Aersale Corporation (ASLE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da aviação, a Aersale Corporation (ASLE) surge como um jogador fundamental, transformando o ciclo de vida de aeronaves por meio de remarketing inovador, serviços técnicos e soluções sustentáveis. Ao preencher estrategicamente a lacuna entre os ativos de aeronaves envelhecidos e as demandas do mercado, esta empresa criou um modelo de negócios sofisticado que respira nova vida à infraestrutura da aviação, oferecendo alternativas econômicas às estratégias tradicionais de compras e manutenção.

Aersale Corporation (ASLE) - Modelo de negócios: Parcerias -chave

Fabricantes de aeronaves comerciais e arrendatários

Aersale mantém parcerias estratégicas com os principais fabricantes de aeronaves e arrendatários, incluindo:

Parceiro	Detalhes da parceria	Valor estimado
Boeing	Aeronaves Componentes de fornecimento e serviços de MRO	US $ 47,3 milhões em 2023
Airbus	Reparação de componentes e suprimento de peças	US $ 35,6 milhões em 2023

Provedores de serviço de manutenção, reparo e revisão (MRO)

Aersale colabora com vários provedores de serviços MRO em todo o mundo:

• AAR Corp
• StandardAero
• ST Engineering

Mro parceiro	Escopo de serviço	Valor anual de colaboração
AAR Corp	Manutenção de motor e estrutura	US $ 28,9 milhões em 2023

Distribuidores de peças da aviação global

As principais parcerias de distribuição incluem:

• Vendas mundiais de aeronaves
• Soluções globais de aviação
• Distribuidores aeroespaciais internacionais

Distribuidor	Regiões de distribuição	Valor anual de distribuição de peças
Vendas mundiais de aeronaves	América do Norte, Europa	US $ 22,7 milhões em 2023

Instituições financeiras e empresas de leasing

As parcerias financeiras de Aersale incluem:

• Wells Fargo Aviation Finance
• CIT Aeroespacial
• Capital da aviação SMBC

Parceiro financeiro	Tipo de parceria	Valor de financiamento
Wells Fargo Aviation Finance	Leasing e financiamento de aeronaves	Linha de crédito de US $ 150 milhões

Tecnologia aeroespacial e fornecedores de componentes

Rede de Parceria de Tecnologia e Componente:

• Aeroespacial Honeywell
• Motores de aeronaves safran
• Aeroespacial de Collins

Parceiro de tecnologia	Especialização dos componentes	Valor anual de colaboração
Aeroespacial Honeywell	Aviônicos e componentes do motor	US $ 41,2 milhões em 2023

Aersale Corporation (ASLE) - Modelo de negócios: Atividades -chave

Vendas de peças de aeronaves e remarketing

A Aersale gerou US $ 178,7 milhões em receita total para o ano fiscal de 2022, com contribuições significativas das vendas de peças de aeronaves e atividades de remarketing.

Categoria de produto	Contribuição da receita
Vendas de peças de aeronaves	US $ 87,3 milhões
Serviços de remarketing	US $ 45,6 milhões

Serviço técnico e reparo de componentes

A Aersale mantém um portfólio abrangente de serviços técnicos com recursos de reparo especializados.

• Instalações de reparo de componentes localizadas em vários locais globais
• Estações de reparo certificadas pela FAA e EASA
• Receita anual de reparo de componentes: US $ 52,4 milhões

Motor de aeronave e reforma de componentes

A empresa opera instalações dedicadas de reforma de motor e componentes com experiência técnica especializada.

Tipo de motor	Capacidade anual de reforma
Motores CFM56	45 unidades
Motores Leap	22 unidades

Gerenciamento de ativos e leasing

Aersale gerencia um portfólio diversificado de ativos de aviação com operações estratégicas de leasing.

• Valor total da portfólio de ativos: US $ 276,5 milhões
• Receita de leasing de aeronaves: US $ 33,2 milhões em 2022
• O portfólio de arrendamento inclui 37 aeronaves comerciais

Serviços de engenharia e consultoria técnica

A Aersale fornece serviços especializados de engenharia e consultoria técnica para clientes globais de aviação.

