COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

As shown in the table below, we expect to make additional capital expenditures over the next five fiscal years to purchase additional aircraft. As of March 31, 2016, we had 36 aircraft on order and options to acquire an additional 14 aircraft. Although a similar number of our existing aircraft may be sold during the same period, the additional aircraft on order will provide incremental fleet capacity in terms of revenue and operating income.



	Fiscal Year Ending March 31,
	2017		2018		2019		2020 and beyond		Total
Commitments as of March 31, 2016: ⁽¹⁾
Number of aircraft:
Medium	10		—		—		—		10
Large	—		5		4		9		18
U.K. SAR	4		4		—		—		8
	14		9		4		9		36
Related expenditures (in thousands)⁽²⁾
Medium and large	$	49,746	$	66,044	$	60,455	$	109,341	$	285,586
U.K. SAR	55,503		58,208		—		—		113,711
	$	105,249	$	124,252	$	60,455	$	109,341	$	399,297
Options as of March 31, 2016:
Number of aircraft:
Medium	—		6		—		—		6
Large	—		6		2		—		8
	—		12		2		—		14

Related expenditures (in thousands) ⁽²⁾	$	61,629	$	179,471	$	30,410	$	—	$	271,510

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⁽¹⁾	Signed client contracts are currently in place that will utilize eight of these aircraft.


⁽²⁾	Includes progress payments on aircraft scheduled to be delivered in future periods.

Rollforward schedule of aircraft purchase orders and options

The following chart presents an analysis of our aircraft orders and options during fiscal years 2016, 2015 and 2014:



	Fiscal Year Ended March 31,
	2016				2015				2014
	Orders		Options		Orders		Options		Orders		Options
Beginning of fiscal year	45		30		43		55		45		70
Aircraft delivered	(8	)	—		(18	)	—		(21	)	—
Aircraft ordered	—		—		8		—		18		—
New options	—		4		—		—		—		—
Exercised options	(1	)	—		12		(12	)	8		(8	)
Expired options	—		(20	)	—		(13	)	—		(7	)
Orders assigned subject to leaseback ⁽¹⁾	—		—		—		—		(7	)	—
End of fiscal year	36		14		45		30		43		55

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⁽¹⁾	During fiscal year 2014, we transferred our interest in seven aircraft previously ordered in return for $106.1 million in progress payments previously paid on these aircraft.

Schedule of future minimum payments for operating leases

As of March 31, 2016, aggregate future payments under all non-cancelable operating leases that have initial or remaining terms in excess of one year, including leases for 87 aircraft, are as follows (in thousands):



	Aircraft		Other		Total
Fiscal year ending March 31,
2017	$	174,349	$	10,385	$	184,734
2018	154,156		10,595		164,751
2019	126,003		9,874		135,877
2020	86,449		8,189		94,638
2021	19,614		7,384		26,998
Thereafter	12,663		46,307		58,970
	$	573,234	$	92,734	$	665,968

Aircraft Lease Table

The following is a summary of the terms related to aircraft leased under operating leases with original or remaining terms in excess of one year as of March 31, 2016:



End of Lease Term	Number of Aircraft
Fiscal year 2017 to fiscal year 2018	20
Fiscal year 2019 to fiscal year 2021	44
Fiscal year 2022 to fiscal year 2024	23
	87