Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Operating activities:
Net (loss)/income	$ (1,450,400)	$ 1,648,100
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:
Gain on disposal of assets	(1,371,000)	(416,000)
Depreciation	5,598,900	7,395,700
Non-cash interest	1,338,900	1,270,600
Non-cash income	0	(8,000)
Provision for bad debts, net of recoveries	0	75,800
Deferred taxes	(672,100)	778,800
Changes in operating assets and liabilities:
Accounts receivable	(928,900)	577,700
Finance lease receivable	225,200	0
Taxes receivable	6,000	(7,000)
Prepaid expenses and other	(152,200)	(2,380,500)
Accounts payable and accrued expenses	(194,400)	(18,600)
Accrued interest on notes payable	349,900	17,300
Maintenance reserves and accrued costs	(889,800)	(3,050,800)
Security deposits	1,048,100	(799,100)
Prepaid rent	(19,000)	(454,500)
Taxes payable	20,400	(5,100)
Net cash provided by operating activities	2,909,600	4,624,400
Investing activities:
Proceeds from sale of aircraft and aircraft engine, net of re-sale fees	2,101,500	2,789,900
Proceeds from insurance	1,699,900	0
Purchases of aircraft and aircraft engines	(7,521,400)	(9,098,900)
Net cash used in investing activities	(3,720,000)	(6,309,000)
Financing activities:
Borrowings under Credit Facility	6,500,000	13,000,000
Repayments of Credit Facility	(4,300,000)	(3,500,000)
Repayments of Subordinated Notes	(2,343,500)	(7,118,500)
Net cash (used in)/provided by financing activities	(143,500)	2,381,500
Net (decrease)/increase in cash and cash equivalents	(953,900)	696,900
Cash and cash equivalents, beginning of year	1,949,400	1,252,500
Cash and cash equivalents, end of year	$ 995,500	$ 1,949,400