Lease Rental Revenues and Flight Equipment Held for Lease

6 Months Ended

Jun. 30, 2018

Leases [Abstract]

Lessor, Operating Leases [Text Block]

Lease Rental Revenues and Flight Equipment Held for Lease

Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2018 were as follows:

Year Ending December 31,	Amount
Remainder of 2018	$	373,563
2019	679,349
2020	576,304
2021	459,712
2022	367,244
Thereafter	725,712
Total	$	3,181,884

Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
Region	2018		2017		2018		2017
Asia and Pacific	35	%	37	%	35	%	39	%
Europe	29	%	24	%	29	%	23	%
Middle East and Africa	11	%	12	%	11	%	12	%
North America	8	%	8	%	8	%	7	%
South America	17	%	19	%	17	%	19	%
Total	100	%	100	%	100	%	100	%

The classification of regions in the tables above and in the table and discussion below is determined based on the principal location of the lessee of each aircraft.

The following table shows the number of lessees with lease rental revenue of at least 5% and their combined total percentage of lease rental revenue for the years indicated:

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	Number of Lessees	Combined % of Lease Rental Revenue	Number of Lessees	Combined % of Lease Rental Revenue	Number of Lessees	Combined % of Lease Rental Revenue	Number of Lessees	Combined % of Lease Rental Revenue
Largest lessees by lease rental revenue	3	19%	3	19%	3	19%	3	19%

At June 30, 2018 and December 31, 2017, no country represented at least 10% of total revenue based on each counterparty’s principal place of business.

Geographic concentration of net book value of flight equipment (including flight equipment held for lease and net investment in finance and sales-type leases, or “net book value”) was as follows:

	June 30, 2018			December 31, 2017
Region	Number of Aircraft	Net Book Value %		Number of Aircraft		Net Book Value %
Asia and Pacific	62	30	%	59		30	%
Europe	87	30	%	92		32	%
Middle East and Africa	17	9	%	15		9	%
North America	36	12	%	32		10	%
South America	26	19	%	25		19	%
Off-lease	—	—	%	1	(1)	—	%
Total	228	100	%	224		100	%

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(1) Consisted of one Airbus A321-200 aircraft, which was delivered on lease to a customer in the second quarter of 2018.

At June 30, 2018 and December 31, 2017, no country represented at least 10% of net book value of flight equipment based on each lessee’s principal place of business.

At June 30, 2018 and December 31, 2017, the amounts of lease incentive liabilities recorded in maintenance payments on our Consolidated Balance Sheets were $15,709 and $11,496, respectively.