AerSale Corporation reported a total revenue of $345.1 million for the fiscal year ending December 31, 2024, reflecting a 3.2% increase from $334.5 million in 2023. The growth was primarily driven by the TechOps segment, which saw an 8.6% rise in revenue to $129.6 million, attributed to higher maintenance, repair, and overhaul (MRO) service revenues. In contrast, the Asset Management Solutions segment experienced a slight increase of 0.1%, totaling $215.5 million, despite a significant decline in aircraft sales, which fell by 48.4% to $41.7 million. The overall gross profit for the company increased by 12.5% to $103.9 million, with notable contributions from the engine sales within the Asset Management Solutions segment, which saw a 51.2% increase in gross profit.
The company’s financial performance showed significant changes compared to the previous fiscal period, particularly in the Asset Management Solutions segment, where aircraft revenue decreased due to lower demand in the freighter market. However, engine revenue increased by 29.4%, driven by higher used serviceable material (USM) sales and leasing activities. The gross profit margin for aircraft sales improved to 34.8%, up from 28.1% in 2023, while engine margins rose to 39.1% from 33.4%, indicating a shift towards more profitable product lines.
Strategically, AerSale has focused on expanding its operational capabilities and geographic reach. The company operates six FAA-certified MRO facilities across the U.S. and has recently relocated its corporate headquarters to Doral, Florida, consolidating multiple support functions. As of December 31, 2024, AerSale employed 636 individuals, a slight decrease from the previous year, reflecting efforts to enhance operational efficiencies. The company continues to pursue growth opportunities through strategic acquisitions and the introduction of new engineered solutions, such as the AerSafe® and AerAware™ product lines, which have received FAA approvals.
Operationally, AerSale serves over 1,000 customers globally, with approximately 37% of its revenue derived from non-U.S. customers. The company has reported a strong customer retention rate, with nine of its top ten customers having been with the company for over five years. The company’s focus on providing integrated services across its segments has resulted in a high percentage of revenue from customers utilizing multiple service offerings, enhancing customer loyalty and recurring revenue streams.
Looking ahead, AerSale anticipates continued growth driven by the recovery of the commercial aviation sector and increased demand for MRO services. The company plans to leverage its existing capabilities to expand its government presence and introduce new engineered solutions, while also exploring opportunities in emerging international markets. However, the company remains cautious of potential risks, including supply chain disruptions and fluctuations in the commercial aviation industry, which could impact its operational performance and financial results.
About AerSale Corp
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