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Concentration of Risk
 6 Months Ended
Aug. 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 August 31, 2024, and February 29, 2024, was as follows:
 August 31, 2024February 29, 2024
RegionNumber
of
Aircraft		Net Book
Value %		Number
of
Aircraft		Net Book
Value %
Asia and Pacific63 28 %63 27 %
Europe91 31 %90 30 %
Middle East and Africa10 5 %9 5 %
North America49 23 %46 23 %
South America29 12 %32 14 %
Off-lease2 
(1)
1 %3 1 %
Total244 100 %243 100 %
_______________
(1)Of the 2 off-lease aircraft at August 31, 2024, we currently have 1 narrow-body freighter aircraft, which is subject to a lease commitment, and 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 August 31, 2024 and February 29, 2024:
 August 31, 2024February 29, 2024
CountryNet Book
Value		Net Book
Value %		Number
of
Lessees		Net Book
Value		Net Book
Value %		Number
of
Lessees
United States$842,912 12%7$806,162 11%5
India698,412 10%3750,498 11%4
The geographic concentration of our lease rental revenue earned from flight equipment held for lease was as follows:
 Three Months Ended August 31,Six Months Ended August 31,
Region2024202320242023
Asia and Pacific28 %29 %28 %30 %
Europe32 %31 %31 %30 %
Middle East and Africa4 %4 %5 %4 %
North America24 %23 %24 %23 %
South America12 %13 %12 %13 %
Total100 %100 %100 %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 August 31,Six Months Ended August 31,
2024202320242023
Number of LesseesCombined % of Lease
Rental Revenue		Number of LesseesCombined % of Lease
Rental Revenue		Number of LesseesCombined % of Lease
Rental Revenue		Number of LesseesCombined % of Lease
Rental Revenue
Largest lessees by lease rental revenue214%321%215%321%
For the three months ended August 31, 2024, Spain comprised 16% of total revenue. Total revenue attributable to Spain included $21.7 million from gains on sales of flight equipment and maintenance revenue. For the six months ended August 31, 2024, Spain comprised 11% of total revenue. Total revenue attributable to Spain included $24.5 million from gains on sales of flight equipment and maintenance revenue.
For the three months ended August 31, 2023, total revenue attributable to the United States and India was 13% and 11%, respectively. Total revenue attributable to the United States included $4.1 million from gains on sales of flight equipment. For the six months ended August 31, 2023, no country comprised more than 10% of total revenue.