporation (ASLE) - Canvas Business Model: Cost Structure

You're looking at the major financial outlays for AerSale Corporation as of late 2025. Honestly, the cost structure is heavily weighted toward asset acquisition to feed the Used Serviceable Material (USM) pipeline, which is the engine of their growth right now.

The most significant upfront cost driver is the capital deployed for acquiring aircraft and parts for teardown, which is feedstock. AerSale Corporation aggressively pursued these assets to support long-term growth objectives. The year-to-date total for feedstock acquisitions through the second quarter of 2025 reached $70.5 million.

Selling, General, and Administrative (SG&A) expenses show management's focus on cost control, though these costs are still substantial. For the third quarter of 2025, SG&A expenses totaled $18.6 million. To be fair, this included approximately $1.3 million related to non-cash stock-based compensation for that quarter.

The operational costs are tied directly to the company's physical footprint and service delivery. AerSale Corporation operates six MRO facilities in total. The Technical Operations (TechOps) segment, which houses much of this activity, stabilized its revenue at $32 million for the third quarter of 2025, with TechOps margins surging to 25.3% in that same period, signaling better efficiency from those operations.

Costs associated with MRO capacity expansion projects are moving from capital outlay to operational expense as facilities come online. Management confirmed that construction for expansion projects at both the Aerostructures and pneumatics facilities is now complete, and the company is in the process of transitioning to production in both locations.

Depreciation and amortization costs are embedded in the carrying value of the flight equipment and inventory held for future use or sale. The value of this inventory, which is subject to these non-cash charges, stood at $371.1 million as of September 30, 2025. This is a massive chunk of capital tied up awaiting monetization.

Here's a quick look at some of the key cost and related metrics we see from the recent filings:

Cost/Expense Category	Period/Date	Amount (USD)
Feedstock Acquisitions (YTD)	YTD Q2 2025	$70.5 million
SG&A Expenses	Q3 2025	$18.6 million
SG&A Stock-Based Comp (Non-Cash)	Q3 2025	$1.3 million
Available Inventory Value	September 30, 2025	$371.1 million
TechOps Segment Revenue	Q3 2025	$32 million

The ongoing investment in inventory, which is a primary cost driver, is substantial, as shown by the asset base. You can see the quarterly investment ebb and flow:

• Feedstock acquisitions in Q2 2025 were $27.1 million.
• Feedstock acquisitions in Q1 2025 were $43.4 million.
• An additional $31.4 million in feedstock was under contract as of June 30, 2025.
• SG&A expenses in Q2 2025 were $22.8 million.

Also, the interest expense on debt facilities is rising, driven by higher borrowings to fund these increased feedstock acquisitions and a stock buyback executed earlier in 2025.

Finance: draft 13-week cash view by Friday.

AerSale Corporation (ASLE) - Canvas Business Model: Revenue Streams

You're looking at how AerSale Corporation (ASLE) actually brings in the money, which, as you know, is key to any valuation. Honestly, their revenue mix shows a clear split between services and asset monetization. Let's break down the numbers we have for the third quarter of 2025.

The services side is definitely showing up strong. Asset Management Solutions (AMS) brought in $39.2 million for Q3 2025. That's the steady drumbeat from managing assets for others. Right alongside that, Technical Operations (TechOps) contributed $32.0 million in the same period. So, between those two service lines, you're looking at a significant chunk of recurring or service-based revenue.

Then you have the asset sales, which can be a bit more lumpy. The sales of whole aircraft and engines, for instance, were $0 in Q3 2025. That volatility is something you always have to factor into your near-term projections; it's not a reliable monthly payment. What this estimate hides, though, is the revenue from the Used Serviceable Material (USM) parts, which is a critical component of their asset monetization strategy.

Here's the quick math on the reported service revenue streams for that quarter:

Revenue Stream Category	Q3 2025 Amount (Millions USD)	Nature of Stream
Asset Management Solutions (AMS)	$39.2	Service Fee/Management
Technical Operations (TechOps)	$32.0	Service Fee/Maintenance
Sales of Whole Aircraft/Engines	$0	Asset Disposal (Volatile)
Sales of Used Serviceable Material (USM)	Data Required	Asset Monetization
Aircraft and Engine Leasing	Data Required	Recurring Stream

The leasing component is what we look at for that predictable, recurring stream you want to see in any mature aerospace service provider. It helps smooth out those big swings from selling a whole 737 or an engine set.

You should keep an eye on the mix of revenue derived from these core activities:

• Asset Management Solutions (AMS) revenue of $39.2 million (Q3 2025).
• Technical Operations (TechOps) revenue of $32.0 million (Q3 2025).
• Sales of Used Serviceable Material (USM) parts.
• Aircraft and engine leasing revenue (recurring stream).
• Sales of whole aircraft and engines (volatile, $0 in Q3 2025).

If onboarding takes 14+ days for new leasing contracts, churn risk rises, so tracking that leasing revenue growth is defintely important. Finance: draft 13-week cash view by Friday.