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of Contents](#TOC)\n\n​\n\n​\n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n​\n\n**FORM****10-Q**\n\n​\n\n**(Mark One)**\n\n​\n\n☒   **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n**For the quarterly period ended****March 31, 2026**\n\n​\n\n**OR**\n\n​\n\n☐   **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n**For the transition period from ___________ to ____________.**\n\n​\n\n**Commission file number****001-38801**\n\n​\n\n**AerSale Corporation**\n\n(Exact name of registrant as specified in its charter)\n\n​\n\n**Delaware**\n\n  ​ ​ ​\n\n**84-3976002**\n\n(State or other jurisdiction of\n\n​\n\n(I.R.S. Employer Identification No.)\n\nincorporation or organization)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**9850 NW 41**st**Street, Suite 400**\n\n​\n\n​\n\n**Doral****,****FL**\n\n​\n\n**33178**\n\n(Address of Principal Executive Offices)\n\n​\n\n(Zip Code)\n\n​\n\n**(****305****)****764-3200**\n\nRegistrant’s telephone number, including area code\n\n​\n\nN/A\n\n(Former name, former address and former fiscal year, if changed since last report)\n\n​\n\n​\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n​\n\n​\n\n​\n\n**Title of each class**\n\n**  ​ ​ ​**\n\n**Trading Symbol(s)**\n\n**  ​ ​ ​**\n\n**Name of each exchange on which registered**\n\nCommon stock, $0.0001 par value per share\n\n​\n\nASLE\n\n​\n\nThe Nasdaq Capital Market\n\n​\n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n​\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n​\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☒\n\nNon-accelerated filer\n\n☐\n\nSmaller reporting company\n\n☐\n\n​\n\n​\n\nEmerging growth company\n\n☐\n\n​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n​\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n​\n\nThe number of shares of Registrant’s common stock outstanding as of May 4, 2026 was 47,252,829.\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\n**TABLE OF CONTENTS**\n\n​\n\nPage\n\n[Forward-Looking Statements](#FORWARDLOOKINGSTATEMENTS_491665)\n\ni\n\n[**PART I – FINANCIAL INFORMATION**](#PARTIFINANCIALINFORMATION_126121)\n\n1\n\n[Item 1.](#ITEM1CONDENSEDCONSOLIDATEDFINANCIALSTATE)\n\n[Condensed Consolidated Financial Statements](#ITEM1CONDENSEDCONSOLIDATEDFINANCIALSTATE)\n\n1\n\n[Condensed Consolidated Balance Sheets (Unaudited)](#CondensedConsolidatedBalanceSheets_83547)\n\n1\n\n[Condensed Consolidated Statements of Operations (Unaudited)](#CondensedConsolidatedStatementsofOperati)\n\n2\n\n[Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)](#CondensedConsolidatedStatementsofStockho)\n\n3\n\n[Condensed Consolidated Statements of Cash Flows (Unaudited)](#CondensedConsolidatedStatementsofCashFlo)\n\n4\n\n[Notes to Condensed Consolidated Financial Statements (Unaudited)](#NOTESTOUNAUDITEDINTERIMCONDENSEDCONSOLID)\n\n5\n\n[Item 2.](#ITEM2MANAGEMENTSDISCUSSIONANDANALYSISOFF)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ITEM2MANAGEMENTSDISCUSSIONANDANALYSISOFF)\n\n19\n\n[Item 3.](#ITEM3QUANTITATIVEANDQUALITATIVEDISCLOSUR)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#ITEM3QUANTITATIVEANDQUALITATIVEDISCLOSUR)\n\n25\n\n[Item 4.](#ITEM4CONTROLSANDPROCEDURES_395134)\n\n[Controls and Procedures](#ITEM4CONTROLSANDPROCEDURES_395134)\n\n25\n\n[**PART II – OTHER INFORMATION**](#PARTIIOTHERINFORMATION_643009)\n\n26\n\n[Item 1.](#ITEM1LEGALPROCEEDINGS_531021)\n\n[Legal Proceedings](#ITEM1LEGALPROCEEDINGS_531021)\n\n26\n\n[Item 1A.](#ITEM1ARISKFACTORS_123300)\n\n[Risk Factors](#ITEM1ARISKFACTORS_123300)\n\n26\n\n[Item 2.](#ITEM2UNREGISTEREDSALESOFEQUITYSECURITIES)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#ITEM2UNREGISTEREDSALESOFEQUITYSECURITIES)\n\n26\n\n[Item 3.](#ITEM3DEFAULTSUPONSENIORSECURITIES_518662)\n\n[Defaults Upon Senior Securities](#ITEM3DEFAULTSUPONSENIORSECURITIES_518662)\n\n26\n\n[Item 4.](#ITEM4MINESAFETYDISCLOSURES_959435)\n\n[Mine Safety Disclosures](#ITEM4MINESAFETYDISCLOSURES_959435)\n\n26\n\n[Item 5.](#ITEM5OTHERINFORMATION_176860)\n\n[Other Information](#ITEM5OTHERINFORMATION_176860)\n\n26\n\n[Item 6.](#ITEM6EXHIBITS_628075)\n\n[Exhibits](#ITEM6EXHIBITS_628075)\n\n26\n\n[Signatures](#SIGNATURES_902406)\n\n28\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\n**FORWARD-LOOKING STATEMENTS**\n\nThis Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 (this “Quarterly Report”) contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this Quarterly Report may constitute forward-looking statements, and may include, but are not limited to, changes in the market for our services; changes in applicable laws or regulations; the ability to launch new services and products or to profitably expand into new markets; the sufficiency of our liquidity; our recovery of insurance proceeds for casualty losses; and expectations of other economic, business and/or competitive factors. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.