Flight Equipment Held for Sale	6 Months Ended
Jun. 30, 2015
Flight Equipment Held for Sale
Flight Equipment Held for Sale	Note 10. Flight Equipment Held for Sale Management evaluates all contemplated aircraft sale transactions to determine whether all the required criteria have been met under GAAP to classify aircraft as flight equipment held for sale. Management uses judgment in evaluating these criteria. Due to the significant uncertainties of potential sale transactions, the held for sale criteria generally will not be met unless the aircraft is subject to a signed sale agreement, or management has made a specific determination and obtained appropriate approvals to sell a particular aircraft or group of aircraft. Aircraft classified as flight equipment held for sale are recognized at the lower of their carrying amount or estimated fair value less estimated costs to sell and are included in other assets on the Consolidated Balance Sheet. At the time aircraft are sold, or classified as flight equipment held for sale, the cost and accumulated depreciation are removed from the related accounts and depreciation expense is no longer recognized. As of June 30, 2015, we had four aircraft that were classified as flight equipment held for sale, with a carrying value of $145.8 million which is included in other assets on the Consolidated Balance Sheet. We received deposits of $151.1 million for these aircraft during the second quarter ended June 30, 2015 which are included in accrued interest and other payables on the Consolidated Balance Sheet. We expect the sale of all four aircraft to be completed in 2015 and result in a gain of approximately $5.3 million. We ceased recognition of depreciation expense on these aircraft subsequent to transferring them from flight equipment subject to operating leases.

Note 10. Flight Equipment Held for Sale

Management evaluates all contemplated aircraft sale transactions to determine whether all the required criteria have been met under GAAP to classify aircraft as flight equipment held for sale. Management uses judgment in evaluating these criteria. Due to the significant uncertainties of potential sale transactions, the held for sale criteria generally will not be met unless the aircraft is subject to a signed sale agreement, or management has made a specific determination and obtained appropriate approvals to sell a particular aircraft or group of aircraft. Aircraft classified as flight equipment held for sale are recognized at the lower of their carrying amount or estimated fair value less estimated costs to sell and are included in other assets on the Consolidated Balance Sheet. At the time aircraft are sold, or classified as flight equipment held for sale, the cost and accumulated depreciation are removed from the related accounts and depreciation expense is no longer recognized.

As of June 30, 2015, we had four aircraft that were classified as flight equipment held for sale, with a carrying value of $145.8 million which is included in other assets on the Consolidated Balance Sheet. We received deposits of $151.1 million for these aircraft during the second quarter ended June 30, 2015 which are included in accrued interest and other payables on the Consolidated Balance Sheet. We expect the sale of all four aircraft to be completed in 2015 and result in a gain of approximately $5.3 million. We ceased recognition of depreciation expense on these aircraft subsequent to transferring them from flight equipment subject to operating leases.