COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Jun. 30, 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 June 30, 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.



	Nine Months Ending March 31, 2019		Fiscal Year Ending March 31,
	Nine Months Ending March 31, 2019		2020		2021		2022		2023 and thereafter⁽¹⁾		Total
Commitments as of June 30, 2018:
Number of aircraft:
Large	1		—		4		5		13		23
U.K. SAR	—		4		—		—		—		4
	1		4		4		5		13		27
Related commitment expenditures (in thousands) ⁽²⁾
Large	$	19,792	$	24,829	$	76,547	$	84,972	$	192,426	$	398,566
U.K. SAR	—		61,226		—		—		—		61,226
	$	19,792	$	86,055	$	76,547	$	84,972	$	192,426	$	459,792
Options as of June 30, 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 $93.0 million for five aircraft orders that can be cancelled prior to delivery dates. We 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.

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 June 30, 2018:



	End of Lease Term		Number of Aircraft
	Nine months ending March 31, 2019 to fiscal year 2020		43
	Fiscal year 2021 to fiscal year 2023		32
	Fiscal year 2024 to fiscal year 2025		11
			86

Schedule of separation programs

The expense related to the ISPs for the three months ended June 30, 2018 and 2017 is as follows (in thousands):



	Three Months Ended June 30,
	2018		2017
Direct cost	$	1,501	$	1,070
General and administrative	218		7,609
Total	$	1,719	$	8,679