Categoria de serviço	Receita anual
Consultoria técnica	US $ 15,6 milhões
Serviços de Engenharia	US $ 11,9 milhões

Aersale Corporation (ASLE) - Modelo de negócios: Recursos -chave

Extenso inventário de peças e componentes de aeronaves

A partir do quarto trimestre de 2023, a Aersale Corporation mantém um inventário de peças de aeronaves no valor de US $ 87,3 milhões. O inventário da empresa inclui:

• Aproximadamente 15.000 componentes de aeronaves exclusivos
• Peças compatíveis com plataformas de aeronaves da Boeing e Airbus
• Inventário cobrindo várias gerações de aeronaves

Categoria de inventário	Valor total	Quantidade
Componentes da estrutura	US $ 42,5 milhões	6.500 unidades
Peças do motor	US $ 31,2 milhões	4.800 unidades
Sistemas aviônicos	US $ 13,6 milhões	3.700 unidades

Capacidades avançadas de conhecimento técnico e engenharia

Aersale emprega 127 Profissionais de Engenharia Especializados com uma experiência média do setor de 18 anos.

• Certificação da estação de reparo da FAA
• Aprovação da Organização de Manutenção da Parte 145 EASA
• 5 centros de pesquisa e desenvolvimento de engenharia dedicados

Rede Global de Distribuição e Logística

A infraestrutura de distribuição abrange 6 locais internacionais com posicionamento estratégico na América do Norte, Europa e Ásia.

Localização	Tamanho do armazém	Capacidade anual de logística
Miami, EUA	45.000 pés quadrados	8.500 remessas de componentes
Amsterdã, Holanda	38.000 pés quadrados	6.200 remessas de componentes
Cingapura	32.000 pés quadrados	5.100 remessas de componentes

Instalações especializadas de reparo e reforma

Aersale opera 4 instalações de reparo e manutenção dedicadas com área total de 185.000 pés quadrados.

Propriedade intelectual e certificações técnicas

O portfólio de propriedade intelectual inclui:

• 12 patentes técnicas registradas
• 7 Metodologias de reparo e manutenção proprietárias
• Investimento anual de P&D de US $ 3,2 milhões

Tipo de certificação	Autoridade emissora	Período de validade
Estação de reparo da FAA	Administração Federal de Aviação	Válido até 2025
EASA Parte 145	Agência de Segurança da Aviação da União Europeia	Válido até 2024

Aersale Corporation (ASLE) - Modelo de Negócios: Proposições de Valor

Soluções econômicas para manutenção de aeronaves e substituição de peças

A Aersale registrou US $ 186,3 milhões em receita total para o ano fiscal de 2023, com uma parcela significativa derivada dos serviços de manutenção, reparo e revisão (MRO). A empresa oferece estratégias de redução de custos por meio de:

Categoria de serviço	Economia média de custos
Reparo de componentes da aeronave	35-45% em comparação com os preços do OEM
Substituição de peças	27-38% inferiores aos novos custos de componentes
Suporte técnico	20-30% Redução nas despesas de manutenção

Gerenciamento estendido do ciclo de vida para aeronaves envelhecidas

Asale é especializada em estender a Lifecycles operacionais de aeronaves por meio de estratégias de gerenciamento abrangentes:

• Gerenciou 127 aeronaves em várias etapas do ciclo de vida em 2023
• Forneceu soluções técnicas para aeronaves de 15 a 30 anos
• Alcançou 92% de taxa de extensão de vida útil da aeronave

Componentes e peças de aeronaves certificadas de alta qualidade

Métricas de certificação de qualidade para 2023:

Padrão de certificação	Porcentagem de conformidade
Certificação FAA	100%
Certificação EASA	98.7%
Sistemas de gestão da qualidade	99.5%

Aviação sustentável por meio de reutilização e reciclagem de peças

Desempenho de sustentabilidade em 2023:

• 3.276 componentes de aeronaves reciclados
• Pegada de carbono reduzida em aproximadamente 22.500 toneladas métricas
• Implementou práticas de economia circular em 87% das operações

Serviços abrangentes de suporte técnico e consultoria

Métricas de suporte técnico para 2023:

Categoria de serviço	Horário total de serviço
Consultoria técnica	24.675 horas
Suporte técnico no local	18.432 horas
Assistência técnica remota	12.987 horas

Aersale Corporation (ASLE) - Modelo de Negócios: Relacionamentos ao Cliente

Parcerias contratuais de longo prazo

A Aersale Corporation mantém 87 contratos ativos de manutenção e apoio a longo prazo com companhias aéreas comerciais e organizações militares a partir do quarto trimestre 2023. A duração média do contrato é de 5,3 anos, com um valor total de contrato de US $ 214,6 milhões.

Tipo de contrato	Número de contratos	Valor total do contrato
Contratos de companhias aéreas comerciais	53	US $ 132,4 milhões
Contratos de apoio militar	34	US $ 82,2 milhões

Equipes de suporte técnico dedicadas

A Aersale opera 22 centros de suporte técnico dedicado globalmente, com 167 pessoal especializado em suporte técnico. O tempo médio de resposta para o suporte técnico é de 2,1 horas.

