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

6 Months Ended

Jun. 30, 2017

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

Aircraft and aircraft engines held for lease

At June 30, 2017 and December 31, 2016, the Company's aircraft and aircraft engines held for lease consisted of the following:

	June 30, 2017					December 31, 2016
Type	Number owned		% of net book value			Number owned		% of net book value
Turboprop aircraft		11		21	%		12		23	%
Regional jet aircraft		14		77	%		12		73	%
Engines		1		2	%		4		4	%

Minimum future lease revenue payments receivable

As of June 30, 2017, minimum future lease revenue payments receivable under noncancelable operating leases were as follows:

Years ending

Remainder of 2017	$	13,271,400
2018		24,683,000
2019		24,255,200
2020		21,803,000
2021		14,701,600
Thereafter		39,294,700
	$	138,008,900

- 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