COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

As shown in the table below, we expect to make additional capital expenditures over the next seven fiscal years to purchase additional aircraft. As of March 31, 2018, we had 27 aircraft on order and options to acquire an additional four 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,
	2019		2020		2021		2022 and thereafter ⁽¹⁾		Total
Commitments as of March 31, 2018:
Number of aircraft:
Large	1		—		4		18		23
U.K. SAR	—		4		—		—		4
	1		4		4		18		27
Related commitment expenditures (in thousands)⁽²⁾
Large	$	19,912	$	26,154	$	80,633	$	292,204	$	418,903
U.K. SAR	—		64,494		—		—		64,494
	$	19,912	$	90,648	$	80,633	$	292,204	$	483,397
Options as of March 31, 2018:
Number of aircraft:
Large	2		2		—		—		4
	2		2		—		—		4

Related option expenditures (in thousands) ⁽²⁾	$	44,181	$	31,536	$	—	$	—	$	75,717

_______________


⁽¹⁾	Includes $98.0 million for five aircraft orders that can be cancelled prior to the delivery dates. We have made non-refundable deposits of $4.5 million related to these aircraft.


⁽²⁾	Includes progress payments on aircraft scheduled to be delivered in future periods only if options are exercised.

Rollforward schedule of aircraft purchase orders and options

The following chart presents an analysis of our aircraft orders and options during fiscal years 2018, 2017 and 2016:



	Fiscal Year Ended March 31,
	2018			2017				2016
	Orders		Options	Orders		Options		Orders		Options
Beginning of fiscal year	32		4	36		14		45		30
Aircraft delivered	(5	)	—	(9	)	—		(8	)	—
Aircraft ordered	—		—	5		—		—		—
New options	—		—	—		—		—		4
Exercised options	—		—	—		—		(1	)	—
Expired options	—		—	—		(10	)	—		(20	)
End of fiscal year	27		4	32		4		36		14

Schedule of future minimum payments for operating leases

As of March 31, 2018, aggregate future payments under all non-cancelable operating leases that have initial or remaining terms in excess of one year, including leases for 86 aircraft, are as follows (in thousands):



	Aircraft		Other		Total
Fiscal year ending March 31,
2019	$	158,763	$	9,959	$	168,722
2020	114,298		8,343		122,641
2021	50,507		8,234		58,741
2022	25,727		8,026		33,753
2023	12,239		8,130		20,369
Thereafter	4,676		32,730		37,406
	$	366,210	$	75,422	$	441,632

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, 2018:



End of Lease Term	Number of Aircraft
Fiscal year 2019 to fiscal year 2020	43
Fiscal year 2021 to fiscal year 2023	32
Fiscal year 2024 to fiscal year 2026	11
	86