Maintenance and Accrued Costs (Tables)

6 Months Ended

Jun. 30, 2012

Maintenance and Accrued Costs [Abstract]

Summary of the company's maintenance reserves and accruals

The accompanying balance sheets reflect refundable maintenance payments billed to lessees based on usage and accrued maintenance costs for off-lease aircraft and lessee maintenance claims for non-refundable maintenance reserves as liabilities.  At June30, 2012 and December 31, 2011, the Company's maintenance reserves and accruals consisted of the following:

	June 30, 2012		December 31, 2011
Refundable maintenance reserves	$	6,265,600	$	4,801,300
Accrued maintenance costs		1,616,000		1,013,400
	$	7,881,600	$	5,814,700

Additions to and deductions from the company's accrued maintenance cost for aircraft maintenance

Additions to and deductions from the Company's accrued maintenance costs during the six months ended June 30, 2012 and 2011 for aircraft maintenance were as follows:

	For Six Months Ended June 30,
	2012			2011
Balance, beginning of period	$	1,013,400		$	2,446,800
Additions:
Charged to expense		2,378,500			7,909,000
Reversals of previously accrued maintenance costs		(11,400	)		(401,300	)
Total maintenance expense		2,367,100			7,507,700
Capital equipment		64,800			242,600
Accrued claims related to refundable maintenance reserves		578,100			81,200
Prepaid maintenance		32,900			201,100
Total additions		3,042,900			8,032,600
Deductions:
Payments		1,960,500			6,915,500
Other		479,800			607,000
Total deductions		2,440,300			7,522,500
Net increase in accrued maintenance costs		602,600			510,100
Balance, end of period	$	1,616,000		$	2,956,900