Unconsolidated Equity Method Investment

6 Months Ended

Aug. 31, 2025

Equity Method Investments and Joint Ventures [Abstract]

Unconsolidated Equity Method Investment

Unconsolidated Equity Method Investment

We have an unconsolidated equity method investment with Mizuho Leasing, which has 8 aircraft with a Net Book Value of $238.1 million at August 31, 2025.

	Amount
Balance at February 28, 2025	$	45,813
Earnings of unconsolidated equity method investment, net of tax	855
Balance at August 31, 2025	$	46,668

On May 15, 2025, the Company received $1.0 million from our equity method investee as full repayment of the aggregate principal amount outstanding under a loan agreement.

On August 18, 2025, we entered into a new loan agreement to provide our equity method investee with a $1.0 million unsecured loan facility, which bears interest at a rate of Term Secured Overnight Funding Rate (“SOFR”) (as defined in the loan agreement) plus 2% and is payable on August 18, 2026.