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Concentration of Risk
 3 Months Ended
May 31, 2024
Risks and Uncertainties [Abstract]  
Concentration of Risk
Note 6. Concentration of Risk
The classification of regions in the tables below is based on our customers’ principal place of business.
The geographic concentration of the net book value of our fleet (flight equipment held for lease and net investment in leases, or “Net Book Value”) as of May 31, 2024, and February 29, 2024, was as follows:
 May 31, 2024February 29, 2024
RegionNumber
of
Aircraft		Net Book
Value %		Number
of
Aircraft		Net Book
Value %
Asia and Pacific65 27 %63 27 %
Europe91 30 %90 30 %
Middle East and Africa10 5 %9 5 %
North America49 23 %46 23 %
South America32 14 %32 14 %
Off-lease3 
(1)
1 %3 1 %
Total250 100 %243 100 %
_______________
(1)Of the 3 off-lease aircraft at May 31, 2024, we currently have 1 narrow-body freighter aircraft which we are marketing for lease.
The following table sets forth individual countries representing at least 10% of our Net Book Value as of May 31, 2024 and February 29, 2024:
 May 31, 2024February 29, 2024
CountryNet Book
Value		Net Book
Value %		Number
of
Lessees		Net Book
Value		Net Book
Value %		Number
of
Lessees
India$743,232 10%4$750,498 11%4
United States853,000 12%7806,162 11%5
The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows:
 Three Months Ended May 31,
Region20242023
Asia and Pacific28 %30 %
Europe31 %30 %
Middle East and Africa5 %4 %
North America23 %23 %
South America13 %13 %
Total100 %100 %
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 May 31,
20242023
Number of LesseesCombined % of Lease
Rental Revenue		Number of LesseesCombined % of Lease
Rental Revenue
Largest lessees by lease rental revenue215%321%
For the three months ended May 31, 2024, South Korea and India comprised 12% and 10% of total revenue, respectively. Total revenue attributable to South Korea included $18.0 million of maintenance revenue as a result of a scheduled aircraft lease expiration.
For the three months ended May 31, 2023, Greece comprised 10% of total revenue. Total revenue attributable to Greece included $19.2 million of maintenance revenue as a result of scheduled aircraft lease expirations.