Unconsolidated Equity Method Investment

9 Months Ended

Nov. 30, 2024

Equity Method Investments and Joint Ventures [Abstract]

We have an unconsolidated equity method investment with Mizuho Leasing, which has 9 aircraft with a net book value of $261.5 million at November 30, 2024.


	Amount
Balance at February 29, 2024	$	42,710

Earnings of unconsolidated equity method investment, net of tax	1,737
Balance at November 30, 2024	$	44,447

On October 29, 2024, we entered into a loan agreement to provide our equity method investee with a $4.5 million unsecured loan facility, which bears interest at a rate of Term SOFR (as defined in the credit agreement) plus 2% and is payable on October 29, 2025. This transaction was approved by our management as an arm’s length transaction under our related party policy.