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Aircraft and Aircraft Engines Held for Lease or Sale (Tables)

12 Months Ended

Dec. 31, 2016

Aircraft and Aircraft Engines Held for Lease or Sale [Abstract]

Aircraft and aircraft engines held for lease

At December 31, 2016 and December 31, 2015, the Company's aircraft and aircraft engines held for lease consisted of the following:

	December 31,2016					December 31,2015
Type	Number owned		% of net book value			Number owned		% of net book value
Turboprop aircraft		12		23	%		16		45	%
Regional jet aircraft		12		73	%		8		49	%
Engines		4		4	%		5		6	%

Minimum future lease revenue payments receivable under noncancelable operating leases

As of December 31, 2016, minimum future lease revenue payments receivable under noncancelable operating leases were as follows:

Years ending

2017	$	26,505,700
2018		22,727,900
2019		22,299,700
2020		19,665,200
2021		12,343,000
Thereafter		30,908,100
	$	134,449,600

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details