Operating Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Operating Segments

The Company operates in one business segment, the leasing of regional aircraft to foreign and domestic regional airlines, and therefore does not present separate segment information for lines of business.

Approximately 50% and 30% of the Company’s operating lease revenue was derived from lessees domiciled in the United States during 2020 and 2019, respectively. All revenues relating to aircraft leased and operated internationally, with the exception of rent payable in Euros for two of the Company’s aircraft, are denominated and payable in U.S. dollars.

The tables below set forth geographic information about the Company’s operating lease revenue and net book value for leased aircraft and aircraft equipment, grouped by domicile of the lessee: 

	For the Years Ended December 31,
Operating Lease Revenue	2020		2019
North America	$	10,119,100	$	10,119,100
Europe and United Kingdom		5,349,000		15,174,900
Asia		-		315,000
	$	15,468,100	$	25,609,000

	December 31,
Net Book Value of Aircraft and Aircraft Engines Held for Lease	2020		2019
North America	$	30,433,100	$	63,799,600
Europe and United Kingdom		15,330,000		44,569,000
	$	45,763,100	$	108,368,600

The table below sets forth geographic information about the Company’s finance lease revenue, grouped by domicile of the lessee: 

	For the Years Ended December 31,
Finance Lease Revenue	2020		2019
Europe and United Kingdom	$	56,200	$	365,600
Africa		-		487,000
	$	56,200	$	852,600