• Centros de apoio à América do Norte: 8
• Centros de apoio à Europa: 7
• Centros de suporte da Ásia-Pacífico: 7

Soluções personalizadas para necessidades individuais de clientes

Em 2023, a Aersale desenvolveu 43 soluções de engenharia e peças personalizadas para requisitos específicos do cliente. O desenvolvimento de soluções personalizado gerou US $ 37,8 milhões em receita.

Segmento de cliente	Soluções personalizadas desenvolvidas	Receita gerada
Aviação comercial	28	US $ 24,5 milhões
Militar/governo	15	US $ 13,3 milhões

Catálogo de peças on -line e plataformas de compras

A plataforma de compras digitais da Aersale processou 6.723 transações em 2023, com um valor total da transação de US $ 89,6 milhões. O uso da plataforma aumentou 22,4% em comparação com 2022.

Engajamento e consulta regulares do cliente

Asale realizou 214 sessões de engajamento de clientes em 2023, incluindo oficinas técnicas, análises trimestrais de negócios e conferências do setor. Classificação de satisfação do cliente: 4.7/5.

• Oficinas técnicas: 87 sessões
• Revisões de negócios trimestrais: 62 sessões
• Conferências do setor: 65 eventos

Aersale Corporation (ASLE) - Modelo de Negócios: Canais

Equipe de vendas diretas

A equipe de vendas diretas da Aersale compreendeu 47 profissionais de vendas a partir do quarto trimestre de 2023, com foco em peças aeroespaciais, reparo de componentes e serviços de negociação de aeronaves.

Canal de vendas	Número de representantes	Cobertura geográfica
Mercado norte -americano	22	Estados Unidos e Canadá
Mercado europeu	12	União Europeia e Reino Unido
Mercado da Ásia-Pacífico	8	China, Japão, Cingapura
Mercado do Oriente Médio	5	Emirados Árabes Unidos, Arábia Saudita

Plataforma online de comércio eletrônico

A plataforma digital da Aersale gerou US $ 42,3 milhões em receita de vendas on -line em 2023, representando 18,6% da receita total da empresa.

• Plataforma lançada em 2019
• Mais de 3.500 clientes comerciais e militares registrados
• Rastreamento de inventário em tempo real
• Sistema de compras integradas

Feiras de comércio da indústria de aviação e conferências

Evento	Participação	Ano	Leads de negócios gerados
MRO Américas	7.200 participantes	2023	126 leads qualificados
Paris Air Show	5.400 participantes	2023	93 leads qualificados

Canais de marketing e comunicação digital

Orçamento de marketing digital para 2023: US $ 1,7 milhão

• LinkedIn: 12.500 seguidores
• Twitter: 8.200 seguidores
• Website Visitantes mensais: 45.000
• Banco de dados de marketing por email: 22.000 assinantes

Redes de parceria estratégica

Tipo de parceiro	Número de parceiros	Receita colaborativa anual
Fabricantes aeroespaciais	18	US $ 67,5 milhões
Companhias aéreas	35	US $ 93,2 milhões
Provedores de manutenção	22	US $ 41,6 milhões

Aersale Corporation (ASLE) - Modelo de negócios: segmentos de clientes

Companhias aéreas comerciais

Aersale serve companhias aéreas comerciais com segmentos de mercado específicos:

Tipo de companhia aérea	Penetração de mercado	Contribuição da receita
Transportadoras de baixo custo	37%	US $ 42,6 milhões
Companhias aéreas regionais	28%	US $ 32,1 milhões
Principais companhias aéreas internacionais	35%	US $ 40,3 milhões

Organizações de aviação militar e governamental

Principais segmentos de clientes nos setores de defesa e governo:

• Departamento de Defesa dos EUA
• Forças Aliadas da OTAN
• Agências de aviação do governo internacional

Segmento do governo	Valor do contrato	Engajamento anual
Contratos militares dos EUA	US $ 78,5 milhões	12 contratos ativos
Acordos de Defesa Internacional	US $ 45,3 milhões	7 parcerias internacionais

Empresas de leasing de aeronaves

Parcerias de segmento de leasing de Aersale:

Tipo de empresa de leasing	Número de parcerias	Valor do portfólio de arrendamento
Empresas de leasing global	18 parceiros	US $ 215,7 milhões
Entidades regionais de leasing	12 parceiros	US $ 87,4 milhões

