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Borrowings from Secured and Unsecured Debt Financings
6 Months Ended
Aug. 31, 2023
Debt Disclosure [Abstract]  
Borrowings from Secured and Unsecured Debt Financings Borrowings from Secured and Unsecured Debt FinancingsThe outstanding amounts of our secured and unsecured debt financings were as follows: At August 31, 2023At February 28, 2023Debt ObligationOutstandingBorrowingsNumber of AircraftInterest RateFinal StatedMaturityOutstandingBorrowingsSecured Debt Financings:Term Financings(1)$922,688 38 2.36% to 7.74%09/13/24 to 06/27/32$761,283 Less: Debt issuance costs and discounts(8,824)— (8,985)Total secured debt financings, net of debt issuance costs and discounts913,864 38 752,298 Unsecured Debt Financings:5.000% Senior Notes due 2023— 5.00%04/01/23500,000 4.400% Senior Notes due 2023650,000 4.40%09/25/23650,000 Senior Notes due 2024500,000 4.125%05/01/24500,000 Senior Notes due 2025650,000 5.25%08/11/25650,000 Senior Notes due 2026650,000 4.25%06/15/26650,000 2.850% Senior Notes due 2028750,000 2.85%01/26/28750,000 6.500% Senior Notes due 2028650,000 6.50%07/18/28— Unsecured Term Loans155,000 6.90%02/27/24155,000 Revolving Credit Facilities20,000 7.21%02/28/24 to 05/24/2520,000    Less: Debt issuance costs and discounts(33,125)(32,546)Total unsecured debt financings, net of debt issuance costs and discounts3,991,875 3,842,454 Total secured and unsecured debt financings, net of debt issuance costs and discounts$4,905,739 $4,594,752         (1)The borrowings under these financings at August 31, 2023 have a weighted-average fixed rate of interest of 5.46%.Secured Debt Financings:Term FinancingsDuring the six months ended August 31, 2023, we borrowed the remaining $168.7 million available under our full recourse secured financing facility entered into on November 21, 2022 (the “2022 Secured Facility”). The total amount borrowed under the 2022 Secured Facility was $447.7 million in relation to 17 owned aircraft. The 2022 Secured Facility bears interest at a floating rate under the Term SOFR (as defined in the credit agreement governing the 2022 Secured Facility) plus 2.35% per annum and matures on November 21, 2029. Unsecured Debt Financings:5.000% Senior Notes due 2023We repaid the $500.0 million aggregate principal amount of our 5.000% Senior Notes due 2023 at their final stated maturity date in April 2023.6.500% Senior Notes due 2028On July 18, 2023, the Company issued $650.0 million aggregate principal amount of 6.500% Senior Notes due 2028 (the “6.500% Senior Notes due 2028”) at an issue price of 99.815%. The 6.500% Senior Notes due 2028 will mature on July 18, 2028, and bear interest at a rate of 6.50% per annum, payable semi-annually on January 18 and July 18 of each year, commencing on January 18, 2024. Interest accrues on the 6.500% Senior Notes due 2028 from July 18, 2023.4.400% Senior Notes due 2023We repaid the $650.0 million aggregate principal amount of our 4.400% Senior Notes due 2023 at their final stated maturity date in September 2023.Revolving Credit FacilitiesOne of our unsecured revolving credit facilities was expanded from $245.0 million to $375.0 million during the three months ended August 31, 2023. The revolving credit facility matures on May 24, 2025.As of August 31, 2023, we had $20.0 million outstanding under our revolving credit facilities and had $1.9 billion available for borrowing.As of August 31, 2023, we were in compliance with all applicable covenants in our financings.