Concentration of Credit Risk

12 Months Ended

Dec. 31, 2018

Concentration of Credit Risk [Abstract]

5.	Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash deposits and receivables. The Company places its deposits with financial institutions and other creditworthy issuers and limits the amount of credit exposure to any one party.

For the year ended December 31, 2018, the Company had five significant customers, four of which individually accounted for 30%, 21%, 15% and 13%, respectively, of operating lease revenue and one of which accounted for 67% of finance lease revenue. For the year ended December 31, 2017, the Company had five significant customers, four of which individually accounted for 28%, 20%, 14% and 11%, respectively, of operating lease revenue and one of which accounted for 75% of finance lease revenue.

At December 31, 2018, the Company had receivables from three customers totaling $3,413,500 and representing 87% of the Company’s total accounts receivable. In early 2019 through the date of this report, the Company has received payments totaling $1,564,800 related to these receivables.

At December 31, 2017, the Company had receivables from four customers totaling $2,959,200 and representing 77% of the Company’s total accounts receivable, as well as receivables totaling $779,700 for parts sales related to its aircraft held for sale.