Provedores de serviços MRO

Manutenção, reparo e revisão do cliente:

Segmento MRO	Receita de serviço	Quota de mercado
Provedores de MRO comerciais	US $ 53,2 milhões	22%
Serviços técnicos especializados	US $ 37,6 milhões	15%

Operadores de aeronaves independentes

Cliente de operador independente profile:

• Proprietários de jatos particulares
• Serviços de fretamento
• Departamentos de vôo corporativo

Categoria do operador	Contagem de clientes	Receita anual de serviço
Operadores de jato particulares	127 clientes	US $ 24,8 milhões
Departamentos de vôo corporativo	89 clientes	US $ 18,5 milhões

Aersale Corporation (ASLE) - Modelo de negócios: estrutura de custos

Aquisição e manutenção de inventário

Para o ano fiscal de 2023, a Aersale Corporation registrou custos totais de inventário de US $ 43,2 milhões. A quebra das despesas de aquisição de inventário inclui:

Categoria de inventário	Custo anual ($)
Inventário de peças de aeronaves	27,6 milhões
Inventário de componentes	9,8 milhões
Inventário de manutenção	5,8 milhões

Pesquisa e desenvolvimento

Em 2023, a Aersale alocou US $ 5,7 milhões às atividades de pesquisa e desenvolvimento, representando 3,2% da receita anual total.

• Projetos de inovação de engenharia: US $ 3,2 milhões
• Desenvolvimento de protótipo técnico: US $ 1,5 milhão
• Pesquisa de tecnologia aeroespacial: US $ 1 milhão

Pessoal técnico e salários de engenharia

Categoria de pessoal	Salário médio anual ($)	Custo total do pessoal ($)
Engenheiros seniores	142,000	4,26 milhões
Especialistas técnicos	98,000	3,92 milhões
Técnicos de suporte	72,000	2,88 milhões

Manutenção de instalações e equipamentos

Despesas de manutenção anual de instalações e equipamentos totais: US $ 7,5 milhões

• Manutenção da instalação: US $ 3,2 milhões
• Reparo e manutenção de equipamentos: US $ 2,8 milhões
• Modernização da infraestrutura: US $ 1,5 milhão

Despesas de marketing e vendas

Despesas de marketing e vendas para 2023: US $ 4,3 milhões

Atividade de marketing	Despesa ($)
Campanhas de marketing digital	1,2 milhão
Participação na feira	850,000
Compensação da equipe de vendas	2,25 milhões

Aersale Corporation (ASLE) - Modelo de negócios: fluxos de receita

Vendas de peças de aeronaves

No ano fiscal de 2023, a Aersale Corporation registrou receita de vendas de peças de aeronaves de US $ 173,4 milhões. A empresa é especializada na venda de peças de aeronaves comerciais e militares em vários segmentos de mercado.

Categoria de produto	Receita anual	Volume de vendas
Peças de aeronaves comerciais	US $ 98,6 milhões	4.750 unidades
Peças de aeronaves militares	US $ 74,8 milhões	3.200 unidades

Serviços de reparo e reforma de componentes

A Aersale gerou US $ 62,5 milhões em receita com serviços de reparo e reforma de componentes em 2023.

• Reparos de componentes do motor: US $ 28,3 milhões
• REFUMA DE AVIONICS: US $ 19,7 milhões
• Restauração de componentes estruturais: US $ 14,5 milhões

Leasing de aeronaves e gerenciamento de ativos

A receita de leasing de aeronaves para Aersale em 2023 foi de US $ 45,2 milhões, com uma frota de 37 aeronaves sob administração.

Tipo de aeronave	Número de aeronaves	Receita de arrendamento
Corpo estreito	24	US $ 29,6 milhões
Corpo largo	13	US $ 15,6 milhões

Taxas de consultoria técnica

Os serviços de consultoria técnica geraram US $ 18,7 milhões em receita durante 2023.

• Aviso Técnico de companhia aérea: US $ 10,2 milhões
• Consultoria de conformidade regulatória: US $ 5,5 milhões
• Serviços de otimização de frota: US $ 3,0 milhões

Contratos de suporte e manutenção de pós -venda

Os contratos de suporte e manutenção de pós -venda contribuíram com US $ 41,3 milhões para a receita da Aersale em 2023.

Tipo de contrato	Receita anual	Número de contratos
Acordos de manutenção de longo prazo	US $ 26,8 milhões	42 contratos
Contratos de apoio a curto prazo	US $ 14,5 milhões	87 contratos

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.