Exhibit 99.4

AerSale Corp.

PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

ASSETS	AerSale Corp. Balance Sheet as of September 30, 2020		Monocle Acquisition Corp. Balance Sheet as of September 30, 2020			Pro Forma Adjustments			September 30, 2020 Pro forma Combined

Current assets:
Cash and cash equivalents	$	17,369,878		96,288	[A]		177,053,371			65,871,295
					[B]		60,500,000
					[C]		(165,768,236	)
					[D]		(2,677,160	)
					[D]		(7,631,765	)
					[E]		(13,071,081	)
Accounts receivable, net		38,957,481								38,957,481
Inventory:
Aircraft, airframes, engines, and parts		69,112,736								69,112,736
Advance vendor payments		10,530,062								10,530,062
Deposits, prepaid expenses, and other current assets		7,129,485		136,873	[D]		(136,873	)		7,129,485
Due from related party		830,369								830,369
Total current assets		143,930,011		233,161			48,268,256			192,431,428
Fixed assets:
Aircraft and engines held for lease, net		85,959,095								85,959,095
Property and equipment, net		7,838,606								7,838,606
Inventory:
Aircraft, airframes, engines, and parts		44,724,078								44,724,078
Deferred income tax asset, net		3,413,572								3,413,572
Deferred financing costs, net		534,616								534,616
Deferred customer incentives and other assets, net		270,782								270,782
Goodwill		19,860,168								19,860,168
Intangible asset		28,899,377								28,899,377
Due from related party		5,449,739								5,449,739
Cash and marketable securities held in Trust Account		-		177,053,371	[A]		(177,053,371	)		-
Total assets	$	340,880,044		177,286,532			(128,785,115	)		389,381,461
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable		15,751,468								15,751,468
Accrued expenses		8,812,043		677,106	[D]		(677,106	)		6,875,116
					[D]		(2,136,927	)
					[D]		200,000
Promissory note - related party		-		150,000	[D]		(150,000	)		-

Lessee and customer purchase deposits		2,756,987								2,756,987
Deferred revenue		5,554,252								5,554,252
Total current liabilities	$	32,874,750		827,106			(2,764,033	)		30,937,823
Long-term lease deposits		1,144,771								1,144,771
Maintenance deposit payments and other liabilities		5,034,469								5,034,469
COMMITMENTS AND CONTINGENCIES
Common stock subject to possible redemption		-		171,459,418	[F]		(171,459,418	)		-
STOCKHOLDERS' EQUITY:
Preferred stock		2,000			[G]		(2,000	)		-
NewCo common stock		-		-	[L]		4,105			4,105
NewCo additional paid-in capital		-		-	[H]		243,218,738			293,655,477
					[I]		500
					[G]		2,000
					[J]		530
					[H]		4,225,951
					[K]		773,527
					[F]		171,459,418
					[C]		(165,768,236	)
					[B]		60,500,000
					[D]		150,000
					[D]		(200,000	)
					[E]		(13,071,081	)
					[D]		(7,631,765	)
					[L]		(4,105	)
Common stock		500		530	[I]		(500	)		-
					[J]		(530	)
Additional paid-in capital		243,218,738		4,225,951	[H]		(243,218,738	)		-
					[H]		(4,225,951	)
Retained earnings		58,604,816		773,527	[K]		(773,527	)		58,604,816
Total stockholders' equity		301,826,054		5,000,008			45,438,336			352,264,398
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	340,880,044		177,286,532			(128,785,115	)		389,381,461

[A]

Reflects the reclassification of cash and cash equivalents outside the Trust Account that becomes available in connection with the Business Combination.

[B]

Reflects $60.5 million cash proceeds in consideration for 7.6125 million common shares issued to Common Equity Investors.

[C]

Reflects the withdrawal of funds from the Trust Account and cash on hand to fund redemption of 16,153,589 shares of Monocle Common Stock at approximately $10.262 per share.

