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Subsequent Events
12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events
11. Subsequent Events

In January 2013, the lessee of two of the Company's Fokker 100 aircraft declared bankruptcy and is in the process of returning the aircraft prior to the scheduled lease expirations in March 2013.  The Company holds $660,000 of security deposits and $6,528,500 received from the prior lessee when its two aircraft leases were assigned to the new lessee upon sale of the original lessee's assets in 2012.  Such payment will be recognized as maintenance reserves revenue in the first quarter of 2013, upon termination of the leases.

In January 2013, the Company purchased two spare TAY650 engines, which will be held and used in connection with maintenance on the Company's Fokker 100 aircraft.

In January 2013, the Company received notice that a vendor contracted by one of the Company's former customers, which filed for bankruptcy in April 2012, had filed suit against the Company to enforce a lien placed on the aircraft by the vendor for unpaid maintenance work.  The Company intends to contest the basis for the Company's liability for the amount claimed, as well as the validity of the amount of the lien.  The Company believes that if the litigation is not resolved in the Company's favor, it will not have a material adverse effect on the Company's financial condition or results of operations.

During February 2013, the Company and the lessee for one of the Company's aircraft reached a settlement in connection with litigation initiated by the lessee in 2012 regarding the return of the aircraft.  Pursuant to the settlement, the Company and the lessee have agreed to a sale of the aircraft to the lessee.  The Company has received a non-refundable deposit and expects the sale to occur in the second quarter of 2013.

In March 2013, the Company's Credit Facility was increased to $130 million and extended to September 30, 2015, on terms similar to the original agreement.

In March 2013, the Company received proceeds for the sale of one of its Fokker 50 aircraft, which is expected to close by month-end.