Lease Rental Revenues and Flight Equipment Held for Lease (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Annual future minimum lease rentals receivable

Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2020 were as follows:

Year Ending December 31,	Amount(1)
Remainder of 2020	$	391,123
2021	665,509
2022	582,359
2023	502,207
2024	390,977
Thereafter	460,916
Total	$	2,993,091

As of June 30, 2020, Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows:

Year Ending December 31,	Amount
Remainder of 2020	$	924
2021	1,892
2022	1,806
2023	1,696
2024	1,727
Thereafter	6,113
Total	$	14,158

Geographic concentration of lease rental revenue earnings

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	2020		2019		2020		2019
Asia and Pacific	44	%	44	%	43	%	43	%
Europe	29	%	28	%	27	%	28	%
Middle East and Africa	5	%	10	%	7	%	11	%
North America	10	%	8	%	11	%	8	%
South America	12	%	10	%	12	%	10	%
Total	100	%	100	%	100	%	100	%

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	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	4	29%	3	21%	4	27%	3	21%

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	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	4	29%	3	21%	4	27%	3	21%

The following table sets forth revenue attributable to individual countries representing at least 10% of Total revenue (including maintenance and other revenue) based on each lessee’s principal place of business for the periods indicated:

	Three Months Ended June 30,								Six Months Ended June 30,
	2020				2019				2020				2019
Country	Revenue		% of Total Revenue		Revenue		% of Total Revenue		Revenue		% of Total Revenue		Revenue		% of Total Revenue
India(1)	$	—	—	%	$	42,312	19	%	$	—	—	%	$	61,638	14	%
Mexico(2)	67,922		27	%	—		—	%	74,954		14	%	—		—	%
South Africa(3)	—		—	%	—		—	%	57,920		11	%	—		—	%

_______________

(1) For both the three and six months ended June 30, 2019, total revenue attributable to India included $17,554 of maintenance revenue recognized into revenue. For the three and six months ended June 30, 2020, total revenue attributable to India was less than 10%.

(2) For the three and six months ended June 30, 2020, total revenue attributable to Mexico included $54,436 of maintenance revenue and $12,834 of security deposits recognized into revenue. For the three and six months ended June 30, 2019, total revenue attributable to Mexico was less than 10%.

(3)

For the three and six months ended June 30, 2020, total revenue attributable to South Africa included $263 and $39,067 of maintenance revenue, respectively, $8,740 of lease rentals received in advance and $5,863 of security deposits recognized into revenue. For the three and six months ended June 30, 2019, total revenue attributable to South Africa was less than 10%.

Geographic concentration of net book value of flight equipment held for lease

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

	June 30, 2020				December 31, 2019
Region	Number of Aircraft		Net Book Value %		Number of Aircraft		Net Book Value %
Asia and Pacific	89		39	%	94		38	%
Europe	98		27	%	99		26	%
Middle East and Africa	11		4	%	16		7	%
North America	28		10	%	40		13	%
South America	26		13	%	26		15	%
Off-lease	22	(1)	7	%	3	(2)	1	%
Total	274		100	%	278		100	%

 

_______________

(1) Consisted of one Airbus A320-200 and one Airbus A330-200 aircraft, each of which are scheduled to be delivered during the third quarter of 2020 to lessees in North America and Europe, respectively, and one Airbus A319-100, eleven Airbus A320-200, five Airbus A330-200 and three Boeing 737-800 aircraft, which we are marketing for lease or sale.

(2)

Consisted of one Airbus A320-200 aircraft, which was delivered on lease to a customer in Europe during the first quarter of 2020, one Airbus A330-200 aircraft, which is scheduled to be delivered to a customer in Europe during the third quarter of 2020, and one Boeing 737-800 aircraft, which was sold during the first quarter of 2020.

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]

The following table sets forth net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in leases) attributable to individual countries representing at least 10% of net book value of flight equipment based on each lessee’s principal place of business as of:

	June 30, 2020				December 31, 2019
Country	Net Book Value		Net Book Value %	Number of Lessees	Net Book Value		Net Book Value %	Number of Lessees
India	$	901,093	13%	4	$	924,190	12%	4