Property and Equipment (Tables)

12 Months Ended

Apr. 30, 2012

Cost and Related Accumulated Amortization of Property and Equipment

The cost and related accumulated amortization of the Company’s flying assets, facilities and equipment are as follows:

	Property and equipment									Total
	Flying Assets			Equipment			Facilities
At April 30, 2012:
Cost	$	1,029,381		$	81,802		$	129,284		$	1,240,467
Accumulated depreciation		(156,345	)		(24,992	)		(32,270	)		(213,607	)
Net book value	$	873,036		$	56,810		$	97,014		$	1,026,860
At April 30, 2011:
Cost	$	1,117,338		$	65,657		$	135,969		$	1,318,964
Accumulated depreciation		(142,024	)		(13,622	)		(29,819	)		(185,465	)
Net book value	$	975,314		$	52,035		$	106,150		$	1,133,499

Flying Assets under Capital Lease

Cost and Related Accumulated Amortization of Property and Equipment

The flying assets under capital lease included above are as follows:

	2012			2011
Flying assets under capital lease:
Cost	$	32,795		$	149,653
Accumulated amortization		(2,073	)		(1,745	)
	$	30,722		$	147,908