[D]

Reflects adjustments related to the payment of transaction expenses, including, but not limited to, promissory note, advisory fees, legal fees and registration fees. This adjustment includes a reduction to accrued expenses or prepaid expenses for any previously incurred or prepaid transaction costs that are in connection with the consummation of the Business Combination, and netted with the total Closing costs. Similarly, included in this adjustment, is the addition to accrued expenses for transactions costs to be paid post Business Combination by NewCo.

[E]

Reflects $13.1 million Aggregate Cash Consideration to be paid to existing AerSale Stockholders and SAR Holders in exchange for their ownership shares of AerSale.

[F]

Reflects the reclassification of Monocle Common Stock subject to possible redemption to permanent equity.

[G]

Represents the re-capitalization of shares of AerSale Preferred Stock to NewCo additional paid-in capital.

[H]

Represents the classification of additional paid-in capital to NewCo additional paid-in capital.

[I]

Represents the re-capitalization of shares of AerSale Common Stock to NewCo additional paid-in capital.

[J]

Reflects the re-capitalization of Monocle Common Stock to NewCo additional paid-in capital.

[K]

Reflects the re-capitalization of Monocle’s retained earnings to NewCo additional paid-in capital.

[L]

Reflects the classification of NewCo common stock at par value $0.0001 per share.

AerSale Corp.

PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

	AerSale Corp. Statement of Operations For the nine months ended September 30, 2020			Monocle Acquisition Corp. Statement of Operations For the nine months ended September 30, 2020				Pro Forma Adjustments			Condensed Combined Statement of Operations For the nine months ended September 30, 2020
	Unaudited			Unaudited
Revenue:
Products		37,726,383										37,726,383
Leasing		47,637,093										47,637,093
Services		74,192,768										74,192,768
Total net revenue		159,556,244										159,556,244
Cost of sales and operating expenses:
Cost of products		41,206,646										41,206,646
Cost of leasing		21,315,784										21,315,784
Cost of services		57,369,877										57,369,877
Total cost of sales		119,892,307										119,892,307
Gross profit		39,663,937										39,663,937
Selling, general, and administrative expenses		40,614,124			226,480		[AA]		(226,480	)		40,614,124
CARES Act proceeds		(12,692,702	)									(12,692,702	)
Transaction expenses		433,681					[BB]		(433,681	)		-
Income (loss) from operations		11,308,834			(226,480	)			660,161			11,742,515
Other income (expenses):
Interest income (expense), net		(1,306,977	)		16,021		[AA]		(16,021	)		(1,306,977	)
Other income, net		358,137										358,137
Total other (expenses) income		(948,840	)		16,021				(16,021	)		(948,840	)
Income (loss) from operations before income tax provision		10,359,994			(210,459	)			644,140			10,793,675
Income tax (expense) benefit		(2,519,305	)		7,136				(155,702	)		(2,667,871	)
Net income (loss)		7,840,689			(203,323	)			488,438			8,125,804
Dividends attributable to preferred stockholders		18,582,068			-		[CC]		(18,582,068	)		-
Net (loss) income from operations attributable to AerSale Corp. common shareholders		(10,741,379	)		(203,323	)			19,070,506			8,125,804
(Loss) earnings per share - basic and diluted:
Net (loss) earnings per share from operations		(214.83	)		(0.04	)	[DD]					0.20

Notes:

[AA]

Reflects the elimination of Monocle’s historical operation costs and interest income on the trust account and related tax impact that would not have been incurred had the Business Combination been consummated on January 1, 2019. The effective tax rate assumed for both Monocle and AerSale is 24.2%. Operating expenses during 2020 not related to the Business Combination were insignificant.

[BB]

Elimination of transaction expenses related to the Business Combination incurred in the period ended September 30, 2020.

[CC]

Reflects the elimination of the Dividends from the AerSale Preferred Stock.

[DD]

Represents 41,046,216 weighted average shares comprised of 1,096,411 shares currently owned by Monocle public stockholders, 1,592,188 shares currently owned by Initial Stockholders and Cowen plus 30,382,680 shares to be issued to existing AerSale shareholders, 7,612,500 shares to be issued to PIPE investors and 362,437 shares to be issued to advisors. All shares are assumed to have been issued on January 1, 2019.

