Lease Rental Revenues

12 Months Ended

Feb. 28, 2026

Leases [Abstract]

Lease Rental Revenues

Lease Rental Revenues

Minimum future lease rentals contracted to be received under our existing operating leases of flight equipment at February 28, 2026 were as follows:

Year Ended February 28/29,	Amount(1)
2027	$	731,483
2028	660,147
2029	583,403
2030	475,153
2031	391,214
Thereafter	992,058
Total	$	3,833,458

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(1)Reflects impact of lessee lease rental deferrals.

At February 28, 2026 and 2025, the amounts of lease incentive liabilities recorded in maintenance payments on our consolidated balance sheets were $23.5 million and $34.8 million, respectively.

Net Investment in Leases, Net

At February 28, 2026 and 2025, our net investment in leases consisted of 14 aircraft. During the year ended February 28, 2026, we sold 1 aircraft and acquired 1 aircraft, each of which were subject to sales-type leases.

The components of our net investment in leases at February 28, 2026 and 2025 were as follows:

	February 28,
	2026		2025
Lease receivable	$	119,712	$	121,202
Unguaranteed residual value of flight equipment	153,472		142,849
Net investment in leases	273,184		264,051
Allowance for credit losses	(6,099)		(6,802)
Net investment in leases, net	$	267,085	$	257,249

As of February 28, 2026, future lease payments on net investment in leases were as follows:

Year Ending February 28/29,	Amount
2027	$	26,751
2028	27,167
2029	26,690
2030	20,489
2031	22,797
Thereafter	28,650
Total lease payments to be received	152,544
Present value of lease payments – lease receivable	(119,712)
Difference between undiscounted lease payments and lease receivable	$	32,832