\n\n​\n\nIn some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential”, or “continue,” or the negative of these terms or other similar expressions. The forward-looking statements in this Quarterly Report are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Quarterly Report and are subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking statements, including the following: disruptions in supply chain, including the inability to obtain certain components and raw materials from suppliers; factors that adversely impact the commercial aviation industry; the fluctuating market value of our aviation products; our ability to repossess mid-life commercial aircraft and engines (“Flight Equipment”) when a lessee defaults; success at our maintenance, repair and overhaul (“MRO”) facilities is dependent upon continued outsourcing by airlines; shortage of skilled personnel or work stoppages; the highly competitive nature of the markets in which we operate; risks associated with our international operations; risks from business acquisitions and integration of new businesses acquired; the unique risks we encounter by supplying equipment and services to the U.S. government; further consolidation of customers and suppliers in our markets; cyber or other security threats or disruptions; the significant capital expenditures that may be required to keep pace with technological developments in our industry; lack of ownership of certain intellectual property and tooling that is important to our business; litigation to protect our intellectual property; our dependence on our facilities, which are subject to physical and other risks that could disrupt production; risks from any improper conduct by our employees, agents, subcontractors, suppliers, business partners or joint ventures in which we participate; loss of services from key employees; the failure of our subcontractors to perform their contractual obligations; impacts from future outbreaks and infectious diseases on flight activity, demand for MRO and leasing services, our business partners or customers, and the related macro environment; our dependence on continued availability of financing to manage our business and to execute our business strategy, and unavailability of additional financing on terms acceptable to us; our failure to comply with the covenants in the documents governing our existing indebtedness; limitations on our current and future operations from restrictive covenants contained in documents governing our existing and future indebtedness; unanticipated changes in our tax provision; possible goodwill and intangible asset impairments; changes in interest rates, foreign currency exchange rates and swap counterparty risks; we are subject to significant government regulation and may need to incur significant expenses to comply with new or more stringent government regulation; compliance with U.S. and other anti-corruption laws, enhanced tariffs, export control laws, import and customs laws, trade and economic sanctions laws and other laws governing our operations; current or future regulatory proceedings or litigation including product liability, intellectual property disputes and other claims, and claims not adequately covered by insurance; the liens of Flight Equipment could exceed the value of such Flight Equipment; the risk that our leased aircraft engines are deemed accessions to the aircraft and our ability to repossess an engine is impaired; product and other liability claims not covered by insurance; the extensive environmental requirements with which we must comply; global climate change, or legal, regulatory or market responses to such change; the potential for another shutdown of the U.S. government and disruptions resulting therefrom; volatility in our stock price and the risk that a liquid trading market does not continue; lack of analyst coverage for our common stock; depressed stock price as a result of substantial future sales of our common stock, or the perception in the public markets that these sales may occur; the fact that we do not intend to pay dividends on our common stock for the foreseeable future; insolvency of our customers; the adverse effect of negative\n\ni\n\n[Table of Contents](#TOC)\n\neconomic conditions; and other factors described under the section titled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 10, 2026.\n\n​\n\nMoreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties.\n\n​\n\nYou should read this Quarterly Report and the documents that we reference in this Quarterly Report completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.\n\n​\n\nUnless otherwise stated or the context otherwise requires, references in this Quarterly Report to the “Company,” “AerSale,” “we,” “us,” “our” and similar terms refer to AerSale Corporation and its consolidated subsidiaries.\n\n​\n\n​\n\n​\n\nii\n\n[Table of Contents](#TOC)\n\n**PART I – FINANCIAL INFORMATION**\n\n​"}