AerSale Corp.

PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

	AerSale Corp. Statement of Operations For the year ended December 31, 2019			Monocle Acquisition Corp. Statement of Operations For the year ended December 31, 2019				Pro Forma Adjustments			Condensed Combined Statement of Operations For the year ended December 31, 2019

Revenue:
Products		170,566,047										170,566,047
Leasing		64,245,884										64,245,884
Services		69,389,272										69,389,272
Total net revenue		304,201,203										304,201,203
Cost of sales and operating expenses:
Cost of products		131,671,553										131,671,553
Cost of leasing		29,217,035										29,217,035
Cost of services		58,263,856										58,263,856
Total cost of sales		219,152,444										219,152,444
Gross profit		85,048,759										85,048,759
Selling, general, and administrative expenses		59,813,607			1,573,512		[AA]		(1,573,512	)		59,813,607
Transaction expenses		3,176,797					[BB]		(3,176,797	)
Income (loss) from operations		22,058,355			(1,573,512	)			4,750,309			25,235,152
Other income (expenses):
Interest income (expense), net		(3,006,663	)		3,164,817		[AA]		(3,164,817	)		(3,006,663	)
Other income (expenses), net		611,109										611,109
Total other (expenses) income		(2,395,554	)		3,164,817				(3,164,817	)		(2,395,554	)
Income from operations before income tax provision		19,662,801			1,591,305				1,585,492			22,839,598
Income tax (expense)		(4,163,663	)		(627,795	)			(383,245	)		(5,174,703	)
Net income		15,499,138			963,510				1,202,247			17,664,895
Dividends attributable to preferred stockholders		34,632,836			-		[CC]		(34,632,836	)		-
Net (loss) income from operations attributable to AerSale Corp. common shareholders		(19,133,698	)		963,510				35,835,083			17,664,895
(Loss) earnings per share - basic and diluted:
Net (loss) earnings per share from operations		(382.67	)		(0.28	)	[DD]					0.43

Notes:

[AA]

Reflects the elimination of Monocle’s historical operation costs and interest income on the trust account and related tax impact that would not have been incurred had the Business Combination been consummated on January 1, 2019. The effective tax rate assumed for both Monocle and AerSale is 24.2%. Operating expenses during 2019 not related to the Business Combination were insignificant.

[BB]

Elimination of transaction expenses related to the Business Combination incurred in the year ended December 31, 2019.

[CC]

Reflects the elimination of the Dividends from the AerSale Preferred Stock.

[DD]

Capitalization Table

	September 30, 2020
	Historical				Pro Forma
	Monocle		AerSale		Combined
Cash and cash equivalents		96,288		17,369,878		65,871,295
Investment held in trust		177,053,371		-		-
		177,149,659		17,369,878		65,871,295

Monocle Common Stock, subject to possible redemption		171,459,418		-		-
AerSale Preferred Stock		-		2,000		-
Stockholders’ equity		5,000,008		301,824,054		352,264,398
Total capitalization		176,459,426		301,826,054		352,264,398

Historical Comparative Share Information

	Monocle Year Ended December 31, 2019			Monocle Nine Months Ended September 30, 2020			AerSale Year Ended December 31, 2019			AerSale Nine Months Ended September 30, 2020			Pro Forma Combined Nine Months Ended September 30, 2020
Book value per share ⁽¹⁾	$	1.01		$	0.99		$	5,879.71		$	6,036.52		$	8.58
Basic and diluted net income (loss) per share	$	(0.28	)	$	(0.04	)	$	(383.00	)	$	(214.83	)	$	0.20
Cash dividends per share	$	0		$	0			n/a			n/a			n/a

(1)

Book value per share = Total equity/shares outstanding. For the pro forma combined book value per share, total equity does not include the Unvested Founder Shares and is derived using 41,046,216 shares.