Aircraft Lease Assets (Tables)

12 Months Ended

Dec. 31, 2019

Aircraft Lease Assets [Abstract]

Aircraft and aircraft engines held for lease

	December 31, 2019					December 31, 2018
Type	Number Owned		% of net book value			Number owned		% of net book value
Regional jet aircraft		9		80	%		13		81	%
Turboprop aircraft		2		20	%		4		18	%
Engines		-		-	%		1		1	%

Minimum future lease revenue payments receivable

Years ending December 31
2020	$	17,650,900
2021		10,392,000
2022		8,639,600
2023		8,639,600
2024		6,826,100
Thereafter		1,683,300
	$	53,831,500

Net investment included in finance leases and direct financing leases receivable

	December 31, 2019			December 31, 2018
Gross minimum lease payments receivable	$	9,096,400		$	17,107,100
Less unearned interest		(286,600	)		(1,856,200	)
Difference between minimum lease payments receivable and collateral value of leases		(7,700	)		-
Finance leases receivable	$	8,802,100		$	15,250,900

Minimum future payments receivable under finance leases

Years ending December 31
2020	$	3,817,200
2021		2,608,200
2022		2,114,000
2023		557,000
	$	9,096,400

Changes in allowance for doubtful accounts

Balance, December 31, 2018	$	-
Additions charged to expense		2,908,600
Balance, December 31, 2019	$	2,908,600