Unconsolidated Equity Method Investment (Notes)

9 Months Ended

Nov. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Unconsolidated Equity Method Investment

Unconsolidated Equity Method Investments

We have a joint venture with Mizuho Leasing which has nine aircraft with a net book value of $301,862 at November 30, 2021.

	Amount
Investment in joint venture at February 28, 2021	$	35,377
Earnings from joint venture, net of tax	1,210
Investment in joint venture at November 30, 2021	$	36,587

On December 9, 2021, we entered into a loan agreement to provide the joint venture with a $1,500 unsecured loan facility, which bears interest at a rate of LIBOR plus 2% and is payable on December 9, 2022. This transaction was approved by our management as an arm’s length transaction under our related party policy.