Maintenance Reserves and Accrued Maintenance Costs (Tables)

12 Months Ended

Dec. 31, 2013

Maintenance Reserves and Accrued Maintenance Costs [Abstract]

Summary of the company's maintenance reserves and accruals

At December 31, 2013 and December 31, 2012, the Company’s maintenance reserves and accrued maintenance costs consisted of the following:

	December 31, 2013		December 31, 2012
Refundable maintenance reserves	$	10,480,000	$	14,477,400
Accrued maintenance costs		2,774,100		878,700
	$	13,254,100	$	15,356,100

Additions to and deductions from the company's accrued maintenance cost for aircraft maintenance

Additions to and deductions from the Company’s accrued maintenance costs during the years ended December 31, 2013 and 2012 for aircraft maintenance were as follows:

	For the Years Ended December 31,
	2013		2012
Balance, beginning of period	$	878,700	$	1,013,400
Additions:
Charged to expense		8,765,000		4,082,100
Capital equipment		482,900		52,200
Accrued claims related to refundable maintenance reserves		745,600		763,900
Prepaid maintenance and other		1,114,000		239,700
Total additions		11,107,500		5,137,900
Deductions:
Payments		8,297,700		4,614,900
Other		914,400		657,700
Total deductions		9,212,100		5,272,600
Net increase/(decrease) in accrued maintenance costs		1,895,400		(134,700	)
Balance, end of period	$	2,774,100	$	878,700