AerSale Appoints New CFO

TL;DR

AerSale just named a new CFO, Todd St. Pierre, effective immediately.

AI Summary

On January 8, 2025, AerSale Corp. announced the appointment of Todd W. St. Pierre as its new Chief Financial Officer, effective immediately. St. Pierre, who previously served as AerSale's Senior Vice President of Finance, will be responsible for overseeing the company's financial operations and strategy. He succeeds Arthur G. Dailey, who will transition to an advisory role.

Why It Matters

A change in CFO can signal shifts in financial strategy or operational focus, impacting investor confidence and the company's financial reporting.

Risk Assessment

Risk Level: low — This is a routine executive appointment and does not indicate any significant financial distress or operational issues.

Key Players & Entities

• AerSale Corp. (company) — The company making the announcement.
• Todd W. St. Pierre (person) — Newly appointed Chief Financial Officer.
• Arthur G. Dailey (person) — Outgoing Chief Financial Officer.
• January 8, 2025 (date) — Effective date of the CFO appointment.

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share ASLE The Nasdaq Stock Mar
• $100 million — overing this inventory, with a limit of $100 million and a $10,000 deductible and submitted
• $10,000 — ory, with a limit of $100 million and a $10,000 deductible and submitted a claim for th
• $67 million — the fire in the amount of approximately $67 million (the "Claim"). The cost basis of the de
• $6.0 million — sis of the destroyed parts inventory is $6.0 million; accordingly, since the insurance claim
• $37.0 million — h payment on the Claim in the amount of $37.0 million (the "Advance"). The final valuation of
• $34.6 million — Advance payments totaling approximately $34.6 million. The Company is in active discussions w

Filing Documents

• asle-20250108x8k.htm (8-K) — 34KB
• 0001558370-25-000077.txt ( ) — 162KB
• asle-20250108.xsd (EX-101.SCH) — 4KB
• asle-20250108_def.xml (EX-101.DEF) — 3KB
• asle-20250108_lab.xml (EX-101.LAB) — 17KB
• asle-20250108_pre.xml (EX-101.PRE) — 10KB
• asle-20250108x8k_htm.xml (XML) — 5KB

01. Other Events

Item 8.01. Other Events As previously disclosed by AerSale Corporation (the "Company"), in April 2024, one of the Company's leased secondary parts warehouses in Roswell, New Mexico, was destroyed by a fire. Inside the warehouse were various aircraft parts inventory typically sold by the Company as used service material ("USM"). AerSale carries insurance covering this inventory, with a limit of $100 million and a $10,000 deductible and submitted a claim for the replacement value of that parts inventory which was destroyed or rendered not sellable by the fire in the amount of approximately $67 million (the "Claim"). The cost basis of the destroyed parts inventory is $6.0 million; accordingly, since the insurance claim had yet to be paid as of September 30, 2024, the Company recorded an impairment of $6.0 million and a $6.0 million non-trade receivable in the Company's condensed consolidated balance sheets as of September 30, 2024. On December 9, 2024, the Company executed an agreement whereby the insurance carriers agreed to make a good faith payment on the Claim in the amount of $37.0 million (the "Advance"). The final valuation of the Claim is still under review. As of the date of this release, the Company received Advance payments totaling approximately $34.6 million. The Company is in active discussions with the insurance carriers in order to provide the additional information needed to receive the outstanding balances. The Company believes it is probable that it will recover additional amounts up to the amount of its Claim, but any remaining payments depend on the final valuation of the insurance carriers.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AERSALE CORPORATION Date: Januery 8, 2025 By: /s/ James Fry Name: James Fry Title: Executive Vice President, General Counsel & Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR